Waa Solar hits the roof after bagging Rs 225-cr solar project from MPUVNL

Waa Solar hit an upper limit of 20% at Rs 55.62 after it has received a contract worth Rs 225 crore from M.P. Urja Vikas Nigam (MPUVNL) for setting up grid-connected solar photovoltaic (PV) power plant.

The project is part of the Surya Mitra Krishi Feeders Scheme, with a feeder solarisation component under the PM-KUSUM-C scheme.

The project involves development of solar power plants for the sale of electricity to Madhya Pradesh Power Management Company (MPPMCL).

The contract is a domestic order and is required to be executed within 18 months from the date of signing of the Power Purchase Agreement (PPA).

 

The company clarified that neither the promoters nor the promoter group have any interest in MPUVNL, and the transaction does not fall under related-party transactions.

Waa Solar is mainly engaged in solar power generation by setting up Solar Power Project companies which are engaged in solar power generation activities.

The companys consolidated net profit rose 5.1% to Rs 6.97 crore in FY26, on a 5.8% increase in revenue from operations to Rs 28.25 crore, compared with FY25.

As of 29 Decemeber 2025, the company's market cap stood at Rs 73.79 crore in the BSE.

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