Electric Utilities company Waaree Renewable Technologies announced Q4FY24 & FY24 results: Q4FY24 Financial Highlights: Revenue for Q4FY24 stood at Rs 273.25 crore representing a growth of 344.40% YoY as compared to Rs 61.49 crore in Q4FY23 EBITDA for Q4FY24 stood at Rs 75.30 crore as compared to Rs 22.29 crore in Q4FY23 representing a growth of 237.83% YoY PAT for Q4FY24 stood at Rs 54.18 crore as compared to Rs 12.28 crore in Q4FY23 representing a growth of 341.41% YoY FY24 Financial Highlights: Revenue for FY24 stood at Rs 876.44 crore representing a growth of 149.73% YoY as compared to Rs 350.96 crore in FY23 EBITDA for FY24 stood at Rs 207.18 crore as compared to Rs 83.75 crore in FY23 representing a growth of 147.40% YoY PAT for FY24 stood at Rs 148.04 crore as compared to Rs 55.33 crore in FY23 representing a growth of 167.55% YoY Commenting on the results, Dilip Panjwani, CFO, Waaree Renewable Technologies said: "As a company committed to driving sustainable solutions, we are excited to share our progress and the significant opportunities that lie ahead. India has set an ambitious target to reduce the carbon intensity of the nation’s economy by less than 45% by the end of the decade, achieve 50 percent cumulative electric power installed by 2030 from renewables, and achieve net-zero carbon emissions by 2070. The country aims for 500 GW of renewable energy installed capacity by 2030. The country’s renewable energy market is on the rise, with a record 69GW of bids in FY24, surpassing the government's target. Solar power, both grid-scale and rooftop, remains the primary contributor, accounting for 81% of the added capacity. The installed solar energy capacity has increased by 30 times in the last 9 years and stands at 81.81 GW as of March 2024. Policy initiatives like the PM Surya Ghar: Muft Bijli Yojana aim to further boost solar installations, particularly in residential areas. With a strong balance sheet and disciplined financial management, the focus is on executing profitable projects with higher returns. This progress signifies not only environmental strides but also promising economic prospects in India's renewable energy landscape. We are also pleased to inform you that the board of directors has recommended a dividend of Rs 1/- for the face value of share of Rs 2/- each. With a sound balance sheet and disciplined capital management, we are well-equipped for the next phase of growth. We also would like to extend our gratitude to stakeholders for their continued trust and support.” Result PDF