This fast-growing renewable energy company is transforming how India powers its future. With a strong focus on solar EPC projects, it offers innovative solutions like floating solar plants and end-to-end project ownership models.
Backed by in-house financing and operations, it caters to both on-site and open-access solar needs. Its unique business model and clean energy mission make it a standout in the green energy space. In this article, we will discuss more about this company.
Price Movement
With a market capitalization of Rs 9,010 crore, the shares of Waaree Renewable Technologies Ltd was trading at Rs 1,107.35, down 63 percent from its 52-week high of Rs 3,037.75. The stock has given a positive return of 40.42 percent in the last one month.
About the Company
Waaree Renewable Technologies Limited is an India-based EPC company that focuses on the renewable energy sector. It develops, finances, constructs, and operates solar projects, offering clean energy through rooftop and ground-mounted systems, as well as open-access solar farms.
The company provides solutions like rooftop solar, floating solar, and ground-mounted systems under both capex and RESCO models. Its floating solar projects are installed on lakes, ponds, and reservoirs. In the RESCO model, Waaree handles installation, financing, operation, and ownership of rooftop solar systems. It also offers operations and maintenance services.
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Future Prospects
The company plans to execute 500 to 600 MW in the next quarter and aims for an annual execution capacity of 3 to 3.5 GW. The management is optimistic about continued growth in the renewable energy sector with strong support from the government and a significant increase in project tenders.
It also plans to diversify its business into data centres by leveraging synergies with existing EPC solar-generating projects. It is also exploring opportunities in green hydrogen, with a focus on setting up plants that produce hydrogen via renewable energy sources.
The company plans to add 30-40 GW of renewable energy capacity in India in the financial year ending March 2026. Furthermore, the company is also looking to expand its operations outside India, such as the Middle East, Europe, and Africa
Financial and Order Book Highlights
The company reported Q3 FY25 revenue of Rs 360.35 crore, up 11.15 percent from Q3 FY24 revenue of Rs 324.19 crore. However, it reported a 16.74 percent decline in net profit. In Q3 FY25, it reported a net profit of Rs 53.48 crore, compared to Rs 64.23 crore in Q3 FY24.
As of Q3 FY25, the company has an unexecuted order book of 3,398 MWp as compared to 1,702 MWp in Q2FY25, i.e, a significant rise of 99 percent. Out of this, the company has registered an executed order book of 319 MWp in Q3 FY25 as compared to 488 MWp in Q2FY25.
Written by Satyajeet Mukherjee
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