Waaree Renewable Technologies Ltd (WAAREERTL) Q2FY27 Concall Summary - Sep-2026 Qtr
Key Takeaways
- The Q2 solar EPC execution slowdown to 456 MWp was due to client-side land handover delays, which management views as a temporary issue.
- Management affirmed consolidated EBITDA margin guidance of over 15% for FY27, despite the dilutive impact from the newly acquired T&D business.
- The company will prioritize reducing the acquisition-related debt that significantly increased finance costs and leverage in the reported quarter.
Performance Overview
- Waaree Renewable Technologies Ltd reported strong year-over-year revenue growth of 36.53% in Q2 FY27.
- The company secured significant new orders of 1.7 GWp, bolstering its unexecuted order book to over 5,500 crores.
- Execution of solar EPC projects was lower this quarter at 456 MWp, attributed to customer-side delays in land handover.
- The business is diversifying, with the Transmission & Distribution (T&D) and Battery Energy Storage Systems (BESS) segments becoming significant contributors.
- The company is strategically evolving from a pure-play solar EPC provider to a broader energy transition platform, including IPP and O&M services.
Financial Metrics
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Operating Performance / Business Segments
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Key Discussions & Insights
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Outlook and Guidance
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Challenges / Concerns
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Industry / Competitive Landscape
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Overall Summary
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Tone & Disclosure
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