Analysis published 30 Apr 2026

AI-generated · cited to primary sources · not investment advice

Waaree Energies (544277) May 2025 Filing Analysis

03 · Future Growth

Where does growth come from?

Gross Margin and Product Mix

EBITDA growth is accelerating significantly, with FY25 margins expanding by 548 basis points and Q4 margins expanding by 900 basis points. (5 accelerating across 5 signals)

EBITDA for the year stood at INR3,123 crores... margins of 21.04%. Last year, the same margin was at 15.56%... Margins for the quarter was at 25.59%, which expanded by about 900 basis point plus.

Waaree Energies · Concall Transcript · May 2025 · p.5
Channel Partner Ecosystem and Electrician Influence

Waaree maintains a dominant market position with a 14.1% share of India's module manufacturing and a strong retail presence. (1 steady across 1 signal)

14.1% share of India's module manufacturing and over 400 channel partners across the country

Waaree Energies · Concall Transcript · May 2025 · p.4

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