Waaree Renewable Technologies Limited has informed the Exchange regarding Board meeting held on July 17, 2025.
WAAREERTL · price
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Waaree Renewable Technologies (WRTL), a subsidiary of Waaree Energies, reported a strong set of unaudited consolidated results for Q1 FY26 (quarter ended June 30, 2025). Revenue from operations surged to Rs. 603.19 crore from Rs. 236.35 crore in Q1 FY25, a jump of about 155% year-on-year, driven primarily by the EPC Contracts segment. Profit after tax (attributable to owners) tripled to Rs. 86.44 crore from Rs. 28.30 crore, with basic EPS rising to Rs. 8.29 from Rs. 2.72. The Board also approved a strategic investment of Rs. 7.98 crore to acquire a 3.23% stake (on a fully diluted basis) in Smart Joules Private Limited, a cooling and energy-efficiency solutions company, through share purchase and subscription to compulsorily convertible preference shares, expected to be completed by July 31, 2025. A new wholly-owned subsidiary, Sunsational Power Private Limited, was incorporated on May 20, 2025, to expand into solar park and EPC work. The auditor (KKC & Associates LLP) issued an unqualified limited review report on both consolidated and standalone results, though it flagged a continuing GST show-cause notice for which the company has submitted its response.
Sharp revenue and profit growth in Q1 FY26 is a strong positive signal for shareholders, reflecting the company's accelerating EPC order execution. The minority investment in Smart Joules is a small-ticket strategic move that should not materially affect financials but signals expansion into energy-efficiency adjacencies.