Green Energy stock engaged in the business of generation of power through renewable energy sources and providing consultancy services related to it, jumped 4 percent in the day’s trade upon receiving a solar power project worth Rs. 65.22 Crores.
With a market capitalization of Rs. 24,360 Crores, the shares of Waaree Renewable Technologies Limited were trading at Rs. 2,338, up 2.31 percent from its previous day’s close price of Rs. 2,285.30.
Waaree Renewable Technologies Limited has received a new work order for a consideration of Rs. 65.22 Crores from a leading steel manufacturing company for the execution of Engineering, Procurement, and Construction (EPC) works for a solar power project of 26.4 MW DC capacity.
Waaree Renewable Technologies Limited is engaged in the business of generating power through renewable energy sources and providing consultancy services related to it. It has an unexecuted order book of 2,365 MWp.
The solutions provided by the company include rooftop solar, floating solar, ground-mounted solar, off-grid Inverters, Energy Storage Solutions, Solar Products, Lithium-Ion Batteries, Water Pump & Streetlights, EPC Services, and many more.
It has a strong customer base that includes well-known players like Reliance Industries, BPCL, Adani, Mondelez, Aditya Birla, Larsen & Toubro, NTPC, Jindal Power and many more.
Its Revenue from operations grew by 150 percent from Rs. 351 Crores in FY23 to Rs. 876 Crores in FY24, accompanied by profits of Rs. 55 Crores to Rs. 148 Crores. It has reported a Net Profit Margin of 19.83 percent.
It has reported a return on equity (ROE) of 93.3 percent, a return on capital employed (ROCE) of 103 percent, and a debt-to-equity ratio of 0.18.
Written by: Bharath K.S
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