Newsletter
Waaree powers up on renewables
Earnings season brought the sun out for Waaree Renewable Technologies. The company posted a solid Q4, riding on India’s growing appetite for clean energy.
By the numbers, Waaree reported a profit of ₹93.8 crore, up 83% YoY. Total income jumped to ₹481.43 crore, a sharp rise from ₹275.35 crore in the same quarter last year.
The company’s Engineering, Procurement, and Construction business was the star of the show, with revenue climbing 76% YoY to ₹469.72 crore. Meanwhile, expenses also rose 75% hitting ₹356.25 crore, reflecting the scale and speed of project execution.
Zoom out: with aggressive government targets and rising corporate interest in green power, solar and wind projects are getting fast-tracked. The country aims for 500 GW of non-fossil fuel capacity by 2030, and companies like Waaree are playing a key role in making that happen.
Stock trend: Waaree delivered multibagger returns of over 50,000% in the past five years. But it hasn’t been a smooth ride. In the last one year, the stock has corrected over 52%, coming off its highs.
April brought signs of life again as the stock gained 27%, building on a 10% rise in March, after five straight months of declines.
