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Waaree Renewable Technologies Ltd
Company soars 13% - What’s Behind Its Record-Breaking Quarter ?
Shares of Waaree Renewable Technologies Ltd. surged over 13% on September 23, 2025, hitting an all-time high of ₹1,287 after the company reported its best-ever quarterly performance. Robust revenue growth, strong project execution, and improved margins drove the rally, while a healthy order pipeline and expansion plans point to continued growth in India’s renewable energy sector.
Record Quarterly Performance
Waaree Renewable’s Q2 FY26 results were its strongest to date. Consolidated net profit more than doubled to ₹116.3 crore from ₹53.5 crore a year ago, while revenue from operations rose 47.7% to ₹774.8 crore. EBITDA increased sharply to ₹157.9 crore from ₹71.6 crore, with operating margins improving to 20.4% from 13.6% YoY, reflecting efficient project execution and cost management across its solar EPC and IPP businesses.
Expanding Renewable Footprint
The company’s performance is supported by growth across multiple renewable verticals, including Battery Energy Storage Systems and data centre projects. Waaree’s unexecuted order book stood at 3.48 GWp, with a bidding pipeline exceeding 27 GWp, demonstrating strong visibility for future revenue. During the quarter, the company secured new solar project orders totaling approximately 1.25 GWp, reinforcing its leadership in the renewable energy market.
Strategic Expansion Plans
Waaree’s board has approved capital expenditure plans to set up 28 MWp IPP solar plants in Maharashtra and 37.5 MWp in Bikaner, Rajasthan. These investments are aligned with India’s accelerating renewable energy buildout, which currently stands at 256 GW of installed capacity. CFO Manmohan Sharma noted that the company’s strong performance reflects its execution capabilities and the sector’s overall growth momentum.
Stock Performance and Investor Takeaways
The stock has gained nearly 49% over the past year and extended its five-day gain to over 22%, with market capitalization crossing ₹13,000 crore. Trading volumes spiked sharply after the Q2 announcement, underscoring investor enthusiasm. With record earnings, a robust order book, and ongoing expansion plans, Waaree Renewable Technologies is positioned for continued growth in India’s booming renewable energy sector.
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