The analyst highlighted its consistent growth, strong order book, and sustained momentum in India’s clean energy push.
Shares of Waaree Renewable Technologies extended their rally, rising 2.5% on Tuesday after the company reported that its consolidated net profit in the September quarter more than doubled to ₹116.34 crore, driven by higher revenues. Over the past five sessions, the stock has gained 20%.
In a filing to BSE, the company said it had reported a consolidated net profit of ₹53.51 crore in the same quarter of the previous year.
Revenue increased by 47.73% year-on-year to ₹774.78 crore. The board described Waaree’s first quarter (Q1) revenue and profit after tax (PAT) as the highest-ever in a quarter, driven by strong execution, sectoral tailwinds and diversification into new energy verticals, including Battery Energy Storage Systems (BESS) and data centres.
The company’s unexecuted order book stood at 3.48 GWp for execution over the next 12–15 months, while the bidding pipeline also remained healthy at over 27 GWp, it said. The board also approved new capex for setting up solar power plants in Maharashtra and Rajasthan.
Fundamental View
SEBI-registered analyst Finkhoz said the company’s fundamentals remain strong.
Finkhoz noted that promoter holding at 74.39% signals confidence, and that Waaree’s growth has been consistent rather than a one-quarter phenomenon, with sales rising tenfold over three years, from ₹162 crore in FY22 to ₹1,598 crore in FY25, and profits climbing from ₹9 crore to ₹229 crore in the same period.
The analyst added that Waaree’s dual presence in EPC and manufacturing gives it a unique edge in India’s renewable energy sector as the country pushes toward 500 GW of capacity by 2030.
Technical Outlook
On the technical front, Finkhoz highlighted that the stock surged 8.5% to ₹1,230, breaking a strong resistance near ₹1,150 and forming an ascending triangle breakout on daily charts with heavy volume.
The next resistance lies in the ₹1,280–₹1,300 zone, while immediate support is around ₹1,150 and then ₹1,060–₹1,080. RSI above 65 indicates positive momentum, though mild profit booking may occur.
Analyst View
Finkhoz concluded that Waaree “isn’t just a one-quarter wonder,” calling it a key beneficiary of India’s clean energy transition with strong order visibility and profit growth.
However, the analyst cautioned that short-term consolidation is natural after the recent rally and suggested that long-term investors consider accumulating on dips.
What Is The Retail Mood?
On Stocktwits, retail sentiment for Waaree was ‘extremely bullish’ amid ‘extremely high’ message volume.
Waaree’s stock has risen 22% so far in 2025.
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