Synopsis: Small-Cap company shares rises 7% upon securing a contract for a 300 MWac/420 MWp solar EPC project, boosting its presence in India’s large-scale solar sector, set for completion in FY 2027-28.
The shares of a Small-Cap company specialising in end-to-end Solar Engineering, Procurement, and Construction (EPC) services for utility-scale, ground-mounted, and rooftop solar projects are in focus as they have rallied 7 percent in the day’s trade upon securing a contract to execute the Engineering, Procurement, and Construction (EPC) works.
With a market capitalization of Rs. 8,706.09 crores in the day’s trade, the shares of Waaree Renewable Technologies Ltd rose upto 6.8 percent, making a high of Rs. 853.00 per share compared to its previous closing price of Rs. 798.35 per share.
What Happened
Waaree Renewable Technologies Ltd, engaged in end-to-end Solar Engineering, Procurement, and Construction (EPC) services, informed that it has secured a contract to execute the Engineering, Procurement, and Construction (EPC) works for a 300 MWac / 420 MWp Ground Mount Solar PV Plant.
The order, received from a domestic renewable energy company, is a commercial project scheduled for completion in the financial year 2027-28. This marks a significant addition to Waaree Renewable Technologies’ solar EPC portfolio, reinforcing its presence in large-scale renewable energy infrastructure in India.
Financials
The company’s revenue rose by 136 percent from Rs. 360 crores in December 2024 to Rs. 851 crores in December 2025. Meanwhile, Net profit rose from Rs. 53 crores to Rs. 120 crores in the same period.
The company demonstrates strong financial performance with a ROCE of 82.3% and a ROE of 65.6%, supported by a low debt-to-equity ratio of 0.12, indicating a highly efficient use of capital with minimal leverage. Its PEG ratio of 0.11 compared to the industry PE of 23.8 and a stock P/E of 20.7 suggests the stock is attractively valued relative to its growth potential.
The company has delivered impressive growth, with a 143% CAGR in profits over the last five years, and maintains a solid 3-year ROE track record of 75%, reflecting consistent shareholder value creation. With expectations of another strong quarterly performance, the fundamentals indicate both robust profitability and continued growth momentum.
Waaree Renewable Technologies Ltd (WRTL) is a leading Indian company in the renewable energy sector, specializing in solar power generation and EPC (Engineering, Procurement, and Construction) projects. The company operates as a subsidiary of Waaree Energies Limited and is headquartered in Mumbai.
The company has achieved major EPC milestones, including the commissioning of 15 projects totalling 4.56 GWp and 2,922 MWp of projects currently under execution. Additionally, around 59.26 MWp of rooftop solar projects have been commissioned, and the O&M portfolio now spans approximately 1,180 MWp of solar power plant assets.
The organisation is also advancing in innovative solar solutions, with 2.29 MWp of floating solar projects and a dedicated in-house R&D team focused on new technology development. This commitment reflects a strong focus on both large-scale implementation and cutting-edge research in solar energy.
As of 9MFY26, the company maintains a large order book with strong execution, having 2,230 MWp of orders executed and generating Rs. 2,229 Crores in revenue from operations and its Unexecuted orderbook scaled at 2,922 MWp.
The company serves prestigious and diverse clientele, including industry leaders like ArcelorMittal, L&T, Reliance Industries Limited, and Aditya Birla Group, as well as major power producers such as NTPC, Jindal Power, and JSW. It also partners with global brands like Mondelez International and trusted names in green energy like INOX Green and Acciona, reflecting its strong market presence across multiple sectors and commitment to sustainable solutions.
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