1. Opening Hook
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
