Waaree Renewable Technologies Ltd · NSE:WAAREERTL
Waaree Renewable Technologies — Q1 FY26 Earnings Presentation
30 slides from Waaree Renewable Technologies's earnings presentation, Jul 17, 2025
Slide 1: Execution with Pace & Comfort - Investor Presentation Cover Letter
Execution with Pace & Comfort July 17, 2025 To To The Manager The Manager BSE Limited, National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, Exchange Plaza, C-1 Block G, Dalal Street, Fort, Bandra - Kurla Complex, Bandra (East) Mumbai-400001 Mumbai - 400 051 Scrip Code: 534618 Scrip Sy
Slide 2: Investor Presentation Q1FY26: Accelerating Global Energy Transition
INVESTOR PRESENTATION |Q1FY26 Accelerating Global Energy Transition
Slide 3: Safe Harbor
Safe Harbor WAARFFIRTL Execution with Pace & Comfort This presentation and the accompanying slides (the “Presentation”), which have been prepared by Waaree Renewable Technologies Limited (the “Company’), have been prepared solely for information purposes and do not constitute any offer, recommendati
Slide 4: Group Overview
Group Overview
Slide 5: Waaree Group – Vertically Integrated Operations
Waaree Group – Vertically Integrated Operations Execution with Pace & Comfort #1 Indian Module Battery Energy Manufacturer Storage System Green Hydrogen- Products Exported In 26 Countries Electrolyser 35 Years of manufacturing Industry Experience CARE A+, Stable ~10,000 ~15 GW Module Capacity & Cred
Slide 6: Integrated Energy Offerings
Integrated Energy Offerings WAARFFIRTL Execution with Pace & Comfort Solar EPC O&M Rooftop Floating On Grid Modules Services Services Solutions Solar Inverters Off Grid Inverters BESS Lithium Ion Solar Products Green Hydrogen- Solar Batteries Water Pump, Street Electrolyser Partners Lights manufactu
Slide 7: Marquee Clientele & Stakeholder Relationships
Marquee Clientele & Stakeholder Relationships WAARFFIRTL & Execution with Pace Comfort • Strong relationship with a multitude of WAAREE/RTL Execution with Pace & Comfort Customers / Developers Developers Lenders to global lenders - both state-owned and private • Lenders rely on Waaree’s credibility
Slide 8: Industry Overview
Industry Overview
Slide 9: Global Energy Transition
Global Energy Transition WAARFFIRTL Execution with Pace & Comfort Projected annual Solar PV capacity additions1, GW …driven by RE – Projected Installed Capacity India2, GW 493.9 539.6 0 Net Zero Carbon emission commitment globally For setting up of 450 GW RE + 19 GW PSP and 42 GW BESS to necessitate
Slide 10: Indian Energy Transition
Indian Energy Transition WAARFFIRTL Execution with Pace & Comfort Government targets to achieve solar power capacity of ~280GW from 106GW in FY25 (21% CAGR over FY25–30E)1 Installed Capacity in (GW) 280 21% 36% 106 82 54 22 35 7 FY16 FY18 FY20 FY22 FY24 FY25 2030E Estimated ground-mounted, rooftop a
Slide 11: Supportive Government Policies Fueling Growth
Supportive Government Policies Fueling Growth WAARFFIRTL Execution with Pace & Comfort India-EPC services demand across solar energy Market potential of Indian O&M in solar1 State wise Solar Parks as on Dec 2024 (MW)2 Sanctioned Capacity Projects Commissioned Estimated O&M market for 3rd party (GW)
Slide 12: Company Overview
Company Overview
Slide 13: Journey to Leadership in Solar EPC
Journey to Leadership in Solar EPC WAARFFIRTL Execution with Pace & Comfort Waaree RTL Expands Market Presence in India • Credit Rating upgraded: A, Revenue (Rs. Cr) Stable (CARE) 1598 • Ground Mounted Solar Project – 435 MWp 115% 2025 • Ground Mounted Solar 876 Project – 255 MWp • 40 MWh Battery St
Slide 14: Complete Solutions with Proven Experience
Complete Solutions with Proven Experience WAARFFIRTL Execution with Pace & Comfort Engineering Project Systems Electrical Structural & Civil Monitoring Evacuation 01 Procurement PV Modules Inverters Structures Cables Transformers Other BOS 02 Construction Road, Drainage & Land Development Structure
Slide 15: Comprehensive RE EPC and O&M Expertise
Comprehensive RE EPC and O&M Expertise….. WAARFFIRTL & Execution with Pace Comfort Key financial metrics Design and Engineering • Dedicated in-house design & engineering team of 32 people INR 1,597.75 Cr 19.46% 114.67% 14.33% • India based cost effective structure FY25 Revenue FY25 EBITDA FY22-25 FY
Slide 16: …with end-to-end capabilities
…with end-to-end capabilities WAARFFIRTL Execution with Pace & Comfort In House Dedicated Capabilities Single Location Aggregated & Installation & Adherence to EHS Power Developed Land on Free-Hold Basis Commissioning and Quality Evacuation Ready & Robust Evacuation Infrastructure (Transmission Line
Slide 17: Major EPC Accomplishments
Major EPC Accomplishments WAARFFIRTL Execution with Pace & Comfort 3.03 GW 3,155 MWp 59.26 MW ~769 MW 2.29 MW R&D Team Project Project site O&M Portfolio of solar Floating In House R&D team Commissioned under execution Roof Top Projects power plant assets Solar Projects for New Technology Commission
Slide 18: Large Order Book with Strong Execution
Large Order Book with Strong Execution WAARFFIRTL Execution with Pace & Comfort Unexecuted orderbook has been scaled up over years (MWp)… …. With stable rate of execution Executed Order Book (MWp) Revenue from Operations (Rs. Cr) 1524 1598 3263 3155 2365 876 704 699 603 817 295 351 2023 2024 2025 Q1
Slide 19: Key Ongoing Projects
Key Ongoing Projects WAARFFIRTL Execution with Pace & Comfort 2012 MWp Ground Mounted project 980 MWp Ground Mounted project 450 MWp Ground Mounted project 412.5 MWp Ground Mounted project at Bikaner, Rajasthan at Kurnool, Andhra Pradesh at Bikaner, Rajasthan at Bikaner, Rajasthan �- - - - - ' 150 M
Slide 20: Future Strategy
Future Strategy
Slide 21: Key Strengths
Key Strengths WAARFFIRTL Execution with Pace & Comfort Supported by a strong parent company, enabling seamless Fast growing solar market with massive tailwinds integration with its module manufacturing business Comprehensive Solar EPC solutions provider with end-to-end Well entrenched in the Indian
Slide 22: Unique Propositions
Unique Propositions WAARFFIRTL Execution with Pace & Comfort CUSTOMER MARKET ON GROUND NETWORK CONNECT ACCEPTANCE TRACK RECORD Strong customer base of Proven name & quality at Strong & proven network with all Large installations with long respected industrial competitive rate in national stakeholder
Slide 23: Growth Strategy - Energy Transition
Growth Strategy - Energy Transition Execution with Pace & Comfort �· ffi Solar Parks �- Energy Transition O&M Renewable ··· aa Storage Services Solar Green Hydrogen Hybrid Battery Pump ·:� Floating @W Rooftop Ground Mounted Achieve higher growth in the EPC segment Expand in O&M markets • Evaluating
Slide 24: Experienced Board
Experienced Board Management WAARFFIRTL Execution with Pace & Comfort Mr. Nilesh Bhogilal Gandhi Mr. Pujan Pankaj Doshi Mr. Hitesh Pranjivan Mehta Chairman & Non-Executive Independent Director Managing Director Executive Director An accomplished professional with over three With over three decades o
Slide 25: Strong Leadership Team
Strong Leadership Team WAARFFIRTL Execution with Pace & Comfort Mr. Manmohan Sharma Mr. Ravikesh Singh Chief Financial Officer Chief Operating Officer-EPC He is a Chartered Accountant with over 29 years of experience in Project Finance, Accounts, Working He holds a B. Tech in Electrical Engg & Post
Slide 26: Financial Highlights
Financial Highlights
Slide 27: Robust Financial Performance
Robust Financial Performance WAARFFIRTL Execution with Pace & Comfort (Consolidated) (₹ in Cr) Revenue EBITDA & EBITDA Margin PAT & PAT Margin 17.38% 19.49% 11.91% 14.32% +186.14% +206.77% 155.20% 603.19 117.54 86.39 236.35 41.08 28.16 Q1FY25 Q1FY26 Q1FY25 Q1FY26 Q1FY25 Q1FY26 Revenue EBITDA & EBITD
Slide 28: Consolidated Income Statement
Consolidated Income Statement WAARFFIRTL Execution with Pace & Comfort Particulars (₹ Crs) Q1FY26 Q1FY25 Y-o-Y Q4FY25 Q-o-Q FY25 FY24* Y-o-Y Revenue from Operations 603.19 236.35 476.58 1597.75 876.50 Total Revenue 603.19 236.35 155.20% 476.58 26.57% 1,597.75 876.50 82.29% Cost of EPC contract 470.0
Slide 29: Consolidated Balance Sheet and Cash Flow Statement
Consolidated Balance Sheet and Cash Flow Statement WAARFFIRTL Execution with Pace & Comfort Particulars (₹ Cr) FY25 FY24* Shareholders' Funds 454.95 246.53 Non-Current Liabilities 52.23 48.78 Current Liabilities 612.94 419.23 Total Equity & Liabilities 1,120.12 714.32 Fixed Assets 254.19 159.93 Othe
Slide 30: For further information, please contact
For further information, please contact: Company: Investor Relations Advisors: (e)MUFG Waaree Renewable Technologies Ltd. MUFG Intime India Private Limited CIN: L93000MH1999PLC120470 www.waareertl.com (A part of MUFG Corporate Markets, a division of www.waareertl.com MUFG Pension & Market Services)
Waaree Renewable Technologies — Q1 FY26 Earnings Presentation on 6ix