Latest news with #WaareeGroup
Mint
18-07-2025
- Business
- Mint
Waaree Renewable Tech share price spikes another 5% after Q1 net profit surges 3-fold
Waaree Renewable Technologies, the solar EPC subsidiary of Waaree Group, saw its shares jump another 5% intraday on Friday, July 18, to reach 1,240 ₹ apiece, which came in response to the company's healthy performance in the June quarter. The company, on Thursday, reported a net profit of ₹ 86 crore in Q1FY26, a 207% increase compared to ₹ 28 crore in the same period last year, while the revenue from operations came in at ₹ in at ₹ 603 crore, compared to ₹ 236.35 crore in Q1 FY25, which is a 155% YoY growth. Looking at the segment wise performance, its revenue from its EPC contracts, which contributes over 95% of the company's total revenue, surged to ₹ 594.3 crore in Q1 FY25 from ₹ 228 crore in the same period last year, while power sales revenue also rose sharply to ₹ 9 crore, compared to ₹ 2.3 crore a year ago, as per the company's earnings' filing. On the operating front, the company reported EBITDA of ₹ 117.54 crore for the quarter, marking a significant jump from ₹ 41 crore in Q1 FY25. EBITDA margin expanded to 19.5% from 17.4%, reflecting improved operating efficiency. The company's unexecuted order book at the end of the quarter stood at 3.15 GWp, which it expects to execute over the next 12–15 months. The bidding pipeline remains robust at over 25 GWp. In terms of recent wins, the company secured a 435 MWp ground-mounted solar power project and a 131.6 MWp ground-mounted solar power project, both awarded in the first quarter of FY26. Commenting on the results, Mr. Manmohan Sharma, CFO, Waaree Renewable Technologies Limited, said, In response to the expanding renewable energy capacity, we have broadened our portfolio to include Battery Energy Storage System (BESS) EPC solutions, reinforcing our position as a full-spectrum clean energy provider. With a strong order book of 3.15 GWp in Solar EPC and 40 MWh in BESS EPC, we are well-equipped to deliver next-generation, large-scale integrated energy projects."
Business Standard
03-07-2025
- Business
- Business Standard
Waaree Renewable bags EPC order from domestic entity
Waaree Renewable Technologies said that it has received letter of award (LoA) worth Rs 26.17 crore from domestic construction company for the execution of engineering, procurement and construction (EPC) works for solar power project. The company shall develop the ground mount solar power project including operation and maintenance (O&M) 21 MW AC /29.4 MW DC capacity. This project will be executed under Mukhyamantri Saur Krushi Vahini Yojana-2.0 (MSKVY 2.0). The project is scheduled to be completed in the financial year 2025- 26, as per the terms of the order. Waaree Renewable Technologies (WRTL) is a subsidiary company of Waaree Group and is spearheading the solar EPC business. The company provides clean energy to its clients by setting up both on-site solar projects (rooftop and ground-mounted) and off-site solar farms (open-access solar plants). The companys consolidated net profit jumped 82.7% to Rs 93.81 crore on a 74.4% increase in revenue from operations to Rs 476.58 crore in Q4 FY25 over Q4 FY24. The counter shed 0.94% to settle at Rs 989.10 on the BSE.
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Business Standard
03-06-2025
- Business
- Business Standard
Here's why Waaree Renewable share is buzzing in trade today; details
Waaree Renewable share price: Waaree Renewable Technologies (Waaree Renewable) shares were in demand on June 3, 2025, with the scrip rising up to 4.11 per cent to hit an intraday high of ₹1,068.05 per share. 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.
Business Standard
03-06-2025
- Business
- Business Standard
Waaree Renewable jumps on bagging major solar EPC contract
Waaree Renewable Technologies rose 3.28% to Rs 1,059.44 after the company secured a letter of award (LoA) for the engineering, procurement, and construction (EPC) of a large-scale solar power project. The new contract is valued at approximately Rs 346.33 crore. The project, awarded by a domestic renewable generation company, involves the development of a ground-mount solar power plant with a capacity of 300 MW AC / 435 MW DC. Waaree Renewable Technologies is tasked with completing the project within the financial year 2025-26, as per the terms stipulated in the LoA. Waaree Renewable Technologies (WRTL) is subsidiary company of Waaree Group and spearheading the Solar EPC business. The company provides clean energy to its clients by setting up both on-site solar projects (rooftop and ground-mounted) and off-site solar farms (open access solar plants). The companys consolidated net profit jumped 82.7% to Rs 93.81 crore on 74.4% increase in revenue from operations to Rs 476.58 crore in Q4 FY25 over Q4 FY24.
