| Solar Capacity | 800 MWacAggregate Order |
|---|---|
| Market Cap | ₹9,725.03 CrMid-range Performer |
| Revenue TTM | ₹3,652.49 CrOperating Income |
| ROE Annual | 51.23%Sector Leading |
| Order from | One of India’s leading Renewable Energy companies |
| Execution period | FY 2027-28 |
Key highlights
- Awarded two separate EPC projects of 400 MWac each, totaling 800 MWac (1,082 MWp)
- Projects involve ground-mounted Solar PV plants with capacities of 530 MWp and 552 MWp
- Full execution scheduled for completion within the 2027-28 financial year
- The contract was awarded by a prominent domestic renewable energy player in India
- Return on Equity stands at a robust 51.23% according to annual financial data
What Is the Order?
Waaree Renewable Technologies Limited has formalised its receipt of two Letters of Award (LOA) for the Engineering, Procurement, and Construction (EPC) of major solar infrastructure. The scope of work covers two distinct ground-mounted Solar PV plants, providing 400 MWac / 530 MWp and 400 MWac / 552 MWp respectively. Collectively, this represents a significant 800 MWac (1,082 MWp) addition to the company's execution pipeline.
The projects are scheduled for completion during the 2027-28 financial year, aligning with the long-term infrastructure goals of the awarding entity.
Contractual Terms
- The contract was awarded by a leading domestic renewable energy company operating within India
- The transaction is categorized as a commercial order involving no international components
- No promoter or group company interest exists in the awarding entity, ensuring a third-party arrangement
- The project execution timeline spans into the financial year 2027-28 per the terms of the order
- The agreement was concluded on an arm's length basis following standard commercial protocols
Business Overview
Waaree Renewable Technologies operates as a subsidiary of Waaree Energies Limited, focusing on solar EPC services and solar power generation. The company provides end-to-end solutions for developer-led solar projects, including ground-mounted and rooftop installations. By leveraging its technical expertise, the firm serves utility-scale developers and industrial clients across the Indian power sector.
Its core competency lies in the rapid execution of large-scale solar projects, supported by a robust supply chain and engineering capability that targets high efficiency in renewable energy deployment.
Financial Performance
- Annual Net Profit growth stood at 108.89% year-over-year, indicating rapid operational scaling
- The company's Operating Revenue for the TTM period reached ₹3,652.49 crore
- A Piotroski Score of 5 suggests stable financial health and moderate fundamental strength
- Promoters retain a dominant 74.32% stake, reflecting strong internal confidence in the business model
- The company maintains a PEG ratio of 0.25, significantly lower than the sector average of 6.27
Industry Landscape
The Indian solar sector is currently driven by aggressive government targets to achieve 500 GW of non-fossil fuel capacity by 2030. This push has created a fertile ground for EPC players as utility companies transition from fossil fuels to renewable sources. Competitive dynamics in the electric utilities space are shifting toward large-scale integrated projects, where technical reliability and execution speed are paramount.
Waaree Renewable is positioned to benefit from these tailwinds as domestic content requirements and solar manufacturing incentives bolster the local supply chain for EPC contractors.
| Share price | ₹932 |
|---|---|
| Market capitalisation | ₹9,725.03 Cr |
| Revenue (annual) | ₹3,331.42 Cr |
| Net profit (annual) | ₹478.70 Cr |
| Revenue (latest quarter) | ₹924.25 Cr-16.16% vs previous quarter |
| Net profit (latest quarter) | ₹115.90 Cr-25.58% vs previous quarter |
| P/E (TTM) | 19.14×Sector 31.62× |
| Promoter holding | 74.32%0.00% QoQ |
| FII holding | 1.98%Current quarter |
Reference market data from a third-party provider, as of the story. Not a valuation or a recommendation.
Exchange filing by Waaree Renewable Technologies Limited announcing the receipt of Letters of Award for 800 MWac solar PV plants. Market figures from a third-party data provider.
