Waaree Solar EPC Revenue Soars 155% in Q1 FY26
Waaree Renewable Technologies, the engineering, procurement, and construction (EPC) arm of Waaree Group, reported staggering financial results for Q1 FY2026. The company’s consolidated revenue reached ₹6.03 billion (~$70.23 million), marking a 155.2% year-over-year surge from ₹2.36 billion (~$27.48 million). This remarkable Waaree Renewable Q1 FY26 Solar Growth demonstrates India’s accelerating clean energy transition.
Driving Forces Behind Waaree’s Explosive Growth
The solar EPC sector is experiencing unprecedented demand, fueled by utility-scale projects and commercial solar farms. Waaree’s successful execution of landmark projects like the 412 MW Rajasthan solar park establishes them as a execution-driven solar leader. Their integrated approach combines:
- Turnkey project delivery
- Technology partnerships
- Financing solutions
Grid Parity Transforms Energy Economics
With solar tariffs falling below ₹2.50/kWh, businesses are rapidly adopting photovoltaic solutions. Waaree’s EPC services now offer clients 40-60% energy cost reductions, with payback periods under 4 years – making solar the clear economic choice across India’s industrial sector.
Beyond Modules: Waaree’s Comprehensive Ecosystem
The company differentiates itself through value-added services that address critical industry challenges:
Energy Storage Solutions
Recognizing solar’s intermittent nature, Waaree now incorporates storage options in its EPC packages. This strategic move aligns with Hybrid Solar Systems becoming essential for 24/7 renewable energy supply.
Future Outlook and Challenges
Despite supply chain volatility impacting monocrystalline panel prices by 8% last quarter, Waaree’s vertical integration provides stability. With a ₹9 billion project pipeline and India targeting 500 GW renewables by 2030, the company is well-positioned for continued solar manufacturing growth.
Regulatory Tailwinds
Evolving net metering policies and government incentives are creating new opportunities in residential and commercial segments. Waaree’s Q1 performance underscores solar’s pivotal role in India’s energy future.
