Waaree Energies saw its profit soar by 34% to ₹619 crore in the fourth quarter of 2025. The company’s revenue from operations grew by 36.38%, reaching ₹4,003.93 crore in the quarter ending on 31st March 2025. Total income for the quarter was ₹4,140.92 crore, marking a 37.68% increase compared to the same period last year.
The company’s profit before exceptional items and tax (PBT) jumped 131.85%, reaching ₹849.48 crore in Q4 FY25, up from ₹366.38 crore in Q4 FY24. However, there was an exceptional loss of ₹4.02 crore in the quarter. Despite this, the company’s EBITDA (Earnings Before Interest, Tax, Depreciation, and Amortization) surged by 116.27%, hitting ₹1,059.57 crore, compared to ₹489.94 crore in Q4 FY24. This led to an improvement in the EBITDA margin, which rose to 25.59% from 16.29% last year.
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Waaree Energies’ production grew by 52.59%, reaching 2.06 GW in Q4 FY25, compared to 1.35 GW in Q4 FY24. The company credited this growth to its strong operational focus. As of March 31, 2024, Waaree Energies had an impressive order book of 25 GW, with a total value of about ₹47,000 crore.
For the full year FY25, the company’s net profit grew by 50.93%, reaching ₹1,867.39 crore, while total income increased by 26.73%, amounting to ₹14,444.50 crore.
Amit Paithankar, the CEO of Waaree Energies, highlighted that FY25 was a major milestone for the company. He stated, “This year marks an important turning point in Waaree’s growth, where our strategy, scale, and performance came together to deliver record EBITDA. We are seeing strong demand trends, which are good for future growth.”
Paithankar also spoke about the company’s plans for expansion, including investments in solar cell and wafer manufacturing, energy storage systems, power infrastructure, and inverters. Waaree Energies has already set up a 1.6 GW module manufacturing plant in Brookshire, Texas, USA, showing its commitment to the American market with a “local-for-local” manufacturing approach.
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Looking ahead, the company is aiming for an EBITDA of ₹5,500 crore to ₹6,000 crore in FY26, with strong execution capabilities and a healthy order book set to help them achieve these targets.
Waaree Energies is India’s largest manufacturer of solar photovoltaic (PV) modules, with a total installed capacity of 15 GW for solar PV modules and 5.4 GW for solar cells. The company operates in more than 25 countries globally, providing solar products and services such as panel manufacturing, project development, EPC (Engineering, Procurement, and Construction) services, and rooftop solar systems.
