Waaree Renewable Technologies Ltd. (WRTL), one of India’s fastest-growing and largest solar EPC companies, today announced its audited financial results for Q4 and full-year FY25, showcasing record-breaking growth, sustained operational strength, robust order visibility, and strong execution capabilities in the renewable energy sector.

WRTL’s Q4 FY25 revenue from operations reached ₹476.58 crore, marking a substantial 32.3% increase sequentially from ₹360.35 crore in Q3 FY25 and a remarkable 74.5% increase YoY from ₹273.31 crore in Q4 FY24. Total income for the quarter stood at ₹481.44 crore, including other income of ₹4.86 crore. The company’s operating scale and revenue generation have demonstrated consistent and sharp growth, reflecting the successful execution of high-value EPC projects. Key expenses included ₹334.96 crore in cost of EPC contracts, ₹7.50 crore in employee benefits expense, ₹4.38 crore in finance costs, ₹1.63 crore in depreciation & amortization, and ₹7.79 crore in other expenses.

For the full fiscal year FY25, WRTL reported stellar revenue growth with total revenue from operations reaching ₹1,597.75 crore, an 82.3% increase YoY from ₹876.50 crore in FY24, driven by a strong execution pipeline of large-scale solar EPC projects. Total income, including other income, jumped to ₹1,612.55 crore, a significant rise from ₹881.99 crore in FY24, reflecting both operational excellence and steady secondary income streams. The company’s cost of EPC contracts for the year was ₹1,238.80 crore, indicating successful handling of high-value project deliveries. Despite the increased scale, cost controls remained efficient, aiding margin preservation. Strategic project wins have strengthened WRTL’s position as a leading solar EPC player for C&I and utility-scale markets, while the expansion of capabilities has set the foundation for hybrid RE solutions and RTC (Round-the-Clock).

As of March 2025, India’s total renewable energy capacity reached 220.10 GW, with solar contributing 105.65 GW. The government aims to achieve 500 GW of renewable energy by 2030, including 280 GW from solar, driving rapid sector growth and creating opportunities for expansion and innovation. This shift is being fueled by supportive policies and advances in clean energy technologies, along with rising demand in the C&I, utility-scale, and hybrid project segments.

Commenting on the results Mr. Manmohan Sharma, CFO, Waaree Renewable Technologies Limited said:“We are pleased to report a revenue of ₹1,597.75 crore for FY25, compared to ₹876.50 crore in FY24, reflecting an impressive growth of 82.29%. Our strong cash flow further reinforces our financial stability and ability to invest in future growth. Notably, India’s solar power sector, in particular, experienced a remarkable surge, with capacity additions reaching 23.83 GW in FY2025- substantially higher than the 15.03 GW added in the previous year.