Rs 47,000 Crore Order Book: This Solar Energy Company Secures USD 176 Million U.S. Solar Module Order From US Customer
On year to date basis the stock is up by 5 per cent while in a year it is up by 29 per cent.
Waaree Energies Limited, a leading Indian solar module manufacturer, has announced a significant international breakthrough through its wholly-owned subsidiary, Waaree Solar Americas. The subsidiary has secured an order for the supply of 586 MW of solar modules, valued at 176 million USD, from a reputed developer and owner-operator of utility-scale solar and energy storage projects in the United States. Deliveries for this large-scale contract are scheduled to begin in the financial year 2026-27. This deal marks a major step in Waaree Energies’ strategic expansion into the global solar market, further energising investor interest in the renewable energy sector.
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Established in December 1990, Waaree Energies is recognised as a major player in the Indian solar industry. The company currently operates five manufacturing plants across India, with an installed production capacity of 12 GW. Plans are underway to increase this capacity to 20.9 GW by 2027, reflecting its aggressive growth strategy. Waaree holds approximately 21 per cent of the domestic solar module market and commands a 44 per cent share in exports. Its product portfolio includes advanced technologies such as Tunnel Oxide Passivated Contact (TOPCon) modules, which enhance efficiency and performance. The company also trades in solar components like inverters and batteries, contributing to its diversified revenue streams.
A significant portion of Waaree Energies’ revenue—about 78 per cent—comes from solar PV modules, with export sales to the United States playing a crucial role. To reduce dependence on imported solar cells, Waaree is investing in backwards integration with a new manufacturing facility in Odisha, expected to start operations by FY27. Additionally, it is setting up a solar module manufacturing plant in Houston, Texas, to better serve the growing U.S. market.
On the stock market front, Waaree Energies is currently a Large-Cap company with a market capitalisation of Rs 80,353 crore. As of May 30, 2025, its stock trades at Rs 3,030.90, within a 52-week range of Rs 2,091.95 to Rs 3,633.65. The company carries a Price-Earnings (PE) ratio of 69.96, reflecting high growth expectations from investors. Prominent public shareholders include Kalpraj Damji Dharamshi (2.32 per cent), Vt Energy Srl (2.17 per cent), Het Paresh Mehta (1.22 per cent), and Madhuri Madhusudan Kela (1.16 per cent). On year to date basis the stock is up by 5 per cent while in a year it is up by 29 per cent.
This international order and ongoing capacity expansion underscore Waaree Energies' commitment to becoming a key player in the global renewable energy market. Investors watching the solar sector may find this development significant as it could contribute to future Quarterly Results and potentially impact dividend policies or bonus issues in the years ahead.
Disclaimer: The article is for informational purposes only and not investment advice.