Green energy stock jumps after securing LoA worth ₹103 Cr for solar EPC project

Synopsis: Shares of Waaree Renewable Technologies jumped sharply after it secured a significant order worth approximately Rs 103 crore from one of the largest manufacturers of pig iron and seamless tubes.  

The shares of this company, engaged in the business of generating power through renewable energy sources, which also provide consultancy services, are in focus after it secured a key order. In this article, we will dive more into the details of it.

With a market capitalisation of Rs 10,257 crore, the shares of Waaree Renewable Technologies Ltd are currently trading at Rs 986.55 per share, up 2 percent from its day’s low price of Rs 964 per share. Over the past five years, the stock has delivered a multibagger return of 28,207 percent, outperforming NIFTY 50’s return of 78 percent.

About the order

Waaree Renewable Technologies thorugh a stock exchange filing, announced that it has secured a Letter of Award (LOA) for a new solar EPC project. As part of this contract, the company will develop a 25 MWac/35 MWp ground-mounted solar power project on a turnkey basis, along with the setting up of 50 MW evacuation infrastructure for Rs 102.75 crore, and it has been awarded by a large manufacturer of pig iron, castings, and seamless tubes, with the project to be finished in FY26-27

Financials

The revenue from operations for Waaree Renewable Technologies stands at Rs 775 crores in Q2 FY26 compared to Q2 FY25 revenue of Rs 524 crores, up by 48 per cent YoY. Additionally, on a QoQ basis, it reported a growth of 29 percent from Rs 603 crore. 

Coming down to its profitability, the company’s net profit stood at Rs 116 crore in Q2 FY26, up from Rs 54 crore in Q2 FY25, which is a growth of 115 percent YoY. Additionally, on a QoQ basis, it reported a net profit of Rs 86 crore, which is a growth of 35 percent.

Its order book has grown significantly over the past few years. In 2023, it had an order book of 817 MWp, 2,365 MWp in 2024, 3,263 MWp in 2025 and as of the latest, it has a robust unexecuted order book of 3,481 MWp as of H1 FY26.

Waaree Renewable Technologies Ltd, known as WRTL, is recognised as one of India’s leading solar EPC companies. As part of the larger Waaree Group, it manages everything from engineering and procurement to construction. WRTL handles large-scale solar projects, including ground-mounted systems, rooftop installations, and open-access solar farms. The majority of their projects cater to commercial and industrial customers, always aiming to provide sustainable and cost-effective energy solutions.

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