Waaree Energies share price have surged over 3% intra-day on Thursday, February 20, reaching a high of Rs 2,319 in morning trading. The surge in the share price follows the latest order win for solar modules. Here’s a closer look at what’s driving this rally:
Waaree Energies bags new order secured for solar modules
On February 19, Waaree Energies announced that it had secured an order for the supply of solar PV modules with a capacity of 362.5 MWp.
In an exchange filing, the company stated, “Waaree Energies has received an order for supply of solar modules for 362.5 MWp from a renowned customer engaged in the business of owning, developing, and operating renewable power projects in India.”
Apart from this latest order, Waaree Clean Energy Solutions, a wholly owned subsidiary of Waaree Energies, also secured a Notification of Award (NOA) from the Solar Energy Corporation of India Limited (SECI) in January 2025.
ALSO READThis Madhusudan Kela pick is down 24% in 2025, Here’s why…
“This is to inform you that the Waaree Clean Energy Solutions Private Limited a wholly owned subsidiary of the Company has received a Notification of Award (NOA) on 30th January 2025 at 6.41 pm from the Solar Energy Corporation of India Limited (SECI) for Setting up a Production Facility of 90,000 MT/Annum for Green Hydrogen in India under the Strategic Interventions for Green Hydrogen Transitions (SIGHT) Scheme (Model-1, Tranche-II,” said the company in an exchange filing on January 31.
Waaree Energies Q3FY25 financial performance
Waaree Energies er on January 30 announced its financial results for the quarter ending December 31, 2024 (Q3FY25). The company reported a net profit of Rs 493 crore, up 296% YoY compared to Rs 124 crore in Q3FY24.
Furthermore, the revenue from operations stands at Rs 3,457 crore, marking a 117% YoY increase from Rs 1,596 crore in the same quarter last year. The Profit After Tax (PAT) was up 36% from Rs 362 crore in Q2FY25.
ALSO READ2025 Stock Market Crash: 5 stocks that bucked the trend and delivered solid returns Waaree Energies stock performance
Despite recent gains, Waaree Energies share price has seen volatility over the past few months. On a one month basis, the share price of the company was down nearly 12% and in the last six month the share price of the company fell nearly 2%.
» Read More
