During Thursday’s trading session, shares of one of the leading players in the solar EPC space moved up by nearly 2 percent on BSE, after the company announced securing an order worth more than Rs. 26 crores to develop a ground mount solar power project.
With a market cap of Rs. 10,358 crores, at 10:32 a.m., the shares of Waaree Renewable Technologies Limited were trading in the green at Rs. 994.95 on BSE, up by nearly 0.6 percent, as against its previous closing price of Rs. 989.1. The stock has delivered negative returns of around 50 percent in one year, and has fallen by more than 3 percent in the last month.
What’s the News
According to the latest regulatory filings with the stock exchanges, Waaree Renewable Technologies Limited has been awarded a Letter of Award (LOA) from one of the construction company for the execution of Engineering, Procurement and Construction (EPC) works of solar power project including Operation and Maintenance (O&M) of 21 MW AC/29.4 MW DC capacity.
Waaree Renewable will develop the ground mount solar power project valued at Rs. 26.17 crores and is scheduled to be completed in FY26 under Mukhyamantri Saur Krushi Vahini Yojana-2.0 (MSKVY 2.0).
Financials & more
Waaree Renewable reported a significant growth in its revenue from operations, showing a year-on-year rise of around 75 percent from Rs. 273 crores in Q4 FY24 to Rs. 477 crores in Q4 FY25.
Similarly, its net profit increased during the same period from Rs. 51 crores to Rs. 94 crores, representing a rise of about 84 percent YoY.As of FY25, the company’s unexecuted order book is 3,263 MWp, while the executed order book stood at 1,524 MWp.
Waaree Renewable Technologies Limited is engaged in the business of generation of power through renewable energy sources and also providing Engineering, procurement, and construction (EPC) services in this regard.
Written by Shivani Singh
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