Waaree Energies Limited — PPTs, 28-02-2025: Investor Presentation

**Investor Presentation Summary**

**Financial Highlights:** Waaree Energies recorded strong growth with revenues increasing to ₹10,705 Cr for 9M FY25. The company maintains a healthy ROE of 31.2% and an EBITDA margin of 19.3%. The cash conversion ratio stands at 109%, reflecting efficient capital management.

**Strategic Initiatives and Growth Drivers:** The firm has expanded its production capacity to 15 GW, including the addition of a 5.4 GW cell manufacturing facility. A 6 GW integrated manufacturing facility is expected to commence operations in FY27. Waaree has secured 26.5 GW in orders, showcasing robust demand.

**Business Developments:** The company recently acquired ENEL Green Power India for ₹792 Cr, enhancing its operational footprint. Additionally, trial production has started at its U.S. facility, while commercial production of a 1.6 GW module manufacturing facility is underway.

**Market Position and Competitive Advantage:** Waaree is positioned as the largest solar PV module manufacturer in India, significantly outpacing competitors. The company’s diverse product portfolio and strong retail network, supported by technological advancements, bolster its market leadership.

**Investor Implications:** Given the increasing global shift towards renewable energy and government policies supporting solar production, Waaree Energies presents a positive outlook for investors, emphasizing significant growth opportunities in the green energy sector.