Waaree Renewable Technologies Ltd

Revenue from operations declined 16.16% QoQ to Rs 924.25 crore in the quarter ended 30 June 2026. On a year-on-year basis, however, the company posted strong growth, with net profit rising 34.08% and revenue increasing 53.22%. Profit before tax (PBT) stood at Rs 163.39 crore in Q1 FY27, down 21.48% sequentially but up 40.16% from the year-ago period. EBITDA rose 47.58% YoY to Rs 173.48 crore from Rs 117.55 crore in Q1 FY26, reflecting improved operational performance. The company said its consolidated unexecuted order book remains above Rs 5,300 crore. It also highlighted a strong bidding pipeline comprising more than 37 GWp of solar projects, over 10 GWh of battery energy storage system (BESS) projects, and transmission and distribution (T&D) opportunities worth over Rs 20,000 crore. During the quarter, Waaree Renewable secured a 1,520 MWh BESS order and a 450 MWp ground-mounted solar EPC project. The company also completed the acquisition of a 55% equity stake in Associated Power Structures Pvt. Ltd., strengthening its presence in the transmission and distribution segment. Manmohan Sharma, CFO, Waaree Renewable Technologies, said, The global business environment continues to face multiple challenges, including geopolitical tensions tariff uncertainties supply chain adjustments and regional conflicts. Despite these headwinds, we are pleased to begin FY27 on a strong note, with consolidated revenue for Q1 FY27 at Rs 924.25 crore compared to Rs 603.19 crore in Q1 FY26, reflecting a robust growth of 53.23%. This performance was driven by steady execution across our EPC portfolio, efficient resource deployment, and a sustained focus on disciplined project delivery. India's installed renewable energy capacity stood at over 288 GW as of June 2026, with solar capacity crossing 162 GW and remaining the leading driver of the country's clean energy transition. With India targeting 500 GW of non-fossil fuel capacity by 2030, there remains a significant pipeline of projects yet to be built, providing a strong runway for utility-scale renewable development. Beyond this, BESS EPC and hybrid renewables represent an emerging growth opportunity, supported by rising demand for grid stability and round-the-clock clean power. During the quarter, we completed the acquisition of a 55% stake in Associated Power Structures Pvt. Ltd. This strengthens our capabilities in transmission and distribution (T&D), enabling us to offer integrated solutions while continuing to expand our renewable EPC business in a disciplined and scalable manner. Backed by a healthy unexecuted order book of Rs. 5,300+ crores, WRTL remains well positioned for sustained growth, supported by expanding O&M capabilities. Supported by a strong execution track record and expanding capabilities, we remain confident in our long-term growth strategy. We will continue to focus on disciplined execution, operational excellence, and delivering sustainable value to our stakeholders. Waaree Renewable Technologies Limited (WRTL) is a subsidiary company of Waaree Group and spearheading the Solar EPC business. We are also a solar developer that finances, constructs, owns and operates solar projects. Headquartered in Mumbai, we operate across geographies, focusing on longterm investments within the commercial and industrial customer segments. Powered by Capital Market - Live

Net profit of Waaree Renewable Technologies rose 34.08% to Rs 115.90 crore in the quarter ended June 2026 as against Rs 86.44 crore during the previous quarter ended June 2025. Sales rose 53.23% to Rs 924.25 crore in the quarter ended June 2026 as against Rs 603.19 crore during the previous quarter ended June 2025. ParticularsQuarter EndedJun. 2026Jun. 2025% Var. Sales924.25603.19 53 OPM %18.7719.49 - PBDT169.17118.81 42 PBT163.39116.57 40 NP115.9086.44 34 Powered by Capital Market - Live

Waaree Renewable Techs. will hold a meeting of the Board of Directors of the Company on 22 July 2026.

The revised order pertains to the execution of Engineering, Procurement and Construction (EPC) works for a solar power project with a capacity of 980 MWp / 700 MWac. Following the enhancement, the contract value has increased by Rs 30.91 crore, taking the total order size to Rs 1,044.69 crore, inclusive of taxes. The company clarified that while the commercial value of the contract has increased, the aggregate project capacity remains unchanged at 980 MWp / 700 MWac, as originally disclosed on 20 February 2024. All other terms and conditions of the contract remain unchanged. The execution timeline will be mutually decided between the parties. WRTL further stated that the contract does not qualify as a related-party transaction and that neither the company's promoters nor promoter group entities have any interest in the awarding entity. The company clarified that the contract does not constitute a related-party transaction and that neither its promoters nor promoter group entities have any interest in the award. Waaree Renewable Technologies (WRTL) is a subsidiary company of the Waaree Group and is spearheading the Solar EPC business. We are also a solar developer that finances, constructs, owns, and operates solar projects. Headquartered in Mumbai, we operate across geographies, focusing on long-term investments within the commercial and industrial customer segments. On the financial front, the company reported a 66.02% year-on-year increase in consolidated net profit to Rs 155.74 crore for the quarter ended March 2026, compared with Rs 93.81 crore in the corresponding quarter of the previous year. Consolidated revenue from operations surged 131.31% to Rs 1,102.40 crore from Rs 476.58 crore reported in the quarter ended March 2025. Powered by Capital Market - Live

Waaree Renewable Technologies has received an enhancement in the scope of work under the existing contract for the execution of Engineering, Procurement, and Construction (EPC) works for a Solar Power Plant of 980 MWp / 700 MWac. The scope of the commercial order has been enhanced by Rs. 30.91 crore totalling to Rs. 1,044.69 crore (Inclusive of taxes).

The contract pertains to a 300 MW/450 MWp ground-mounted solar power project and includes operation and maintenance (O&M) services for a period of two years. According to the company, the project is scheduled for completion during FY2026-27, in line with the terms of the contract. The aggregate order size stands at 300 MW/450 MWp. Waaree Renewable Technologies clarified that SPPL is a subsidiary of the company and that the contract therefore qualifies as a related-party transaction. The company added that its promoter and promoter group entities have an interest in the awarding entity through this subsidiary relationship. Waaree Renewable Technologies (WRTL) is a subsidiary company of the Waaree Group and is spearheading the Solar EPC business. We are also a solar developer that finances, constructs, owns, and operates solar projects. Headquartered in Mumbai, we operate across geographies, focusing on long-term investments within the commercial and industrial customer segments. The company's consolidated net profit surged 124.74% to Rs 120.19 crore in Q3 FY26 as against Rs 53.48 crore in Q3 FY25. Revenue from operations zoomed 136.18% year on year (YoY) to Rs 851.06 crore in Q3 FY26 over Q3 FY25. The counter slipped 2.04% to Rs 950.65 on the BSE. Powered by Capital Market - Live

Waaree Renewable Technologies has signed Letter of Award of the execution of Engineering, Procurement and Construction (EPC) contract for 300MW/450MWp Ground Mount Solar project with Two years of operation and maintenance services from its wholly-owned subsidiary.

Waaree Renewable Technologies has signed turnkey contract with Waaree Forever Energies for the execution of Engineering, Procurement and Construction (EPC) works for 350MW/1400MWh BESS order with two years of operation and maintenance services.

The project will be executed on an EPC basis and is scheduled to be completed during FY27, the company said in a regulatory filing. The order has been awarded by a domestic entity and is classified as a commercial order. Waaree Renewable Technologies further said that WFEPL is a subsidiary of its holding company and the transaction falls under related-party transactions. Waaree Renewable Technologies (WRTL) is a subsidiary company of the Waaree Group and is spearheading the Solar EPC business. We are also a solar developer that finances, constructs, owns, and operates solar projects. Headquartered in Mumbai, we operate across geographies, focusing on long-term investments within the commercial and industrial customer segments. The company's consolidated net profit surged 124.74% to Rs 120.19 crore in Q3 FY26 as against Rs 53.48 crore in Q3 FY25. Revenue from operations zoomed 136.18% year on year (YoY) to Rs 851.06 crore in Q3 FY26 over Q3 FY25. Shares of Waaree Renewable Technologies shed 0.68% to close at Rs 936 on the BSE.Powered by Capital Market - Live

Net profit of Waaree Renewable Technologies rose 66.02% to Rs 155.74 crore in the quarter ended March 2026 as against Rs 93.81 crore during the previous quarter ended March 2025. Sales rose 131.31% to Rs 1102.40 crore in the quarter ended March 2026 as against Rs 476.58 crore during the previous quarter ended March 2025. For the full year,net profit rose 108.89% to Rs 478.70 crore in the year ended March 2026 as against Rs 229.16 crore during the previous year ended March 2025. Sales rose 108.51% to Rs 3331.42 crore in the year ended March 2026 as against Rs 1597.75 crore during the previous year ended March 2025. ParticularsQuarter EndedYear EndedMar. 2026Mar. 2025% Var.Mar. 2026Mar. 2025% Var. Sales1102.40476.58 131 3331.421597.75 109 OPM %18.7626.51 -19.2419.46 - PBDT210.18126.81 66 648.23310.87 109 PBT208.09125.19 66 639.61304.50 110 NP155.7493.81 66 478.70229.16 109 Powered by Capital Market - Live