Shares Waaree Renewable Technologies Ltd skyrocketed 14% on 17 April after the company announced its quarterly earnings for January-March. 

The company reported an 83% year-on-year (YoY) increase in net profit to Rs 94 crore for the quarter under review compared to Rs 51 crore reported in the same quarter of the previous fiscal year. 

The revenue from operations of the company during the quarter stood at Rs 476 crore, marking a 74% YoY increase from Rs 273 crore reported in the same quarter last year. 

The earnings before interest, tax, depreciation, and amortisation (EBITDA) increased by 62.8% YoY to 122.4 crore. However, the company’s EBITDA margins contracted by 180 basis points to 25.7% in Q4FY25 compared to 27.5% in Q4FY24. 

Waaree Renewables currently holds an unexecuted order book of 3.2 GWp, which it plans to deliver over the next 12 to 15 months. At the same time, its project bidding pipeline has grown substantially, now standing at 30 GWp.

On the Independent Power Producer (IPP) front, the company has already developed 54.82 MWp of solar power capacity and is in the process of building an additional 41.6 MWp IPP plant, expected to go live in the third quarter of FY25.

Waaree’s Operations and Maintenance (O&M) portfolio has also expanded, reaching approximately 695 MWp.

In addition, the company shared that it is actively exploring new opportunities for Engineering, Procurement, and Construction (EPC) contracts, both in India and abroad.

Waaree Renewable Technologies Limited (WRTL) operates as a subsidiary of Waaree Energies, one of the leading players in India’s renewable energy landscape.

At 11:42 am, the shares of Waaree Renewable were trading 10.87% higher at Rs 1,135.20 on NSE.

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