Waaree Renewable Technologies Limited has announced a credit rating upgrade from India Ratings, enhancing its financial profile with an improved assessment of its bank loan facilities. The company informed stock exchanges about this positive development on January 09, 2026, pursuant to regulatory disclosure requirements under SEBI regulations.

Credit Rating Enhancement Details

India Ratings has upgraded the company's bank loan facilities rating, reflecting improved creditworthiness and financial stability. The rating upgrade demonstrates the company's strengthened financial position and enhanced ability to service its debt obligations.

Facility Structure and Banking Arrangement

The upgraded bank loan facilities are provided by the Indian Renewable Energy Development Agency Limited (IREDA), a specialized financial institution supporting renewable energy projects. The facility amount reduction from ₹289.40 crores to ₹258.00 crores indicates effective debt management and potentially improved cash flow position.

Regulatory Compliance and Timeline

The company received the rating communication from India Ratings on January 08, 2026, at 6:00 PM and promptly disclosed the information to BSE and NSE on January 09, 2026. This demonstrates adherence to regulatory timelines and transparency requirements under SEBI listing obligations.

Rating Agency Assessment

India Ratings' upgrade reflects their assessment of Waaree Renewable Technologies' improved credit profile and financial metrics. The rating agency has maintained a stable outlook, indicating confidence in the company's medium-term financial prospects and operational performance. The detailed credit rating rationale has been made available on India Ratings' official website for stakeholder reference.

This credit rating upgrade positions Waaree Renewable Technologies favorably for future financing requirements and reflects positively on the company's financial management and business fundamentals in the renewable energy sector.

Waaree Renewable Technologies Ltd shares declined 2.5% to ₹906.50 following news of a revised Letter of Award (LoA) for its major solar power project. The company received an adjusted contract for its grid-connected ground-mounted solar power project, with significant changes to the project scope and value.

Project Revision Details

The solar power project has undergone substantial modifications due to evacuation constraints and optimization of DC overloading requirements. The project capacity has been adjusted to 704 MWac/1,000 MWp, resulting in a notable financial impact.

The company clarified that despite the reduction in capacity and corresponding value, all other terms, conditions, and pricing structures remain unchanged from the original agreement.

Strong Financial Performance

Despite the project revision, Waaree Renewable Technologies demonstrated robust financial results in Q2FY26. The company's consolidated performance showed significant growth across key metrics.

Half-Year Performance Highlights

The company's H1FY26 performance further reinforced its strong operational momentum, with substantial year-over-year improvements across revenue and profitability metrics.

Market Position and Stock Performance

The stock has faced headwinds over the past year, declining 27.58% in the 12-month period and 6.33% year-to-date. Currently, no brokerages provide coverage on the stock. Despite the order revision, the 704 MWac project represents a significant undertaking in India's renewable energy sector, demonstrating the company's capability to execute large-scale solar installations aligned with the country's clean energy transition objectives.