Waaree Renewable Technologies, the engineering, procurement, and construction (EPC) arm of the Waaree Group, reported consolidated revenue from operations of ₹9.24 billion (~$95.7 million) for the first quarter (Q1) of the financial year (FY) 2027, a 53.23% year-over-year (YoY) increase from ₹6.03 billion (~$62.49 million).

The company attributed the revenue growth to steady execution across its EPC portfolio, efficient resource deployment, and disciplined project delivery. It said the performance was achieved despite a challenging global business environment marked by geopolitical tensions, tariff uncertainties, supply chain adjustments, and regional conflicts.

Profit after tax (PAT) increased 37.7% YoY to ₹1.19 billion (~$12.33 million) from ₹864 million (~$8.9 million).

Earnings before interest, taxes, depreciation, and amortization rose 47.58% YoY to ₹1.73 billion (~$17.92 million) from ₹1.18 billion (~$12.23 million).

Earnings per share (EPS) rose to ₹11.09 (~$0.11) from an EPS of ₹8.27 (~$0.086) in the same quarter of the previous year.

As of June 30, 2026, the company had a consolidated unexecuted order book exceeding ₹53 billion (~$549.2 million).

Waaree’s bidding pipeline comprised more than 37 GW of solar projects, over 10 GWh of battery energy storage system projects, and transmission and distribution opportunities worth over ₹200 billion (~$2.07 billion).

The company recently secured orders for a 1,520 MWh battery energy storage system project and a 450 MWp ground-mounted solar project.

Waaree Group currently has approximately 26 GW of solar module manufacturing capacity, 5.4 GW of solar cell manufacturing capacity, and 3 GW of inverter manufacturing capacity.

The company has executed projects totaling 5.89 GW, while 2,425 MW of capacity is under execution. Its executed portfolio also includes 59.26 MW of rooftop solar projects and 229 MW of floating solar projects.

In January 2026, Waaree announced the acquisition of approximately a 55% equity stake in the power transmission and distribution company Associated Power Structures (APSPL) for a total consideration of approximately ₹12.25 billion (~$133.6 million).

During the quarter, APSPL executed transmission orders worth more than ₹33 billion (~$341.96 million) and has a project pipeline exceeding ₹27 billion (~$279.79 million).

The company said it is evaluating opportunities in both domestic and international markets to secure EPC and T&D contracts. It is also exploring third-party operations and maintenance opportunities in the domestic market through both organic and inorganic growth strategies.

In Q4 FY 2026, Waaree Renewable Technologies reported revenue of ₹11.02 billion (~$118.27 million), a 131.31% YoY increase from ₹4.77 billion (~$51.19 million).