Waaree Renewable Technologies share price in focus on January 27; here is why

The transaction aligns with WRTL’s long-term strategy of building an integrated platform spanning renewable generation, EPC, energy efficiency, and enabling infrastructure, thereby enhancing value creation, resilience, and execution capability across the clean energy ecosystem, a company statement said.

About Associated Power Structures

Founded in 1996, Associated Power Structures Limited is a well-established company in the power transmission and distribution infrastructure space, with a strong execution track record across India and select international markets.

For the financial year ended March 31, 2025, ASPL reported a turnover (including other income) of ₹1,226.64 crore and a net worth of ₹339.53 crore.

Upon completion of the transaction, ASPL will become a subsidiary of Waaree Renewable Technologies Limited.

This acquisition represents a strategic milestone in Waaree’s transformation into an integrated energy transition company, strengthening its capabilities beyond generation into critical grid and transmission infrastructure—a key enabler of large-scale renewable energy adoption.

Manmohan Sharma, CFO, Waaree Renewable Technologies, said in the statement, “This acquisition is a decisive step forward in Waaree's journey towards becoming a fully integrated energy transition company—what we internally call Waaree 2.0."

The acquisition is expected to be completed by April 30, 2026, subject to the fulfilment of agreed conditions.

Global M&A advisory firm Singhi Advisors acted as exclusive strategic & financial advisor to Waaree Renewable Technologies Limited and played a key role in structuring and advising on the transaction.

Waaree Renewable Technologies Q3 FY 26 Earnings

The company's net profit more than doubled to ₹120.19 crore in the December quarter (Q3 FY26) compared to the year-ago quarter, mainly on the back of higher revenues.

Waaree Renewable Technologies had a net profit of ₹53.48 crore in the quarter ended on December 31, 2024, a statement said.

"PAT stood at ₹120.19 crore as compared to ₹53.48 crore in Q3FY25, representing a growth of 124.74% YoY," it said. According to the statement, revenue in the quarter stood at ₹851.06 crore, representing a growth of 136.18% YoY (year on year) as compared to ₹360.35 crore in Q3FY25.

Its unexecuted order book stands at 2.92 GWp to be executed between 12 and 15 months, and the bidding pipeline remains robust at 29 GWp.

The board has approved the capex budget for setting up a 120 MWp solar power park in Buldhana, Maharashtra.

"Looking ahead, we will continue to strengthen capabilities, invest in innovation, and expand partnerships to capture emerging opportunities in the renewable ecosystem," Manmohan Sharma, CFO, WRTL, said.

About WRTL

WRTL is a subsidiary company of the Waaree Group and is spearheading the solar EPC business.

It is also a solar developer that finances, constructs, owns and operates solar projects.

Headquartered in Mumbai, it operates across geographies, focusing on long-term investments within the commercial and industrial customer segments.