What we do Waaree Renewable Technologies Limited specializes in solar power generation and EPC services, delivering turnkey renewable energy solutions, including floating, rooftop, and ground-mounted solar projects. |
Founded in 1,999 |
Market share A leading Indian solar EPC player with strong execution and a large 3,263 MWp order book amid a growing renewable energy market. |
Problem solved Enables large-scale clean energy generation, addressing energy transition and reducing dependency on fossil fuels in India. |
Top clients or who we serve Serves government bodies, developers, and private sector clients primarily in India; functions as B2B solar EPC and power generator. |
Key management Pujan Pankaj Doshi (Managing Director) – seasoned leader in solar EPC; supported by experienced directors with engineering and financial expertise. |
Our journey and innovations Founded as Sangam Renewables in 1999; rebranded 2021; executed over 4.56 GWp projects including pioneering floating solar installations in 2024. |
Where we operate Primarily operates in India, with portfolio across Maharashtra, Rajasthan, Andhra Pradesh, Tamil Nadu, Madhya Pradesh, and more. |
Top products or what we offer Engineering, procurement, and construction (EPC) services for solar projects; rooftop, floating, and ground-mounted solar plants; power sale. |
Top brands - |
Raw materials needed Solar modules, inverters, transformers, mounting structures, cables, and balance-of-system components. |
Raw materials supplier Procures from domestic and international vendors following strict quality procedures; part of Waaree Group ecosystem. |
Recurring vs cyclical contribution Majority revenue from EPC contracts (project based, cyclical); power generation provides recurring revenue stream. |
Our industry position One of India’s top-tier solar EPC providers with expanding order book and trusted by leading clients and lenders. |
Financial highlights FY25 revenue Rs.1597.75 crore; profit after tax Rs.229.16 crore; EBITDA margin ~19.5%; strong revenue and profit growth over recent years. |
Geographical revenue split Revenue mainly from Indian solar projects across multiple states with growing national footprint. |
Order book Unexecuted order book stands at 3,263 MWp as of 2025, reflecting robust demand and project pipeline. |
Whats driving growth Growth fueled by India’s renewable energy policies, large-scale solar capacity additions, and strong government incentives. |
Our future plans Expand EPC market share domestically and internationally; grow O&M services; invest in large-scale solar and storage projects. |
Our green promise Committed to environmental sustainability through renewable power generation and safe, compliant project execution. |
Our people and values Workforce of 382 employees focused on quality, safety, innovation, and corporate governance. |
Key challenges ahead Execution risks, regulatory changes, supply chain dependencies, and competition in solar EPC market. |
Interesting facts Operated India’s significant floating solar projects at Omkareshwar and Ramagundam with over 300 MW capacity commissioned in 2024-25. |
Risks and strategy Mitigates risks through strong project management, diversified order book, and adherence to regulatory and safety standards. |
