Waaree Energies has secured a substantial order for 105 MW of domestic solar modules, reinforcing its position as a leading solar PV module manufacturer in India. The order, received from a reputed customer on January 8, 2026, adds significant value to the company's already robust order book of ₹47,000 crores.

Order Details and Strategic Impact

The latest order comes from a reputed customer involved in owning, operating, and developing renewable power projects across India. This contract represents a one-time supply arrangement with no related-party involvement, ensuring clean governance and arm's-length execution.

The order strengthens Waaree's positioning within India's utility-scale solar ecosystem and provides incremental visibility in the near-term module dispatch pipeline. This development supports capacity utilization across the company's manufacturing facilities and contributes to the acceleration of renewable project commissioning in the country.

Strong Financial Performance

Waaree Energies demonstrated exceptional financial growth in Q2 FY26, with significant improvements across key metrics compared to the previous year.

The company's revenue surge of 70% year-on-year reflects strong operational performance and market demand for solar modules. The net profit growth of over 133% demonstrates improved operational efficiency and margin expansion.

Robust Order Book and Market Position

Waaree Energies maintains a commanding market position with substantial order visibility and global reach. The company's current order book provides clear execution and revenue visibility for sustained growth.

The geographic distribution of orders highlights Waaree's growing global footprint while maintaining a strong domestic presence. The substantial pipeline exceeding 100 GW indicates robust future project flow, supporting sustained growth and capacity utilization.

Market Valuation and Trading Metrics

With shares closing at ₹2,548, Waaree Energies commands a market capitalization of ₹73,230 crores. The company trades at a PE ratio of 27, which is competitive compared to the industry average of 29, suggesting reasonable valuation relative to sector peers.

The latest order reinforces Waaree's strategic importance as solar developers increasingly favor stable, domestic suppliers for their renewable energy projects. This trend positions the company well to capitalize on India's expanding solar installation capacity and growing renewable energy sector.

Waaree energies Ltd has secured a substantial order to supply 105 MW solar modules to a well-known domestic client, with the project scheduled for completion in FY 2025-26. This development adds to the company's expanding order book in the renewable energy sector.

Order Details

The solar module supply contract represents a significant business win for Waaree Energies in the domestic market. The order specifications are outlined below:

Market Position

This order reinforces Waaree Energies' strong position in India's solar module manufacturing landscape. The company continues to secure orders from domestic clients, demonstrating the growing demand for locally manufactured solar solutions. The 105 MW capacity represents a substantial addition to the company's order book.

Project Timeline

The completion timeline of FY 2025-26 provides Waaree Energies with adequate time for manufacturing and delivery of the solar modules. This timeframe aligns with the company's production capabilities and allows for systematic execution of the project while maintaining quality standards.

The order win highlights the continued growth trajectory of India's renewable energy sector and Waaree Energies' ability to capitalize on domestic market opportunities. The company's focus on serving well-established domestic clients strengthens its market presence in the solar module supply chain.