Waaree Renewable Technologies Posts Record PAT of INR 53.52 Crore in Q2 FY25
Waaree Renewable Technologies Ltd. reports its highest-ever quarterly revenue of INR 524.47 crore in Q2 FY25, with 528.56 MWp executed. A strong order book and advanced technology position Waaree as a significant contributor to India’s renewable energy transition.
November 06, 2024. By EI News Network
This remarkable growth reflects a 249.5 percent year-on-year increase in revenue compared to the same quarter last year, which was INR 150.06 crore. EBITDA for Q2 FY25 also saw a substantial rise, amounting to INR 71.57 crore, a significant jump from INR 30.68 crore in Q2 FY24, demonstrating WRTL’s ongoing operational efficiency and robust performance in its EPC segment.
The company executed customer billing totaling INR 583.36 crore for a volume of 528.56 MWp in Q2 FY25, a stark rise from INR 141.09 crore and 169.59 MWp the previous year. Additionally,
Waaree's unexecuted order book stands strong at 1.7 GWp, projected to be completed within the next 9 to 12 months, supported by an active bidding pipeline of 17.8 GWp. Recent project wins include multiple ground-mounted solar power projects, ranging from 1.09 MWp to 30 MWp, and a floating solar power project of 1.09 MWp.
Dilip Panjwani, CFO of WRTL, noted that the company’s technological advancements and scalable project execution have enabled this unprecedented quarterly revenue. He highlighted WRTL’s ongoing investment in floating solar projects and battery energy storage systems as a reflection of its commitment to complex, high-value projects.
Panjwani emphasised India's crucial role in the global renewable landscape, with national targets of 50 percent renewable energy by 2030 and net-zero emissions by 2070, propelled by strong government support for solar energy.
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