Waaree Renewable Technologies Limited (WRTL), the engineering, procurement and construction (EPC) arm of the Waaree Group, reported revenue from operations of ₹1,057.84 crore for the second quarter of FY27, an increase of 36.53% year-on-year. The company announced its unaudited financial results for the quarter and half year ended September 30, 2026.
EBITDA for the quarter stood at ₹159.98 crore, compared with ₹157.95 crore in the corresponding period of the previous year. Profit after tax (PAT) was ₹81.48 crore, against ₹116.36 crore a year earlier. For the first half of FY27, revenue from operations increased 43.84% year-on-year to ₹1,982.09 crore, compared with ₹1,377.97 crore in H1 FY26. EBITDA rose 21.04% to ₹333.46 crore from ₹275.49 crore. PAT for the half year stood at ₹200.44 crore, compared with ₹202.75 crore in the corresponding period last year.
The company’s consolidated unexecuted order book exceeded ₹5,500 crore, providing visibility for future project execution. Its bidding pipeline includes more than 34.6 GWp of solar projects, over 12.5 GWh of battery energy storage system (BESS) opportunities and transmission and distribution (T&D) projects valued at more than ₹21,900 crore.
WRTL has been expanding beyond its core solar EPC operations into adjacent segments of the clean energy value chain. The acquisition of Associated Power Structures Private Limited (APSPL) has strengthened its presence in the T&D infrastructure business. The company is also pursuing EPC opportunities in battery energy storage systems and data centre infrastructure.
Commenting on the results, Manmohan Sharma, Chief Financial Officer of Waaree Renewable Technologies Limited, said quarterly and half-year revenue growth was supported by progress across the project portfolio, timely execution and the expansion of capabilities across renewable energy and T&D infrastructure.
He said acquisition-related financing costs and the addition of a business with a different margin profile had affected near-term profitability. The company remains focused on improving operational efficiencies, integrating its expanded businesses and building long-term value through greater scale and diversified capabilities.
Mr Sharma also highlighted government initiatives supporting renewable energy development and transmission infrastructure. According to the company, proposed investments in renewable energy evacuation, battery storage and floating solar are expected to create opportunities across generation, storage and T&D.
Waaree Renewable Technologies is a subsidiary of the Waaree Group and operates in solar project development and EPC services. It develops, finances, constructs, owns and operates solar projects, including rooftop, ground-mounted and open-access installations, serving commercial and industrial customers. Its expansion into T&D, energy storage and data centre infrastructure is aimed at broadening its business beyond solar power projects.
