Waaree Renewable Technologies Ltd · NSE:WAAREERTL
Waaree Renewable Technologies — Q2 & H1 FY26 Earnings Presentation
29 slides from Waaree Renewable Technologies's earnings presentation, Oct 10, 2025
Slide 1: Waaree Renewable Technologies Limited - Execution with Pace & Comfort
Execution with Pace & Comfort October 10, 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
Slide 2: Investor Presentation | Q2 & H1 FY26
- -== • - INVESTOR PRESENTATION | Q2 & H1 FY26 - Accelerating Global Energy Transition
Slide 3: Safe Harbor
Safe Harbor WAAREE/RTL 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
WAAREE/RTL Execution with Pace & Comfort Group Overview
Slide 5: Waaree Group – Vertically Integrated Operations
Waaree Group – Vertically Integrated Operations WAAREEIRTL & Execution with Pace Comfort #1 Indian Module Battery Energy Manufacturer Storage System Green Hydrogen- Products Exported In 24 Countries Electrolyser 35 Years of Manufacturing Industry Experience CARE A+, Stable ~11,400 17.65 GW Module Ca
Slide 6: Integrated Group Offerings
Integrated Group Offerings WAAREEIRTL & 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 Manufactur
Slide 7: Marquee Clientele & Stakeholder Relationships
Marquee Clientele & Stakeholder Relationships WAAREE/RTL & Execution with Pace Comfort Customers / Developers Developers • Trusted EPC partner for leading global Execution with Pace & Comfort Lenders to and domestic lenders. � ft • Strong credibility ensures smooth ArcelorMittal Reliance Industries
Slide 8: Industry Overview
WAAREEIRTL Execution with Pace & Comfort Industry Overview
Slide 9: Energy Transition
Energy Transition WAAREE/RTL Execution with Pace & Comfort Government Targets to Achieve Solar Power Global Projected Annual Solar PV Capacity Additions1, GW RE – Projected Installed Capacity India2, GW Capacity of ~280GW from 106GW in FY253 For setting up of 450 GW RE + 19 GW PSP and 42 GW BESS Ins
Slide 10: Supportive Government Policies Fueling Growth
Supportive Government Policies Fueling Growth WAAREE/RTL 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 June 2025 (MW)2 Rs Bn Sanctioned Capacity Capacity Commissioned Estimated market (in Rs. Bn) Esti
Slide 11: Company Overview
WAAREE/RTL Execution with Pace & Comfort Company Overview
Slide 12: Journey to Leadership in Solar EPC
Journey to Leadership in Solar EPC WAAREE/RTL Execution with Pace & Comfort Waaree RTL Expands Market Presence in India • Credit Rating upgraded: A, Revenue (Rs. Cr.) Stable (CARE) • Ground Mounted Solar Project – 1,598 1,218 MWp 1,378 • Ground Mounted Solar Project – 2025 435 MWp 876 • Ground Mount
Slide 13: Complete Solutions with Proven Experience
Complete Solutions with Proven Experience WAAREE/RTL 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 14: Comprehensive RE EPC and O&M Expertise
Comprehensive RE EPC and O&M Expertise….. WAAREE/RTL Execution with Pace & Comfort Key Financial Metrics Design and Engineering • Dedicated in-house design & engineering team of 30 professionals Rs. 1,597.75 Cr 19.46% 114.67% 14.33% • India based cost effective structure FY25 Revenue FY25 EBITDA FY2
Slide 15: …with end-to-end capabilities
…with end-to-end capabilities WAAREE/RTL 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 16: Major EPC Accomplishments
Major EPC Accomplishments WAAREEIRTL Execution with Pace & Comfort 3.95 GWp 3,481 MWp 59.26 MWp ~769 MWp 2.29 MWp 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 Commis
Slide 17: Large Order Book with Strong Execution
Large Order Book with Strong Execution WAAREE/RTL 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) 1,524 1,598 1,621 3,263 3,481 1,378 2,365 876 704 817 295 351 2023 202
Slide 18: Key Ongoing Projects
Key Ongoing Projects WAAREE/RTL Execution with Pace & Comfort •4t., . . t. ')- - ... 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, Rajas
Slide 19: Future Strategy
Future Strategy
Slide 20: Key Strengths
Key Strengths WAAREE/RTL 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 21: Unique Propositions
Unique Propositions WAAREE/RTL 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 22: Growth Strategy – Energy Transition
Growth Strategy – Energy Transition WAAREE/RTL Execution with Pace & Comfort Energy Transition Renewable Storage O&M Solar Wind Hybrid Green Hydrogen Battery Pumped Hydro Services Rooftop Floating Ground Mounted Solar Parks Achieve higher growth in the EPC segment Expand in O&M markets • Evaluating
Slide 23: Experienced Board & Management
Experienced Board Management WAAREE/RTL Execution with Pace & Comfort Mr. Nilesh Bhogilal Gandhi Mr. Pujan Pankaj Doshi Mr. Hitesh Pranjivan Mehta Chairman & Non-Executive Independent Director Managing Director Whole Time Director With over three decades of experience in He combines engineering expe
Slide 24: Strong Leadership Team
Strong Leadership Team WAAREE/RTL Execution with Pace & Comfort Mr. Manmohan Sharma Mr. Ravikesh Singh Chief Financial Officer Chief Operating Officer-EPC He is a Chartered Accountant with 30 years of experience in Project Finance, Accounts, Working Capital Management, Banking, Cash Flow Management,
Slide 25: Financial Highlights
Financial Highlights
Slide 26: Robust Financial Performance
Robust Financial Performance WAAREE/RTL Execution with Pace & Comfort (Consolidated) (Rs. in Cr) Revenue EBITDA & EBITDA Margin PAT & PAT Margin 13.65% 20.39% 10.20% 15.02% 47.73% 120.69% 117.40% 774.78 157.94 116.34 524.47 71.57 53.52 Q2FY25 Q2FY26 Q2FY25 Q2FY26 Q2FY25 Q2FY26 Revenue EBITDA & EBITD
Slide 27: Consolidated Income Statement
Consolidated Income Statement WAAREE/RTL Execution with Pace & Comfort Particulars (Rs. Cr) Q2FY26 Q2FY25 Y-o-Y Q1FY26 Q-o-Q H1FY26 H1FY25 Y-o-Y Revenue from Operations 774.78 524.47 603.19 1,377.97 760.82 Total Revenue 774.78 524.47 47.73% 603.19 28.45% 1,377.97 760.82 81.12% Cost of EPC contract 5
Slide 28: Consolidated Balance Sheet and Cash Flow Statement
Consolidated Balance Sheet and Cash Flow Statement WAAREE/RTL Execution with Pace & Comfort Particulars (Rs. Cr) H1FY26 H1FY25 Shareholders' Funds 657.62 318.15 Non-Current Liabilities 105.05 49.73 Current Liabilities 688.78 635.74 Total Equity & Liabilities 1,451.45 1,003.62 Fixed Assets 377.50 160
Slide 29: 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)
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