Synopsis: The shares of this green energy company were in focus today after the company received an order for the supply of 360 MW solar modules from a recognised entity.
This energy stock, which is an Indian manufacturer of solar PV modules with an aggregate installed capacity of 18.7 GW and has five solar module manufacturing facilities in India with an international presence, was in the spotlight following the announcement of the company bagging the solar module order.
With the market cap of Rs 96,586 crore, the shares of Waaree Energies Ltd closed at Rs 3356.70 and gained roughly 1.12 per cent from its previous day’s closing price of Rs 3319.45. The shares were listed roughly a year ago and have given a return of 17 per cent ever since.
About the order.
The company has received an order for the supply of 360 MW solar modules from a renowned customer who is a developer and owner-operator of utility-scale solar and energy storage projects. The party is a domestic entity, and it is a one-time order; the time period for the supply of modules is between FY 25 and 26.
Financials and others.
The revenue from sales is Rs 6,066 crore in Q2 FY26 versus Rs 3,574 crore in Q2 FY25, which is an increase of about 70 per cent on a YoY basis. Similarly, there has been an increase in net profit of 133 percent when we compare the Q2 FY25 profit of Rs 376 crore with the Q2 FY26 profit of Rs 878 crore.
The share is trading at a PE of 35.8, which is less than its median PE of 43.3. Its order book as of Q2 FY26 is at Rs 47,000 crore, out of which 59.5 per cent came from India and the remaining 40.5 per cent came from overseas. Similarly, its ROCE and ROE are 34.9 per cent and 27.4 per cent, respectively.
Waaree Energies continues to strengthen its position in India’s renewable energy landscape with a module capacity of 18.7 GW and cell capacity of 5.4 GW. The company has laid out an ambitious capex plan of over Rs 25,000 crore to drive expansion across its clean energy businesses and boost manufacturing capabilities.
Written by Leon Mendonca.
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