Synopsis:
Waaree Group stock is in focus today after the company received an enhancement in the scope of work under the existing contract.
A small-cap company that is engaged in the business of generation of power through renewable energy sources, is in the spotlight today after receiving an enhancement of EPC Solar project in an existing contract worth Rs. 27.22 crore.
With a market capitalization of Rs. 12,186.42 crore, the shares of Waaree Renewable Technologies Limited were trading at Rs. 1,169, down by 0.83 percent from its previous closing price of Rs. 1,178.80. The stock has reached an intraday low of Rs. 1,162.50 in today’s trading session, implying a downside of 1.38 percent from previous day’s close price.
What’s the News?
Waaree Renewable Technologies Ltd has received an enhancement in the scope of work under its existing contract for the Engineering, Procurement, and Construction (EPC) of a 980 MWp / 700 MWac solar power plant on a turnkey basis. The contract’s terms and conditions remain unchanged, and the enhancement increases the commercial order value by Rs. 27.22 crore, taking the total to Rs. 1,017.82 crore (inclusive of taxes).
The order is awarded by a domestic renewable energy company, and the execution timeline will be mutually decided. This development reflects Waaree Renewable Technologies’ continued role in executing large-scale solar EPC projects and strengthens its position in India’s renewable energy sector.
Financial Outlook
In Q2 FY26, revenue climbed to Rs. 775 crore, showing a strong 47.9 percent year-on-year (YoY) increase compared to Rs. 524 crore in Q2 FY25, and a solid 28.5 percent quarter-on-quarter (QoQ) rise over Rs. 603 crore in Q1 FY26, indicating sustained growth momentum and higher operational efficiency.
Profit for Q2 FY26 rose sharply to Rs. 116 crore, reflecting a significant 114.8 percent YoY jump from Rs. 54 crore in Q2 FY25 and a 34.9 percent QoQ improvement from Rs. 86 crore in Q1 FY26, highlighting strong margin expansion and improved profitability across both YoY and QoQ periods.
At the moment, the company is trading at a price-to-earnings (P/E) ratio of 34.5x which is lower than the industry average of 35.4x. A return on equity (ROE) of about 65.6 percent, a return on capital employed (ROCE) of about 82.3 percent and debt to equity stands at 0.12 demonstrate the company’s financial position.
About the company
Waaree Renewable Technologies Limited, a Mumbai-based subsidiary of Waaree Energies, provides renewable power solutions across India. Incorporated in 1999, the company offers ground-mounted, rooftop, floating, and RESCO solar projects, EPC services, and O&M solutions, catering to individual, industrial, and commercial clients.
As of September 2025, the company’s shareholding pattern shows that promoters hold 74.39 percent of the total equity, indicating strong promoter ownership. Foreign Institutional Investors (FIIs) hold 1.38 percent, while Domestic Institutional Investors (DIIs) own 0.12 percent. The public shareholding stands at 24.12 percent, reflecting a healthy level of retail participation in the company.
Written By Akshay Sanghavi
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