Solar Shares Jump 4% on Rs.346.33 Crore Solar EPC Order from CESC

On Tuesday, Waaree Renewable Technologies share price rose 4.2 percent touching a day’s high price of Rs. 1,067.70 after they received an order worth around Rs. 346.33 crore from CESC Limited’s subsidiary, Purvah Green Power Private Limited, for the development of a 300 MW AC or 435 MW DC solar power generating station in Rajasthan. This contract covers project activities, including design, supply, installation, erection, testing, commissioning, and handover of the solar plant. The project is scheduled for completion within the financial year 2025-26, as per Letter of Award (LoA). This marks a significant step in CESC’s renewable energy growth strategy, with Waaree playing a central role as the engineering, procurement, and construction (EPC) partner. This order win adds to WRTL’s order book and its ability to secure in a large scale.

Waaree Renewable Technologies' recent financial and operational performance showcases its strength in the renewable sector. For the quarter ending March 2025, the company reported revenue of Rs. 476.52 crore, reflecting a 74.37 percent year-on-year increase. Net profit stood at Rs. 93.81 crore, almost doubling from Rs. 51.31 crore a year earlier. On a full-year basis, the company achieved record revenue growth of 82.29 percent year-on-year, with total revenue from operations reaching Rs. 1,597.75 crore in FY25, up from Rs. 876.50 crore in FY24. Profit after tax (PAT) for the year surged to Rs. 228.92 crore, representing a 57.64 percent jump over the previous year. The company’s EBITDA for FY25 was Rs. 310.90 crore, up from Rs. 207.18 crore in FY24, reflecting scale improvement.

The company’s unexecuted order book now stands at 3263 MWp, to be delivered over the upcoming months. Waaree Renewable Technologies has also expanded its capabilities into Battery Energy Storage Systems (BESS), positioning itself for the next phase of clean energy integration. In February 2025, it received a 40 MWh BESS order from Continuum Green Energy Limited at an estimated cost of Rs. 40 crore. Their portfolio includes ground-mounted, rooftop, and floating solar installations, as well as executed projects like India’s biggest floating solar power plant for NTPC.

They operate as a turnkey EPC (Engineering, Procurement and Construction) provider, as it handles every aspect of a solar power project from start to finish. The clients, which include businesses, government bodies, or utilities, trust Waree Renewable Technologies with the full process, like designing the plant, sourcing the best materials, constructing the facility, connecting it to the grid, and ensuring it operates smoothly.

This approach minimises hassle for clients and helps Waree Renewable expertise, scale, and supply chain to deliver reliable, cost-effective solar solutions. By expanding into energy storage and hybrid renewable solutions. It is well-positioned to meet the growing needs of the energy sector.