Waaree Renewable Technologies Limited (WRTL) has announced a significant proposed amendment to its Employee Stock Option Plan 2022 (Waaree RTL ESOP 2022), seeking shareholder approval through a postal ballot. The company aims to extend the maximum vesting period for stock options from the current 4 years to 10 years from the date of grant.

Key Highlights of the Proposed Amendment

• Extended Vesting Period: The maximum vesting period for stock options to be increased from 4 years to 10 years.
• Minimum Vesting Period: Remains unchanged at 1 year from the date of grant.
• Flexibility: The Nomination and Remuneration Committee retains discretion to grant options with specific vesting periods within the new range.
• Objective: To foster long-term association of employees with the company.

Voting Process and Timeline

WRTL has outlined the following schedule for the postal ballot:

| Event | Date | |---------------------------|---------------------------|: | E-voting Commencement | October 16, 2025, 9:00 AM | | E-voting Conclusion | November 14, 2025, 5:00 PM| | Cut-off Date for Eligibility | October 10, 2025 |

Shareholders can cast their votes electronically through the remote e-voting system provided by Central Depository Services (India) Limited (CDSL).

Impact and Implications

The proposed amendment, if approved, will apply to future grants of stock options. The company asserts that this change is not prejudicial to the interests of existing option holders. Key Managerial Personnel (KMPs) may be deemed interested in the resolution to the extent of employee stock options granted to them.

Company's Perspective

WRTL's Board of Directors, following the recommendation of the Nomination and Remuneration Committee, views this amendment as a strategic move to enhance long-term employee retention and alignment with the company's growth objectives.

Shareholders are encouraged to review the detailed postal ballot notice and explanatory statement provided by the company before casting their votes on this significant change to the ESOP structure.

Note: The results of the postal ballot will be announced within two working days from the conclusion of the e-voting period.

Waaree Renewable Technologies Ltd (WRTL) saw its shares soar 10% to Rs 1,244.00 on Thursday following the announcement of its stellar second-quarter results. The company's performance highlights its strong position in the rapidly growing renewable energy sector.

Financial Highlights

WRTL reported impressive financial results for Q2:

The company achieved its highest-ever quarterly revenue and profit, driven by robust execution and strong sectoral tailwinds.

Order Book and Future Projects

WRTL's future outlook appears promising, with:

• An unexecuted order book of 3.48 GWp, expected to be completed over the next 12-15 months
• A substantial bidding pipeline of over 27 GWp

The company's board has approved capital expenditure for new solar power plants in Maharashtra and Rajasthan, indicating continued expansion plans.

Market Performance

The stock's performance reflects investor confidence in WRTL's growth trajectory:

• Currently trading near its 52-week high of Rs 1,272.00
• Positioned above all key moving averages, suggesting bullish momentum

Industry Outlook

The robust performance of Waaree Renewable Technologies underscores the growing demand for renewable energy solutions in India. As the country pushes towards its clean energy goals, companies like WRTL are well-positioned to capitalize on the expanding market opportunities.

The solar energy sector in India continues to attract significant investments, driven by government initiatives and increasing corporate commitments to sustainability. WRTL's strong order book and expansion plans indicate its readiness to meet this rising demand.

Investors and industry observers will be keenly watching WRTL's execution of its current order book and its success in securing new projects from its extensive bidding pipeline. The company's ability to maintain its growth momentum in the coming quarters will be crucial in sustaining investor interest and market performance.