Waaree Renewable surges

Waaree Renewable Technologies shares rallied sharply today, extending recent volatility in the counter, after the company reported a strong March-quarter performance.

On the BSE, the stock traded around Rs.1,173 (up ~11%) after opening at Rs.1,078.25 versus a previous close of Rs.1,059.25, with the day’s range at Rs.1,078.25–1,202.60. The move came on heavy activity, with volumes of about 13.45 lakh shares and turnover of roughly Rs.157 crore at the time of the snapshot, underscoring aggressive risk-on positioning in clean-energy EPC names.

The trigger was a beat on earnings momentum, helped by a sharp jump in revenues. Consolidated net profit for the March quarter rose 66% (YoY) to Rs.156 crore, supported by higher topline. Revenue from operations for the quarter stood at Rs.1,102 crore compared with Rs.476 crore (YoY), signalling a strong ramp-up in execution.

The FY26 numbers reinforce that this was not a one-off quarter: full-year net profit came in at Rs.479 crore versus Rs.228.92 crore in FY25, while revenue from operations nearly doubled to Rs.3,331 crore from Rs.1,598 crore. Management also flagged a robust unexecuted EPC order book of 2.83 GWp, which is crucial because the market is effectively paying up for visibility, i.e., how long the current execution run-rate can be sustained rather than for a single quarter’s print.

The other piece the Street is reacting to is strategy: the board has approved acquisition of a 55% stake in Associated Power Structures for Rs.1,225 crore, positioning it as a step toward building an integrated platform spanning renewables generation, EPC, energy efficiency and enabling infrastructure.

For the stock, the near-term narrative is now clear: results plus order book are driving the rerating, but the next round of scrutiny will be on conversion of that 2.83 GWp pipeline into cash-backed execution without margin slippage or balance-sheet strain.