Waaree Renewable Q2 FY27 consolidated revenue Rs 1,057.84 cr

What the numbers show

• Net margin was 7.70% of revenue, down 731 bps from 15.02%.
• Total expenses rose 54.5% while revenue rose 36.5%.
• Cost of materials took 63.7% of revenue, against 76.4% a year earlier.

• Basis: Consolidated statement of unaudited financial results for the three months ended 30-09-2026, with comparatives for the three months ended 30-09-2025.

• Revenue from operations: Rs 1,057.84 cr (Q2 FY27) vs Rs 774.78 cr (Q2 FY26), as per the statement of financial results.

• Other income: Rs 9.18 cr vs Rs 4.43 cr.

• Total income: Rs 1,067.02 cr vs Rs 779.21 cr.

• Cost of EPC contracts: Rs 673.48 cr vs Rs 591.65 cr.

• Changes in inventories of finished goods, stock in trade and work in progress: Rs 135.70 cr (current quarter; no corresponding figure disclosed for the three months ended 30-09-2025 in the statement of financial results).

• Employee benefits expense: Rs 33.30 cr vs Rs 13.19 cr.

• Finance costs: Rs 36.83 cr vs Rs 3.62 cr.

• Depreciation & amortization expense: Rs 26.97 cr vs Rs 2.18 cr.

• Other expenses: Rs 55.38 cr vs Rs 11.99 cr.

• Total expenses: Rs 961.66 cr vs Rs 622.63 cr.

• Profit/(loss) before exceptional items and tax (PBT): Rs 105.36 cr vs Rs 156.58 cr.

• Profit/(loss) before tax: Rs 105.36 cr vs Rs 156.58 cr.

• Current tax: Rs 27.53 cr vs Rs 39.17 cr.

• Deferred tax charge/(credit): Rs (3.65) cr vs Rs 1.05 cr.

• Net profit/(loss) for the period (PAT): Rs 81.48 cr vs Rs 116.36 cr.

• Profit/(loss) attributable to non-controlling interest: Rs 7.59 cr vs Rs 0.05 cr.

• Profit/(loss) attributable to owners of the parent: Rs 73.89 cr vs Rs 116.31 cr.

• Paid-up equity share capital (face value Rs 2 each): Rs 20.88 cr vs Rs 20.85 cr.

• Earnings per equity share – Basic (not annualised): Rs 7.07 vs Rs 11.16.

• Earnings per equity share – Diluted (not annualised): Rs 7.07 vs Rs 11.13.

For Q2 FY27, consolidated revenue from operations and total income increased compared with the same quarter in the previous year, as shown in the statement of financial results. Cost of EPC contracts, employee benefits expense, finance costs, depreciation & amortization expense and other expenses were all higher year-on-year, and total expenses rose from Rs 622.63 cr to Rs 961.66 cr.

Profit before tax for the quarter ended 30-09-2026 was Rs 105.36 cr against Rs 156.58 cr a year earlier, with current tax at Rs 27.53 cr versus Rs 39.17 cr and a deferred tax credit of Rs (3.65) cr compared with a deferred tax charge of Rs 1.05 cr. Net profit for the period was Rs 81.48 cr, down from Rs 116.36 cr in the corresponding quarter of the previous year, and profit attributable to owners of the parent moved from Rs 116.31 cr to Rs 73.89 cr. Basic earnings per share for the quarter were Rs 7.07 compared with Rs 11.16 in the year-ago quarter, on a slightly higher paid-up equity share capital of Rs 20.88 cr versus Rs 20.85 cr.