Synopsis:
Waaree Energies is in focus after its U.S. subsidiary, Waaree Solar Americas, received a one-time international order to supply 500MW solar modules in FY 2026–27 from a major U.S.-based energy developer.
Market leader stock engaged in the business of manufacturing and supplying solar cells and modules was in focus in the day’s trade after receiving an international work order to supply solar modules to a major USA-based solar project developer.
With the market capitalization of Rs. 89,145 crores, the shares of Waaree Energies Ltd were trading at Rs. 3,114, down by 0.26 percent from its previous day’s close price of Rs. 3,122 per equity share.
Work Order
Waaree Solar Americas, a wholly owned subsidiary of Waaree Energy Ltd, received a one-time international order on July 19, 2025, for the supply of 500MW solar modules during FY 2026-27 from a renowned U.S.-based developer of utility-scale solar and energy storage projects.
About the Company & Others
Waaree Energies Limited
Waaree Energies Limited (WEL), founded in 1990 and headquartered in Mumbai, is India’s largest solar PV module manufacturer with a total installed capacity of 15 GW as of June 2025. The company has five manufacturing facilities in Gujarat and Noida, as well as a 1.6 GW module facility in the USA and a 5.4 GW solar cell plant in Gujarat.
Focused on delivering cost-effective and sustainable energy solutions, Waaree plays a key role in India’s renewable energy transition with a growing international presence. In the beginning of Q1FY26, they had an order book worth Rs. 47,000 crores, in which 43 percent was from India and the rest was from overseas.
The company’s revenue for FY2024–2025 increased by 26.72 percent year over year from 11,398 crores to Rs. 14,444 crores. Net profit saw a sharp incline of 51.33 percent, from Rs. 1,274 crores to Rs. 1,928 crores.
At the moment, the company’s P/E ratio is 47.6x as compared to its industry P/E 43x, and its ROE and ROCE are 27.6 percent and 35.1 percent, respectively. The D/E ratio of the company stands at 0.13.
Waaree Solar Americas Ltd
Waaree Solar Americas is the U.S. unit of Waaree Energies with a 3.2 GW solar module plant (1.6 GW operational, 1.6 GW under execution). It focuses on providing high-quality, locally made solar panels for the North American market. The company has earned top industry awards for its product quality and is committed to supporting clean energy through reliable and customer-focused solutions.
Written by Akshay Sanghavi
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