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Waaree Energies bags 500 MW solar module supply order from IPPThe order is a one-time contract for the financial year 2026-27. The company will supply the entire 500 MW of solar modules within the period specified under the contract. Shares of Waaree Energies Ltd ended at ₹2,917.10, up by ₹22.45, or 0.78%, on the BSE today, February 23.By Jomy Jos Pullokaran  February 23, 2026, 7:13:28 PM IST (Published)2 Min ReadSolar panel maker Waaree Energies Ltd on Monday (February 23) announced that it has received an order to supply 500MW of solar modules from a renowned domestic solar power developer and independent power producer (IPP).

"This is to inform you that Waaree Energies Limited (“the Company”) has received an order on February 23, 2026, for the supply of 500MW solar modules from a renowned customer who is a solar power developer and engaged in the business of an Independent Power Producer," according to a stock exchange filing.

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The order is a one-time contract for the financial year 2026-27. The company will supply the entire 500 MW of solar modules within the period specified under the contract. The order has been awarded by a domestic entity.

Third quarter results

Waaree Energies' net profit rose 26% quarter-on-quarter to ₹1,062 crore from ₹842 crore in Q2. Revenue for the quarter increased 24.7% sequentially to ₹7,656 crore from ₹6,065 crore.

EBITDA for Q3 rose 37.2% sequentially to ₹1,928 crore, up from ₹1,405 crore in Q2. The EBITDA margin improved to 25.5% from 23.2% in the previous quarter, reflecting higher operating leverage.

Also Read: Waaree Energies shares fall 4% despite US arm securing 288 MW module supply deal

Factoring in the new labour codes, Waaree Energies recognised a one-time provision of ₹7.14 crore. This included employee benefits expense for the quarter and nine months ended December 31, 2025.

The company said the government is in the process of notifying the related rules, and the impact will be evaluated and accounted for in accordance with applicable accounting standards when notified.

Headquartered in Mumbai, Waaree Energies is a global energy transition company that specialises in solar energy solutions with a strong presence in over 20 countries.

Shares of Waaree Energies Ltd ended at ₹2,917.10, up by ₹22.45, or 0.78%, on the BSE today, February 23.

Also Read: Waaree Energies shares jump 12% after strong commentary on EBITDA guidance

Continue Reading(Edited by : Shoma Bhattacharjee)Tagsshare market todayWaaree Energies