Waaree Renewable Technologies Limited (WRTL), the engineering, procurement and construction (EPC) arm of the Waaree Group, has reported strong financial results for the first quarter ended June 30, 2026, driven by robust project execution and sustained demand across the renewable energy sector. The company also strengthened its position in the transmission and distribution (T&D) business through a strategic acquisition while expanding into emerging segments such as Battery Energy Storage Systems (BESS) and data centre infrastructure.
For the first quarter of FY27, WRTL recorded revenue from operations of ₹924.25 crore, registering a 53.23% year-on-year growth compared with ₹603.19 crore in the corresponding quarter of the previous financial year. The company said the performance reflects consistent execution across its EPC portfolio and continued focus on timely project delivery.
Earnings before interest, tax, depreciation and amortisation (EBITDA) increased 47.58% to ₹173.48 crore, compared with ₹117.55 crore in Q1 FY26. Profit after tax (PAT) rose 37.70% to ₹118.97 crore, up from ₹86.40 crore reported in the same quarter last year. The company entered the new financial year with a consolidated unexecuted order book exceeding ₹5,300 crore, providing strong revenue visibility for the coming quarters. WRTL also reported a healthy bidding pipeline comprising more than 37 GWp of solar EPC opportunities, over 10 GWh of Battery Energy Storage System projects and transmission and distribution opportunities valued at more than ₹20,000 crore.
During the quarter, the company secured significant new orders, including a 1,520 MWh Battery Energy Storage System project and a 450 MWp ground-mounted solar power project. It also completed the acquisition of a 55% equity stake in Associated Power Structures Pvt Ltd, strengthening its capabilities in the transmission and distribution segment and enabling it to provide integrated infrastructure solutions alongside its renewable energy EPC business.
Commenting on the performance, Manmohan Sharma, Chief Financial Officer of Waaree Renewable Technologies Limited, said the company delivered a strong start to FY27 despite geopolitical uncertainties, supply chain adjustments and other global economic challenges. He noted that disciplined execution, efficient resource utilisation and operational excellence enabled the company to achieve strong revenue and profitability growth during the quarter.
He added that India’s renewable energy sector continues to present significant opportunities, with the country’s installed renewable energy capacity exceeding 288 GW as of June 2026, including more than 162 GW of solar capacity. As India works towards its target of 500 GW of non-fossil fuel capacity by 2030, large-scale renewable energy, hybrid projects and battery energy storage systems are expected to create sustained demand for EPC services.
The acquisition of Associated Power Structures is expected to strengthen WRTL’s presence in the transmission and distribution sector while complementing its renewable energy business. The company believes the combination of a strong order book, expanding operations and maintenance services and growing capabilities in emerging clean energy segments positions it well for long-term growth.
Headquartered in Mumbai, Waaree Renewable Technologies Limited is a subsidiary of the Waaree Group and focuses on solar EPC, project development, ownership and operations. The company provides rooftop, ground-mounted and open-access solar solutions while expanding into transmission infrastructure, battery energy storage and data centre EPC projects as part of its broader clean energy strategy.
