The shares of this leading solar EPC company in India hit a 5 percent upper circuit of Rs 3,657.15 apiece after the company received a Letter of Award (LOA) for a Solar power project of 4MWp (DC) / 2.95 MW (AC).
With a market capitalization of Rs 7,617.79 crore, the shares of Waaree Renewables Technologies Ltd were trading at Rs 3,657.15 per share, as compared to the previous closing price of Rs 3,483.00 apiece.
According to the company filing, Waaree Renewables Technologies Ltd has received a Letter of Award (LOA) for the execution of Engineering, Procurement, and Construction (EPC) work for a Solar power project of 4MWp (DC) / 2.95 MW (AC).
Looking into the company’s performance, Waaree Renewables Technologies Ltd’s revenue increased by 337 percent from Rs 74 Crore in Q3FY23 to Rs 324 Crore in Q3FY24. During the same period, net profits increased by 156 percent from Rs 25 crore to Rs 64 crore.
Waaree Energies, a leading Indian solar energy company, manufactures PV modules and has deployed 12 GW by June 30, 2023.
Waaree Renewables Technologies Ltd aims to have 12 GW module capacity and 5.4 GW cell capacity by FY24, with 1.5+ GW of commissioned projects. The company has exported products to over 68 countries and has 1,400+ authorized sale points and franchises in India.
In six months, the stock returned 161.51 percent, and 640.16 percent in a year. A one-year investment of Rs 1 lakh in the firm will be worth Rs 7.40 lakh.
WRTL has 12 years of experience, an order book of over 856 MWp, a strong net worth, and a track record of completing projects on time to generate cash flows quickly and securely.
The organization has successfully completed projects in 13 Indian states with varying temperatures, soil, rain, and aridity, making it a popular solution supplier in India and other nations with comparable climates.
Waaree Renewables Technologies Ltd is in the business of generating power from renewable energy sources and also offers consultation services in this respect. Waaree Energy is a leading vertically integrated new energy company.
Written by:- Abhishek Singh
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