While the world’s still debating “green transition timelines,” Waaree Renewable decided to break the scoreboard — 117% jump in profits and record-high execution. The CFO sounded like he’d been running a relay race with sunlight itself — “Execution with pace & comfort,” he said, while casually dropping a ₹774 crore revenue bomb. And yes, the management is now flirting with data centers and cooling businesses because, why stop at solar when you can power and chill the internet too? Keep reading — it gets hotter than Rajasthan in May. 🔥
2. At a Glance
Revenue ₹774.8 Cr – Up 47.7% YoY; solar panels clearly catching every photon of profit.
EBITDA ₹157.9 Cr – 120.7% jump; margins shot up like rooftop solar on subsidy day.
EBITDA Margin 20.4% – CFO says 15% is “comfortable” — investors call it “too modest.”
PAT ₹116.3 Cr – Up 117%; finally, a clean-energy story that’s profitable and believable.
Order Book 3.48 GWp – Visibility for a year; that’s sunlight guaranteed till FY27.
Execution 1.62 GWp in H1 – Beat full FY25 in just six months. Talk about solar speedruns. ⚡
3. Management’s Key Commentary
Manmohan Sharma (CFO): “We achieved our highest-ever quarterly revenue and PAT.” (Translation: If solar had a Hall of Fame, we just made the front page.*)
Sharma: “Our EBITDA margins are at 20.39%, though we’re comfortable at 15%.” (Investors collectively whisper: Please stay uncomfortable forever. 😏)
Abhishek Pareek (Group Finance Head): “Our base case is 15%, but execution efficiencies lift it to 20%.” (Ah, the rare case where Excel optimism actually turns real.)
Sharma: “Order book stands at 3.48 GWp, fully domestic.” (Translation: Make in India, sell across India, repeat until carbon neutral.*)
Pareek: “Procurement from Waaree Energies follows arm’s-length principles.” (Because related-party transactions are fine, but SEBI is always watching.)
Sharma: “We added 51 MWp to our IPP assets for steady 20-year revenue.” (Solar annuities — the finance bro’s dream.)
Sharma: “We’re exploring data centers and cooling EPC.” (From sun to servers — diversification, but make it renewable. 🌞💻)
