Waaree Renewable Technologies bags order for 150 MWac solar power project; shares decline nearly 7%

At 3:10 PM, shares of Waaree Renewable Technologies were trading 4.67% lower at ₹1,199.60 apiece on the National Stock Exchange (NSE).

The contract pertains to the execution of Engineering, Procurement and Construction (EPC) works of a ground-mount solar power project with a capacity of 150 MWac / 217.5 MWp. According to the company, the total order value is approximately ₹156.66 crore, excluding taxes.

“The project is scheduled to be completed in the financial year 2026- 27, as per the terms of the order,” the company said in an exchange filing.

The company confirmed that neither its promoters nor its group companies hold any interest in the awarding entity. It further clarified that the order does not fall within the category of related party transactions.

Last week, on Friday, October 10, the company announced its July to September earnings for FY26. The company reported a consolidated net profit of ₹116 crore for the quarter ended September 30, as compared to ₹53.5 crore in the same quarter of the previous fiscal year, marking a growth of 117.2%.

Its revenue from operations also increased 48% to ₹775 crore in Q2 FY26 as against ₹524 crore in the corresponding quarter of last financial year.

The company's operation profit, also known as earnings before interest, taxes, depreciation, and amortisation (EBITDA), surged 121% to ₹158 crore in the period ended September 2025 as against ₹71.57 crore in Q2 FY25. The margin for Q1 FY26 stood at 20.39%, in contrast to 13.65% YoY.

In the reporting quarter, Waaree Renewable Technologies’ unexecuted order book stood at 3.48 GWp, scheduled for execution over the next 12–15 months, while its bidding pipeline remained strong at over 27 GWp.

Share price details

Over a week’s time, the stock has gained over 10.43%, while for a month, it has climbed 9.80%. For a period of six months, Waaree Renewable Technologies shares have increased 27.79%.

Since the beginning of the year, the stock has skyrocketed 40.10%. Its market capitalisation stands at ₹12,369.90 crore.