Waaree Energies (WAAREEENER) Q4 24/25 earnings summary

Executive summary

• Audited standalone and consolidated financial results for the quarter and year ended March 31, 2025, were approved and released, with an unmodified audit opinion from SRBC & Co. LLP.

• The company completed a successful IPO in October 2024, raising ₹3,600 crore via fresh issue and ₹721.44 crore via offer for sale, with shares listed on NSE and BSE.

• Acquisition of Enel Green Power India Private Limited was announced, pending completion of conditions precedent.

Financial highlights

• Consolidated revenue from operations for FY25 was ₹14,444.50 crore, up from ₹11,397.61 crore in FY24.

• Net profit attributable to owners for FY25 was ₹1,867.39 crore, compared to ₹1,237.18 crore in FY24.

• EBITDA and operating margins improved year-over-year, with consolidated profit before tax at ₹2,564.64 crore for FY25.

• Standalone revenue for FY25 was ₹12,764.55 crore, with net profit of ₹1,781.17 crore.

• Basic EPS (consolidated) for FY25 was ₹68.24, up from ₹48.05 in FY24.

Outlook and guidance

• Management expects minimal operational impact from recent US tariff announcements due to diversified supply chain and local manufacturing in the US.

• IPO proceeds are earmarked for expansion, including a 6GW solar manufacturing facility in Odisha.