Latest news with #WaareeRenewableTechnologiesLtd
Business Upturn
2 days ago
- Business
- Business Upturn
Waaree Renewable shares slip over 5% after termination of major solar EPC project
Shares of Waaree Renewable Technologies Ltd came under pressure in Monday's trade, sliding over 5% in early morning deals, after the company announced the cancellation of a key solar EPC contract. As of 9:29 AM, the shares were trading 5.24% higher at Rs 1,123.90. In a stock exchange filing, Waaree said it received a notice on July 19, 2025, at 3:30 p.m., informing it of the cancellation of a 125 MWAC (181.3 MWp DC) turnkey solar power project. The contract was awarded to a consortium in which Waaree was a member. The project—originally slated to be completed within 18 months—was being executed for the Assam Power Distribution Company Limited (APDCL). However, APDCL has now called off the project after the Government of Assam decided to withdraw the plan from the Asian Development Bank (ADB) funding framework. With the funding support no longer available, APDCL stated that continuing the project is not viable, leading to a full withdrawal of the awarded work. The scope included EPC (engineering, procurement, and construction) as well as operations and maintenance. Waaree has not yet quantified the financial impact of this development but said it would update stakeholders as more clarity emerges. The cancellation is seen as a temporary setback for the company, which has been steadily growing its renewable energy presence both in India and abroad. 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. Ahmedabad Plane Crash Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at
News18
6 days ago
- Business
- News18
Waaree Renewable Technologies net profit grows 3-fold to Rs 86 cr
New Delhi, Jul 17 (PTI) Waaree Renewable Technologies Ltd (WRTL) has posted an over three-fold rise in consolidated net profit to Rs 86.39 crore in April quarter, driven by higher revenues. It had clocked a net profit of Rs 28.16 crore in the first quarter of preceding 2024-25, the company said in a statement. The company's revenue from operations rose to Rs 603.19 crore, more than double of Rs 236.35 crore revenues the company had garnered in the April-June period a year ago. Manmohan Sharma, CFO, Waaree Renewable Technologies Limited, said, 'Our performance reflects the strength of our business model, our disciplined operational approach, and our ability to execute large-scale projects efficiently in a rapidly evolving clean energy landscape." With a strong order book of 3.15 GWp in solar EPC and 40 MWh in Battery Energy Storage System (BESS) EPC, the company is well equipped to deliver large-scale integrated energy projects. In Q1FY26, revenue from EPC contracts stood at Rs 594.39 crore, while the power sale segment contributed Rs 8.78 crore. This hybrid revenue model is delivering consistent, predictable cash flows and fuelling sustainable growth. view comments First Published: July 17, 2025, 19:15 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
News18
6 days ago
- Business
- News18
Waaree Renewable Tech Q1 FY26 Results: Profit Up 207%; Revenue Doubles to Rs 603 Cr
Last Updated: Waaree Renewable Technologies Ltd reported a net profit jump to Rs 86.38 crore in Q1 FY26, up from Rs 28.16 crore last year. Waaree Renewable Tech Q1 FY26 Results: Waaree Renewable Technologies Ltd (WRTL) on Thursday reported that its net profit jumped 207 crore to Rs 86.38 crore in the first quarter of FY2025-26, compared to Rs 28.16 crore in the same period last year. Consolidated revenue from operations surged 155% YoY to Rs 603 crore, up from Rs 236 crore in Q1FY25, driven by strong EPC project execution and higher power sales. Following the Q1 FY26, shares of Waaree Renewable Technologies Ltd fell 1.62 per cent on BSE to trade at Rs 1184.05 apiece. The scrip earlier opened at Rs 1233.85 apiece compared to the previous day close at Rs 1203.50 apiece. Shares gained 18 per cent in the past five sessions. Waaree Renewable Technologies Ltd has a market cap of Rs 12343 crore. Its IPO came last year. EBITDA (calculated as PBT + finance cost + depreciation – other income) stood at approximately Rs 113.97 crore, registering a jump of over 191% YoY from Rs 39.17 crore in the same period last year. Improved project scale and operating efficiency helped boost margins. Despite a one-time exceptional charge of Rs 4.02 crore related to GST interest, the company posted a profit before tax (PBT) of Rs 116.57 crore, up from Rs 39.27 crore in Q1FY25. Segment-wise, revenue from EPC contracts rose from Rs 228.66 crore to Rs 594.40 crore—a growth of nearly 160%. Power sales also increased by over 14%, from Rs 7.70 crore to Rs 8.79 crore. On the strategic front, WRTL announced an investment of Rs 7.98 crore for a 3.23% stake in Smart Joules Pvt Ltd, marking its expansion into energy efficiency alongside renewables. The Company offers energy savings by providing cooling solutions to building and factories. Investment is part of WRTL' s strategic initiative to expand its presence and strengthen its capabilities across the renewable energy and energy efficiency ecosystem. SJPL operates in a complementary sector aligned with WRTL' s long-term vision of integrated clean energy solutions. view comments First Published: Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Time of India
23-06-2025
- Business
- Time of India
Waaree signs MoU for 100MWp solar EPC project in Vietnam's Daklak province
New Delhi: Waaree Renewable Technologies Ltd has signed a non-binding Memorandum of Understanding (MoU) with Viet Khanh Joint Stock Company to execute turnkey engineering, procurement and construction (EPC) works for a 100MWp photovoltaic solar power project in Ea Mdrod commune, Cư Mgar district, Daklak province of Vietnam. This is the second collaboration between the two companies after the successful commissioning of a 49.5MW solar project in Cam Ranh province in 2019. According to the MoU, Waaree will undertake the complete design, engineering, construction, testing and commissioning of the solar power plant, which will be connected to Vietnam's national power grid. The earlier 49.5MW solar project delivered by Waaree during 2018–19 is regarded as one of the highest performing solar installations in Vietnam. 'Waaree Group's 49.5MW solar project delivered in 2018–19 has remained one of the highest performing solar installation in Vietnam till date. This unmatched performance and professionalism form the foundation of our renewed trust. We are pleased to extend our collaboration with Waaree for this upcoming 100MWp project and look forward to building one of the most efficient clean energy assets in the region,' said Dinh Xuan Hai Sang, Chairman, Viet Khanh Joint Stock Company. The 100MWp solar project, once operational, is expected to offset more than 130,000 metric tons of carbon dioxide emissions annually, which is equivalent to planting over two million trees per year. 'We are honored to deepen our partnership with Viet Khanh through this landmark 100MWp solar project. This collaboration reflects Waaree Group's strong reputation in delivering high-performance, bankable solar infrastructure globally. Our commitment to quality, sustainability, and energy transition aligns perfectly with Vietnam's national energy vision,' said Viren Doshi, Executive Director, Waaree Renewable Technologies Ltd. The project is aligned with Vietnam's Power Development Plan 8 (PDP8), which targets 30.9 per cent renewable energy share by 2030. It also complements India's Act East Policy by strengthening cross-border clean energy cooperation in Southeast Asia. Waaree has deployed over 20GW of solar capacity across more than 20 countries and is India's largest solar module manufacturer. The company brings integrated capabilities in module manufacturing and EPC execution. The project is expected to contribute to the reduction of fossil fuel dependence, improvement in air quality, and serve as a replicable model for renewable energy development in rural and semi-urban regions of Vietnam.
Mint
03-06-2025
- 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.
