Waaree Renewable Wins ₹346 Crore Solar EPC Order from CESC

3 Jun 2025 , 12:12 PM

Shares of Waaree Renewable Technologies Ltd. rose up to 4.5% on June 3, following a significant project win announcement.

300 MW Solar Project Awarded by CESC

Waaree Renewable Technologies received a Letter of Award (LoA) from CESC for developing a large-scale solar power project. The project involves 300 MW (AC) / 435 MW (DC) capacity.

The total contract value is pegged at ₹346.33 crore. It is an EPC (Engineering, Procurement, and Construction) contract, under which Waaree will handle end-to-end development. The ground-mounted solar project is scheduled to be completed within FY26.

Q4 FY25 Financial Performance

Revenue Growth: Total revenue for Q4 surged 74% YoY, reaching ₹476 crore, compared to ₹273 crore in Q4 FY24.

Profitability: Net profit rose sharply by 83% YoY to ₹94 crore, up from ₹51 crore in the same period last year.

EBITDA grew by 62.8%, standing at ₹122.4 crore in Q4. However, EBITDA margin declined slightly to 25.7%, from 27.5% a year ago, indicating marginal pressure on operating margins.

Waaree Energies: Founded in 1990, Mumbai-based Waaree Energies Ltd. is the country’s largest solar module manufacturer. As of June 30, 2024, the manufacturing capacity in total reached 13.3 GW. The company operates its factories in Chikhli, Surat, Tumb and Nandigram in the state of Gujarat and in Noida.

Waaree Renewables share price has gained 21% in the last year and in the YTD, and 4.71% in the last month.

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