GRE Renew Enertech scoops up ₹23.99 cr in three solar EPC contracts
The orders push the order book to ₹248 cr, but compete for attention with a ₹175 cr order from just two weeks ago.
— 3 earlier stories on GRE Renew Enertech Ltd. →What's new
- Won three turnkey EPC contracts worth ₹23.99 cr aggregate from Dain Colour Chem and Navsurya Renewable.
- Contracts cover ground-mounted single-axis tracker solar plants of 0.7728 MWp, 2.91648 MWp, and 2.49988 MWp capacities.
- Order book climbs to ₹248 cr from ₹224 cr; execution timelines of 6-12 months.
Why this matters
For a nano-cap with ₹79 cr quarterly sales, ₹24 cr in new business is material — over 20% of last year's standalone revenue. But the spotlight remains on the ₹175 cr order landed two weeks ago, which alone exceeds the company's market cap. This smaller win adds near-term visibility but doesn't change the narrative.
What we're watching
- Whether the ₹175 cr order from June 30 progresses to execution.
- Order book conversion rate over the next two quarters.
- Any further updates on the 9.67 MW Gujarat projects from June.
The full read
GRE Renew Enertech has added ₹23.99 crore in turnkey EPC work from three ground-mounted solar plants. The contracts, from Dain Colour Chem and Navsurya Renewable, cover capacities of 0.7728 MWp, 2.91648 MWp, and 2.49988 MWp respectively, with 6-12 month execution timelines. For a company with a ₹218 crore market cap and quarterly sales of ₹79 crore, this is a meaningful chunk: roughly 11% of market cap and over 20% of FY26 revenue. The order book now reads ₹248 crore, up from ₹224 crore. Yet this win lands in the shadow of the ₹175 crore job announced two weeks ago, which remains the defining event. Taken together, the three orders in July signal consistent deal flow from a tiny EPC player. The next test is execution. Turning these contracts into revenue.
Questions answered
- How significant is this ₹23.99 cr order for GRE Renew?
- It represents about 11% of the company's ₹218 cr market cap and over 20% of last year's standalone revenue, making it material for a nano-cap. The order book now stands at ₹248 cr.
- Who awarded the contracts?
- The three contracts came from Dain Colour Chem Ltd and Navsurya Renewable Energy Private Limited, both unrelated parties with no promoter interest.
- How does this order compare to GRE Renew's prior wins?
- It is smaller than the ₹175 cr contract from June 30 but similar in scale to the ₹17.75 cr order won on July 2. The aggregate order book has grown from ₹224 cr to ₹248 cr in a fortnight.
- What is the execution timeline?
- The projects are scheduled for completion within six to twelve months, offering near-term revenue visibility.
GRE Renew Enertech Ltd.
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All notes on GRERENEW →- 16 Jul 2026 · 10:05 PM IST GRE Renew Enertech scoops up ₹23.99 cr in three solar EPC contracts
- 14d ago GRE Renew grabs ₹17.75 cr solar EPC order, 15% of FY26 revenue
- 16d ago GRE Renew lands ₹175 cr solar EPC order, 70%+ of its market cap
- 43d ago GRE Renew flips on 9.67 MW Gujarat solar projects funded by its IPO.