Introduction:
Leading solar EPC firm reported a 16.7% decline in Q3 FY25 net profit despite an 11% revenue growth. Margins fell sharply by 700 basis points, as rising costs overshadowed strong revenue performance during the quarter.
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Share price movement of Waaree Renewable:
On January 16, 2025, Waaree Renewable Technologies Ltd. opened at ₹1,190.00, down 4.87% from its previous close of ₹1,145.95. The stock reached a high of ₹1,233.00 (7.60%) and a low of ₹1,025.00. By 3:50 PM, it traded at ₹1,076.75, a 6.04% decrease, with a market cap of ₹11,224.75 crore.
Waaree Renewable Q3 Profit Drops Despite Revenue Growth:
Waaree Renewable Technologies Ltd. reported a 16.7% year-on-year decline in net profit to ₹53.5 crore for Q3 FY25, despite an 11% revenue increase to ₹360 crore. Margins contracted by 700 basis points to 20%.
The solar EPC subsidiary of Waaree Group saw EBITDA drop 18% to ₹72 crore, with EBITDA margins falling to 20% from 27%. Rising costs, particularly a 31% increase in EPC expenses, significantly impacted profitability.
Employee expenses surged 64% to ₹7.92 crore, while other expenses more than doubled to ₹4.57 crore. Elevated costs overshadowed revenue growth, putting pressure on the company’s financial performance during the quarter ended December 2024.
Recent news on Waaree Renewable:
As of December 31, 2024, Waaree Renewable Technologies Ltd. secured its largest-ever 2 GW solar EPC contract from Sunbreeze Renewables Nine Pvt. Ltd., a Jindal Renewables SPV, to develop a project in Bikaner, Rajasthan.
Stock performance of Waaree Renewable for Period of 1 week, 6 months and 1 year:
Over the past week, the stock declined by 8.42%, reflecting short-term pressures. The six-month performance shows a significant drop of 38.0%, while the one-year return remains robust at 120%, highlighting long-term growth potential.
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Shareholding pattern of Waaree Renewable:
| All values in % | Dec 2024 | Sep 2024 | Jun 2024 |
| Promoter | 74.40% | 74.40% | 74.50% |
| FII | 1.00% | 1.00% | 0.80% |
| DII | 0% | 0% | 0.00% |
| Public | 24.60% | 24.60% | 24.70% |
About Waaree Renewable:
Waaree Renewables Technologies Ltd. (BSE: 534618), incorporated in 1999, specializes in renewable energy generation and consultancy. A subsidiary of Waaree Group, it leads India’s solar EPC market with 12 GW manufacturing capacity and 1.9+ GW installations.
Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time The securities quoted are exemplary and are not recommendatory.
