Waaree Renewable Technologies Under Pressure: Revised Solar Order Slashed by Rs 212 Crore
Shares of Waaree Renewable Technologies Ltd are in focus today, on the back of receiving a revised Letter of Award (LoA) for its grid-connected ground-mounted solar power project. The project, with a capacity of 704 MWac/1,000 MWp, has undergone adjustments due to evacuation constraints and optimization of DC overloading.
Revised Contract Value and Project Timeline
As a result, the contract value has been reduced from Rs 1,252.43 crore to Rs 1,039.60 crore (excluding taxes), marking a downward revision of Rs 212.83 crore. The project is expected to be completed in financial year 2026-27. The company clarified that aside from the reduction in capacity and corresponding value, all other terms, conditions, and pricing structures remain unchanged.
Financial Performance of Waaree Renewable Technologies
Financially, Waaree delivered strong performance in Q2FY26, reporting consolidated revenue of Rs 774.7 crore, a 47.7% increase from Rs 524.4 crore in Q2FY25. Profit after tax surged 117.4% to Rs 116.3 crore, while EBITDA more than doubled to Rs 157.9 crore, with margins improving to 20.4% from 13.6% a year earlier. For H1FY26, revenue rose 81.1% YoY to Rs 1,377.9 crore, and PAT jumped 148.1% to Rs 202.7 crore.
Impact on Stock Performance
Waaree Renewable Technologies shares are trading 2.5% lower, at Rs 906.50 apiece. The shares have fallen 27.58% in 12 months, and 6.33% just this year. No brokerages have coverage on this stock currently. Despite the financial adjustment, the 704 MWac project underscores Waaree’s strong position in India’s renewable energy sector. The scale of the project highlights the company’s ability to execute large solar installations, aligning with India’s clean energy transition goals.
Indian Renewable Energy Sector Outlook
India has set ambitious targets to increase its renewable energy capacity, with a focus on solar and wind power. The government has implemented various policies and incentives to encourage the adoption of renewable energy sources. As a result, the Indian renewable energy sector is expected to continue growing, with opportunities for companies like Waaree Renewable Technologies to play a significant role. To learn more about the Indian renewable energy sector, visit our website.
Investment Opportunities in Renewable Energy
Investors looking to tap into the growing renewable energy sector can consider companies like Waaree Renewable Technologies, which have a strong track record of executing large solar projects. However, it’s essential to conduct thorough research and analysis before making any investment decisions. For more information on renewable energy investment opportunities, visit our website.
Conclusion
In conclusion, the revised solar order for Waaree Renewable Technologies has had a negative impact on the company’s stock performance. However, the company’s strong financial performance and its position in the Indian renewable energy sector suggest that it has the potential to bounce back. Investors should keep a close eye on the company’s progress and consider Indian stock market news and analysis to make informed investment decisions.