Whalesbook
Waaree Renewable Technologies Ltd (WRTL) reported a significant 124% surge in net profit, reaching ₹120 crore for the third quarter of FY26. This impressive financial performance was propelled by a robust 136% year-on-year increase in revenues from operations, which stood at ₹851 crore.
EPC Boom Fuels Performance
The company's growth was largely attributable to a booming demand for solar engineering, procurement, and construction (EPC) contracts. Revenues from these contracts saw a substantial 138% rise, complemented by a 21% growth in revenue from the sale of power. This indicates a strong execution capability and market demand for WRTL's core services.
New Projects and Strategic Capex
Further bolstering its growth trajectory, WRTL announced that its Board of Directors approved the capital expenditure budget for establishing a 120 MWp Solar Power Park in Buldhana, Maharashtra. Adding to its impressive order book, the company also secured a Letter of Award (LoA) for a ₹103 crore EPC project. This contract involves the execution of ground-mount solar power project works of 25 MWac/35MWp on a turnkey basis, including evacuation infrastructure for 50 MW. The project is slated for completion during FY26-27.
Executive Outlook
Manmohan Sharma, CFO of Waaree Renewable Technologies Ltd, commented on the results, highlighting the company's operational efficiency and robust model. "We are pleased to report revenues of ₹851.06 crore in Q3 FY26, compared to ₹360.35 crore in Q3 FY25, reflecting y-o-y growth of 136.18 per cent," Sharma stated. He added that the company holds an unexecuted EPC orderbook of 2.92 GWp and is focused on delivering integrated Operations & Maintenance (O&M) services. Sharma also emphasized a commitment to maintaining healthy cashflows, conservative leverage, and strong governance standards, while pursuing innovation and expanding partnerships within the renewable ecosystem.