Summary: Waaree Energies signs a 150 MW solar power agreement with RUMSL and MPPMCL. The company also reported a robust ₹47,000 crore order book and strong annual growth.
The share price of Waaree Energies mostly traded flat on Thursday. As of 12:25 am IST, Waaree Energies Ltd is trading at ₹2,878.10, showing an intraday decrease of 0.2%. The stock has delivered decent returns of 7.14% over the past month, 35.34% in the last 3 months, and 15.20% over the past year.
Waaree Energies Limited, a prominent player in the renewable energy sector, announced today the signing and execution of a Power Purchase Agreement (PPA) with Rewa Ultra Mega Solar Limited (RUMSL) and M.P. Power Management Company Limited (MPPMCL). This agreement is for the supply of 150 MW of solar power to MPPMCL.
This development follows an earlier intimation dated December 11, 2024, wherein Waaree Energies Limited had informed about its wholly-owned subsidiary, Waaree Forever Energies Private Limited (WFEL), receiving a Letter of Award (LoA) from RUMSL for the development of a 170 MW solar power plant in Madhya Pradesh. The execution of this project will now be undertaken directly by Waaree Energies Limited.
The project is designed to facilitate the generation and transmission of clean, renewable energy through the Inter-State Transmission System (ISTS) and will supply clean energy to both MPPMCL and Indian Railways, significantly contributing to India's renewable energy targets.
As of the beginning of Q1FY26, the company has a total order book of ₹47,000 crore, where 43% of orders are from domestic clients and 57% from international clients.
Waaree Energies reported strong quarterly results for the period ending March 2025, with revenue from operations rising to ₹4,003.93 crore, marking a 36.38% year-on-year growth compared to ₹2,935.84 crore in the same quarter last year. Profit after tax also saw a significant increase of 35.63%, reaching ₹644.47 crore against ₹475.16 crore in March 2024, indicating improved operational efficiency and growing demand in the solar energy sector.
For the full financial year ending March 2025, Waaree Energies posted revenue from operations of ₹14,444.50 crore, up 26.73% from ₹11,397.61 crore in the previous year. Profit after tax showed even stronger growth, surging 51.30% to ₹1,928.13 crore from ₹1,274.38 crore in FY24. These strong annual figures underline the company’s expanding market presence and successful execution of its growth strategy in the renewable energy industry.
Waaree Energies Limited is India's largest solar panel manufacturer, with a capacity of 12 GW. The company specialises in solar PV module manufacturing, offering a wide range of solar products and services, including solar EPC (Engineering, Procurement, and Construction) services, project development, and solar rooftop solutions. They cater to various sectors, including residential, commercial, industrial, and utility-scale projects.
Disclaimer: The article is for informational purposes only and not investment advice.
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