Waaree Energies (WAAREEENER) Q2 24/25 earnings summary

Executive summary

• Approved unaudited standalone and consolidated financial results for the quarter and half year ended September 30, 2024, with limited review by statutory auditors.

• Appointed M/s. Mahajan & Aibara Chartered Accountants LLP as internal auditors for FY 2024-25.

• Approved investment of up to ₹600 crores in subsidiaries for renewable power project infrastructure and pipeline development.

• Plans to enter electrolyser manufacturing for green hydrogen and lithium-ion energy storage, with detailed plans to follow.

• Completed IPO post-period, raising ₹43,241.40 million and listing on NSE and BSE on October 28, 2024.

Financial highlights

• Consolidated revenue from operations for Q2 FY25: ₹35,743.77 million; H1 FY25: ₹69,832.78 million (up from ₹68,655.89 million YoY).

• Consolidated net profit for Q2 FY25: ₹3,756.59 million; H1 FY25: ₹7,767.84 million (up from ₹6,583.94 million YoY).

• Standalone revenue for Q2 FY25: ₹31,690.72 million; H1 FY25: ₹63,591.22 million.

• Standalone net profit for Q2 FY25: ₹3,574.67 million; H1 FY25: ₹7,292.65 million.

• Basic EPS (consolidated) for H1 FY25: ₹28.73 (up from ₹26.25 YoY).

Outlook and guidance

• Board approved strategic investments in renewable power and new manufacturing verticals, indicating expansion into green hydrogen and energy storage.

• Detailed investment plans for new projects to be announced within two months.