Waa Solar Ltd. · BSE:WAA
Waa Solar — H1 FY2026-27 Earnings Presentation
18 slides from Waa Solar's earnings presentation, Oct 30, 2026
Slide 1: Investor Presentation H1 FY2026-27
INVESTOR PRESENTATION H1 FY2026-27 Half Year ended September 30, 2026 WAA SOLAR LIMITED BSE SME Scrip Code: 541445 · CIN: L40106GJ2009PLC076764 Madhav House, Subhanpura, Vadodara 390023, Gujarat
Slide 2: Disclaimer: Safe Harbour
DISCLAIMER Safe Harbour This presentation and the accompanying slides (the Certain statements in this Presentation concerning future “Presentation”) have been prepared by Waa Solar Limited (the business prospects and growth are forward-looking “Company”) solely for information purposes and do not st
Slide 3: Contents
INSIDE THIS PRESENTATION Contents Company Overview 01 Profile, leadership and shareholding Quarterly Overview 02 H1 FY27 highlights and key developments Financial Performance 03 Quarterly P&L, trends and balance sheet Business & Strategy 04 Projects, group structure and industry outlook Waa Solar Li
Slide 4: Company Overview
01 Company Overview Profile, leadership and shareholding
Slide 5: About Waa Solar Limited
COMPANY OVERVIEW About Waa Solar Limited Part of the Madhav Group — a pan-India conglomerate in renewable energy, infrastructure and real estate — Waa Solar generates solar power through its own projects and through SPVs, subsidiaries and associates, and is preparing to enter solar EPC. 2009 541445
Slide 6: Board of Directors & Leadership
COMPANY OVERVIEW Board of Directors & Leadership Mr. Amit Khurana Mrs. Neelakshi Khurana Mr. Nikhil Kaushik AK Chairperson & MD NK Executive Director NK Independent Director BBA; 20+ years in construction 20+ years in administration, HR MBA (ISB), MS (Texas A&M); ex- and EPC; led the Group’s move an
Slide 7: Quarterly Overview
02 Quarterly Overview H1 FY2026-27 highlights and key developments
Slide 8: Key Developments During the Quarter
QUARTERLY OVERVIEW Key Developments During the Quarter Corporate & Governance Projects & Execution Financing & Other Audited FY2025-26 standalone and 48.15 MW feeder-level solarisation, Credit rating of IND BBB+ by CARE. consolidated financial statements Madhya Pradesh (PM-KUSUM C): adopted; auditor
Slide 9: Financial Performance
03 Financial Performance Quarterly results, trends and balance sheet
Slide 10: Standalone Profit & Loss Statement
FINANCIAL PERFORMANCE · ₹ LAKHS Standalone Profit & Loss Statement Particulars H1 FY27 H1 FY26 H2 FY26 FY26 (A) Revenue from Operations 1679.46 853.42 1863.88 2,717.30 Other Income 122.33 158.20 113.00 271.20 Total Income 1801.78 1011.63 1976.88 2,988.51 EBITDA 1230.59 773.05 1005.84 1,778.88 EBITDA
Slide 11: Consolidated Profit & Loss Statement
FINANCIAL PERFORMANCE · ₹ LAKHS Consolidated Profit & Loss Statement Particulars H1 FY27 H1 FY26 H2 FY26 FY26 (A) Revenue from Operations 1709.45 881.33 1895.78 2,777.12 Other Income 122.35 158.21 113.00 271.21 Total Income 1831.79 1039.54 2008.78 3,048.33 EBITDA 1254.48 790.98 1028.20 1,819.18 EBIT
Slide 12: Key Balance Sheet Items
FINANCIAL PERFORMANCE · ₹ LAKHS · (A) = AUDITED Key Balance Sheet Items Standalone Standalone Consolidated Particulars 30-Sep-26 31-Mar-26 (A) 30-Sep-26 31-Mar-26 (A) Net Worth 18,334.36 18,309.74 18,427.45 18,462.47 Long-term Borrowings 14,272.90 13,249.30 16,772.47 15,758.97 Short-term Borrowings
Slide 13: Financial Performance H1 FY2026 Key Figures
FIN A N CIAL PER FOR MA NCE · H 1 FY 20 26 - 27 · ₹ L A K H S STANDALONE 1,679.46 1,230.59 18,881.46 18,334.36 Revenue from Operations EBITDA Property, Plant & Equipment Net Worth +96.8% +59.2% Mar-26: 17,786.81 Mar-26: 18,309.74 CONSOLIDATED 1,709.45 1,254.48 19,321.40 38,481.44 Revenue from Operat
Slide 14: Business & Strategy
04 Business & Strategy Project portfolio, group structure and industry outlook
Slide 15: Project Portfolio Under Implementation
BUSINESS & STRATEGY Project Portfolio Under Implementation 48.15 MW 5.5 MW 7 SPVs Feeder-level solarisation, Madhya Mitana (1.5 MW) & Paddhari (4 MW), Surya Mitra Krishi Feeder Scheme, Pradesh Gujarat Madhya Pradesh Client Client Purpose Madhya Pradesh Urja Vikas Nigam Ltd. Paschim Gujarat Vij Compa
Slide 16: Strategic Priorities
BUSINESS & STRATEGY Strategic Priorities Our 2030 strategy: 300 MW across four avenues — Solar Standalone, Solar+BESS (FDRE), Standalone BESS and C&I Offtake — building India’s next integrated renewable platform. 300 MW by 2030 FDRE Revenue Model BESS Manufacturing Four avenues — Solar Standalone, S
Slide 17: Strong Policy Tailwinds for Indian Solar
BUSINESS & STRATEGY · INDUSTRY OUTLOOK Strong Policy Tailwinds for Indian Solar 150.26 GW 44.61 GW 500 GW 1 Crore India’s installed solar Solar capacity added in Non-fossil capacity target Households targeted under capacity, Mar-26 FY2025-26 by 2030 PM Surya Ghar 34,800 MW ₹2,600 Cr ₹24,000 Cr ~45 G
Slide 18: Thank You
THANK YOU WAA SOLAR LIMITED INVESTOR RELATIONS REGISTERED OFFICE Ms. Mansi Heda, Company Secretary & Compliance Officer Madhav House, Near Panchratna Building, Subhanpura, investors@waasolar.in · +91 265 2290722 Vadodara 390023 · waasolar.in