| Scrip Code | 544277 |
|---|---|
| NSE Symbol | WAAREEENER |
| MSEI Symbol | NOTLISTED |
| ISIN | INE377N01017 |
| Name of company | Waaree Energies Limited |
| Type of company | Main Board |
| Class of security | Equity |
| Date of start of financial year | 01-04-2025 |
| Date of end of financial year | 31-03-2026 |
| Date of board meeting when results were approved | 21-01-2026 |
| Date on which prior intimation of the meeting for considering financial results was informed to the exchange | 17-01-2026 |
| Description of presentation currency | INR |
| Level of rounding used in financial results | Lakhs |
| Reporting Type | Quarterly |
| Reporting Quarter | Third quarter |
| Nature of report standalone or consolidated | Standalone |
| Whether results are audited or unaudited for the quarter ended | Unaudited |
| Whether results are audited or unaudited for the Year to date for current period ended/year ended | Unaudited |
| Segment Reporting | Single segment |
| Description of single segment | Manufacturing of Solar Modules |
| Start date and time of board meeting | 21-01-2026 15:00:00 |
| End date and time of board meeting | 21-01-2026 18:15:00 |
| Whether cash flow statement is applicable on company | |
| Type of cash flow statement | |
| Declaration of unmodified opinion or statement on impact of audit qualification | Not applicable |
| Whether statement on deviation or variation for proceeds of public issue, rights issue, preferential issue, qualified institutions placement etc. is applicable to the company for the current quarter? | Yes |
| No. of times funds raised during the quarter | 1 |
| Whether the disclosure for the Default on Loans and Debt Securities is applicable to the entity? | No |
| There is no default on Loans and no debt Securities applicable to the company | |
| Particulars | 3 months/ 6 months ended (dd-mm-yyyy) | Year to date figures for current period ended (dd-mm-yyyy) | |
|---|---|---|---|
| A | Date of start of reporting period | 01-10-2025 | 01-04-2025 |
| B | Date of end of reporting period | 31-12-2025 | 31-12-2025 |
| C | Whether results are audited or unaudited | Unaudited | Unaudited |
| D | Nature of report standalone or consolidated | Standalone | Standalone |
| 1 | Income | ||
| Revenue from operations | 6,29,095.00 | 14,24,271.00 | |
| Other income | 22,490.00 | 1,15,662.00 | |
| Total income | 6,51,585.00 | 15,39,933.00 | |
| 2 | Expenses | ||
| (a) | Cost of materials consumed | 3,32,336.00 | 8,94,020.00 |
| (b) | Purchases of stock-in-trade | 8,497.00 | 29,046.00 |
| (c) | Changes in inventories of finished goods, work-in-progress and stock-in-trade | 33,019.00 | (65,009.00) |
| (d) | Employee benefit expense | 9,331.00 | 25,852.00 |
| (e) | Finance costs | 7,605.00 | 16,745.00 |
| (f) | Depreciation, depletion and amortisation expense | 19,521.00 | 50,794.00 |
| (f) | Other Expenses | ||
| 1 | Other manufacturing expenses | 27,380.00 | 60,118.00 |
| 2 | Sales,administration and other expenses | 50,431.00 | 1,23,012.00 |
| Total other expenses | 77,811.00 | 1,83,130.00 | |
| Total expenses | 4,88,120.00 | 11,34,578.00 | |
| 3 | Total profit before exceptional items and tax | 1,63,465.00 | 4,05,355.00 |
| 4 | Exceptional items | (29,478.00) | (29,478.00) |
| 5 | Total profit before tax | 1,33,987.00 | 3,75,877.00 |
| 6 | Tax expense | ||
| 7 | Current tax | 35,606.00 | 87,478.00 |
| 8 | Deferred tax | (2,567.00) | 5,509.00 |
| 9 | Total tax expenses | 33,039.00 | 92,987.00 |
| 10 | Net movement in regulatory deferral account balances related to profit or loss and the related deferred tax movement | 0.00 | 0.00 |
| 11 | Net Profit Loss for the period from continuing operations | 1,00,948.00 | 2,82,890.00 |
| 12 | Profit (loss) from discontinued operations before tax | 0.00 | 0.00 |
| 13 | Tax expense of discontinued operations | 0.00 | 0.00 |
| 14 | Net profit (loss) from discontinued operation after tax | 0.00 | 0.00 |
| 15 | Share of profit (loss) of associates and joint ventures accounted for using equity method | 0.00 | 0.00 |
| 16 | Total profit (loss) for period | 1,00,948.00 | 2,82,890.00 |
| 17 | Other comprehensive income net of taxes | 53.00 | (55.00) |
| 18 | Total Comprehensive Income for the period | 1,01,001.00 | 2,82,835.00 |
| 19 | Total profit or loss, attributable to | ||
| Profit or loss, attributable to owners of parent | |||
| Total profit or loss, attributable to non-controlling interests | |||
| 20 | Total Comprehensive income for the period attributable to | ||
| Comprehensive income for the period attributable to owners of parent | |||
| Total comprehensive income for the period attributable to owners of parent non-controlling interests | |||
| 21 | Details of equity share capital | ||
| Paid-up equity share capital | 28,764.00 | 28,764.00 | |
| Face value of equity share capital | 10 | 10 | |
| 27 | Details of debt securities | ||
| 22 | Reserves excluding revaluation reserve | ||
| 23 | Earnings per share | ||
| i | Earnings per equity share for continuing operations | ||
| Basic earnings (loss) per share from continuing operations | 35.1 | 98.43 | |
| Diluted earnings (loss) per share from continuing operations | 35.04 | 98.2 | |
| ii | Earnings per equity share for discontinued operations | ||
| Basic earnings (loss) per share from discontinued operations | 0 | 0 | |
| Diluted earnings (loss) per share from discontinued operations | 0 | 0 | |
| ii | Earnings per equity share | ||
| Basic earnings (loss) per share from continuing and discontinued operations | 35.1 | 98.43 | |
| Diluted earnings (loss) per share from continuing and discontinued operations | 35.04 | 98.2 | |
| 24 | Debt equity ratio | ||
| 25 | Debt service coverage ratio | ||
| 26 | Interest service coverage ratio | ||
| 27 | Disclosure of notes on financial results | Textual Information(1) | |
| Textual Information(1) | Due to word limit Constraint, please refer notes in Outcome of Board Meeting Results tab. |
|---|
| Debt equity ratio | |
|---|---|
| Debt service coverage ratio | |
| Interest service coverage ratio |
| Particulars | 3 months/ 6 month ended (dd-mm-yyyy) | Year to date figures for current period ended (dd-mm-yyyy) | |||||
|---|---|---|---|---|---|---|---|
| Date of start of reporting period | 01-10-2025 | 01-04-2025 | |||||
| Date of end of reporting period | 31-12-2025 | 31-12-2025 | |||||
| Whether results are audited or unaudited | Unaudited | Unaudited | |||||
| Nature of report standalone or consolidated | Standalone | Standalone | |||||
| 1 | Segment Revenue (Income) | ||||||
| (net sale/income from each segment should be disclosed) | |||||||
| Total Segment Revenue | |||||||
| Less: Inter segment revenue | |||||||
| Revenue from operations | |||||||
| 2 | Segment Result | ||||||
| Profit (+) / Loss (-) before tax and interest from each segment | |||||||
| Total Profit before tax | |||||||
| i. Finance cost | |||||||
| ii. Other Unallocable Expenditure net off Unallocable income | |||||||
| Profit before tax | |||||||
| 3 | (Segment Asset - Segment Liabilities) | ||||||
| Segment Asset | |||||||
| Total Segment Asset | |||||||
| Un-allocable Assets | null | null | |||||
| Net Segment Asset | null | null | |||||
| 4 | Segment Liabilities | ||||||
| Segment Liabilities | |||||||
| Total Segment Liabilities | |||||||
| Un-allocable Liabilities | null | null | |||||
| Net Segment Liabilities | null | null | |||||
| Disclosure of notes on segments | |||||||
| Particulars | 3 months/ 6 months ended (dd-mm-yyyy) | Year to date figures for current period ended (dd-mm-yyyy) | |
|---|---|---|---|
| A | Date of start of reporting period | 01-10-2025 | 01-04-2025 |
| B | Date of end of reporting period | 31-12-2025 | 31-12-2025 |
| C | Whether results are audited or unaudited | Unaudited | Unaudited |
| D | Nature of report standalone or consolidated | Standalone | Standalone |
| Other comprehensive income [Abstract] | |||
| 1 | Amount of items that will not be reclassified to profit and loss | ||
| 1 | Remeasurement of the net defined benefit liability / asset | 72.00 | (73.00) |
| Total Amount of items that will not be reclassified to profit and loss | 72.00 | (73.00) | |
| 2 | Income tax relating to items that will not be reclassified to profit or loss | 19.00 | (18.00) |
| 3 | Amount of items that will be reclassified to profit and loss | ||
| Total Amount of items that will be reclassified to profit and loss | |||
| 4 | Income tax relating to items that will be reclassified to profit or loss | ||
| 5 | Total Other comprehensive income | 53.00 | (55.00) |
| Mode of Fund Raising | Public Issues |
|---|---|
| Description of mode of fund raising (Applicable in case of others is selected) | |
| Date of Raising Funds | 28-10-2024 |
| Amount Raised | 3,60,000.00 |
| Report filed for Quarter ended | 31-12-2025 |
| Monitoring Agency | Applicable |
| Monitoring Agency Name, if applicable | CARE EDGE RATINGS |
| Is there a Deviation / Variation in use of funds raised | Yes |
| If yes, whether the same is pursuant to change in terms of a contract or objects, which was approved by the shareholders | Yes |
| If Yes, Date of shareholder Approval | 02-08-2025 |
| Explanation for the Deviation / Variation | As per implementation schedule mentioned in offer document, the company had a timeline of March 31, 2025, for deploying funds up to Rs. 275.00 crore for part financing the cost of establishing the 6 GW of Ingot Wafer, Solar Cell and Solar PV Module manufacturing facility in Odisha, India by way of an investment in company’s wholly owned subsidiary, Sangam Solar One Private Limited. However, with shareholders’ approval dated August 02, 2025, the location of the given plants has changed from Odisha to Gujarat (for solar cell and module manufacturing capacity) and Maharashtra (for ingot wafer manufacturing capacity) and the project completion dates were also revised as per table low. Part of the project Original Timeline Revised Timeline 6 GW Solar Module July 2025 December 2025 6 GW Solar Cell April 2026 September 2027 6 GW Ingot Wafer October 2026 March 2027 As the project timelines have been revised, the fund implementation scheduled shall also be revised accordingly, however, there are no such revised timelines for fund implementation and in its absence exact number of days of delay is not ascertainable. |
| Comments of the Audit Committee after review | |
| Comments of the auditors, if any |
| Sr. | Original Object | Modified Object, if any | Original Allocation | Modified allocation, if any | Funds Utilised | Amount of Deviation/Variation for the quarter according to applicable object | Remarks if any |
| 1 | Project location as mentioned in Prospectus was Orissa | Project location changed from Orissa to Gujrat and Maharashtra | 9,04,995.00 | 9,04,958.00 | 68,685.00 | 0.00 | There is no change in the Amount of the Project. However there is only change in location from Orissa to Gujarat and Maharashtra which is approved by the shareholders on August 02, 2025 by way of Postal Ballot. |
| Name of signatory | Rajesh Ghanshyam Gaur |
| Designation of person | Company Secretary and Compliance Officer |
| Place | Mumbai |
| Date | 21-01-2026 |