Waaree Renewable Technologies: Q2 Earnings Surge and FY25 Growth Plans
Waaree Renewable Technologies has reported a significant surge in Q2 earnings, marking a 249.5% year-on-year revenue growth. CFO Dilip Panjwani shares insights on the company’s performance and growth strategies for FY25.
Waaree Renewable TechnologiesQ2 EarningsFy25 GrowthEpc SegmentRenewable EnergyReal Estate NewsNov 07, 2024
For the first half of FY25, Waaree’s revenue climbed to ₹760.82 crore, a 172.7% jump from the ₹279 crore reported in H1-FY24. EBITDA for this period also demonstrated robust growth, increasing by 155.6% to ₹112.65 crore. The EPC (Engineering, Procurement, and Construction) segment proved particularly strong, with customer billing reaching ₹583.36 crore for a volume of 528.56 MWp, significantly higher than the previous period’s ₹141.09 crore for a volume of 169.59 MWp.
Dilip Panjwani, CFO of Waaree Renewable Technologies, attributes the company’s success to its strategic focus on expanding its EPC business and enhancing operational efficiency. 'We have been able to capitalize on the growing demand for renewable energy solutions by leveraging our strong R&D capabilities and robust supply chain,' Panjwani said in an interview with Business Today TV.
Looking ahead, the company has ambitious plans for FY25. 'We are committed to further strengthening our market position by expanding our EPC portfolio and exploring new markets. We are also investing heavily in R&D to develop innovative solar solutions that will help us stay ahead of the competition,' Panjwani added.
Waaree Renewable Technologies is a leading provider of solar solutions, offering a wide range of products and services including solar modules, solar power plants, and EPC services. The company has been at the forefront of the renewable energy revolution in India, driving sustainable growth and creating a cleaner, greener future.
Despite the challenges posed by the global economic environment, Waaree remains optimistic about its future prospects. 'We are confident that our strong performance in Q2 is a clear indicator of our robust business model and our ability to navigate through uncertain times,' Panjwani concluded.
The company’s growth trajectory is a testament to its commitment to innovation, quality, and customer satisfaction. As the demand for renewable energy continues to rise, Waaree Renewable Technologies is well-positioned to capitalize on new opportunities and drive sustainable growth in the years to come.
Frequently Asked Questions
What is the revenue growth reported by Waaree Renewable Technologies in Q2-FY25?
Waaree Renewable Technologies reported a revenue of ₹524.47 crore in Q2-FY25, marking a 249.5% year-on-year growth compared to ₹150.06 crore in Q2-FY24.
How much did the EBITDA grow for Waaree Renewable Technologies in Q2-FY25?
The EBITDA for Waaree Renewable Technologies grew by 133.3% year-on-year to ₹71.57 crore in Q2-FY25, up from ₹30.68 crore in the prior year.
What is the EPC segment performance in Q2-FY25?
The EPC segment of Waaree Renewable Technologies performed exceptionally well, with customer billing reaching ₹583.36 crore for a volume of 528.56 MWp, significantly higher than the previous period’s ₹141.09 crore for a volume of 169.59 MWp.
What are Waaree Renewable Technologies' plans for FY25?
The company plans to further strengthen its market position by expanding its EPC portfolio, exploring new markets, and investing heavily in R&D to develop innovative solar solutions.
Who is Dilip Panjwani and what is his role in Waaree Renewable Technologies?
Dilip Panjwani is the CFO of Waaree Renewable Technologies. He plays a crucial role in the company’s financial strategy and has been instrumental in driving its impressive Q2 performance and growth plans for FY25.
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