Waaree Renewable Technologies Limited, the Solar EPC arm of Waaree Group, a solar developer that finances, constructs, owns and operates solar projects, has reported its unaudited Financial Results for the Third Quarter and Nine-months ended on December 31, 2024.
CONSOLIDATED FINANCIAL HIGHLIGHTS – 9M FY25
|
Revenue from Operations Rs. 1,121.17 Crores +85.87% YoY |
EBITDA Rs. 184.57 Crores +39.95% YOY
|
PAT Rs. 135.16 Crores +43.94% YOY
|
|
In Rs Cr |
Q3FY25 |
Q3FY24* |
Y-o-Y Change |
9MFY25 |
9MFY24* |
Y-o-Y Change |
|
Revenue from Operations |
360.35 |
324.19 |
11.15% |
1,121.17 |
603.19 |
85.87% |
|
EBITDA |
71.92 |
87.81 |
-18.09% |
184.57 |
131.89 |
39.95% |
|
EBITDA Margin |
19.96% |
27.09% |
16.46% |
21.86% |
||
|
PAT |
53.48 |
64.23 |
-16.74% |
135.16 |
93.90 |
43.94% |
|
PAT Margin |
14.84% |
19.81% |
12.06% |
15.57% |
KEY PERFORMANCE HIGHLIGHTS
Q3 & 9MFY25
-
Revenue for the 9MFY25 stood at Rs. 1,121.17 crores as against Revenue of Rs. 603.19 crores in comparative period during 9MFY24 representing growth of 85.87% YoY
-
EBITDA for the 9MFY25 grew by 39.95% from Rs. 131.89 crores in 9MFY24 to Rs. 184.57 crores
-
Revenue for Q3-FY25 stood at Rs. 360.35 crores as compared to Rs. 324.19 crores in Q3-FY24
-
EBITDA for Q3-FY25 stood at Rs. 71.92 crores as compared to Rs. 87.81 crores in Q3-FY24
-
The EPC segment delivered exceptional performance, achieving customer revenue of Rs. 1,093.99 crores for a volume of 1,024.92 MWp, compared to Rs. 580.80 crores for a volume of 473.44 MWp
-
The company has announced an interim dividend of Rs. 1 per share, representing 50% of the face value of Rs. 2.
Order book Position:
Key Updates
Commenting on the results Mr. Dilip Panjwani, CFO, Waaree Renewable Technologies Limited said:
“With a robust nine-month revenue growth of 85.87%, amounting to Rs. 1,121.17 crore, we are pleased to share our performance as a leading EPC player with commitment to help corporates attain sustainability in their renewable energy needs. By the end of December 2024, India’s renewable energy capacity reached 209.44 GW, with solar energy accounting for nearly half. The country added 24.5 GW of solar capacity in 2024, driven by a significant rise in utility-scale solar and rooftop solar. WRTL continues to invest strongly in technology reflecting in successful execution of complex projects in Floating Solar and Battery Energy Storage Systems. The company is also set to expand its presence by undertaking EPC projects for the Data Centre industry in India and globally.
The solar and wind sectors continue to drive this transformation, aligning with India’s ambitious targets for 2030 and 2070.For Waaree Renewable Technologies, these developments present exciting opportunities. With our strong order book and financial position, we are well-equipped to deliver value to our stakeholders and contribute to the global push for sustainable energy solutions.”