Waaree Energies Q4 Profit Jumps 34%

23 Apr 2025 , 12:46 PM

Waaree Energies Ltd, one of India’s top solar panel makers, posted robust Q4 FY25 earnings as of March 31, 2025. The company’s net profit increased 34.1% year-over-year to ₹618.9 crore from ₹461.5 crore in the corresponding quarter last year. Revenue from operations increased 36.4% to ₹4,003.9 crore from ₹2,935.8 crore during the fourth quarter of the previous fiscal.

EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) increased 120.6% YoY to ₹922.6 crore from ₹418.3 crore in the previous year. EBITDA margin also increased significantly to 23%, as compared to 14.3% in Q4 FY24, due to improved cost efficiency and increased operating leverage.

The company manufactured 2.06 GW of solar modules during Q4 FY25, as compared to 1.35 GW during Q4 FY24. Total module manufacturing in FY25 was 7.13 GW, up by 49.5% from 4.77 GW in FY24.

For the entire financial year, revenue was ₹14,846.06 crore, up 27.62% from last year. Profit after tax (PAT) for FY25 increased by more than two times, 107.08% year-over-year, to ₹1,932.15 crore.

New capacity expansion plans were approved by the board as of March 25, 2025, to fuel growth in the future. The company will install a 1.6 GW module manufacturing facility in Brookshire, Texas, USA. Waaree will also install 3.2 GW of new module manufacturing facilities at its Chikhli factory near Pune.

CEO Amit Paithankar said that FY25 was a significant milestone, as the company recorded industry-leading EBITDA of ₹3,123.20 crore. He emphasized that Waaree’s success was fueled by robust execution, quality order book, and margin-driven growth strategies.