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Here's why Waaree Renewable share is buzzing in trade today; details
However, by 1:30 PM, Waaree Renewable shares were off day's high, and were trading merely 0.5 per cent higher at ₹1,031.05 per share. In comparison, BSE Sensex was trading 0.88 per cent lower at 80,656.39 levels.
Why did Waaree Renewable share price rise?
Waaree Renewable shares rose after securing a Letter of Award (LOA) worth approximately ₹346.33 crore from a renewable generation company, for the execution of Engineering, Procurement and Construction (EPC) works of a solar power project of 300 MW AC/435 MW DC capacity.
In an exchange filing, Waaree Renewable said, 'We are pleased to inform that Waaree Renewable Technologies has been awarded Letter of Award (LOA) for the execution of Engineering, Procurement and Construction (EPC) works of solar power project of 300 MW AC/435 MW DC capacity.'
Under the terms of the order, Waaree Renewable shall develop the Ground mount solar power project of 300 MW AC /435 MW DC capacity.
Notably, the project is scheduled to be completed in the financial year 2025- 26 (FY26), Waaree Renewable revealed, in a statement.
Waaree Renewable Q4 results
Waaree Renewable's profit zoomed 82.73 per cent year-on-year (Y-o-Y) to ₹93.77 crore in the March quarter of financial year 2025 (Q4FY25), from ₹51.31 crore in the March quarter of financial year 2024 (Q4FY24).
The company's revenue from operations climbed 74.37 per cent Y-o-Y to ₹476.58 crore in Q4FY25, from ₹273.31 crore a year ago.
Earnings before interest, tax, depreciation and amortisation (Ebitda), or operating profit, jumped 67.79 per cent Y-o-Y to ₹126.33 crore, from ₹75.29 crore a year ago.
Operating profit margin or Ebitda margin, however, squeezed to 26.51 per cent in the March quarter of financial year 2025, from 27.55 per cent in the March quarter of financial year 2024.
Its unexecuted order book stood at 3.2 GWp, which is to be executed between 12-15 months. Meanwhile, the Bidding pipeline remains at about 30 GWp.
About Waaree Renewable
Waaree Renewable, a subsidiary of the Waaree Group, is at the forefront of India's Solar EPC (Engineering, Procurement, and Construction) landscape.
Backed by the Group's strong legacy, which includes the successful installation of over 10,000 solar projects with a cumulative capacity exceeding 2.32 GW, Waaree Renewable plays a crucial role in the transition to clean energy. The company not only engineers and builds solar systems but also finances, owns, and operates solar power projects, establishing itself as a full-spectrum solar solutions provider.
Headquartered in Mumbai, the company operates across multiple geographies with a focus on long-term investments, particularly within the commercial and industrial sectors. By offering both on-site solar installations—such as rooftop and ground-mounted systems—and off-site solar farms through open access models, Waaree Renewable enables clients to reduce their carbon footprint effectively.
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