Solar stock jumps 4% after receiving ₹806 Cr order for battery storage project in Gujarat

Synopsis: Solarworld Energy Solutions surged over 4% after securing a Rs. 806.40 crore order from GUVNL to develop a 200 MW/400 MWh battery energy storage system in Gujarat, boosting its presence in renewable and storage solutions.

This company is a solar energy solutions provider specializing in engineering, procurement, and construction (EPC) services for solar power projects is now in the spotlight after signing of a Battery Energy Storage Purchase Agreement for the development of a 200 MW / 400 MWh Battery Energy Storage System (BESS) in Gujarat.

With market capitalization of Rs. 2,537 cr, the shares of Solarworld Energy Solutions Ltd are currently trading at Rs. 292 per share, increasing more than 4% in today’s market session, making a high of Rs. 298.30, from its previous close of Rs. 285.30 per share.

About the order

Solarworld Energy Solutions Limited, formerly known as Solarworld Energy Solutions Private Limited, has announced the signing of a Battery Energy Storage Purchase Agreement (BESPA) on December 8, 2025, for the development of a 200 MW / 400 MWh Battery Energy Storage System (BESS) in Gujarat. The agreement aligns with the company’s strategy to expand its footprint in renewable energy and battery storage solutions.

The order was awarded by Gujarat Urja Vikas Nigam Limited (GUVNL) and pertains to an “on-demand” usage model under the Tariff-Based Competitive Bidding – Phase VI, as per the Letter of Intent (LOI) dated May 28, 2025. The total order value is approximately INR 806.40 crore (excluding taxes) over a 12-year period.  As on 31st October, 2025, the order book stands at Rs. 3,223.26 cr. 

About the company 

Solarworld Energy Solutions Ltd is an Indian renewable energy company specializing in solar power and energy storage solutions. The firm develops, designs, and implements solar photovoltaic (PV) projects and battery energy storage systems (BESS) for commercial, industrial, and utility-scale clients. With a focus on sustainable energy and cutting-edge technology, Solarworld aims to support India’s transition to clean energy while offering turnkey solutions across Engineering, Procurement, and Construction (EPC) for solar and storage projects.

The company reports a ROCE of 40.4% and ROE of 40.2%, with a low debt-to-equity ratio of 0.27. It also maintains a strong profitability record, delivering a 3-year average ROE of 56.6%.

On a year-on-year (YoY) basis, the company’s sales declined by 3% to Rs. 138 crore from Rs. 142 crore in Q2FY25. EBITDA dropped sharply by 49% to Rs. 15.1 crore, compared to Rs. 29.6 crore a year ago, while net profit fell by 58% to Rs. 9.29 crore from Rs. 22.3 crore. Earnings per share (EPS) decreased by 66% YoY to Rs. 1.07 from Rs. 3.14.

Written by Manideep Appana

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