Waaree Renewable Technologies (WAAREERTL), a Waaree Group subsidiary has received a 35 MWp capacity enhancement order to enhance the capacity of the solar project from the earlier 30 MWp on a turnkey basis. Also, the order value has been enhanced by Rs 12.64 crore. The contract now stands at a value of Rs 102.93 crore (exclusive of taxes), up from the earlier Rs 90.29 crore.
Waaree Renewables Technologies: Project key details
As per its regulatory filing, the company shall execute the engineering, procurement, and construction (EPC) project for the ground-mounted solar project. The scope of work also includes the operation and maintenance of 35 MWp capacity on a turnkey basis. The contract’s capacity has been enhanced to 35 MWp from the earlier 30 MWp.
The company has not disclosed the name of the awarding entity. However, in its statement, the company added that the order has been awarded to Waaree Renewable Technologies by one of the largest manufacturers of pig iron and castings & seamless tubes. The commercial order is domestic in nature, the company it added.
The solar project is scheduled to be completed during FY 2026–27, the company added in its statement.
The company received the intimation of the same on December 29, 2025. Further, the disclosure has been made in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
The company has clarified that the promoter group does not have any interest in the awarding entity, and no inter-related party transactions are involved in the same.
Waaree Renewables Technologies: Financial Result Q2FY26
For Q2FY26, the company reported a net consolidated revenue of Rs 774.72 crore, up nearly 48% from its revenue reported for the same quarter last year. Further, the company’s net profit rose sharply to Rs 117 crore, up from Rs 53.5 crore reported for Q2FY25. EBITDA for the reporting quarter stood at Rs 163 crore.
Waaree Renewables Technologies: Share Price
Following the announcement of this capacity enhancement, the company’s share prices rose nearly 1% in the intraday session. Over the past one month, the company’s stock has declined by nearly 10%.