Business
Waaree Energies shares rise 2% on 500MW solar module supply order. Check details
The shares of the company rose to Rs 2,965.60 apiece in the morning trading hours, extending gains for the third consecutive session.
“This is to inform you that Waaree Energies Limited (‘the Company’) has received an order on February 23, 2026, for the supply of 500 MW solar modules from a renowned customer who is a solar power developer and engaged in the business of an Independent Power Producer,” the company said in a stock exchange filing on Monday.
The order is a one-time contract for the financial year 2026–27, under which the company will supply the entire 500 MW of solar modules within the timeline specified in the agreement. The contract has been awarded by a domestic entity.
In a separate development last week, the company said it is in talks with the government of Andhra Pradesh and certain other state governments to set up the proposed greenfield manufacturing facility of Lithium-Ion Advanced Chemistry Storage Cells and Battery Energy Storage Systems (BESS).
The move is part of the company’s plans to increase capacity from the existing 3.5 GWh to 20 GWh, with an additional capital expenditure of approximately Rs 8,000 crore in its wholly owned subsidiary, Waaree Energy Storage Solutions Private Limited (WESSPL). Its board had approved the plans on October 1, 2025.
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Waaree Energies Q3 snapshot
Waaree Energies reported a 26% quarter-on-quarter rise in net profit to Rs 1,062 crore, compared with Rs 842 crore in Q2. Revenue for the quarter increased 24.7% sequentially to Rs 7,656 crore from Rs 6,065 crore.
EBITDA in Q3 rose 37.2% quarter-on-quarter to Rs 1,928 crore from Rs 1,405 crore in the previous quarter. EBITDA margin improved to 25.5% from 23.2%, indicating higher operating leverage.
Waaree Energies share price has risen over 8% in the last 1 month.
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