Rs 50,000 crore order book: Solar company signs MoU with an International Company for development of 100 MWp EPC project on turnkey basis
The stock gave multibagger returns of 360 per cent in just 2 years, 1,560 per cent in 3 years and a whopping 50,000 per cent in 5 years.
Waaree Renewable Technologies Limited (WAAREERTL) has signed a non-binding Memorandum of Understanding (MoU) with Viet Khanh Joint Stock Company, an international entity, for the Engineering, Procurement, and Construction (EPC) work of a 100 MWp ground-mount solar power project on a turnkey basis. While the exact order value and execution timeline are yet to be mutually decided and will be finalised upon the signing of a definitive agreement, this MoU signifies a significant international collaboration for WAAREERTL in the renewable energy sector.
Earlier, the company had received a revised scope of work for an existing domestic Engineering, Procurement and Construction (EPC) contract for a Ground mount Solar PV project. The capacity of the project remains at 2012.47 MWp, but the commercial order value has been enhanced by Rs 246.92 crore, bringing the total to Rs 1,480.40 crore. All other terms and conditions of the original contract remain unchanged and the time period for execution is to be mutually decided.
Waaree Renewable Technologies Ltd (WRTL), established in 1999, is a subsidiary of the Waaree Group, a prominent renewable energy company. WRTL specializes in generating power from renewable sources and offering related consultancy services, spearheading the Solar EPC (Engineering, Procurement and Construction) business within the group. The broader Waaree Group is a vertically integrated new energy company, boasting India's largest solar panel manufacturing capacity of 12 GW across its facilities in Chikhli, Surat and Umbergaon, Gujarat, serving individual, industrial and commercial clients.
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The company has a market cap of over Rs 10,000 crore and has delivered good profit growth of 274 per cent CAGR over the last 5 years. The company’s order book as of March 31, 2025, stands at Rs 26.50 GW or Rs 50,000 crore. The shares of the company have an ROE of 65 per cent and an ROCE of 85 per cent. The stock gave multibagger returns of 360 per cent in just 2 years, 1,560 per cent in 3 years and a whopping 50,000 per cent in 5 years.
Disclaimer: The article is for informational purposes only and not investment advice.