According to the order, Waaree Renewable Technologies will build a 105 MWp ground-mount solar power facility on a turnkey basis.
Waaree Renewable Technologies Shares Rise Over 6%:
Following receiving a letter of intent for a project valued at Rs 277.20 crore, Waaree Renewable Technologies’ stock increased by more than 6% on Monday.
According to the exchange filing, the order from a top wind energy business is expected to be finished in the 2025–2026 fiscal year. The company will build the 105 MWp ground-mount solar power plant on a turnkey basis to the deal’s conditions.
Earlier this month, the Waaree Group’s solar EPC unit recorded a 16.7% increase in net profit to Rs 53.5 crore for the third quarter of the current fiscal year compared to Rs 64.2 crore for the same period last year.
For the three months ending in December, revenue reached Rs 360 crore, an 11% year-over-year growth. Earnings before interest, taxes, depreciation, amortization, or operating income decreased 18% yearly to Rs 72 crore. During the same time last year, the EBITDA margin dropped from 27% to 20%.
Although the company’s revenues increased in the third quarter, its margins were severely strained. Increases in EPC contract costs, employee benefit costs, and other expenses have resulted in higher margins.
Additionally, Waaree Renewable Technologies announced an interim dividend of Rs 1 per equity share, with the record date for determining dividend eligibility being January 24.
Waaree Renewable Technologies’ stock reached its highest level since January 16, with a 6.29% increase to Rs 1,110 per share. At 12:11 p.m., it had reduced gains to trade 4.74% higher at Rs 1,093 apiece. In contrast, the BSE Sensex Index increased by 0.73%.
In the past 12 months, it has increased by 90.87%. The day’s total trading volume was one times the 30-day average. The indicator of relative strength was 38.
