Latest news with #LetterofAward
Mint
6 hours ago
- Business
- Mint
Waaree Renewable Technologies secures solar project order worth ₹345 crore in Rajasthan
New Delhi, Jun 3 (PTI) Waaree Renewable Technologies Ltd (WRTL) on Tuesday announced securing a solar project worth ₹ 345 crore in Rajasthan from a prominent domestic renewable energy generation company. The project is scheduled for completion in the financial year 2025-26, the company said. WRTL has secured a significant EPC order for a 300 MW AC (alternate current)/ 435 MW DC (direct current) ground-mounted solar photovoltaic project in Bikaner, Rajasthan. The order, valued at more than ₹ 345 crore, was awarded by a prominent domestic renewable energy generation company, the company said, without disclosing any further details. "This collaboration marks a significant milestone in our relationship, built on mutual trust, shared vision, and a commitment to sustainable growth. We value this partnership deeply and look forward to working closely together to deliver impactful outcomes now and into the future," said Sunil Rathi, Executive Director, WRTL. The scope of work includes engineering, procurement, construction and commissioning of the solar plant, along with the development of a 33/220 kV pooling substation. The project will also feature advanced robotic cleaning systems to ensure high performance and reduce long-term operations and maintenance (O&M) costs. Waaree Renewable Technologies said it has received a letter of award for setting up a solar power project under Mukhyamantri Saur Krushi Vahini Yojana-2.0 for ₹ 114.23 crore from a leading renewable energy firm. The project is scheduled to be completed in 2025-26 as per the terms of the order, a regulatory filing said. The company has been awarded the Letter of Award for the execution of engineering, procurement and construction works of the solar power project including operation and maintenance (O&M) of 94 MW AC/131.6 MW DC capacity. The order value is approximately ₹ 114.23 crore. This project will be executed under Mukhyamantri Saur Krushi Vahini Yojana-2.0. Waaree Renewable Technologies Ltd (WRTL) posted about 83 per cent rise in its consolidated net profit to ₹ 93.76 crore in the March quarter on account of higher income. It had reported a net profit of ₹ 51.31 crore in the January-March period of the preceding 2023-24, the company said in an exchange filing. The company's total income rose to ₹ 481.43 crore from ₹ 275.35 crore in the same quarter a year ago. Its expenses stood at ₹ 356.25 crore against ₹ 203.27 crore in the year-ago quarter.
Mint
8 hours ago
- Business
- Mint
Waaree Renewable Technologies secures solar project order worth ₹345 crore in Rajasthan
New Delhi, Jun 3 (PTI) Waaree Renewable Technologies Ltd (WRTL) on Tuesday announced securing a solar project worth ₹ 345 crore in Rajasthan from a prominent domestic renewable energy generation company. The project is scheduled for completion in the financial year 2025-26, the company said. WRTL has secured a significant EPC order for a 300 MW AC (alternate current)/ 435 MW DC (direct current) ground-mounted solar photovoltaic project in Bikaner, Rajasthan. The order, valued at more than ₹ 345 crore, was awarded by a prominent domestic renewable energy generation company, the company said, without disclosing any further details. "This collaboration marks a significant milestone in our relationship, built on mutual trust, shared vision, and a commitment to sustainable growth. We value this partnership deeply and look forward to working closely together to deliver impactful outcomes now and into the future," said Sunil Rathi, Executive Director, WRTL. The scope of work includes engineering, procurement, construction and commissioning of the solar plant, along with the development of a 33/220 kV pooling substation. The project will also feature advanced robotic cleaning systems to ensure high performance and reduce long-term operations and maintenance (O&M) costs. Waaree Renewable Technologies said it has received a letter of award for setting up a solar power project under Mukhyamantri Saur Krushi Vahini Yojana-2.0 for ₹ 114.23 crore from a leading renewable energy firm. The project is scheduled to be completed in 2025-26 as per the terms of the order, a regulatory filing said. The company has been awarded the Letter of Award for the execution of engineering, procurement and construction works of the solar power project including operation and maintenance (O&M) of 94 MW AC/131.6 MW DC capacity. The order value is approximately ₹ 114.23 crore. This project will be executed under Mukhyamantri Saur Krushi Vahini Yojana-2.0. Waaree Renewable Technologies Ltd (WRTL) posted about 83 per cent rise in its consolidated net profit to ₹ 93.76 crore in the March quarter on account of higher income. It had reported a net profit of ₹ 51.31 crore in the January-March period of the preceding 2023-24, the company said in an exchange filing. The company's total income rose to ₹ 481.43 crore from ₹ 275.35 crore in the same quarter a year ago. Its expenses stood at ₹ 356.25 crore against ₹ 203.27 crore in the year-ago quarter. Waaree Renewable Technologies Limited (WRTL) is an arm of Waaree Energies.
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Business Standard
17 hours ago
- Business
- Business Standard
Here's why Waaree Renewable share is buzzing in trade today; details
Waaree Renewable share price: Waaree Renewable Technologies (Waaree Renewable) shares were in demand on June 3, 2025, with the scrip rising up to 4.11 per cent to hit an intraday high of ₹1,068.05 per share. However, by 1:30 PM, Waaree Renewable shares were off day's high, and were trading merely 0.5 per cent higher at ₹1,031.05 per share. In comparison, BSE Sensex was trading 0.88 per cent lower at 80,656.39 levels. Why did Waaree Renewable share price rise? Waaree Renewable shares rose after securing a Letter of Award (LOA) worth approximately ₹346.33 crore from a renewable generation company, for the execution of Engineering, Procurement and Construction (EPC) works of a solar power project of 300 MW AC/435 MW DC capacity. In an exchange filing, Waaree Renewable said, 'We are pleased to inform that Waaree Renewable Technologies has been awarded Letter of Award (LOA) for the execution of Engineering, Procurement and Construction (EPC) works of solar power project of 300 MW AC/435 MW DC capacity.' Under the terms of the order, Waaree Renewable shall develop the Ground mount solar power project of 300 MW AC /435 MW DC capacity. Notably, the project is scheduled to be completed in the financial year 2025- 26 (FY26), Waaree Renewable revealed, in a statement. Waaree Renewable Q4 results Waaree Renewable's profit zoomed 82.73 per cent year-on-year (Y-o-Y) to ₹93.77 crore in the March quarter of financial year 2025 (Q4FY25), from ₹51.31 crore in the March quarter of financial year 2024 (Q4FY24). The company's revenue from operations climbed 74.37 per cent Y-o-Y to ₹476.58 crore in Q4FY25, from ₹273.31 crore a year ago. Earnings before interest, tax, depreciation and amortisation (Ebitda), or operating profit, jumped 67.79 per cent Y-o-Y to ₹126.33 crore, from ₹75.29 crore a year ago. Operating profit margin or Ebitda margin, however, squeezed to 26.51 per cent in the March quarter of financial year 2025, from 27.55 per cent in the March quarter of financial year 2024. Its unexecuted order book stood at 3.2 GWp, which is to be executed between 12-15 months. Meanwhile, the Bidding pipeline remains at about 30 GWp. About Waaree Renewable Waaree Renewable, a subsidiary of the Waaree Group, is at the forefront of India's Solar EPC (Engineering, Procurement, and Construction) landscape. Backed by the Group's strong legacy, which includes the successful installation of over 10,000 solar projects with a cumulative capacity exceeding 2.32 GW, Waaree Renewable plays a crucial role in the transition to clean energy. The company not only engineers and builds solar systems but also finances, owns, and operates solar power projects, establishing itself as a full-spectrum solar solutions provider. Headquartered in Mumbai, the company operates across multiple geographies with a focus on long-term investments, particularly within the commercial and industrial sectors. By offering both on-site solar installations—such as rooftop and ground-mounted systems—and off-site solar farms through open access models, Waaree Renewable enables clients to reduce their carbon footprint effectively.
Business Standard
18 hours ago
- Business
- Business Standard
Waaree Renewables Technologies wins order of Rs 346.33 cr
For solar power project of 300 MW AC/435 MW DC capacityWaaree Renewables Technologies has been awarded Letter of Award (LOA) for the execution of Engineering, Procurement and Construction (EPC) works of solar power project of 300 MW AC/435 MW DC capacity. The value of the order is Rs 346.33 crore. Powered by Capital Market - Live News
Business Upturn
21 hours ago
- Business
- Business Upturn
Waaree Renewables shares jump 4% on securing Rs 346 crore solar project
Shares of Waaree Renewables Technologies Ltd jumped nearly 4% in morning trade after the company announced it had secured a significant Letter of Award (LOA) for a large-scale solar project. The contract involves the Engineering, Procurement, and Construction (EPC) of a 300 MW AC / 435 MW DC ground-mounted solar power project awarded by a domestic renewable energy generation company. The total value of the contract is approximately ₹346.33 crore, excluding taxes, marking a notable addition to Waaree's growing portfolio of solar infrastructure projects. This order strengthens the company's position as a key player in India's renewable energy sector, particularly in utility-scale solar EPC execution. Advertisement This commercial order, entirely domestic in nature, is scheduled to be executed during the financial year 2025–26, further boosting Waaree's order book and revenue visibility for the upcoming fiscal period. Investors responded positively to the news, reflecting confidence in the company's execution capabilities and future growth potential. Waaree Renewables shares opened at ₹1,025.00, hitting a high of ₹1,067.70 and a low of ₹1,022.10 during the session. The stock remains close to its 52-week high of ₹1,170.00, indicating strong upward momentum. Its 52-week low stands at ₹841.15. Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.
