One of the solar stocks specializing in solar energy solutions, including engineering, procurement, and construction (EPC) services. The stock has plunged by 10.55 percent after reporting a 16.74 percent YOY decrease in net profit.
Stock Price Movement
In Thursday’s trading session, Waaree Renewables Technologies Limited’s share plunged to an intraday low of 10.55 percent from the previous close of Rs. 1145.95. The stock opened at Rs. 1,190 and is currently trading at Rs. 1,076.75, with a high of Rs. 1,233 and a low of Rs. 1,025. The market capitalization now stands at approximately Rs. 11,174.75 crore.
Q3 FY25 Result Walkthrough
Coming into the quarterly results of Waaree Renewables Technologies Limited, the company’s consolidated revenue from operations increased by 11.15 percent YOY from Rs. 324.19 crore in Q3 FY24 to Rs. 360.35 crore in Q3 FY25 and dropped by 30.27 percent QoQ from Rs. 524.47 crore in Q2 FY25.
Further, the company’s EBITDA has decreased by 18.1 percent, from Rs. 87.81 crore in Q3 FY24 to Rs. 71.92 crore in Q3 FY25. The PAT margin has also decreased from 19.81 percent in Q3 FY24 to 14.84 percent in Q3 FY25.
In Q3 FY25, Waaree Renewables Technologies Limited’s consolidated net profit decreased by 16.74 percent YOY, reaching Rs. 53.48 crore compared to Rs. 64.23 crore during the same period last year. As compared to Q2 FY25, the net profit has also decreased by slightly from Rs. 53.52 crore.
The basic earnings per share decreased by 20.23 percent and stood at Rs 5.14 as against Rs 60.18 recorded in the same quarter in the previous year 2024.
Dividend
Waaree Renewables Technologies Limited has decided to pay the interim dividend at the rate of 50 percent on the face value of paid-up equity shares of Rs. 2 each for the financial year 2024-25, which is a dividend of Re. 1 per equity share. The record date of the dividend shall be 25th January 2024.
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Order book position in Q3 FY25
Waaree Renewables Technologies Limited has an unexecuted order book of 3.4 GWp, expected to be completed within 9–15 months. The company’s bidding pipeline remains strong, with 23.37 GWp in potential projects, indicating continued growth in the renewable energy sector.
Key updates in Q3 FY25
The company plans to expand into the EPC sector for the data center industry in India and globally. The company recently secured significant orders, including a 2012.47 MWp ground-mounted solar PV project and the development of a 41.6 MWp Independent Power Producer (IPP) plant.
Client Base
The company serves a diverse range of prominent clients, including ArcelorMittal, L&T, Reliance Industries, Aditya Birla Group, NTPC, Adani, PTC Group, Mondelez, Bharat Petroleum, Acciona, and others in various sectors.
Business Operation
Waaree Renewables Technologies Limited has commissioned 1.82 GW of projects and produced 11.6 GW of solar modules. The company aims to achieve 13.3 GW in module and 5.4 GW in cell production capacity in FY25. The company operates globally, serving 26 countries with a workforce of 9,300 and 372 franchises in India.
Written By – Nikhil Naik
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