Execution with Pace & Comfort

April 16, 2025

To To
The Manager The Manager
BSE Limited, National Stock Exchange of India Limited
Phiroze Jeejeebhoy Towers, Exchange Plaza, C-1 Block G,
Dalal Street, Fort, Bandra - Kurla Complex, Bandra (East)
Mumbai-400001 Mumbai - 400 051
Scrip Code: 534618 Scrip Symbol: WAAREERTL

Sub.: Investors / Earnings Presentation under Regulation 30 of SEBI (Listing

Obligations and Disclosure Requirements) Regulations, 2015.

Dear Sir / Madam,

With reference to Regulation 30 of the SEBI (Listing Obligations and Disclosure

Requirements) Regulations, 2015, please find enclosed the Investors/ Earnings
Presentation for the Quarter and Financial Year ended March 31, 2025. The Company will
use this presentation for any meeting scheduled with analysts or institutional investors.
The above information will also be available on the website of the Company at
www.waareertl.com

Request to kindly take this intimation on record.

Thanking you,

Yours faithfully,

For Waaree Renewable Technologies Limited

Digitally signed by
HEEMA HEEMA

KALPESHKU KALPESHKUMAR
SHAH
MAR SHAH Date: 2025.04.16
17:27:24 +05'30'

Heema Shah
Company Secretary
ACS 52919
Email Id: [email protected]

Waaree Renewable Technologies Limited

(A subsidiary of Waaree Energies Limited)
504, Western Edge-1, Off. Western Express Highway, Tel.: +91 22 6644 4444 CIN : L93000MH1999PLC120470
Borivali (E), Mumbai 400 066. Maharashtra INDIA E : [email protected] GST: 27AADCS 1824J2ZB
W : www.waareertl.com
 INVESTOR PRESENTATION
Accelerating Global Energy Transition
Q4 & FY25
Safe Harbor
This presentation and the accompanying slides (the “Presentation”), which have been prepared by Waaree Renewable Technologies Limited (the “Company’),
have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securities,
and shall not form the basis or be relied on in connection with any contract or binding commitment whatsoever. No offering of securities of the Company will be
made except by means of a statutory offering document containing detailed information about the Company.

This Presentation has been prepared by the Company based on information and data which the Company considers reliable, but the Company makes no
representation or warranty, express or implied, whatsoever, and no reliance shall be placed on the truth, accuracy, completeness, fairness and reasonableness of
the contents of this Presentation. This Presentation may not be all inclusive and may not contain all of the information that you may consider material. Any
liability in respect of the contents of, or any omission from, this Presentation is expressly excluded.

Certain matters discussed in this Presentation may contain statements regarding the Company’s market opportunity and business prospects that are individually
and collectively forward-looking statements. Such forward-looking statements are not guarantees of future performance and are subject to known and unknown
risks, uncertainties and assumptions that are difficult to predict. These risks and uncertainties include, but are not limited to, the performance of the Indian
economy and of the economies of various international markets, the performance of the industry in India and world-wide, competition, the Company’s ability to
successfully implement its strategy, the Company's future levels of growth and expansion, technological implementation, changes and advancements, changes in
revenue, income or cashflows, the Company's market preferences and its exposure to market risks, as well as other risks. The Company's actual results, levels of
activity, performance or achievements could differ materially and adversely from results expressed in or implied by this Presentation. The Company assumes no
obligation to update any forward-looking information contained in this Presentation. Any forward-looking statements and projections made by third parties
included in this Presentation are not adopted by the Company and the Company is not responsible for such third-party statements and projections.

All Maps used in the Presentation are not to scale. All data, information and maps are provided "as is" without warranty or any representation of accuracy,
timeliness or completeness.

2
Group Overview
Vertically Integrated Operations

CARE A+, Stable

Credit Rating
32 Years of
Industry Experience
~26.5 GW | ~50k cr.
(Order Book)
~15 GW Module Capacity &
5.4 GW Cell Capacity
Battery Energy
Storage System
TIER 1 Solar Module
Manufacturer
Green Hydrogen-
Electrolyser
manufacturing
#1 Indian Module
Manufacturer
~10,000 Employees
Globally
Products Exported
In 26 Countries
400+ Franchises
across India

4
Integrated Energy Offerings

Green Hydrogen-
Solar Floating Off Grid Lithium Ion
O&M Services Electrolyser
Modules Solar Inverters Batteries
manufacturing
01 03 05 07 09 11

02 04 06 08 10 12

EPC Services Rooftop On Grid BESS Solar Products Solar

Solutions Inverters Water Pump, Street Lights Partners

5
Marquee Clientele & Stakeholder Relationships
Problem
Lenders to Developers ConsultantsProblem
/ Owners’ Engineers Problem
Suppliers
• Strong relationship with a multitude of global lenders • Strong relationship with renowned consultants and • Strong relationship with diversified group of local
- both state-owned and private engineers engaged by developers and global suppliers of modules and other raw
• Lenders rely on Waaree’s credibility as an EPC player • Their certification provides additional assurance to materials; critical to supply chain success
to finance projects customers • Helps Company get significant cost benefits in
sourcing materials

Strong relationship makes Solid reputation across Strengthening the

Company a leading player Other stakeholders Relationship

Customers / Developers

• Strong relationship with top strategic developers and customers

• Manages the complete supply chain thereby reducing the number of service providers customer has to engage with and optimize solution
6
Industry Overview
Global Energy Transition

Projected annual Solar PV capacity additions1, GW …driven by RE – Projected Installed Capacity2, GW

Net Zero For setting up of 450 GW RE + 19 GW PSP and 42 GW BESS

Carbon emission commitment globally to necessitate incremental debt of ~Rs 14 lakh crore
539.6
493.9
459.2
402.3 421.7 500
450
400
Solar PV
Declining levelized cost of energy 246 254 279 262 262 276
191

Green Hydrogen / Green Ammonia FY23 (A) FY 27 FY 30 (I) FY30(II) CEA (E)
CY24P CY25P CY26P CY27P CY28P To fuel solar capacity Fossil RE+Hydro

Solar capacity additions in India ~125-130 GW

Break-up of the total installed capacity - FY24 vs FY30E3
over Fiscals 2025-20291

FY24 FY30E

38 - 39 40 - 41 6% Natural Gas 4% Natural Gas

4% 0% 3% 0% Diesel
30 - 31 Diesel
28 - 29 35% Coal
24 - 25 19% Coal
48% Nuclear 35% Nuclear
13 15 Hydro
Hydro
10% 2% Wind
Wind 8%
12% 2% Solar
Solar 14%
Others
FY23 FY24 FY25P FY26P FY27P FY28P FY29P Others
Source: 1:Crisil Report, 2:Energy Storage Care EDGE Report ,3:CEA, Nuvama Research
8
Indian Energy Transition

Government targets to achieve solar power capacity of ~280GW from 100GW in FY25TD (23% CAGR over FY25–30E)1

Installed Capacity in (GW)

280

23%

36% 100
67 82
40 54
22 28 35
7 12

FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25 TD 2030E

Estimated ground-mounted, rooftop and off-grid/KUSUM solar projects to drive solar capacity additions1 (GW)

Ground mounted solar Off-grid solar/KUSUM Residential rooftop solar

Grid connected solar rooftop Hybrid projects solar component

146
131
117
103
89 48
76 41
64 3 6 34 35
21 27 28
16 3 15 9 21 12 9 11
3 12 3 6 10 5 6 7 15 18
FY24 FY25E FY26E FY27E FY28E FY29E FY30E

Source: 1:MNRE, Nuvama Research

9
Supportive Government Policies Fueling Growth
India-EPC services demand across solar energy Market potential of Indian O&M in solar1 State wise solar park approved capacity (MW)2

Estimated O&M market for 3rd party (GW) 12150 Sanctioned Capacity Projects commissioned

Estimated market (in Rs. Bn)

1705

+23.03% 73.0 8276

+23%

708 4200 4180

605 3730
25.5 3065 3050
2500
16.8 2000
Rs Bn 1000 1000
5.8 900
341

FY23 FY24F FY28F 2022-23 2029-30 Gujarat Rajasthan Andhra Madhya Uttar Pradesh Karnataka Maharashtra
Pradesh Pradesh

Key initiatives by GOI for development of solar energy/ capacity

Solar Parks PLI Scheme Rooftop Solar Energy Storage3 Others

• Solar Park policy released in • Govt backed initiative to • PM Surya Ghar Muft Bijli Yojana Storage Needs: • Min. Domestic content
Sep2014. promote domestic mfg of Solar Proposed outlay of 75k Cr for
• FY24: ~12 GW of energy storage requirement
required (4 hours of storage per GW).
• GOI has approved 58 solar parks PV modules crore households in India • FY30: Projected increase to ~70 GW of • BCD on solar modules raised
with aggregate capacity of • Rs 24,000 Cr outlay under the PLI • Providing 300 units of free storage capacity. from 25% to 40%
~40GW scheme in two tanches electricity everymonth Government Initiative – VGF Scheme: • Approved list of models &
• Aggregate capacity of 10GW • Objective: Develop 4 GWh of BESS by manufacturers to ensure quality
have been commissioned in 20
FY31. & performance of modules in
• Cost Reduction Goal: Lower levelized India
Solar Parks cost of storage (LCoS) from ~Rs 11/kWh
to Rs 5.50-6.60/kWh.

`
Source: Crisil Report, 1: saurenergy.com 2: pib.gov.in 3:Energy Storage Care EDGE Report
10
Company Overview
Journey to Leadership in Solar EPC
Waaree RTL Expands Market Presence in India

1598 • Credit Rating upgraded: A,

Stable (CARE)
115% • Ground Mounted Solar
Project - 255 MWp
876 2025 • Turnkey EPC Project-105 MWp
Revenue (Rs. Cr) • 40 MWh Battery Storage
351 System
162

2022 2023 2024 2025 • GW Scale Project

2024 ▪ Jindal Renewables – 2012.47 MWp
▪ Greenko - 980 MWp
• Turnkey Solutions NEEPCO - 450 MWp
• MNC Customer Acciona Energy – 412 MWp

n ce 2023
ex p e r i e • AM Green - 296 MWp

of EPC
• DRPL Tuticorin - 153 MWp
• Continuum Project- 150 MWp

2022
• Cello Industries Rooftop Project
2021
• EPC Division carved out in Waaree RTL
• Continuum Project – 140 MWp
• Masaya Project - 210 MWp

12
Complete Solutions with Proven Experience

Engineering
Project Systems Electrical Structural & Civil Monitoring Evacuation
01

Procurement
PV Modules Inverters Structures Cables Transformers Other BOS
02

Construction
Road , Drainage &
Land Development Structure Control Room Evacuation of Power
03 Connectivity

Infrastructure
Testing and
Business Development Planning & Project Execution Project Maintenance
Commissioning
Development

13
Comprehensive RE EPC and O&M Expertise…..
Technologically advanced end to end solar solutions Key financial metrics

INR 1,597.75 Cr 19.46% 114.67% 14.33%

FY25 Revenue FY25 EBITDA FY22-25 FY25
from Operations margin Revenue CAGR PAT Margin
Utility scale solar projects
Rooftop solar projects Floating Solar Projects
(incl turnkey & BOS)

INR 454.95 Cr INR 78.76 Cr 65.29% 61.94%

FY25 Net Worth FY25 Cash & Cash FY25 ROE FY25 ROCE
Equivalents

Solar + energy storage RESCO & CAPEX Models

Design and Engineering Procurement Inspection & Audit Construction Field quality monitoring O&M service EHS & Quality Procedure
• Dedicated in-house • Selection of vendors after • 3-stage audit process • Final inspection and • Centralized monitoring • Long Term O&M • Ensures EHS compliance,
design & engineering thorough due diligence including initial factory testing under the with efficient tracking of services for both providing safety training,
team of 31 people • Well-defined quality audit, production process supervision of project under-construction own customers, and support health &
• India based cost management procedures. audit and monitoring at manager to ensure new plants third-party projects wellness, control
effective structure vendor’s facility and pre- plant is safe and meets environment impacts, etc.
shipment inspection design objectives
14
…with end-to-end capabilities
In House Dedicated Capabilities

Installation & Power Evacuation End to End Land and Site Design Services
Commissioning Capabilities Identification

Adherence to Pre-Feasibility Expertise in Statuary Expert In House Design

EHS and Quality Studies & Liasoning & Procurement Team

Single Location Aggregated & Ready & Robust Evacuation Infrastructure Plug-n-Play Solution with proven
Developed Land on Free- Hold Basis (Transmission Line & GSS Bay) Expertise of Waaree’s EPC, Approvals
On Shared Basis & Asset Management Team

15
Major EPC Accomplishments

2.32 GW 3,263 MWp 58.55 MW

Project Commissioned Project site under (194 Project)
execution Roof Top Commissioned

~695 MW 2.29 MW R&D Team

O&M Portfolio of solar (3 Floating Solar In House R&D team
power plant assets Projects) for New Technology
Development

16
Large Order Book with Strong Execution
Unexecuted orderbook has been scaled up over years (MWp)… …. With stable rate of execution

Executed Order Book (MWp) Revenue from Operations (Rs. Cr)

1524 1598
3263
2365 876
704

817 295 351

2023 2024 2025 2023 2024 2025

Key Orders Wins

Engineering, Procurement and Construction (EPC) works of a project IPP Assets

• 255 MWp Ground Mounted solar power project (Order won in Q4FY25) • The company has developed 54.82 MWp solar power generating assets
• 105 MWp Turnkey EPC Project (Order won in Q4FY25)
• Additionally, setting up 41.6 MWp Independent Power Producer (IPP) Plant (Q3
• 40 MWh Battery Storage System project (Order won in Q4 FY25)
FY25)
• 2012.47 MWp Ground Mounted Solar PV project (Order won in Q3FY25)
• 30.0 MWp Ground Mounted solar power project (Order won in Q2FY25)
• 3.4 MWp Ground Mounted solar power project (Order won in Q2FY25) O&M Portfolio
• The company has ~695 MWp of O&M Portfolio
• 700 KWp Rooftop solar power project (Order won in Q1FY25)
• 1.090 MWp Floating solar power project (Order won in Q1FY25)

17
 Key Ongoing Projects

2000 MWp Ground Mounted project 980 MWp Ground Mounted project 450 MWp Ground Mounted project 412.5 MWp Ground Mounted project
at Bikaner, Rajasthan at Kurnool, Andhra Pradesh at Bikaner, Rajasthan at Bikaner, Rajasthan

150 MWp Ground Mounted project at Ratlam, 100 MWp Ground Mounted project 78 MWp Ground Mounted project 52.6 MWp Ground Mounted project
Madhya Pradesh at Jamnagar, Gujarat at Kasdol, Chhattisgarh at Simhapuri, Andhra Pradesh

4.25 MWp Rooftop project 3.4 MWp Ground Mounted project (PM Kusum 1.090 MWp Floating project 0.7 MWp Flexible Rooftop project
210 MWp Ground Mounded project
at Chittorgarh, at Khandwa
Rajasthan Yojna) at Chadchan, Karnataka at Vadodra, Gujarat at Bhiwandi, Maharashtra

18
Future Strategy
Key Strengths

Fast growing solar market Comprehensive Solar EPC Ability to undertake Ecosystem play within Bankable EPC provider with
with massive tailwinds solutions provider with complexity, size and all the group marquee customers
end-to-end capabilities renewable projects

Strong parentage and the Well entrenched in the Large order book with Strong execution capabilities Robust growth and financial
ability to leverage module Indian Market with large strong execution with experienced management performance backed by an
manufacturing business of projects commissioned at the helm asset-light business model
parent

20
Unique Propositions

CUSTOMER CONNECT MARKET ACCEPTANCE NETWORK ON GROUND TRACK RECORD

Strong & Proven Network with

Strong Customer base of Proven Name & Quality at
all stakeholders/authorities with Large Installations with Long &
respected industrial Competitive rate in national
more than a decade of Proven On-Ground Performance
House/Companies and international markets
experience

QUALITY CERTIFICATION IN HOUSE TEAM INNOVATION

ISO 9001:2015 certificate Experienced & Strong Team with Consistent Introduction of new
received for Quality Proven Performance in Solar technologies & Innovative
Management System (QMS) (295 Manpower) products & Solutions

21
Growth Strategy - Energy Transition

Energy Transition Solar Parks O&M

Renewable Storage Services

Green Hydrogen Solar Hybrid Battery Pump

Floating Rooftop Ground Mounted

Achieve higher growth in the EPC segment Expand in O&M markets

• Evaluating opportunities in both international and domestic markets to secure • The size of the O&M market is expected to grow as more solar capacities are added
more EPC contracts • Evaluating third-party O&M opportunities in international & domestic markets
• Participating in government and private bidding process through both organic and inorganic methods
• Ecosystem of renewable energy from module to storage helps win clients • Enhance value to customers by offering differentiating O&M services, such as drone
thermography, strong analytics and predictions, underground cable fault finder etc.

22
Powering Growth wide Presence in Energy Ecosystem
Waaree group’s experience in Solar translates into multiple advantages for the EPC business Emerged as a credible solar EPC player in India

• Waaree Energies is present in India, Middle East, Africa,

Global Access APAC, North & South America and Europe – can provide • Assists the company in being able to source orders by
access to international markets providing end to end product & solutions
26 countries presence • Waaree Energies has a strong presence in India 25 states • Also assists in getting leads for EPC projects
& 2 UTs which provide sourcing access to Waaree RTL

• ~15 GW of existing capacity with planned capacity of

Module Manufacturing 25.7 GW – Largest domestic manufacturer of solar PV
modules • Waaree RTL has access to strong supply chain

25.7 GW • Backward integration to provide cost advantage and

access to modules
• Strong Marquee Clients
Planned Capacity

• Support of group for non-fund limits to bid for large

Strong Group Financials projects • Strong backing & stakeholder relationship
• Strong balance sheet of Parent Company (Waaree • Strong Credit Rating: CARE A,Stable
Strong financial backing Energies)

Waaree group is seen as an end-to-end product & solutions provider in the Global Energy Transition space
23
Experienced Board Management
Mr. Nilesh Bhogilal Gandhi | Chairman & Non-Executive Independent Director
An accomplished professional with over three decades of experience in finance, power,
and renewables, he holds a Bachelor’s in Commerce, an LLB, and is a Fellow Chartered Mr. Viren Chimanlal Doshi |Executive Director
Accountant (FCA). He has held key leadership roles at Unid Finance Consultancy, Rational
Engineers, and Indosolar, providing strategic guidance and direction. He has been with the company since 2007, and currently oversees the engineering,
procurement, and construction of solar projects across the company and its
subsidiaries. With over two decades of experience in the engineering industry, he
Mr. Pujan Pankaj Doshi | Managing Director brings extensive knowledge and expertise.
He combines engineering expertise with visionary leadership. Holding a BE in
Instrumentation from Mumbai University, he brings over a decade of experience in Mr. Hitesh Pranjivan Mehta | Executive Director
corporate strategy, business planning, and fostering international collaborations. His
strategic acumen drives the company’s innovative initiatives. With over three decades of experience in engineering, solar, and oil industries, he
combines strategic insight and financial expertise. Holding a Bachelor’s in Commerce
from the University of Bombay and being a member of the ICAI, he leads Waaree
Mr. Sunil Rathi | Executive Director Group strategies, financial management, and corporate governance, ensuring strong
financial stewardship.
He holds a BE in Electronics and an MBA in Marketing from ITM, Mumbai, with over
three decades of experience in sales and marketing. He has worked with leading
companies including Vikram Solar, Waaree Energies, Powernetics Equipment, Control Mr. Mitul Chandulal Mehta | Non-Executive Independent Director
Paint, and Aplab Ltd.
He holds a Bachelor's degree in Commerce from Mumbai University. He has over two
Mr. Sunil Jain | Non-Executive Independent Director decades of experience in production and is currently working as a director at ITEC
Measures Pvt Ltd and Waaree Technologies Limited
With over three decades of experience, he led Hero Future Energies to a 2 GW portfolio
and helped establish Green Infra Limited. An award-winning leader in renewables, he chairs
several councils and holds an engineering degree from BIT Mesra and an MBA from FMS, Ms. Ambika Sharma | Non-Executive Independent Director
Delhi University.
She is a global business strategist with over three decades of experience in public affairs
and international relations. A summa cum laude graduate in Economics from Delhi
Mr. Sudhir Arya | Additional Non-Executive Independent Director University, she also holds a Master’s in Business Economics and has attended
management programs at the EU and XLRI, Jamshedpur.
A fellow of ICMAI and ICFAI with a finance degree from MDI, Gurugram, he has over
four decades of experience, including roles as CFO of NTPC Ltd and Director (Finance)
at UPPCL. He specializes in project finance and financial reporting and serves as an
independent director at IIFL Asset Management and Ajay Poly Ltd.

24
Strong Leadership Team

Mr. Manmohan Sharma Mr. Ravikesh Singh

Chief Financial Officer Chief Operating Officer-EPC

He is a Chartered Accountant with over 29 years of experience in Project Finance, He holds a B. Tech in Electrical Engg & Post Graduate Diploma in Business
Accounts, Working Capital Management, Banking, Cash Flow Management, Management. He has over 20 years of experience in power projects and has
Budgeting, MIS, Ind AS Financials, Audits, Taxation, and Financial Modelling. His previously been associated with companies such as CleanMax Enviro Energy Solutions
expertise lies in robust financial planning, control, system improvement, and in Pvt Limited, Cable Corporation of India Limited, RattanIndia (Indiabulls) Power
establishing a good governance framework and has previously been associated with Limited, Adani Power Ltd, ABB Ltd, Reliance Energy Ltd.
GMR Energy Limited , Suzlon Energy Limited , Ispat Industries Limited, etc.

Ms. Heema Shah

Mr. Mayur Mehta Company Secretary & Compliance Officer
Vice-President Supply Chain Management
She holds a Bachelor's degree in Commerce and LLB from Mumbai University and is a
He holds a Diploma in Export-Import Management. He has 25+ years of experience in
Company Secretary from ICSI. She has over 11 years of experience in corporate
Supply Chain Management and has previously been associated with companies such
compliance and governance. She was previously associated with the Pittie group and
as Blue Star Ltd, DHL, Astarc Group, ALF Engineering, and Aegis Logistics.
Reliance Organic

25
Financial Highlights
 Robust Financial Performance
(Consolidated) (₹ in Cr)
Revenue EBITDA & EBITDA Margin PAT & PAT Margin
27.55% 26.51% 18.78% 19.67%

+74.37% +67.79% +82.73%

476.58 126.33 93.77

273.31 75.29 51.31

Q4FY24* Q4FY25 Q4FY24* Q4FY25 Q4FY24* Q4FY25

Revenue EBITDA & EBITDA Margin PAT & PAT Margin

23.64% 19.46% 16.57% 14.33%

+82.29% +50.06% +57.64%

1,597.75 310.90 228.92

207.18 145.22
876.50

FY24* FY25 FY24* FY25 FY24* FY25

*Note- Consolidated numbers are on restated basis due to merger effect *Excluding Other Income 27
Consolidated Income Statement
Particulars (₹ Crs) Q4FY25 Q4Y24* Y-o-Y Q3FY25 Q-o-Q FY25 FY24* Y-o-Y
Revenue from Operations 476.58 273.31 360.35 1597.75 876.50

Total Revenue 476.58 273.31 74.37% 360.35 32.26% 1,597.75 876.50 82.29%

Cost of EPC contract 334.96 190.04 275.93 1238.80 644.90

Employee Expenses 7.50 4.97 7.92 29.56 17.30

Other Expenses 7.79 3.01 4.57 18.49 7.12

EBITDA 126.33 75.29 67.79% 71.92 75.65% 310.90 207.18 50.06%

EBITDA Margin (%) 26.51% 27.55% 19.96% 19.46% 23.64%

Other Income 4.86 2.05 3.78 14.80 4.15

Depreciation 1.63 1.72 1.62 6.37 6.12

Finance Cost 4.38 3.54 3.35 14.84 6.77

Profit Before Tax 125.18 72.08 73.68% 70.74 76.98% 304.49 198.45 53.43%

Profit Before Tax(%) 26.27% 26.37% 19.63% 19.06% 22.64%

Exceptional Item -4.02 - - -4.02 -

Tax 27.40 20.76 17.25 71.55 53.24

Profit After Tax 93.77 51.31 82.73% 53.48 75.32% 228.92 145.22 57.64%

PAT Margin (%) 19.67% 18.78% 14.84% 14.33% 16.57%

EPS (As per Profit after Tax) 9.00 4.93 5.14 22.00 13.95
*Note: Consolidated numbers are on restated basis due to merger effect 28
Consolidated Balance Sheet and Cash Flow Statement
Particulars (₹ Cr) FY25 FY24*
Shareholders' Funds 454.95 246.53
Non-Current Liabilities 52.23 48.78
Current Liabilities 612.94 419.23
Total Equity & Liabilities 1,120.12 714.32
Fixed Assets 254.19 159.93
Other Non-Current Assets 54.42 4.05
Current Assets 811.51 550.34
Total Assets 1,120.12 714.32

Particulars (₹ Cr) FY25 FY24*

Net Cash Inflow / (Outflow) from Operating Activities 302.70 127.91

Cash Flow from Investing Activities -236.93 -114.39

Cash Flow from Financing Activities -48.57 -7.18

Net increase/ (decrease) in Cash & Cash equivalent 17.20 6.34

Cash and cash equivalents as at start of the period 9.59 3.26

Cash and cash equivalents as at end of the period 26.79 9.59

*Note: Consolidated numbers are on restated basis due to merger effect 29

For further information, please contact:

Company : Investor Relations Advisors :

Waaree Renewable Technologies Ltd. MUFG Intime India Private Limited

CIN: L93000MH1999PLC120470 (A part of MUFG Corporate Markets, a division of
MUFG Pension & Market Services)
Mr. Rohit Wade
GM – Investor Relations Mr. Viral Sanklecha +91 9987123158
[email protected] [email protected]
www.waareertl.com
Ms. Nidhi Vijaywargia +91 9923450804
[email protected]