Waaree Renewable Tech shares rally 5% as firm bags order worth ₹1,252 crore; check details

"The order includes developing turnkey EPC execution of an 870 MWac/1218 MWp grid-connected ground-mount solar power project, including a 33 kV/400 kV substation, transmission line, and two years of operation and maintenance (O&M) services," the company said in a regulatory filing.

The project is scheduled to be completed in the financial year 2026-2027, and its aggregate capacity is 870 MWac/1,218 MWp.

Following this, shares of Waaree Renewable Tech were trading at ₹1,037.50 apiece, rising 2.44% on the National Stock Exchange.

The company had reported outstanding numbers for the quarter ending June of the financial year 2025-26. Both the consolidated net profit and revenue witnessed substantial growth for Q1 FY26.

The company posted a net profit of ₹86 crore for the April to June quarter of FY25, registering a whopping 205.3% jump from ₹28.3 crore in the same quarter of the previous fiscal year.

Waaree Renewables’ revenue from operations grew 155.2% year-on-year (YoY) to ₹603 crore in the reporting quarter in contrast to ₹236 crore in Q1 FY25.

Its operating profit, or earnings before interest, tax, depreciation, and amortisation (EBITDA), for Q1 FY26 increased 186% to ₹118 crore as against ₹41 crore in the corresponding quarter last year. The margin expanded to 19.5% YoY from 17.3% in Q1 FY25.

During the quarter, the renewable energy company has secured two orders, which include 435 MWp and 131.6 MWp ground-mounted solar power projects.

In Q1FY26, revenue from EPC contracts stood at ₹594.39 crore, while the power sale segment contributed ₹8.78 crore. This hybrid revenue model is delivering consistent, predictable cash flows and fuelling sustainable growth.

Waaree Renewable Technologies Limited, the EPC arm of the Waaree Group, stands among the leading players in the solar EPC space. The company has further expanded into Battery Energy Storage Systems (BESS) and data centres.