Mumbai, July 17, 2025 — Waaree Renewable Technologies Limited (WRTL), a subsidiary
of Waaree Energies Limited, has posted a robust performance in the first quarter of FY
2025–26, with consolidated net profit surging to ₹86.44 crore from ₹28.30 crore in the same
period last year, driven by strong EPC execution and higher revenues.
Financial Highlights (Consolidated, Q1 FY26 vs Q1 FY25)
Revenue from operations: ₹603.19 crore vs ₹236.35 crore
Total income: ₹608.02 crore vs ₹239.12 crore
EBITDA: ₹126.14 crore vs ₹43.03 crore
Net profit: ₹86.44 crore vs ₹28.30 crore
EPS: ₹8.29 vs ₹2.72
The company’s EPC contracts segment contributed the majority of revenues at ₹594.39 crore,
while the power sale segment added ₹8.79 crore.
Strategic Investment in Smart Joules
The board approved an investment of ₹7.98 crore in Smart Joules Private Limited (SJPL)
through the purchase of equity shares and subscription to compulsory convertible preference
shares (CCPS). This will give WRTL a 3.23% stake in SJPL on a fully diluted basis.
Smart Joules, incorporated in 2014, provides energy efficiency and cooling solutions for
buildings and factories. The investment aligns with WRTL’s vision to expand across the
renewable and energy efficiency ecosystem.
Management Commentary
Managing Director Pujan Doshi said the results reflect “execution excellence, operational
efficiency, and a diversified clean energy strategy.” He added that the SJPL investment marks
a step toward integrated clean energy solutions.
Outlook
With a strong order pipeline and expanding portfolio, WRTL aims to sustain growth
momentum in FY26 while exploring strategic partnerships in solar, hybrid, storage, and
energy efficiency domains.
