Waaree Renewable shares advance 7% on 300 MW solar EPC contract

Waaree Renewable said it has signed an EPC contract for a 300 MWac / 420 MWp ground-mounted solar PV plant

Shares of Waaree Renewable Technologies Ltd. rose nearly 7 per cent on Wednesday on signing a contract for the execution of engineering, procurement, and construction (EPC) works for a ground-mounted solar PV plant of 300 MWac / 420 MWp.

 

The company's stock rose as much as 6.9 per cent during the day to ₹852.8 per share, the biggest intraday gain since February 3 this year. The stock pared gains to trade 5.2 per cent higher at ₹839 apiece, compared to a 0.41 per cent decline in Nifty 50 as of 09:58 AM. 

 

Shares of the company rose for the second straight session and currently trade at 4.9 times the average 30-day trading volume, according to Bloomberg. The counter has fallen 13.6 per cent this year, compared to a 7.2 per cent decline in the benchmark Nifty 50. Waaree Renewable has a total market capitalisation of ₹8,768.7 crore. 

 

Waaree Renewable bags EPC contract for 300 MW solar plant

Waaree Renewable said it has signed a contract for the engineering, procurement and construction (EPC) of a ground-mounted solar photovoltaic (PV) plant with a capacity of 300 megawatt alternating current (MWac) or 420 megawatt peak (MWp).

 

The order has been awarded by a domestic company involved in power generation using renewable energy, the company said in an exchange filing. Under the contract, Waaree Renewable will undertake the EPC execution of the solar power project. The project is scheduled to be completed during the financial year 2027-28 (FY27-28), as per the terms of the order. 

Waaree Renewable Q3 results 

Waaree Renewable reported a 124.67 per cent surge in net profit to ₹120.22 crore in the quarter ended December 2025 compared with ₹53.51 crore in the corresponding quarter of the previous year. Revenue from operations jumped 136.18 per cent year-on-year to ₹851.06 crore during the quarter under review from ₹360.35 crore in the quarter ended December 2024.

 

Earlier this year, Waaree Renewable announced that its board had approved the acquisition of a 55 per cent stake in Associated Power Structures (ASPL), a power transmission and distribution company, for ₹1,225 crore.

 

The acquisition is expected to be completed by April 30, 2026, subject to the fulfilment of agreed conditions, the company said in a statement. After completion of the transaction, ASPL will become a subsidiary of WRTL, the listed engineering, procurement and construction (EPC) arm of the Waaree Group.

 

In September last year, Waaree Energies, the holding company of Waaree Renewable, acquired a 64 per cent stake in transformer company Kotsons through a primary capital infusion of ₹192 crore.