Waaree Renewable Technologies Limited (WRTL) has announced strong financial results for the second quarter and half-year ended September 30, 2025, showcasing significant growth in revenue and profitability. The company's board has also approved capital expenditure budgets for three new solar plant projects, signaling an aggressive expansion strategy in the renewable energy sector.

Financial Highlights

WRTL reported impressive consolidated financial results for Q2 FY26:

The company's performance for the first half of FY26 was equally strong:

Segment Performance

WRTL's growth was primarily driven by its EPC (Engineering, Procurement, and Construction) contracts segment:

• EPC Contracts Revenue: ₹1,36,358.95 lakhs in H1 FY26, up from ₹74,818.62 lakhs in H1 FY25
• Power Sale Revenue: ₹1,437.55 lakhs in H1 FY26, compared to ₹1,263.46 lakhs in H1 FY25

Expansion Plans

The Board of Directors has approved capital expenditure budgets for three new solar plant projects:

1. 14 MWp/10 MWac IPP Solar Plant at Bhurikavate Akkalkot, Maharashtra
2. 14 MWp/10 MWac IPP Solar Plant at Hunnur Mangalvedha, Maharashtra
3. 37.5 MWp/25 MWac IPP Solar Plant at Bikaner, Rajasthan

These projects underscore WRTL's commitment to expanding its renewable energy portfolio and strengthening its position in the solar power sector.

Employee Stock Option Plan

The company has also approved a postal ballot notice seeking shareholder approval for amendments to the Waaree Renewable Technologies Limited - Employee Stock Option Plan 2022 (Waaree RTL ESOP 2022). This move is likely aimed at attracting and retaining top talent in the competitive renewable energy industry.

Balance Sheet Strength

As of September 30, 2025, WRTL's consolidated balance sheet showed:

• Total Assets: ₹1,45,145.15 lakhs, up from ₹1,12,012.33 lakhs on March 31, 2025
• Total Equity: ₹65,761.92 lakhs, compared to ₹45,495.07 lakhs at the end of FY25

The significant increase in total assets and equity reflects the company's growth and improved financial position.

Outlook

Waaree Renewable Technologies Limited's strong financial performance and strategic expansion plans position it well in the rapidly growing renewable energy market. The company's focus on EPC contracts and increasing power generation capacity through new solar plants indicates a clear growth strategy aligned with India's push towards clean energy.

As the renewable energy sector continues to gain momentum, WRTL's robust financial results and expansion initiatives suggest it is well-positioned to capitalize on the increasing demand for solar power solutions in India.

Waaree Renewable Technologies Limited (WAAREERTL) has clinched a significant contract in the renewable energy sector, marking a major milestone for the company. The subsidiary of Waaree Energies Limited has been awarded a Letter of Award (LOA) for a large-scale solar power project, showcasing its growing prominence in the green energy landscape.

Project Details

WAAREERTL has secured an Engineering, Procurement, and Construction (EPC) contract for an impressive 870 MWac/1218 MWp grid-connected ground mount solar power project. The scope of work includes:

• Construction of a 33kV/400kV substation
• Transmission line works
• Two years of operation and maintenance services

Financial Implications

The contract value stands at approximately INR 1,252.43 crore, excluding taxes. This substantial figure underscores the project's scale and potential impact on WAAREERTL's financial outlook.

Project Timeline

According to the company's disclosure, the project is slated for completion in the financial year 2026-27, aligning with the terms specified in the order.

Related Party Transaction

Interestingly, the contract was awarded by Waaree Forever Energies Private Limited (WFEPL), a subsidiary of WAAREERTL's holding company. This makes the transaction a related party deal, adding a layer of corporate intricacy to the project.

Market Impact

The news of this significant contract has potential implications for WAAREERTL's market position. It demonstrates the company's capability to handle large-scale renewable energy projects and could bolster investor confidence in its growth trajectory.

Regulatory Compliance

WAAREERTL has duly informed the stock exchanges about this development, complying with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company's prompt disclosure aligns with regulatory requirements and ensures transparency for its stakeholders.

This contract represents a substantial opportunity for WAAREERTL to strengthen its foothold in the renewable energy sector. As the project unfolds, it will be interesting to observe its impact on the company's performance and the broader solar energy landscape in India.