Waaree Energies Limited (BOM:544277)

Waaree Energies Income Statement

Financials in millions INR. Fiscal year is April - March.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec 31, 2025	Mar 31, 2025	Mar 31, 2024	Mar 31, 2023	Mar 31, 2022	Mar 31, 2021
Operating Revenue	220,605	144,445	113,976	67,509	28,543	19,528
Other Revenue	2,638	-	-	-	-	-
Revenue	223,243	144,445	113,976	67,509	28,543	19,528
Revenue Growth (YoY)	66.89%	26.73%	68.83%	136.52%	46.16%	-2.15%
Cost of Revenue	145,485	105,249	90,155	53,177	23,949	16,659
Gross Profit	77,758	39,196	23,822	14,332	4,594	2,869
Selling, General & Admin	22,575	11,980	8,053	5,986	3,534	2,019
Other Operating Expenses	-0.1	-0.1	-10	-30.53	-32.13	-38.15
Operating Expenses	30,999	16,004	10,811	7,596	3,935	2,267
Operating Income	46,759	23,192	13,011	6,736	658.76	601.81
Interest Expense	-2,262	-889.1	-1,240	-694.42	-360.62	-240.43
Interest & Investment Income	3,663	3,663	1,506	509.04	93.35	175.12
Currency Exchange Gain (Loss)	47.4	47.4	485.2	475.41	257.91	159.55
Other Non Operating Income (Expenses)	-493.4	-493.4	-131.8	-119.17	423.75	-39.29
EBT Excluding Unusual Items	47,714	25,520	13,630	6,906	1,073	656.76
Gain (Loss) on Sale of Investments	166.5	166.5	323.4	70.82	6.41	3.71
Gain (Loss) on Sale of Assets	-	-	-	-	104.17	12.54
Asset Writedown	-	-	-24.8	-	-	-0.53
Other Unusual Items	-2,988	-40.2	3,413	-205.8	-	40.56
Pretax Income	44,893	25,646	17,342	6,772	1,184	713.04
Income Tax Expense	10,869	6,365	4,598	1,769	387.23	237.85
Earnings From Continuing Operations	34,024	19,281	12,744	5,003	796.5	475.19
Minority Interest in Earnings	-1,332	-607.4	-372	-175.17	-40.11	9.89
Net Income	32,691	18,674	12,372	4,828	756.39	485.08
Net Income to Common	32,691	18,674	12,372	4,828	756.39	485.08
Net Income Growth	91.17%	50.94%	156.27%	538.24%	55.93%	8.95%
Shares Outstanding (Basic)	288	274	257	221	197	197
Shares Outstanding (Diluted)	289	275	259	224	197	197
Shares Change (YoY)	7.58%	6.30%	15.51%	13.52%	-0.00%	-
EPS (Basic)	113.34	68.24	48.05	21.82	3.84	2.46
EPS (Diluted)	113.04	67.96	47.86	21.57	3.84	2.46
EPS Growth	77.71%	42.00%	121.88%	462.18%	55.93%	8.95%
Free Cash Flow	-	-1,159	9,627	6,948	2,015	-1,302
Free Cash Flow Per Share	-	-4.22	37.24	31.05	10.22	-6.60
Gross Margin	34.83%	27.14%	20.90%	21.23%	16.09%	14.69%
Operating Margin	20.95%	16.06%	11.42%	9.98%	2.31%	3.08%
Profit Margin	14.64%	12.93%	10.85%	7.15%	2.65%	2.48%
Free Cash Flow Margin	-	-0.80%	8.45%	10.29%	7.06%	-6.67%
EBITDA	50,244	26,801	15,666	8,272	1,009	838.57
EBITDA Margin	22.51%	18.55%	13.74%	12.25%	3.53%	4.29%
D&A For EBITDA	3,486	3,609	2,655	1,536	349.93	236.76
EBIT	46,759	23,192	13,011	6,736	658.76	601.81
EBIT Margin	20.95%	16.06%	11.42%	9.98%	2.31%	3.08%
Effective Tax Rate	24.21%	24.82%	26.52%	26.12%	32.71%	33.36%
Revenue as Reported	227,259	148,461	116,328	68,604	29,509	19,934
Advertising Expenses	-	779.1	326.2	205.73	91.94	64.88

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.