Waaree Energies, one of India’s largest solar PV module manufacturers share price fell to an intra-day low of Rs 2,134.35 on February 18. In fact, it had slipped 24% so far in 2025. Over the past month alone, the share price has dropped 18%, and has plunged around 30% since its debut on the stock exchanges on October 28, 2024.
Global concerns impacting renewable stocks
One of the major reasons behind Waaree Energies share price decline has been broader concerns surrounding renewable energy stocks. Investors have been cautious amid uncertainty over policy direction in the United States under former President Donald Trump. This uncertainty has led to a sell-off in renewable energy stocks, including Waaree Energies.
A wide gap between 52-Week high and low
A renewable energy company, Waaree Energies share price reached its 52-week high of Rs 3,743 per share on November 6, 2024. However, it has since struggled, marking its 52-week low at Rs 2,026 per share on January 27, 2025. With the latest price movement, the stock is now just 5% away from its 52 week low.
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Despite the recent downturn, ace investor and fund manager Madhusudan Kela showed confidence in Waaree Energies by making a fresh investment in the company. In Q3 FY25, Kela acquired 33.41 lakh equity shares, amounting to a 1.16% stake in the company.
Waaree Energies Q3FY25 performance
While the stock has been under pressure, Waaree Energies delivered an impressive financial performance in Q3 FY25:
The net profit of the company surged fourfold to Rs 493 crore, compared to Rs 124.5 crore in Q3FY24.Furthermore, the revenue o the also increased by 116% to Rs 3,457 crore, up from Rs 1,596 crore in the same quarter last year. The company’s order book stood at 26.5 GW, valued at approx. Rs 50,000 crore as of January 30, 2025.
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The brokerage firm, Nuvama, has not yet given a rating to Waaree Energies. The brokerage in its report said, “Waaree indicated strong growth avenues with its expansions. Moreover, it undertakes solar EPC projects via its listed subsidiary Waaree Renewable Technology (WRTL: 74.51% of WEL).
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