4 days ago
Waaree Renewable Technologies jumps nearly 30% in 3 days ahead of Q1 results
Shares of Waaree Renewable Technologies extended their winning streak on Thursday, July 17, surging over 5 percent in intraday trade to hit a high of ₹ 1,265.80 as investors geared up for the company's June quarter results scheduled later today.
The stock has now gained in three straight sessions, rallying 5 percent and 17.5 percent in the last two days before Thursday's spike. Overall, Waaree Renewable has jumped 29.7 percent during this three-day rally, reclaiming the ₹ 1,200 mark for the first time in months.
Despite the recent rebound, the stock remains nearly 39 percent below its 52-week high of ₹ 2,074.95, touched in September 2024. It had also slipped to a 52-week low of ₹ 732.05 in April 2025. The ongoing recovery has been particularly sharp in July, with the stock already up 23 percent this month, offsetting a 5 percent drop in June and building on a 10 percent rise seen in May.
Notably, Waaree Renewable Technologies was listed in October 2023 at an issue price of ₹ 1,503. Even with the recent gains, the stock continues to trade below its listing price.
Investor interest has picked up ahead of the company's financial results for the quarter ended June 2025 (Q1FY26). In an exchange filing made post-market hours on Monday, the company informed that its board will meet on Thursday, July 17, to consider the unaudited standalone and consolidated financial results.
The results come at a time when broader market sentiment toward renewable energy stocks has turned positive, backed by strong execution and sector tailwinds.
In the previous quarter (Q4FY25), Waaree Renewable Technologies posted a robust 83 percent year-on-year jump in consolidated net profit to ₹ 93.76 crore, compared to ₹ 51.31 crore in the corresponding period of the previous year. This performance was driven by a 74 percent rise in total revenue, which rose to ₹ 476.57 crore from ₹ 273.31 crore a year earlier.
The company's core EPC (engineering, procurement, and construction) business led the growth, contributing ₹ 469.72 crore in Q4FY25, a 76 percent increase from the year-ago period. However, revenue from power sales remained flat, coming in at ₹ 6.85 crore versus ₹ 6.86 crore in Q4FY24.
According to Kotak Institutional Equities, FY2025 has been a record year for solar energy with 23.8 GW of new capacity added. The brokerage noted that solar manufacturing capacity is also expanding rapidly, with 91 GW of ALMM-compliant modules and 27 GW of solar cells available. Kotak expects the sector to reach supply-demand equilibrium by the second half of FY2027.
However, the US solar module demand remains under watch due to ongoing changes in import regulations and trade policies.
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