Waaree Energies Ltd

Revenue from operations climbed 36.38% year on year (YoY) to Rs 4,003.93 crore in the quarter ended 31 March 2025. Total income was at Rs 4,140.92 crore in the March 2025 quarter, registering a growth of 37.68% YoY. Profit before exceptional items and tax was at Rs 849.48 crore in Q4 FY25, registering growth of 131.85% from Rs 366.38 crore recorded in Q4 FY24. The company reported an exceptional loss of Rs 4.02 crore during the quarter. The company's EBITDA soared by 116.27% to Rs 1,059.57 crore during the quarter from Rs 489.94 crore recorded in same quarter last year. EBITDA margin improved to 25.59% in Q4 FY25 as against 16.29% recorded in the same quarter last year. Production was 2.06 GW in Q4 FY25, reflecting a 52.59% growth compared to 1.35 GW in Q4 FY24, a result of strong operational focus, the company stated. As of 31 March 2024, the company's order book stands at 25 GW and the order book value stands at around Rs 47,000 crore. On a full-year basis, the company's consolidated net profit soared 50.93% to Rs 1,867.39 crore on 26.73% increase in total income to Rs 14,444.50 crore in FY25 over FY24. Amit Paithankar, whole time director & CEO, Waaree Energies, said, 'FY25 marks a pivotal inflection point in Waaree's journey- a year where our strategy, scale, and execution converged to deliver industry-leading EBITDA performance of Rs. 3,123.20 crore. This performance underscores the strength of our execution capabilities and the quality of order book, with centred focus on margins. We see encouraging demand trends, which bodes well for future growth. Waaree is focused on both backward and forward integration, reflected in our expansion and investment plans including cell, ingot and wafer manufacturing, battery energy storage system, power infrastructure and inverters. Our 1.6 GW module manufacturing facility is operational in Brookshire, Texas, USA. This reinforces our commitment to the American market and underlines our local-for-local manufacturing philosophy. Our strategy of local manufacturing and supply chain management will help us navigate through the changing policy environment Furthermore, our EBITDA outlook for FY26 stands at Rs 5,500 crore to Rs 6,000 crore. The quality of our order book and execution capabilities will enable us to achieve these numbers.' Waaree Energies is the largest manufacturer of solar PV modules in India with the largest aggregate installed capacity of 15 GW for solar PV modules and 5.4GW for solar cells. With presence across India and 25+ countries worldwide, we offer innovative solar solutions, including panel manufacturing, EPC services, project development, and rooftop systems. Powered by Capital Market - Live

Net profit of Waaree Energies rose 34.10% to Rs 618.91 crore in the quarter ended March 2025 as against Rs 461.52 crore during the previous quarter ended March 2024. Sales rose 36.38% to Rs 4003.93 crore in the quarter ended March 2025 as against Rs 2935.84 crore during the previous quarter ended March 2024. For the full year,net profit rose 50.94% to Rs 1867.39 crore in the year ended March 2025 as against Rs 1237.18 crore during the previous year ended March 2024. Sales rose 26.73% to Rs 14444.50 crore in the year ended March 2025 as against Rs 11397.61 crore during the previous year ended March 2024. ParticularsQuarter EndedYear EndedMar. 2025Mar. 2024% Var.Mar. 2025Mar. 2024% Var. Sales4003.932935.84 36 14444.5011397.61 27 OPM %23.0414.25 -18.8413.81 - PBDT1002.85441.53 127 2971.111669.66 78 PBT849.47366.38 132 2568.661392.85 84 NP618.91461.52 34 1867.391237.18 51 Powered by Capital Market - Live

Waaree Energies will hold a meeting of the Board of Directors of the Company on 22 April 2025.Powered by Capital Market - Live

The Board of Waaree Energies at its meeting held on 25 March 2025 has approved the establishment of an additional 1.6 GW Module manufacturing line at its unit situated at Brookshire, in the state of Texas, USA and setting up of additional module manufacturing lines with a Capacity of 3.2 GW at its plant in Chikhli, Dist: Navsari in the state of Gujarat.Powered by Capital Market - Live

Waaree Energies has received upgrade and has been assigned the credit rating CARE A+; Stable / CARE A1+ for various bank facilities availed by the company. Powered by Capital Market - Live

Waaree Energies has received an order for supply of solar modules for 410 MWp from a ABREL EPC (a wholly owned subsidiary of Aditya Birla Renewables) engaged in the business of owning, developing and operating renewable power projects in India. Powered by Capital Market - Live

According to an exchange filing, the order involves the supply of 362.5 MWp solar PV modules and the supply of modules is scheduled to commence in FY 2025-26. Meanwhile, the company informed that the officials of the company will hold a physical meeting with a group of investors on Monday, 24 February 2025, at the company's manufacturing plant in Chikhli, Navsari, Gujarat. The discussions will focus on publicly available information, with no unpublished price-sensitive information about the company being disclosed during the meeting. The company also noted that changes may happen due to exigencies on the part of Host / Company. Waaree Energies is the largest manufacturer of solar PV modules in India with the largest aggregate installed capacity of 15 GW for solar PV modules and 5.4GW for solar cells. With presence across India and 25+ countries worldwide, we offer innovative solar solutions, including panel manufacturing, EPC services, project development, and rooftop systems. The company reported 295.65% surge in consolidated net profit to Rs 492.69 crore in Q3 FY25 from Rs 124.53 crore posted in Q3 FY24. Revenue from operations jumped 116.6% year on year (YoY) to Rs 3,457.29 crore in the quarter ended 31 December 2024. Powered by Capital Market - Live

Waaree Energies has received an order for supply of solar modules for 362.5 MWp from a renowned customer engaged in the business of owning, developing and operating renewable power projects in India. Powered by Capital Market - Live

Revenue from operations jumped 116.6% year on year (YoY) to Rs 3,457.29 crore in the quarter ended 31 December 2024. Total income was at Rs 3,545.27 crore in the December 2024 quarter, registering a growth of 114.63% YoY. Profit before tax stood at Rs 689.81 crore in the third quarter of FY 2025, up 275.77% as against Rs 183.58 crore recorded in Q3 FY24. The company's EBITDA soared by 256.97% to Rs 809.71 crore in Q3 FY25 from Rs 226.82 crore recorded in same quarter last year. EBITDA margin improved to 22.84% in Q3 FY25 as against 13.73% recorded in the same quarter last year. Production was at 1.81 GW in Q3 FY25, reflecting a 68% growth YoY, reinstating the company's efficient execution strategy, it stated. As of 31 December 2024, the company's order book stands at 26.5 GW and order book value stands at around Rs 50,000 crore. Amit Paithankar, Whole Time Director & CEO, Waaree Energies said: 'As an energy transition company, we see immense opportunities and are well positioned to tap into new business areas. Our solar business continues to be strong and we are rapidly advancing in the adjacencies of energy storage systems, green hydrogen, inverters and renewable infrastructure. The momentum in this space is stronger than ever, and we are well-positioned to capitalize on it. We continue to build on our strengths, enhancing scalability and internal efficiencies, which has clearly reflected in our 9M FY25 performance. Strong execution and disciplined growth remain at the core of our strategy. The US contributed ~15-20% of our revenue mix. As we expand globally, we are strengthening our presence in high-potential regions, ensuring that we stay ahead of the curve in this fast-evolving industry. We are excited about the road ahead and remain committed to driving meaningful change in the energy landscape. Waaree Energies is the largest manufacturer of solar PV modules in India with the largest aggregate installed capacity of 15 GW for solar PV modules and 5.4GW for solar cells. With presence across India and 25+ countries worldwide, we offer innovative solar solutions, including panel manufacturing, EPC services, project development, and rooftop systems. Powered by Capital Market - Live

Net profit of Waaree Energies rose 295.64% to Rs 492.69 crore in the quarter ended December 2024 as against Rs 124.53 crore during the previous quarter ended December 2023. Sales rose 116.60% to Rs 3457.29 crore in the quarter ended December 2024 as against Rs 1596.18 crore during the previous quarter ended December 2023. ParticularsQuarter EndedDec. 2024Dec. 2023% Var. Sales3457.291596.18 117 OPM %20.8810.73 - PBDT778.86208.37 274 PBT689.81134.47 413 NP492.69124.53 296 Powered by Capital Market - Live