Total income was at Rs 4,140.92 crore in the March 2025 quarter, registering a growth of 37.68% YoY.

Profit before exceptional items and tax was at Rs 849.48 crore in Q4 FY25, registering growth of 131.85% from Rs 366.38 crore recorded in Q4 FY24. The company reported an exceptional loss of Rs 4.02 crore during the quarter.

The company’s EBITDA soared by 116.27% to Rs 1,059.57 crore during the quarter from Rs 489.94 crore recorded in same quarter last year. EBITDA margin improved to 25.59% in Q4 FY25 as against 16.29% recorded in the same quarter last year.

Production was 2.06 GW in Q4 FY25, reflecting a 52.59% growth compared to 1.35 GW in Q4 FY24, a result of strong operational focus, the company stated.

As of 31 March 2024, the company’s order book stands at 25 GW and the order book value stands at around Rs 47,000 crore.

On a full-year basis, the company’s consolidated net profit soared 50.93% to Rs 1,867.39 crore on 26.73% increase in total income to Rs 14,444.50 crore in FY25 over FY24.

Amit Paithankar, whole time director & CEO, Waaree Energies, said, “FY25 marks a pivotal inflection point in Waaree’s journey- a year where our strategy, scale, and execution converged to deliver industry-leading EBITDA performance of Rs. 3,123.20 crore. This performance underscores the strength of our execution capabilities and the quality of order book, with centred focus on margins.

We see encouraging demand trends, which bodes well for future growth. Waaree is focused on both backward and forward integration, reflected in our expansion and investment plans including cell, ingot and wafer manufacturing, battery energy storage system, power infrastructure and inverters.

Our 1.6 GW module manufacturing facility is operational in Brookshire, Texas, USA. This reinforces our commitment to the American market and underlines our local-for-local manufacturing philosophy. Our strategy of local manufacturing and supply chain management will help us navigate through the changing policy environment

Furthermore, our EBITDA outlook for FY26 stands at Rs 5,500 crore to Rs 6,000 crore. The quality of our order book and execution capabilities will enable us to achieve these numbers.”

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.