Waaree Energies Limited reported a strong set of unaudited consolidated financial results for the quarter and nine months ended December 31, 2025, underscoring sustained momentum in India’s renewable energy push and continued execution strength across manufacturing and EPC segments.
Strong Top-Line Performance
For the December 2025 quarter, Waaree Energies clocked revenue from operations of ₹7,565 crore, marking a sharp sequential and year-on-year improvement. Total income stood at ₹7,761 crore, supported by healthy demand for solar modules and project execution activity.
On a nine-month basis, revenue from operations rose to ₹18,057 crore, reflecting scale-up in capacity utilization and a growing order book, even amid global volatility in energy markets.
Profitability Remains Resilient
The company reported a profit before tax (PBT) of ₹1,469 crore for the quarter, despite higher raw material and operating costs. After accounting for tax expenses, net profit for the quarter stood at ₹1,107 crore, highlighting effective cost management and operating leverage.
For the nine months ended December 2025, net profit came in at ₹2,758 crore, significantly higher compared to the corresponding period last year, indicating consistent earnings quality and margin stability.
Cost Structure and Margins
Total expenses for the quarter were ₹5,997 crore, with material consumption forming the largest component. While costs rose due to elevated input prices and higher activity levels, Waaree Energies managed to protect margins through:
Improved operational efficiencies
Better procurement planning
Scale benefits from higher volumes
Depreciation and finance costs remained well-controlled, pointing to disciplined capital allocation.
Earnings and Shareholder Value
Earnings per share (EPS) for the quarter stood at ₹36.95 (basic), while nine-month EPS reached ₹92.22, reinforcing the company’s strong earnings trajectory. Total comprehensive income for the quarter was ₹1,116 crore, with the majority attributable to shareholders of the parent company
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