Waaree Renewable Technologies Limited(WRTL), the EPC arm of the Waaree Group, stands among the leading players in the EPC and T&D space. Beyond its core renewable EPC business, WRTL has been expanding its capabilities across adjacent segments.
The recent acquisition of Associated Power Structures Pvt. Ltd. (APSPL) strengthens the company’s presence in the transmission and distribution (T&D) space. Company is also actively pursuing EPC opportunities in Battery Energy Storage Systems and Data Centre. These steps reflect WRTL’s effort to build a broader and more integrated presence across the clean energy value chain. It has announced its unaudited financial results for the quarter ended on June 30, 2026.
Waaree Renewable Technologies Limited (WRTL) reported a strong financial performance for the first quarter of FY27, driven by robust execution across its renewable energy EPC business. Revenue from operations rose 53.23% year-on-year to Rs. 924.25 crore in Q1 FY27, compared to Rs. 603.19 crore in the corresponding quarter last year. EBITDA increased 47.58% YoY to Rs. 173.48 crore, while Profit After Tax (PAT) grew 37.70% YoY to Rs. 118.97 crore, reflecting the company’s sustained growth momentum.
The company also maintained a healthy project pipeline, with a consolidated unexecuted order book exceeding Rs. 5,300 crore. Its bidding pipeline remains robust, comprising more than 37 GWp of solar projects, over 10 GWh of Battery Energy Storage System (BESS) opportunities, and transmission & distribution (T&D) projects worth over Rs. 20,000 crore. During the quarter, WRTL secured significant new orders, including a 1,520 MWh BESS project and a 450 MWp ground-mounted solar power project. Additionally, the company strengthened its presence in the transmission and distribution sector by acquiring a 55% equity stake in Associated Power Structures Pvt. Ltd. (APSPL).
Commenting on the results Mr. Manmohan Sharma, CFO, Waaree Renewable Technologies Limited 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 ₹ 924.25 crores compared to ₹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.
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