We have already submitted Transcript of Analysts Institutional Investors meeting call on Financial Results for the Quarter ended March 31, 2025 on April 30, 2025 under the scrip code 144277. ....
WAAREEENER · price
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Waaree Energies filed the transcript of its Q4 FY25 earnings call held on April 23, 2025. The company reported FY25 revenue of INR14,846 crores (up 27% YoY), EBITDA of INR3,123 crores (up 72.6% YoY) with margins expanding to 21.04% from 15.56%, and PAT of INR1,928 crores (up 51.3%). Q4 was particularly strong with EBITDA of INR1,059.57 crores (up 116% YoY) and margins of 25.59%. Management guided FY26 EBITDA at INR5,500-6,000 crores, backed by a robust INR47,000 crores order book split roughly 45% India and 55% overseas. The company now has 15 GW module capacity, a 5.4 GW cell factory, and a 1.6 GW US facility operational. Management highlighted a 100+ GW pipeline, DCR market growth from 3-4 GW to 10-15 GW, the ENEL acquisition (INR790+ crores equity commitment), and INR9,000 crores capex for the 6 GW integrated PLI project by 2027.
Strong FY25 print with 900+ bps Q4 margin expansion and explicit FY26 EBITDA guidance of 76-92% growth should reinforce positive sentiment. Diversified order book, dual manufacturing base in India and the US to manage tariff risks, and a 100+ GW pipeline provide multi-year visibility for shareholders.