Waaree Energies Limited · NSE:WAAREEENER
Waaree Energies — Investor Day (February 2025)
25 slides from Waaree Energies's investor day presentation, Feb 28, 2025
Slide 1: Exchange filing cover letter: Investor Day presentation
February 28, 2025 To To The Manager, The Manager, Listing Department Listing Department BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers Exchange Plaza, C-1 Block G, Dalal Street, Bandra - Kurla Complex, Bandra (East) Mumbai - 400 001 Mumbai - 400 051 Scrip Code: 544277
Slide 2: Waaree Energies Limited Investor Day Presentation
ACCELERATING GLOBAL ENERGY TRANSITION WAAREE ENERGIES LIMITED Investor Day Presentation
Slide 3: Safe Harbor
Safe Harbor This presentation and the accompanying slides (the “Presentation”), which have been prepared by Waaree Energies Limited (WEL) (the “Company’), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any
Slide 4: Company Overview
Company Overview One with the Sun
Slide 5: Locally built, globally competitive – Giga scale manufacturing at its best
Locally built, globally competitive – Giga scale manufacturing at its best Aggregate Installed 2007: 30MW Historical Growth 2021: 2GW 2023: 12GW Present: ~15GW 2 Capacity (Module) 2024 - 2027 • 6GW integrated expansion expected to commence commercial operations in 2021 – 2023 FY27 • Listed on BSE &
Slide 6: Industry Highlights
Industry Highlights One with the Sun
Slide 7: Energy Transition opportunity led by solar is immense
Energy Transition opportunity led by solar is immense | Industry to double by end of this decade Global RE capacity (TW) 16% 12% 9.8 5.8 76% Global RE 10% 4.2 4.9 Of global RE capacity 2.4 additions in 2023 were solar capacity to 0.4 1.6 2.1 3.9 grow to 9.8 2.0 2.6 2.8 TW by 2030 2017 2023 Non-solar
Slide 8: Backed by strong growth in global battery capacity
Backed by strong growth in global battery capacity Global battery energy capacity (GWh) 4064.0 Global battery energy 1296.0 21% 4 TWh 53% Projected global battery capacity to 99.6 capacity in 2030 grow to 4 TWh by 2030 2018 2024 2030 India battery energy capacity (GWh) 177.0 30% 177 GWh India batter
Slide 9: Supported by Indian government push with policies and incentives
Supported by Indian government push with policies and incentives …with key developments in the last few Favorable policy framework… months Supply-side measures Solar Approved List of Models and Manufacturers (ALMM) ALMM solar cell: MNRE mandates solar cells in projects must be from the approved
Slide 10: Waaree - Key Highlights
Waaree - Key Highlights One with the Sun
Slide 11: Waaree's Strategic Edge Enabling Value Creation
Waaree’s Strategic Edge Enabling Value Creation Largest Player – Scale, Demand & Largest Retail Network Diversified Customer Base Integration Ahead of Technology Curve & 2 In- Highest rated Bankability of Global Certifications & Assurance house NABL Labs Products & BNEF Tier 1 Rating Largest Product
Slide 12: India's Largest Player in Scale, Demand, and Integration
India’s Largest Player in Scale, Demand, and Integration Largest PV Module manufacturer Largest Order book in the Industry On path of becoming Largest Solar Cell With Clear pathway for next few years manufacturer “3X of Nearest competitor in India” ~15 GW 5.4 GW 26.5 GW | ~₹ 50K Cr Manufacturing cap
Slide 13: Largest Retail network in the Industry
Largest Retail network in the Industry coupled by authorized sales point and digital platform 400+ 1000+ ASPs Franchisees Indosolar Noida Surat Chikli Tumb Nandigam Digital Platform 28 ‘Waaree Experts’ states Above chart is graphical representation only. ASP – Authorized sales point 11
Slide 14: Diversified Customer base & Robust Revenue Mix from Marquee Clients
Diversified Customer base & Robust Revenue Mix from Marquee Clients Diversified Order book Robust Revenue mix2 Order book1: 26.5 GW ~₹ 50K Cr 46.0% 54.0% >80% Overseas India Overseas Domestic (Retail, EPC & Enterprise) 1. As on 30.01.2025 for WEL solar manufacturing + WRTL; India and overseas split
Slide 15: Ahead of Technology Curve & In-house Lab testing
Ahead of Technology Curve & In-house Lab testing • Integrated manufacturing facilities with automated Leading the technology roadmap in India for higher efficiency production lines Waaree amongst the earliest domestic player to achieve 545WP + and 600Wp + module power • Wide array of technologically
Slide 16: Advanced manufacturing facilities, global certifications and prestigious awards
Advanced manufacturing facilities, global certifications and prestigious awards Certifications 3rd party audits Awards/Accreditations Publisher's pick, PV REI company of the Largest Solar PV magazine award 2024 year, REI expo 2024 Module Manufacturer, MNRE 2024 ALMM listing 3rd party insurance ZEE R
Slide 17: Achieved Highest Ratings in 'Bankability of PV Modules'
Achieved Highest Ratings in ‘Bankability of PV Modules’ over last 2 decades Highest Achiever” across performance, reliability, and quality test categories, solidifying our position as the only Indian company to receive this prestigious honour Top Performer PVEl’s Scorecard identifies top performing
Slide 18: Enabling energy transition with full stack of products and services
Enabling energy transition with full stack of products and services Solar PV module Green Hydrogen TopCon Bifacial BIPV Flexible Electrolyser Green Hydrogen products Solar related products Battery Inverters Solar kit Cell Battery Container EPC and O&M Renewable power Ground Rooftop Floating Renewabl
Slide 19: Consistent Financial discipline and proven track record
Consistent Financial discipline and proven track record Revenue (Rs Cr) EBIDTA Margin (%) PAT Margin (%) 12% 11,633 19.3% 11.00% 10,705 15.6% 13.8% 7.30% 6,860 6.3% 6.9% 2,946 2.70% 1,993 2.40% FY 21 FY 22 FY 23 FY 24 9M FY 25 FY 21 FY 22 FY 23 FY 24 9M FY 25 FY 21 FY 22 FY 23 FY 24 9M FY 25 Cash Co
Slide 20: Prudent Capital allocation Policy
Prudent Capital allocation Policy intending towards Value accretive and sustainable Capital returns • Funds = Available Cash & Cash + Available Term credit facilities = Overall Availability of Funds equivalents* Availability 7900 Cr. 7400 Cr. 15,300 Cr. • Funds Amount committed for 6GW + Amount comm
Slide 21: Continuous capacity expansion to meet future solar demand
Continuous capacity expansion to meet future solar demand Strong growth in production… …backed by capacity expansion Module Cell Ingot-wafer Module production (GW) 48% 5.07 13.3 GW Present capacity India 5.4 GW 1 3.42 India 1.6 GW 2 USA capacity Future 6 GW 6 GW 6 GW PLI awarded PLI awarded PLI awar
Slide 22: Strategic investments powering a diversified green energy portfolio
Strategic investments powering a diversified green energy portfolio Renewable power Battery energy Green Hydrogen infrastructure storage system electrolyser mfg. Inverters Renewable Renewable Lithium-ion storage cell, and Awarded PLI for a 300MW Investment in renewable power power power energy stora
Slide 23: Accomplished Board of Directors
Accomplished Board of Directors Dr. Hitesh Chimanlal Doshi Viren Chimanlal Doshi Hitesh Pranjivan Mehta Dr. Amit Paithankar Chairman & MD Whole Time Director Whole Time Director Whole Time Director and CEO of Waaree • Founded the Group in 1990 and has • Associated with the Company since • Associated
Slide 24: Experienced senior management team
Experienced senior management team Dr. Amit Paithankar Sunil Rathi Jignesh Rathod Aditya Agarwal Anuj Sharma Whole Time Director and CEO Director Sales Director Operations CEO, Battery CEO, Hydrogen of Waaree Energies Limited • 27+ years of expertise with • Responsible for overseeing • Responsible f
Slide 25: THANK YOU
THANK YOU Waaree Energies Limited CIN: L29248MH1990PLC059463 Name –Mr. Rohit Wade Mr. Nikunj Jain Ms. Pooja Swami Title – General Manager-Investor Relations +91 9769060608 +91 9860202359 Email – rohitwade@waaree.com nikunj.jain@in.mpms.mufg.com Pooja.swami@in.mpms.mufg.com