Waaree Renewable Technologies Q2 FY27 revenue up 36.53% to Rs 1,057.84 Cr as PAT falls 29.98%; order book ~₹5,500 Cr+
Q2FY27 revenue up 36.53% to Rs 1,057.84 Cr, but PAT down 29.98% to Rs 81.48 Cr as margins compress.
By ScoutQuest · · 1 min read
- Q2FY27 revenue
- up 36.53% to Rs 1,057.84 Cr
- Q2FY27 PAT
- down 29.98% to Rs 81.48 Cr
- Consolidated unexecuted order book
- ~₹5,500 Cr+ (about ₹3,300 Cr+ EPC solar and BESS, ₹2,200 Cr+ T&D)
- Period
- Quarter and half year ended 30th September 2026
- Positioning
- Waaree RTL describes itself as an end-to-end EPC and T&D solutions provider spanning utility, rooftop and floating solar, BESS EPC, O&M, IPP assets, transmission lines, substations and lattice towers.
📉 Consolidated Q2FY27 revenue from operations rose 36.53% to Rs 1,057.84 Cr, while EBITDA was nearly flat at Rs 159.98 Cr (margin 15.12% vs 20.39%) and PAT fell 29.98% to Rs 81.48 Cr. For H1 FY27 revenue rose 43.84% to Rs 1,982.09 Cr with PAT of Rs 200.44 Cr, down 1.14%.
🏭 Depreciation and finance cost rose sharply in Q2FY27 (Rs 26.97 Cr and Rs 36.83 Cr vs Rs 2.18 Cr and Rs 3.62 Cr), and the balance sheet expanded to total assets of Rs 4,868.89 Cr from Rs 1,451.45 Cr, with operating cash flow of -16.27 Cr in H1 FY27.
🏭 The company says it acquired a 55% stake in Associated Power Structures to expand into transmission, substations and lattice towers, adding 108,000 MTPA of manufacturing capacity with 100,000 MTPA under construction. Management states that as T&D contribution scales, consolidated percentage margins may moderate.
📋 The presentation lists a consolidated unexecuted order book of ~₹5,500 Cr+ (about ₹3,300 Cr+ EPC solar and BESS, ₹2,200 Cr+ T&D), plus IPP plans of 233.6 MWp and a further 450 MWp through a subsidiary.
Also from Waaree Renewable Technologies
Solar PV EPC scope revised; aggregate capacity under two LoAs now 800 MWac / 1,109 MWp
23 Oct 2026
Audio recording of Q2 FY27 earnings call held on 21 October 2026 made available on company website
21 Oct 2026
Waaree Renewable Technologies management discussed order book, execution timelines and order pipeline in an interview
21 Oct 2026
More numbers
- Revenue from operations, Q2FY271,057.84 (Rs. Cr)
- Revenue growth Y-o-Y, Q2FY2736.53%
- EBITDA, Q2FY27159.98 (Rs. Cr)
- EBITDA margin, Q2FY2715.12%
- Profit after tax, Q2FY2781.48 (Rs. Cr)
- PAT change Y-o-Y, Q2FY27-29.98%
- Revenue from operations, H1 FY271,982.09 (Rs. Cr)
- Profit after tax, H1 FY27200.44 (Rs. Cr)
- Total assets, H1 FY274,868.89 (Rs. Cr)
- Operating cash flow, H1 FY27-16.27 (Rs. Cr)
- Revenue from operations, FY26Rs. 3,331.42 Cr
- Equity stake acquired in APSPL55%
- Order book~ ₹ 5,500 Cr +
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