waari renewable share
There was a tremendous rise of more than 13 percent in the shares of Waaree Renewable on Monday. The record increase in sales and profits of the company in the recent quarter is a big reason behind this rise. This company not only showed a tremendous jump in sales in the financial results of the September quarter, but also strengthened the confidence of investors by increasing the profit by more than double. After the quarterly results, the company’s shares rose 13.5% to the day’s high of Rs 1287.70 on Monday.
PAT increased by 117% in September quarter
Profit after tax (PAT) increased by about 117% and crossed Rs 116 crore, which was only Rs 53 crore in the same quarter last year. Also, the company’s sales i.e. revenue increased by 47.7 percent to about Rs 775 crore.
Talking about profit, EBITDA i.e. earnings before interest and taxes has reached Rs 158 crore, which shows an increase of 121 percent on an annual basis. EBITDA margin has also increased from 13.65 percent to 20.39 percent, which means the company has earned more profit while controlling its expenses.
Approval received for big projects
The company has got capital expenditure approval from its board for setting up solar power plants totaling 28 MW at two places in Maharashtra. Apart from this, approval has also been given to build a new solar plant with 37.5 MW capacity in Bikaner, Rajasthan. It is believed that these new projects will further strengthen the expansion and development of the company.
Growing market demand and future plans
Company’s CFO Manmohan Sharma said that renewable energy is expanding very rapidly in India. The country’s total installed renewable energy capacity will reach 256 GW by September 2025, which will be a major milestone for India’s clean energy goals. This capacity is expected to reach 500 gigawatts by 2030.
Solar energy, which accounts for almost half of the country’s renewable energy, is playing a key role in India’s energy transition. The company’s strong solar EPC (Engineering, Procurement, and Construction) services are further accelerating this transformation.
Strong order book and preparations for expansion
Waari Renewable currently has 3.48 GW of outstanding work in its order book, which will be completed in the next 12-15 months. Also, the company has more than 27 GW in the bidding process, which is indicative of its upcoming growth. The company not only builds solar power plants, but is also building substations and transmission lines, which will increase energy supply and reliability.