Waaree Energies Secures 150 MWp Solar Module Order From Domestic Renewable Power Firm

Waaree Energies Limited, a leading player in the solar energy sector, announced receiving a significant order for the supply of solar PV modules. The order, awarded by a domestic entity engaged in renewable power projects, is for 150 MWp capacity.

Key Details of the Order

• Type of Contract: One-time supply of solar PV modules.
• Timeline: Delivery is scheduled to commence in FY 2025-26.
• Commercial Scope: 150 MWp supply for renewable energy projects.

Strategic Impact

This development underlines Waaree Energies’ continued efforts to strengthen its foothold in the renewable energy market. The contract demonstrates its ability to secure large-scale orders and support India’s push toward sustainable energy solutions.

No Promoter or Related Party Involvement

The company clarified that this transaction does not involve any related-party dealings, and the promoters have no interest in the awarding entity.

Financial Performance

For Q2FY25, Waaree Energies’ consolidated revenue came in flat year-on-year (YoY) at ₹3,574 crore, against ₹3,537 crore in Q2FY24. EBITDA margins came at 14.7% against 14.6% in a year ago quarter.

On a sequential basis, margins contracted by 152 bps from 16.2%in Q1FY25. Profit after tax (PAT) surged 17% YoY at ₹376 crore led by other income. The company reported other income of ₹89.09 crore against ₹21.25 crore in the year-ago quarter. 

Share Price Performance

Despite the announcement, Waaree Energies’ share price was trading down by 0.81% as of 11:18 AM on January 2, 2025.

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