Waaree Renewables Technologies Ltd Share Price – BSE

Power Infrastructure, Small Cap

The Board of Waaree Renewables Technologies at its meeting held on 19 December 2024 has approved the listing of its equity shares on National Stock Exchange of India (NSE) subject to regulatory approvals.

Powered by Capital Market - Live News

The order was received on 27 November 2024. It was awarded by a domestic company involved in renewable energy development. The order includes a Term Sheet for the execution of engineering, procurement, and construction (EPC) works for ground mount solar PV project with a capacity of 2012.47 MWp DC capacity.

The contract value stood at Rs 1,233.47 crore and the project timeline to be mutually decided. The company clarified that neither the promoter group nor any affiliated companies have any interest in the awarding entity, and the order does not involve related party transactions.

Waaree Renewable Technologies, a subsidiary of Waaree Group, is a leading solar EPC company based in Mumbai. In addition to EPC services, they also develop, finance, construct, own, and operate solar projects, focusing on commercial and industrial customers.

On a consolidated basis, net profit of Waaree Renewable Technologies surged 160.52% to Rs 53.52 crore on 250% increase in net sales to Rs 524.47 crore in Q2 September 2024 over Q2 September 2023.

Powered by Capital Market - Live News

On a consolidated basis, net profit of Waaree Renewable Technologies surged 160.52% to Rs 53.52 crore on 250% increase in net sales to Rs 524.47 crore in Q2 September 2024 over Q2 September 2023.

Profit before tax stood at Rs 69.30 crore in the Q2FY25, up 151.55% YoY and up 76.45% QoQ. EBITDA was at Rs 71.57 crore in the Q2FY25, up 133.27% YoY and up 74.22% QoQ. EBITDA margin stood at 13.65% in Q2FY25, lower than 17.38% in Q1FY25 and 20.44% in Q2Y24.

Total expenses rose 271.3% to Rs 452.90 crore in Q2 FY25 over Q2 FY24. During the quarter, cost of EPC contract stood at Rs 442.47 crore (up 287.62% YoY) while employee benefits expense was at Rs 7.54 crore (up 72.54% YoY).

Net cash flow from operating activities improved to Rs 84.90 crore in Q2FY25 from a cash flow of Rs 53.38 crore in Q2FY24.

The company's unexecuted order book stands at 1.7 GWp to be executed between 09-12 months. Bidding pipeline remains robust at 17.8 GWp.

Waaree Renewable Technologies, a subsidiary of Waaree Group, is a leading solar EPC company based in Mumbai. In addition to EPC services, they also develop, finance, construct, own, and operate solar projects, focusing on commercial and industrial customers.

Powered by Capital Market - Live News

Net profit of Waaree Renewables Technologies rose 192.25% to Rs 53.54 crore in the quarter ended September 2024 as against Rs 18.32 crore during the previous quarter ended September 2023. Sales rose 249.51% to Rs 524.47 crore in the quarter ended September 2024 as against Rs 150.06 crore during the previous quarter ended September 2023.

Powered by Capital Market - Live News