Waaree Energies' arm secures order for supply of 236.22 MW solar modules

Waaree Energies announced that its wholly-owned subsidiary, Waaree Solar Americas Inc., has secured an order to supply 236.22 MW of solar modules.

According to the company's exchange filing, Waaree Solar Americas Inc. received the one-time order from a renowned customer that develops and manages sustainable infrastructure solutions, particularly in the renewable energy sector. The contract involves the supply of 236.22 MW solar modules, with deliveries scheduled during the first and second quarters of FY2027-28. The company said the order has been awarded by an international entity and is not a related-party transaction. Neither the promoter nor the promoter group has any interest in the customer.

Separately, Waaree Energies clarified that a recent determination by the U.S. Customs and Border Protection (CBP) has no impact on its ongoing manufacturing, customer deliveries or commercial operations. The company said the findings were limited to a narrow subset of historical import entries and did not conclude that it had exported solar modules made using Chinese-origin solar cells to the United States.

Waaree added that the CBP acknowledged its full cooperation, drew no adverse inference against the company and declined to make an evasion finding covering all of its imports. It also said the determination is not final and that it is evaluating available legal remedies.

A domestic brokerage retained its 'Add' rating on the stock with a target price of Rs 3,185, saying the downside appears limited as the findings were restricted to certain historical import entries and did not affect the company's ongoing U.S. operations.

Mumbai-based Waaree Energies is a renewable energy company. It offers innovative solar solutions, including panel manufacturing, EPC services, project development, and rooftop systems. On a consolidated basis, the company reported a 71.4% YoY jump in net profit to Rs 1,061.10 crore in Q4 FY26, compared with Rs 618.91 crore in the same quarter last year. Revenue from operations surged 111.8% YoY to Rs 8,480.25 crore for the quarter ended 31 March 2026.

Shares of Waaree Energies rose 0.26% to Rs 2,893.75 on the BSE.

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