Shares of Waaree Renewable Technologies Ltd swung green and 0.8% higher after opening 3.5% lower on 31 July after the company announced securing an Engineering, Procurement, and Construction (EPC) contract worth Rs 30 crore. 

Waaree Renewable Technologies has secured a revised scope under its ongoing EPC contract for a ground-mounted solar PV project. The revision adds Rs 29.65 crore to the existing order value, raising the total project worth to Rs 1,510.06 crore (excluding taxes).

However, the project’s total installed capacity remains unaltered at 2012.47 MWp, as originally stated on 27 November 2024. This is the second scope revision, after an update on 20 June 2025.

Waaree reported a Return on Capital Employed (ROCE) of 84.8% in March 2025, a Return on Equity (ROE) of 65%, and a Return on Assets (ROA) of 25.6%. The company is still essentially debt-free, with a debt-to-equity ratio of just 0.06 and total borrowings of Rs 27 crore. At the end of fiscal year 25, net cash flow totalled Rs 17 crore.

The company reported sales of Rs 603 crore in the June 2025 quarter, a 26.4% increase from Rs 477 crore in the previous quarter. However, net profit fell 8.5% to Rs 86 crore from Rs 94 crore in Q4FY25.

Waaree Renewable Technologies Ltd, founded in 1999, generates power from renewable sources and provides clean energy advisory services.

It is a subsidiary of Waaree Energies and belongs to one of India’s leading vertically integrated new energy corporations.  The business operates India’s largest solar panel manufacturing facility, with a combined capacity of 12 GW spread over three units in Gujarat: Chikhli, Surat, and Umbergaon.

At 2:15 pm, the shares of Waaree Renewable Technologies were trading 0.16% higher at Rs 1,063.20 on NSE.

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