Waaree Energies Limited has reported its third-quarter results for the financial year 2024-25 (Q3 FY 2024-25), ending on December 31, 2024. The company reported total income of Rs 35,452.65 million, reflecting a 114.63 per cent increase compared to Q3 FY 2023-24. The earnings before interest, tax, depreciation, and amortisation (EBITDA) stood at Rs 8,097.05 million, marking a 256.97 per cent rise year-on-year, while the profit after tax (PAT) reached Rs 5,068.76 million, up by 259.98 per cent on a year-on-year basis.
The EBITDA margin expanded to 22.84 per cent from 13.73 per cent in Q3 FY 2023-24, and the PAT margin improved to 14.30 per cent from 8.52 per cent. For the first nine months of FY 2024-25, total income stood at Rs 107,051.41 million, reflecting a 24.11 per cent year-on-year increase. EBITDA for the first nine months of FY 2024-25 rose by 56.38 per cent to Rs 20,636.31 million, while PAT during the same period increased by 60.62 per cent to Rs 12,836.60 million. The PAT margin for the first nine months of FY 2024-25 stood at 11.99 per cent.
The company’s order book currently stands at 26.5 GW, valued at approximately Rs 500 billion. Additionally, trial production has commenced at its 5.4 GW solar cell manufacturing facility, and its 1.6 GW solar module line in the United States has begun commercial production. Furthermore, in Q3 FY 2024-25 , the company sanctioned Rs 55.1 billion in capital expenditure and Rs 20 billion in investment for establishing a 300 MW electrolyser manufacturing plant. Rs 207.3 billion in capital expenditure and Rs 65 billion in investment have further been allocated for a 3.5 GWh lithium-ion advanced chemistry storage cell manufacturing plant. The company has also committed Rs 13 billion in capital expenditure towards its inverter business.
