Revenue from operations jumped 116.6% year on year (YoY) to Rs 3,457.29 crore in the quarter ended 31 December 2024.
Total income was at Rs 3,545.27 crore in the December 2024 quarter, registering a growth of 114.63% YoY.
Profit before tax stood at Rs 689.81 crore in the third quarter of FY 2025, up 275.77% as against Rs 183.58 crore recorded in Q3 FY24.
The company’s EBITDA soared by 256.97% to Rs 809.71 crore in Q3 FY25 from Rs 226.82 crore recorded in same quarter last year. EBITDA margin improved to 22.84% in Q3 FY25 as against 13.73% recorded in the same quarter last year.
Production was at 1.81 GW in Q3 FY25, reflecting a 68% growth YoY, reinstating the company’s efficient execution strategy, it stated.
As of 31 December 2024, the company’s order book stands at 26.5 GW and order book value stands at around Rs 50,000 crore.
Amit Paithankar, Whole Time Director & CEO, Waaree Energies said: “As an energy transition company, we see immense opportunities and are well positioned to tap into new business areas. Our solar business continues to be strong and we are rapidly advancing in the adjacencies of energy storage systems, green hydrogen, inverters and renewable infrastructure. The momentum in this space is stronger than ever, and we are well-positioned to capitalize on it.
We continue to build on our strengths, enhancing scalability and internal efficiencies, which has clearly reflected in our 9M FY25 performance. Strong execution and disciplined growth remain at the core of our strategy.
The US contributed
15-20% of our revenue mix. As we expand globally, we are strengthening our presence in high-potential regions, ensuring that we stay ahead of the curve in this fast-evolving industry. We are excited about the road ahead and remain committed to driving meaningful change in the energy landscape."
Waaree Energies is the largest manufacturer of solar PV modules in India with the largest aggregate installed capacity of 15 GW for solar PV modules and 5.4GW for solar cells. With presence across India and 25+ countries worldwide, we offer innovative solar solutions, including panel manufacturing, EPC services, project development, and rooftop systems.