| Revenue growth | 53% YoY growth driven by execution of 888 MW solar projects. |
|---|---|
| Margins | Standalone margins improving; consolidated margins slightly diluted by APSPL integration. |
| Order book | Robust at ₹5,300 Cr, including solar EPC, BESS, and T&D. |
| Demand visibility | Strong; India's solar and storage requirements projected to grow significantly. |
| Management confidence | Confident, leveraging the APSPL acquisition to enter the T&D segment. |
Growth
Revenue grew 53% YoY to ₹924 Cr; EBITDA stood at ₹173 Cr with PAT up 37%.
Outlook
Order book of ₹5,300 Cr and 1.15 GW O&M portfolio provide visibility for 12-15 months.
Risks
APSPL acquisition brings lower-margin T&D business; integration of new business lines remains unproven.
Last quarter's promises, checked
Delivered
- Execute 2.8 GW order book in 12-15 months → Executed 888 MW in Q1 (= BEAT)
- Maintain EBITDA margin above 15% → Delivered 18.7% (= BEAT)
- Funding IPP/Capex via internal accruals → No new debt for IPP (= BEAT)
Partly delivered
- Expand into BESS segment → 1.5 GWh order won but execution unproven (= PARTIAL)
Earnings Call Transcript filed with NSE, NSE: WAAREERTL. Summary written with AI assistance from the document.
Waaree Renewable Technologies Ltd: key numbers
- Share price
- ₹813.10
- Market cap
- ₹8,487 Cr
- Revenue (annual)
- ₹3,331 Cr
- Net profit (annual)
- ₹478.7 Cr
- P/E (TTM)
- 16.7×Sector 24.7×
- Promoter holding
- 74.32%+0.00% QoQ
- FII holding
- 1.98%Current quarter
Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.
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