Waaree Renewable gains after securing additional Rs 31 crore under existing solar EPC order

Waaree Renewable Technologies (WRTL) rose 1.19% to Rs 983.85 after the company announced the receipt of an enhancement in the scope of work under an existing contract from one of India?s leading renewable energy companies.

The revised order pertains to the execution of Engineering, Procurement and Construction (EPC) works for a solar power project with a capacity of 980 MWp / 700 MWac. Following the enhancement, the contract value has increased by Rs 30.91 crore, taking the total order size to Rs 1,044.69 crore, inclusive of taxes.

The company clarified that while the commercial value of the contract has increased, the aggregate project capacity remains unchanged at 980 MWp / 700 MWac, as originally disclosed on 20 February 2024. All other terms and conditions of the contract remain unchanged. The execution timeline will be mutually decided between the parties.

WRTL further stated that the contract does not qualify as a related-party transaction and that neither the company's promoters nor promoter group entities have any interest in the awarding entity.

The company clarified that the contract does not constitute a related-party transaction and that neither its promoters nor promoter group entities have any interest in the award.

Waaree Renewable Technologies (WRTL) is a subsidiary company of the Waaree Group and is spearheading the Solar EPC business. We are also a solar developer that finances, constructs, owns, and operates solar projects. Headquartered in Mumbai, we operate across geographies, focusing on long-term investments within the commercial and industrial customer segments.

On the financial front, the company reported a 66.02% year-on-year increase in consolidated net profit to Rs 155.74 crore for the quarter ended March 2026, compared with Rs 93.81 crore in the corresponding quarter of the previous year. Consolidated revenue from operations surged 131.31% to Rs 1,102.40 crore from Rs 476.58 crore reported in the quarter ended March 2025.

Powered by Capital Market - Live News