India’s photo voltaic PV module sector has skilled speedy growth, with manufacturing capability practically doubling to 74 GW by March 2025, up from 38 GW a 12 months earlier. Solar energy now accounts for 48% of India’s 220.1 GW put in renewable power capability, and the nation surpassed 100 GW of put in photo voltaic capability in early 2025, reflecting sturdy coverage help and technological development.
With a market capitalization of Rs 85,529.95 crore, the shares of Waaree Energies Ltd closed at Rs 2,977.20 per share, decreased round 1.36 p.c as in comparison with a earlier closing value of Rs 3,018.30 apiece.
The corporate achieved a outstanding monetary turnaround, with consolidated web revenue hovering from Rs 39 crores in FY20 to Rs 1,928 crores in FY25. This displays a five-year revenue CAGR of 118 p.c, underscoring sturdy execution of development methods. The speedy rise in income highlights the corporate’s profitable scaling and sustained profitability throughout its numerous enterprise segments.
US tax invoice
Lately, the US Home narrowly handed Trump’s tax invoice 215-214, aiming to reverse components of Biden’s Inflation Discount Act, together with clear power grants and photo voltaic tax credit. Whereas it sparked concern amongst US clear power traders, Waaree Energies sees alternative, noting India isn’t listed among the many Entities of Concern.
Monetary Outcome
In This fall FY25, the corporate posted income of Rs 4,140.92 crore, up 37 p.c year-on-year from Rs 3,007.44 crore and 17 p.c quarter-on-quarter from Rs 3,545.27 crore in Q3 FY25, reflecting constant enterprise development and robust operational momentum throughout successive quarters.
Internet revenue rose 36 p.c year-on-year to Rs 644.47 crore, up from Rs 475.16 crore in the identical quarter final 12 months. On a sequential foundation, it elevated 27 p.c from Rs 506.88 crore in Q3 FY25, reflecting sturdy earnings momentum and constant quarterly development.
Order Ebook
Waaree Energies has a 25 GW order e book and leads with a 14.1 p.c share in India’s module shipments. Abroad share rose to 57 p.c of the Rs 47,000 crore order e book in FY26 Q1. Sturdy coverage help, surging demand, and concentrate on home manufacturing underpin India’s photo voltaic capability development past 105 GW.
Future Steering
Waaree Energies has a producing capability of 15 GW of photo voltaic modules, scaling its power transition investments with a 5.4 GW cell line operational and a 6 GW ingot-wafer facility deliberate for 2027. Tasks embrace inexperienced hydrogen, battery storage, and renewable energy infrastructure. The ENEL acquisition is underway. FY26 EBITDA is guided between Rs 5,500 and Rs 6,000 crore.
Waaree Energies Restricted’s product portfolio contains varied sorts of PV modules, reminiscent of multicrystalline, monocrystalline, and TopCon modules, which embrace versatile, bifacial (Mono PERC), each framed and unframed, in addition to building-integrated photovoltaic (BIPV) modules.
Written by Abhishek Singh
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