The shares of this leading solar stock surged over 4 percent after the company announced that it had bagged an order worth Rs 346 crore. In this article, we will dive deeper into the details of the order.
With a market capitalization of Rs 10,868 crores, the shares of Waaree Renewables Technologies Ltd are currently trading at Rs 1,043 per share, down by 58.60 percent from its 52-week high of Rs 2,512.65 per share. Over the last one month, the stock has delivered a return of 4.65 percent.
Waaree Renewable Technologies Ltd has received a Letter of Award from Purvah Green Power Pvt. Ltd., a subsidiary of CESC Ltd., for the implementation of a large-scale solar power project in Bikaner, Rajasthan.
The project involves setting up a 300 MW AC / 435 MW DC ground-mounted solar power generating station and covers the entire EPC scope, including design, development, supply, installation, testing, and commissioning, for Rs. 346.33 crore and the work is scheduled to be completed during the FY 2025-26.
Financial Highlights
The company reported a revenue of Rs 1,598 crores in FY25, up by 82.42 percent from its FY24 revenue of Rs 876 crores. Coming to its profitability, it reported a net profit growth of 54.72 percent to Rs 229 crores in FY25 from Rs 148 crores in FY24.
The stock has delivered an ROE and ROCE of 64.95 percent and 84.91 percent respectively, and is currently trading at a P/E of 46.62x as compared to its industry average of 37.99x.
Waaree Renewable Technologies Limited is an EPC company in the renewable energy sector. The Company provides solar project development, financing, construction, and operation expertise. Waaree Renewable Technologies operates rooftop, floating, and ground-mounted clean energy systems under both capex and RESCO models.
Written by Satyajeet Mukherjee
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