Indian green energy firm Waaree Energies Limited has secured a substantial order for the supply of 2 GW (gigawatts) of solar modules. The company announced on September 21, 2026, that it received the one-time order from a prominent domestic solar developer.
The extensive module supply is scheduled for the financial years 2026-27 and 2027-28, marking a significant commitment in the renewable energy sector. Despite the positive news, Waaree Energies' stock concluded the previous trading session down by 1.35%, closing at Rs 2501.
Order Details and Market Context
The order specifies the delivery of 2 GW of solar photovoltaic (PV) modules, crucial components for large-scale solar power projects. This development underscores Waaree Energies' position as a key player in India's burgeoning solar energy market.
On the day of the announcement, approximately 0.22 lakh shares of the company were traded, accounting for a turnover of Rs 5.54 crore. The firm's market capitalization stood at Rs 71,941 crore.
Financial Performance Update
Waaree Energies has also reported robust financial results for the first quarter of the financial year 2026-27 (Q1 FY27). The company's consolidated net profit surged by 14% year-on-year (YoY) to Rs 850 crore, up from Rs 745 crore in the same period last year.
Revenue from operations saw an even more impressive increase, climbing 79% to Rs 7,932 crore in Q1 FY27, compared to Rs 4,426 crore YoY. Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) also grew significantly by 44% to Rs 1,440 crore from Rs 997 crore in the corresponding quarter of the previous fiscal year.
However, the EBITDA margin for the quarter experienced a contraction, falling to 18.15% from 22.53% YoY.
About Waaree Energies
Waaree Energies is a leading Indian manufacturer of solar PV modules, boasting an aggregate installed capacity of 12 GW. Its diverse product portfolio includes various types of PV modules, such as multicrystalline, monocrystalline, and TopCon modules, catering to different market needs and technological advancements in solar energy.