Waaree Energies shares were trading at ₹2,835 on BSE, up 0.17% following the announcement of fresh order wins. The stock had previously declined 2.2% to ₹2,818 on Tuesday, July 14, following UBS's downgrade announcement. The stock has corrected over 7% in the past month and fallen over 11% in the past 12 months, though it has remained positive over a longer horizon, gaining over 10% in the last six months. According to Business Standard, the stock recovered marginally on Wednesday following the Tuesday decline. Waaree Energies has declined 4.21% year-to-date but underperformed the benchmark Nifty 50, which has declined 4.51% during the same period.
Waaree Energies has secured an additional 212 MW solar module supply contract from an international customer that owns and manages utility-scale renewable power projects. As per the latest regulatory filing on Friday, July 17, this latest order is incremental to an existing 350 MW contract from the same customer, taking the total order capacity to 562 MW. The order is scheduled to be executed during FY2026-27 and represents a one-time order from an international entity that is not related to the promoter group and does not fall under related-party transactions. This contract adds to the significant 236.22 MW utility-scale solar module supply contract secured by Waaree Solar Americas on June 30, 2026, for a major solar project in Flemingsburg, Kentucky. The company clarified that neither its promoters nor members of the promoter group have any interest in the award of the contract.
Waaree Energies delivered exceptional financial results for Q4 FY26, with consolidated net profit surging 71.4% year-on-year to ₹1,061.10 crore compared with ₹618.91 crore in the same quarter last year. Revenue from operations demonstrated robust growth, surging 111.8% YoY to ₹8,480.25 crore for the quarter ended March 31, 2026. The Mumbai-based renewable energy company, which offers innovative solar solutions including panel manufacturing, EPC services, project development, and rooftop systems, continues to strengthen its market position through strategic order wins and operational excellence.
UBS has downgraded Waaree Energies Ltd. from 'Buy' to 'Neutral' and slashed its price target by 30% to ₹3,100 from ₹4,400 earlier. According to Business Standard, the revised target still suggests a potential upside of 7% from the stock's closing price on Monday, July 12. The brokerage reduced its valuation multiple to 21x 12-month forward price-to-earnings (P/E) from 28x, citing a higher discount to industry peers and expectations of lower margins. As per Business Standard, the downgrade stems from growing near- and medium-term challenges in the solar industry, with the sector entering a consolidation phase. UBS noted that its revised target price reflects a more balanced risk-reward profile amid persistent challenges facing India's solar manufacturing sector, though it highlighted its preference for peer Premier Energies, citing stronger execution track record and judicious expansion plans.
Waaree Energies' subsidiary, Waaree Energy Storage Solutions Pvt Ltd (Waaree ESS), has successfully commissioned its BESS container manufacturing facility following significant upgrades. The facility's capacity was upgraded from the originally planned 3.5 GWh following production debottlenecking and improvements in battery cell energy density. According to the company, the plant is equipped with Industry 4.0 technologies, including Automated Guided Vehicles (AGVs), intelligent material handling systems, automated assembly lines, and advanced testing and quality assurance systems. Designed for utility-scale as well as commercial and industrial applications, the facility will manufacture Battery Energy Storage System (BESS) containers aimed at delivering scalable energy storage solutions, positioning the company to capitalize on the growing energy storage market.
