Waaree Energies bagged a contract for the supply of solar modules to a prominent solar developer on Monday. The announcement was made after market hours on Monday. The Mumbai-based firm will supply solar modules to the client for two consecutive financial years.
Waaree Energies contract details
As per the terms of the contract, the battery manufacturer will supply 2 gigawatts of solar modules in FY27 and FY28 to a renowned customer. The company said its client is a leading solar developer, but the name of the awarding entity has not been disclosed,
“ This is to inform you that Waaree Energies Limited (“the Company”) has received an order on September 21, 2026, for supply of 2 GW solar modules from a renowned customer who is a leading solar developer,” Waaree Energies said in its regulatory filing.
The project has been awarded to Waaree by a domestic entity. The company has clarified that the order does not involve the interest of promoter/group companies and does not fall within the ambit of related party transactions.
Waaree Energies Q1 FY27
For Q1 FY27, the renewable energy company posted a 14% year-on-year rise in consolidated net profit to Rs 850 crore, compared with Rs 745 crore in the same quarter last year. For the April-June quarter, its revenue from operations advanced 79% YoY to Rs 7,932 crore from Rs 4,426 crore.
Waaree Energies share price
Waaree Energies stock ended Monday’s trade on exchanges flat at Rs 2,499. Over the past one month, its share price has fallen nearly 7%, while over the past six months, its stock has seen an even sharper decline of more than 19%.
About the company
Waaree Energies is a renewable energy company whose core business portfolio comprises solar module manufacturing, EPC services, emerging clean tech, and inverters and energy storage. It is headquartered in Mumbai, Maharashtra.