Waaree Energies bags order for supply of 105 MW solar modules; shares erase gains after rising 5%

Shares of Waaree Energies erased gains after rising 5% to hit an intraday high of ₹2,674.70 on the National Stock Exchange on Monday, January 12, after the company post market ours on Friday informed exchanges that it won an order for supply of 105 MW solar modules. On the BSE, Waaree Energies shares climbed as much as 5.4% to hit an intraday high of ₹2,681.80.

Waaree Energies said that it received an order for supply of 105 MW solar modules from a renowned customer engaged in the business of owning, developing and operating renewable power projects in India.

Rebate rates on 22 battery-related products, such as lithium-ion batteries, will be cut to 6% from 9%, before being completely eliminated from January 1, 2027. The move comes as several Chinese industries, particularly solar, grapple with severe overcapacity and intense price competition, the report added.

Waaree Energies Q2 earnings

The renewable energy player in October last year reported more than a two-fold jump in its consolidated net profit to ₹871.21 crore in the July-September quarter on the back of higher revenues.

It had clocked a net profit of ₹375.66 crore in the same period of the preceding 2024-25 financial year.

The company's total income increased to ₹6,226.54 crore in the quarter, up from ₹3,663.47 crore in Q2 FY25. This translates to an increase of 69.9% YoY.

Waaree Energies' expenses also increased 57.8% to ₹4,995.08 crore from ₹3,164.63 crore seen in the year-ago period.

As of 12:55 pm, Waaree Energies shares traded 0.61% higher at ₹2,560, outperforming the NIFTY50 index which was up 0.14%.