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Waaree Energies has issued guidance for EBITDA in the range of ₹5,500 crore to ₹6,000 crores backed by its expanded backward-integrated capacity, a growing US manufacturing footprint, and a robust global order pipeline,
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VALENTYN OGIRENKO
Riding on demand for solar PV modules from marquee utility-scale developers, Waaree Energies Ltd on Tuesday reported ₹1,932 crore in profit after tax (PAT) for the year 2024-25, a year-on-year growth of 107 per cent.
“As of March 2025, Waaree boasts an order book exceeding 25 GW valued more than ₹47,000 crore, with demand coming from marquee utility-scale developers and the C&I segment. This robust pipeline signals sustained demand across high-margin product categories, reaffirming Waaree’s strategic clarity and global competitiveness. The company aims to further accelerate growth by diversifying into new geographies in overseas markets while strengthening its leadership position in the domestic market,” the company stated in an official release.
The company’s total revenue stood at ₹14,846 crore for the fiscal 2025, thus reporting a 28 percent year-on-year growth. “With the company entering FY26 on solid footing, Waaree Energies has issued guidance for EBITDA in the range of ₹5,500 crore to ₹6,000 crores backed by its expanded backward-integrated capacity, a growing US manufacturing footprint, and a robust global order pipeline,” the company added.
order book
Amit Paithankar, Whole-Time Director & CEO, Waaree Energies Ltd, stated, “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 ₹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 ₹ 5,500 crore to ₹6,000 crore. The quality of our order book and execution capabilities will enable us to achieve these numbers.”
The PAT for the fourth quarter of FY 2025 stood at ₹649 crore, a growth of 254 percent year on year.
Published on April 22, 2025
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