Waaree Renewable Technologies Limited (WRTL) on Thursday, January 8, announced that it has received a letter of award for a revised 704 MWac / 1,000 MWp grid-connected ground-mounted solar power project. The revision follows considerations related to evacuation infrastructure and DC overloading optimization, aimed at ensuring efficient project design and seamless grid integration.
As a result, the commercial order value has been revised from ₹1,252.43 crore to ₹1,039.60 crore (excluding taxes), reflecting a reduction of approximately ₹212.83 crore. The project is scheduled for completion in FY 2026–27, while all other terms, conditions, scope of work, and pricing structures remain unchanged.
Strong Financial Performance in Q2 and H1 FY26
WRTL reported robust financial results for the second quarter of FY26. Revenue increased 47.7% year-on-year to ₹774.7 crore, compared with ₹524.4 crore in Q2FY25. Profit After Tax (PAT) more than doubled to ₹116.3 crore, up 117.4% from ₹53.5 crore a year earlier. EBITDA surged to ₹157.9 crore, a rise of over 120%, with EBITDA margins expanding to 20.4% from 13.6% in the previous year.
For the first half of FY26, consolidated revenue stood at ₹1,377.9 crore, up 81.1% YoY, while PAT climbed 148.1% to ₹202.7 crore. EBITDA rose 149.1% to ₹275.5 crore, with margins increasing to 19.9% from 14.5% YoY. Despite the strong performance, WRTL shares closed at ₹932, down 1.39% on January 8.
Expanding Integrated Clean Energy Capabilities
The Waaree Group continues to strengthen its vertically integrated clean energy ecosystem, spanning solar modules, inverters, batteries, and energy storage solutions. Waaree Energies Ltd recently commissioned a 3.05 GW solar inverter manufacturing facility in Sarodhi-Valsad, Gujarat, while Waaree Energy Storage Solutions Pvt Ltd raised ₹1,003 crore (~USD 120 million) for a 20 GWh lithium-ion cell and battery pack plant, reinforcing the Group’s leadership in India’s energy transition.
Like other EPC players, WRTL plans to focus increasingly on storage-linked projects, expected to play a central role by FY28. The revised project and ongoing investments highlight Waaree’s commitment to sustainable, efficient, and grid-integrated solar energy solutions.
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