Waaree Energies (WAAREEENER) Q3 24/25 earnings summary

Executive summary

• Unaudited consolidated and standalone financial results for the quarter and nine months ended December 31, 2024, were approved and released following a board meeting on January 30, 2025.

• The company completed its IPO in October 2024, raising ₹43,241.40 million, with shares listed on NSE and BSE.

• Acquisition agreement signed to purchase Enel Green Power India Private Limited for up to ₹7,920 million.

Financial highlights

• Consolidated revenue from operations for Q3 FY25 was ₹34,572.88 million, up from ₹15,961.83 million in Q3 FY24.

• Consolidated net profit for Q3 FY25 was ₹4,926.87 million, compared to ₹1,245.26 million in Q3 FY24.

• For the nine months ended December 31, 2024, consolidated revenue was ₹1,04,405.66 million and net profit was ₹12,836.60 million.

• Standalone revenue for Q3 FY25 was ₹30,824.62 million, with net profit at ₹4,713.92 million.

• Basic EPS (consolidated) for Q3 FY25 was ₹18.41, and for the nine months was ₹46.64.

Outlook and guidance

• IPO proceeds are being used to finance a 6GW manufacturing facility in Odisha and for general corporate purposes.

• Acquisition of Enel Green Power India is expected to expand renewable energy capacity and project portfolio.