Waaree Renewable Tech drops on reduction in project value, capacity

Waaree Renewable Technologies declined 2.65% to Rs 903.90 after the company announced reduction of the capacity and the corresponding contract value of a previously received commercial order from its subsidiary, Waaree Forever Energies (WFEPL).

The company revised the capacity and contract value due to evacuation considerations and optimization of DC overloading.

Following the revision, the contract value has been reduced to Rs 1,039.60 crore from Rs 1,252.43 crore (excluding taxes) while project capacity has been scaled down to 704MWac/1,000 MWp from 870MWac/1,218MWp. All other terms of order remain unchanged.

The project is scheduled to be completed in the financial year 2026- 27, as per the terms of the order.

Waaree Renewable Technologies, based in Mumbai, is a subsidiary of the Waaree Group and leads the group?s Solar EPC operations. In addition to engineering, procurement, and construction, the company develops, finances, builds, owns, and operates solar power projects as part of its long-term investment approach.

The company?s consolidated net profit surged 117.2% to Rs 116.30 crore on 47.7% jump in net sales to Rs 774.78 crore in Q2 FY26 over Q2 FY25.

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