Solar Stock Jumps After Securing a 236 MW Solar Module Supply Order

Synopsis: Waaree Energies announced that its U.S. subsidiary secured a 236.22 MW international solar module supply order for FY2027–28. The deal strengthens the company’s global presence and reinforces its position as a leading supplier in the renewable energy market.

The shares of this company are one of India’s largest solar photovoltaic (PV) module manufacturers and a leading renewable energy company are in the spotlight after it surged by 2 per cent in today’s market session following securing an order for solar modules. 

With a market capitalisation of Rs. 83,965 cr, the shares of Waaree Energies Ltd were trading at Rs. 2919 per share, increasing 2% in today’s market session, making a high of Rs. 2,935, up from its previous close of Rs. 2,886.20 per share. The stock has declined 7% over the past year, is down 1% year-to-date, has slipped 2% over the last six months, and fallen 6% in the past month.

About the order 

Waaree Energies Ltd has announced that its wholly owned subsidiary, Waaree Solar Americas Inc., has secured a significant international order for the supply of 236.22 MW solar modules. The order was received on June 29, 2026, from a renowned customer engaged in developing and managing sustainable infrastructure projects, with a strong focus on renewable energy.

The contract involves a one-time supply of solar modules, which will be executed during Q1 and Q2 of FY2027–28. Although the company has not disclosed the customer’s identity or the commercial value of the order, the project highlights Waaree’s growing presence in the international solar market and reinforces its position as a trusted supplier of high-quality solar modules.

The order has been awarded by an international entity, reflecting Waaree’s expanding global footprint and its ability to secure large-scale overseas contracts. Such international orders are expected to support the company’s export business while contributing to its long-term growth strategy in the renewable energy sector.

About the company 

Waaree Energies Ltd is one of India’s largest solar photovoltaic (PV) module manufacturers and a leading renewable energy company. The company manufactures high-efficiency solar modules and provides end-to-end solar solutions, including EPC services, project development, and energy storage systems.

On the financial front, it reported an impressive performance in Q4FY26. Revenue more than doubled, rising 112% YoY to Rs. 8,480 crore from Rs. 4,004 crore in Q4FY25, while EBITDA increased 71% YoY to Rs. 1,577 crore from Rs. 923 crore. Net profit also grew 75% YoY to Rs. 1,126 crore compared to Rs. 644 crore in the year-ago period, with EPS improving 71% to Rs. 36.89 from Rs. 21.54. 

As of Q4FY26, it has delivered a record financial and operational performance, supported by its leadership in global solar manufacturing capacity. The company currently has an installed module manufacturing capacity of approximately 26 GW, making it the largest non-Chinese solar module manufacturer in the world. It also operates 5.4 GW of solar cell manufacturing capacity, making it India’s largest solar cell manufacturer. 

The company has built a strong growth pipeline with an order book of approximately Rs. 53,000 crore and has planned capital expenditure of around Rs. 30,000 crore across multiple business verticals to support future expansion. Waaree also reported robust profitability, achieving an adjusted Return on Capital Employed (ROCE) of 32.4% and an adjusted Return on Equity (ROE) of 29.0% in FY26. 

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