Waaree Renewable Technologies in focus after Receiving ₹96.5 Cr order

Synopsis: The shares of the company surged by more than 3 percent after it received a Letter of Award for a solar power project from a Private limited company, following up on its previous EPC order received yesterday.

The company is engaged in the business of generating power through renewable energy sources and also provides consultancy services in this regard, are in focus after it received this EPC order.

With the market capitalization of Rs 10,100 crore, Waaree Renewable Technologies Ltd’s share on Wednesday made a day high of Rs 978.25 per share, up by 1.8 percent from its previous day’s close price of Rs 948.75 per share. 

Waaree Renewable Technologies Limited has secured a domestic EPC order worth about Rs 96.51 crore (excluding taxes) for a ground-mounted solar project of 28.60 MWac/39.80 MWp. This Letter of Award has been issued by a private limited company, and the project is scheduled for completion within FY26-27, as per the agreed terms.

Under this contract, Waaree Renewable will execute the project on a turnkey basis, covering engineering, procurement, and construction. The order is commercial in nature, awarded by a domestic entity, and does not involve any related-party transactions.

This order will add to the company’s unexecuted order book of 3.48 GWp as of Q2 FY26, which will give them solid visibility for the upcoming quarter. And in H1, the company executed about 1,621 MWp of EPC projects, which even exceeds their full-year execution of FY ‘2025, reinforcing the firm’s execution capability and enabling them to sustain leadership in India’s EPC space. 

Incorporated in 1999, Waaree Renewables Technologies Ltd is engaged in the business of generating power through renewable energy sources and also provides consultancy services in this regard. Waaree Energy is one of the largest vertically integrated new energy companies. It has India’s largest Solar panel manufacturing capacity of 12GW at its plants in Chikhli, Surat and Umbergaon in Gujarat.

Financial highlights, revenue grew by 48 percent YoY to Rs 775 crore in Q2 FY26, corresponding to the same quarter in the last financial year. Accompanied by YoY EBIDT growth of 121 percent to Rs 158 crore and net profit growth of 117 percent to Rs 166 crore in Q2 FY26.

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