Waaree Renewable Technologies shares surge 13% to hit fresh 52-week high due to strong Q2 performance
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Shares of Waaree Renewable Technologies soared 13% intraday, to record a new 52-week high of ₹1,287 today. The surge was on the back of a strong Q2 performance that the company posted in an exchange filing.
The company recorded a growth of 47.73% YoY in terms of revenue, which was ₹774.78 crore, as compared to ₹524.47 crore in Q2FY25. EBITDA soared 120.69% YoY, from ₹71.57 crore to ₹157.94 crore. Profit after tax or PAT doubled, at ₹116.34 crore for the passing quarter, as compared to ₹53.52 crore in Q2FY25.
The EPC arm of the Waaree Group also posted its half-yearly results, with revenue rising by 81.12% YoY, to ₹1,377.97 crore, as compared to ₹760.82 crore in H1FY25. EBITDA for H1FY26 stood at ₹275.48 crore as compared to ₹112.65 crore in H1FY25, an increase of 144.56% YoY. PAT stood at ₹202.73 crore as compared to ₹81.68 crore, rising by 148.21% YoY.
In terms of the order book, the unexecuted order book stands at 3.48 GWp to be executed between 12 to 15 months, while the bidding pipeline remains robust at 27+ GWp. The company has also secured two orders—1,218 MWp and 29.4 MWp ground-mounted solar power projects.
The company’s board has decided on the capex budget for setting up 28 MWp IPP Solar Power Plants of 14 MWp each at 2 locations in Maharashtra, and also setting up of 37.5 MWp IPP Solar Power Plant at Bikaner, Rajasthan.
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“India’s renewable energy momentum continues to build, with total installed capacity reaching 256.1 GW as of September 2025, marking a significant milestone in its clean energy transition, reaching halfway to the 500 GW target of 2030, and further aligning with India’s long-term net-zero vision. Solar energy accounts for 127.33 GW of the total renewable installed capacity, underscoring its pivotal role in the country’s clean energy transition, driven by robust policy support and ambitious national targets,” said Manmohan Sharma, CFO, Waaree Renewable Technologies Limited.
The shares are currently trading 10.39% above their previous closing, at ₹1,250.90 apiece, with the market capitalisation standing at ₹13,040 crore.
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