Waaree Renewable Shares are Concentrating on Securing a Rs 262 crore Solar Power Project on Etmarkets
Following Waaree Renewable Technologies’ acquisition of a solar power project valued at Rs 262 crore from Waaree Energies, the company’s shares surged 5.5% in early trading to reach an intraday high of Rs 973.10 on the BSE on Wednesday, March 26.
The company said in a press release on Tuesday that it was happy to announce that “WAAREERTL” had been awarded a Letter of Award (LOA) to carry out Engineering, Procurement, and Construction (EPC) work for a ground mount solar power project, including (O&M) of 170 MW AC/255 MW DC capacity on a turnkey basis.
According to the order terms, the project is expected to be finished in the fiscal year 2025–2026. The company’s stock dropped 37.26% during the previous year and underperformed its industry by 37.94%. In contrast, the stock has provided staggering returns of 1,474% and 44,231% during the past three and five years. Waaree Renewable had worse one-year returns than the Sensex, Nifty50, Industry, and Sector, according to Trendlyne statistics.
Compared to the previos quarter’s income of Rs 527.87 crore, the company’s consolidated total income for the quarter ending December 31, 2024, was Rs 364.13 crore, a 31.02% decrease. But compared to the previous quarter, when total revenue was Rs 324.68 crore, it grew 12.15%. For the most recent quarter, the firm achieved a net profit after tax of Rs 53.48 crore.
Established in 1999, Waaree Renewable Technologies Ltd. is a smallcap firm with a Rs 9,612.58 crore market valuation. The firm provides Engineering, Procurement, and Construction (EPC) services in power generation using renewable energy sources. Its energy-producing facility is in Maharashtra, while its registered office is in Mumbai.
