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What is the story about?
Waaree Energies Ltd. on Monday, June 15, said it has received an order to supply 800 MW of solar modules from a domestic customer.
In an exchange filing, the company said the order was awarded by a "renowned customer" that is a leading energy solutions provider. Waaree did not disclose the name of the customer or the financial value of the contract.
The order is a one-time contract for the supply of 800 MW solar modules from a domestic entity, and is scheduled to be executed over the financial year 2026-27, the company said.
Waaree also clarified that neither its promoters nor promoter group entities have any interest in the customer awarding the contract. The transaction does not qualify as a related-party transaction, the company said.
Waaree Energies is one of India's largest solar module manufacturers and operates across the solar value chain, including module manufacturing, engineering, procurement and construction (EPC), and renewable energy solutions.
In April, the company's Chairman and Managing Director, Hitesh Doshi, said the renewable energy EPC and operations and maintenance (O&M) player expects business growth to continue, supported by new capacities and ongoing investments.
Waaree expects EBITDA for FY27 in the ₹7,000–7,700 crore range, supported by new capacities across batteries, ingots, wafers and solar cells coming online over the year.
“EBITDA will continue… around 20%, and we believe… We’ll be able to maintain that,” Doshi said.
The company's March quarter revenue more than doubled to ₹1,102.4 crore from ₹476.6 crore in the year-ago quarter. EBITDA surged 63.7% to ₹206.8 crore from ₹126.3 crore a year earlier. Net profit grew 66.1% to ₹155.7 crore from ₹93.8 crore in Q4FY25.
Its margin, however, contracted to 18.8% from 26.5%, largely due to a sharp increase in EPC contract costs, which rose to ₹871 crore from ₹335 crore.
Shares of the company were trading nearly 1% higher on Monday, at ₹3,060. The stock has gained about 6% over the last year.
Also Read: Kalyan Jewellers' shares surge over 11% to top Nifty 500 gainers list; Here's why
In an exchange filing, the company said the order was awarded by a "renowned customer" that is a leading energy solutions provider. Waaree did not disclose the name of the customer or the financial value of the contract.
The order is a one-time contract for the supply of 800 MW solar modules from a domestic entity, and is scheduled to be executed over the financial year 2026-27, the company said.
Waaree also clarified that neither its promoters nor promoter group entities have any interest in the customer awarding the contract. The transaction does not qualify as a related-party transaction, the company said.
Waaree Energies is one of India's largest solar module manufacturers and operates across the solar value chain, including module manufacturing, engineering, procurement and construction (EPC), and renewable energy solutions.
In April, the company's Chairman and Managing Director, Hitesh Doshi, said the renewable energy EPC and operations and maintenance (O&M) player expects business growth to continue, supported by new capacities and ongoing investments.
Waaree expects EBITDA for FY27 in the ₹7,000–7,700 crore range, supported by new capacities across batteries, ingots, wafers and solar cells coming online over the year.
“EBITDA will continue… around 20%, and we believe… We’ll be able to maintain that,” Doshi said.
The company's March quarter revenue more than doubled to ₹1,102.4 crore from ₹476.6 crore in the year-ago quarter. EBITDA surged 63.7% to ₹206.8 crore from ₹126.3 crore a year earlier. Net profit grew 66.1% to ₹155.7 crore from ₹93.8 crore in Q4FY25.
Its margin, however, contracted to 18.8% from 26.5%, largely due to a sharp increase in EPC contract costs, which rose to ₹871 crore from ₹335 crore.
Shares of the company were trading nearly 1% higher on Monday, at ₹3,060. The stock has gained about 6% over the last year.
Also Read: Kalyan Jewellers' shares surge over 11% to top Nifty 500 gainers list; Here's why
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