Waaree Energies reported a 14.77% YoY rise in net profit at ₹361.65 crore for the three months ended September of FY25 as compared to ₹315.09 crore for the corresponding period a year ago. However, net profit of the company declined sequentially from ₹394.14 crore in Q1FY25.
Revenue Highlights
The company’s revenue from operations was largely stable at ₹3,574.37 crore, a marginal increase of 1% YoY from ₹3,537.30 crore.
Key Developments
- ₹600 Crore Investment Plan:
Waaree Energies’ board has approved an investment of ₹600 crore in its subsidiaries to develop infrastructure, including land and connectivity, for renewable energy projects and upcoming bids. - Green Hydrogen and Lithium-Ion Initiatives:
The company is exploring entry into electrolyser manufacturing for green hydrogen and establishing a lithium-ion advanced chemistry energy storage plant. A detailed roadmap for these ventures will be shared in the next two months. - IPO Performance and Stock Market Update:
- Waaree Energies had a stellar stock market debut last month, listing at ₹2,500 on the NSE, a 66.3% premium over its issue price of ₹1,503 per share.
- The ₹4,321-crore IPO was oversubscribed 76.34 times.
- On November 18, Waaree Energies’ stock closed 6.46% higher at ₹3,106 on the NSE.
Industry Position
Waaree Energies is the largest company in the Indian solar energy space, with a manufacturing capacity of 12 GW PV modules across five production units in Gujarat and Uttar Pradesh.
It leaves the company well placed for the future as all its major focus will be on renewable energy growth, diversification into green hydrogen, and energy storage.
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Source: Moneycontrol
News Desk
