Waaree Energies Limited has announced its financial results for the first quarter (Q1) of financial year (FY) 2025-26, ending June 30, 2025. The company reported a total income of Rs 45.97 billion, reflecting a 31.48 per cent year-on-year (YoY) increase from Rs 34.96 billion in Q1 FY 2024-25. Earnings before interest, taxes, depreciation, and amortisation (EBITDA) stood at Rs 11.68 billion, recording an 82.61 per cent YoY growth. The EBITDA margin was 25.42 per cent. Profit after tax (PAT) rose to Rs 7.73 billion, reflecting a 92.68 per cent YoY increase from Rs 4.01 billion in Q1 FY 2024-25, while PAT margin was recorded at 16.81 per cent in Q1 FY 2025-26. Basic earnings per share rose to Rs 25.94 from Rs 14.98.
Waaree Energies achieved its highest-ever quarterly solar module production of 2.3 GW in Q1 FY 2025-26. Additionally, the company reported an order book of approximately Rs 490 billion and a global pipeline exceeding 100 GW. Green hydrogen, inverter, and battery energy storage system facilities under construction are reportedly progressing on schedule.
Furthermore, the company has proposed a change in the initial public offering object clause to shift manufacturing from Odisha to Gujarat and Maharashtra, which has been put up for shareholder approval. The board of directors has also approved additional capital expenditure of Rs 27.54 billion for the expansion of 4 GW cell manufacturing capacity in Gujarat and 4 GW ingot-wafer capacity in Maharashtra. The company has maintained its EBITDA guidance of Rs 55–60 billion for FY 2025-26.
