Rs 224 Crore Order Book: Solar EPC Stock Locked in 5% Upper Circuit as Order Book Surpasses FY26 Revenue; Check Details

On Thursday, Indian equity benchmarks traded higher in early trade, with the benchmark Nifty 50 index rising 66.45 points or 0.28 per cent to 24,144.95. Meanwhile, GRE Renew Enertech share price was locked in the 5 per cent upper circuit at Rs 152.25, up Rs 7.25 during the trading session, after the company announced key business updates, including a significant increase in its EPC order book and operational milestones.

Trading activity remained robust, with volume reaching 6.12 lakh shares, compared with the 30-day average trading volume of 35.16 thousand shares.

Active Order Book Reaches Rs 224 Crore

GRE Renew Enertech reported that its active consolidated EPC order book stood at approximately 75 MWp, with an aggregate value of around Rs 224 crore at the end of the first quarter of FY27. Notably, the order book value is higher than the company's entire FY26 consolidated revenue from operations of Rs 122.9 crore, reflecting its transition towards larger utility-scale renewable energy projects.

The order book was supported by a Rs 175 crore turnkey solar EPC contract secured from Solarium Green Energy Limited for the development of a 50 MW AC / 65 MW DC utility-scale ground-mounted solar photovoltaic project in Maharashtra. During the quarter, the company also secured an additional Rs 17.75 crore solar EPC contract, taking the cumulative EPC pipeline to approximately 75 MWp worth Rs 224 crore.
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Solar Portfolio Crosses 100 MWp Solar Installation Milestone

The company also announced that it has crossed 100 MWp of cumulative solar installations as of June 2026. During the quarter, GRE successfully commissioned a 7.20 MW (AC) / 9.678 MW (DC) ground-mounted solar power plant under the RESCO (OPEX) model, which was one of the key objectives outlined during its IPO completed earlier this year.

FY26 Financial Performance

On a consolidated basis, GRE Renew Enertech reported a profit after tax of Rs 13.6 crore for the financial year ended March 31, 2026, representing a three-year CAGR of 147 per cent. The company reported consolidated revenue from operations of Rs 122.9 crore during FY26.

Management Commentary

Commenting on the developments, Kamlesh Patel, Managing Director, GRE Renew Enertech Limited, said: "Our recent order wins and business acceleration represent an important milestone in our journey as we push towards strengthening our presence in the utility-scale solar segment. The fact that our active order book value has outpaced our entire previous year's consolidated revenues reflects the trust our customers place in GRE's execution capabilities. As India's renewable energy sector continues to witness strong momentum, we remain focused on building reliable clean energy infrastructure and driving sustained business growth for our stakeholders."

About GRE Renew Enertech

GRE Renew Enertech Limited is a renewable energy solutions provider engaged in the development and execution of solar power projects across commercial, industrial and institutional applications. The company operates through both EPC (CAPEX) and RESCO (OPEX) business models, generating revenue from project execution, operation and maintenance services, and long-term power purchase agreements.

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Disclaimer: The article is for informational purposes only and not investment advice.