Power stock jumps 3% after receiving orders for supply of solar modules

Synopsis:
The shares of the company are in focus after the company receives two orders for the supply of solar modules from Indian and US customers.

This energy stock, which is an Indian manufacturer of solar PV modules with an aggregate installed capacity of 18.7 GW and has five solar module manufacturing facilities in India, with international presence was in the spotlight following the announcement of the company bagging two orders.

With the market cap of Rs 1,03,150 crore, the shares of Waaree energies ltd gave a closing at Rs 3,585 and gained roughly 3.2  percent in intraday from its previous day low of Rs 3,528. The shares were listed exactly a year back and have given a return of 43.32  percent ever since.

About the order

The Company received two orders on October 24, 2025. One is for the supply of 220MW, 210MW and 140MW solar modules from renowned customers engaged in the business of owning, developing and operating renewable power projects in India. 

Another order is bagged by  Waaree Solar Americas, a wholly owned subsidiary of the Company for the supply of 122MW solar modules from a renowned customer who is a developer and owner-operator of utility-scale solar and energy storage projects across the United States.  The supply time for the order is FY26 and FY27, respectively.

Financials and others

The Revenue from sales is Rs 6,066 Crore in Q2 FY26 versus Rs 3,574 crore in Q2 FY25 which is an increase of about 70 percent YoY basis. Similarly, there has been an increase in Net profit of 133 percent when we compare the Q2 FY25 profit of Rs 376 crore with the Q2 FY26 profit of Rs 878 crore.

The share is trading at a PE of 38 which is lesser than its median PE of 43.5. Its order book as of Q2 FY26 is at Rs 47,000 crore out of which 59.5  percent came from India and remaining 40.5  percent came from overseas . Similarly its ROCE and ROE is 41.8  percent and 34.8  percent respectively.

The Renewable energy segment is ever growing in India and companies like Waaree Energies are dominating the segment and with a capex of Rs 25,000 crore plus , the company is active in its strategic growth planning. The company has a strategic green energy portfolio containing battery energy storage system, inverters, green hydrogen electrolyser and renewable power infrastructure.

Written by Leon Mendonca

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