WRTL Reports 82 Percent Revenue Surge to INR 1,597.75 Crore in FY25

Waaree Renewable Technologies Ltd. (WRTL) has announced its audited financial results for the fourth quarter (Q4) and full fiscal year FY25, delivering robust growth across all major financial metrics.

As per the firm, the company demonstrated exceptional momentum, supported by a strong order book, expanding execution capacity, and consistent operational efficiency within India’s rapidly growing renewable energy sector.In Q4 FY25, WRTL posted revenue from operations of INR 476.58 crore, reflecting a significant 32.3 percent sequential rise from INR 360.35 crore in Q3 FY25.

On a year-over-year basis, this marks an impressive 74.5 percent surge compared to INR 273.31 crore in Q4 FY24. Including other income of INR 4.86 crore, WRTL’s total income for the quarter stood at INR 481.44 crore. The company effectively managed key expenditures such as INR 334.96 crore for EPC contract costs, INR 7.50 crore in employee benefits, INR 4.38 crore in finance costs, INR 1.63 crore in depreciation, and INR 7.79 crore in other expenses, reflecting operational discipline despite increased scale.

For the entire fiscal year FY25, WRTL recorded revenue from operations of INR 1,597.75 crore, showcasing a robust 82.3 percent year-on-year increase from INR 876.50 crore in FY24. Including other income, total income for the year reached INR 1,612.55 crore, a strong jump from INR 881.99 crore in the previous fiscal year.

The cost of EPC contracts for the full year stood at INR 1,238.80 crore, highlighting the company’s ability to manage large-scale projects while preserving margins. This growth has been fueled by WRTL’s efficient execution of high-value EPC projects across both Commercial & Industrial (C&I) and utility-scale solar markets. India’s renewable energy sector continues to expand at an accelerated pace. As of March 2025, the country’s total renewable energy capacity stood at 220.10 GW, with solar contributing 105.65 GW.

The government’s 2030 target of 500 GW of renewable energy capacity, including 280 GW from solar, is propelling significant investment and development activity. Notably, solar capacity additions in FY25 reached 23.83 GW, sharply higher than the 15.03 GW added in FY24. This favorable policy and market environment is creating a robust foundation for companies like WRTL to scale further and innovate.

Commenting on the performance, Manmohan Sharma, CFO of Waaree Renewable Technologies Ltd., stated that the company achieved revenue of INR 1,597.75 crore in FY25, up from INR 876.50 crore in FY24, reflecting an 82.29 percent growth. He emphasized the company’s strong cash flow position and its ability to reinvest in emerging sectors, particularly energy storage.

Sharma highlighted that the company’s foray into Battery Energy Storage Systems (BESS) EPC is aligned with the evolving needs of the energy ecosystem and strengthens WRTL’s role as a complete clean energy solutions provider. WRTL has built a robust execution pipeline with an order book of 3.2 GW in Solar EPC and 40 MWh in BESS EPC. This positions the company to deliver large-scale, next-generation energy solutions, including hybrid and round-the-clock (RTC) power projects.

Waaree Renewable Technologies Ltd., a subsidiary of the Waaree Group, is a key player in India’s solar EPC and development space. The parent group has installed over 10,000 solar projects with a cumulative capacity of more than 2.32 GW.