The company’s shares increased to an intraday high of ₹971.10 on the NSE before trimming gains
Waaree Renewable Technologies Ltd has recently announced that it has secured a Letter of Award (LoA) for a 300 MW/450 MWp ground-mounted solar engineering, procurement, and construction (EPC) project. This will further strengthen its order book amid rising demand for utility-scale renewable energy projects in India.
The latest contract is a big deal, adding to Waaree Renewable’s expanding portfolio of large-scale solar projects and reinforcing its position in the EPC segment.
Following the announcement, the company’s shares increased to an intraday high of ₹971.10 on the NSE before trimming gains. The stock was later trading at ₹951.
This new order includes multiple projects the company has completed in recent months. It also includes 420 MWp ground-mounted solar power project, a 35 MWp solar project, and a 14 MWp installation. These developments reflect sustained traction in Waaree Renewable’s core EPC business and growing demand for solar infrastructure across the country.
The achievement of orders was accompanied by strong financial performance in FY26. During the March quarter, the company reported a 66% year-on-year increase in net profit to ₹155.7 crore, up from ₹93.76 crore in the same period last year.
Revenue more than doubled to ₹1,102.4 crore from ₹476.6 crore, driven by accelerated project execution and a robust order pipeline. EBITDA rose 63.7% to ₹206.8 crore, although EBITDA margins moderated to 18.8% from 26.5% a year earlier.
For the full financial year, revenue from operations surged 108.5% to ₹3,331.42 crore. EBITDA increased 106.2% to ₹641.10 crore, while net profit jumped 109.1% to ₹478.65 crore, underscoring the company’s strong growth trajectory amid India’s expanding renewable energy market.
