Waaree Renewable shares future growth plans post stellar Q4 earnings, stock down
Waaree Renewable stock closed 5% lower at Rs 2435.80 on BSE on Monday. Market cap of the firm fell to Rs 25,368 crore.
- May 13, 2024,
- Updated May 13, 2024 5:02 PM IST
Shares of Waaree Renewable Technologies were stuck in the lower circuit of 5% today even as the firm reported a four-fold rise in consolidated net profit after tax at Rs 54.18 crore for the March quarter FY24 on the back of higher revenues. It had clocked a PAT of Rs 12.28 crore in the year-ago period.
In an interview with BTTV’s Sakshi Batra, Dilip Panjwani, CFO, Waaree Renewable Technologies shared the growth plans and vision of the green energy player for the future after Q4 earnings.
Commenting on the Q4 earnings, Panjwani said the firm has done three times more executions than what it did last year. “We were just below 300 megawatt and we have accomplished 700 megawatt. So we have clocked turnover, which is in every metric are either 2.5 times or three times higher than the previous year,” said Panjwani. The company has an order book of 2.3 GW for FY25.
On the operating margins of the firm, Panjwani said the company would continue to operate in the margin band of 15% to 20% for some more period of time.
The company’s focus is on India. Rajasthan, Gujarat, Tamil Nadu, Andhra Pradesh are some states, which account for higher jump in renewable energy space, said Panjwani.
On the projected revenue growth, Panjwani said the firm has Rs 3200 crore order book. “There's a pipeline of 13 gigawatt that we're already discussing with our customers. Even combining these two and you know, you put a conversion rate of 30 to 40%,” added Panjwani.
Total revenue in Q4 rose to Rs 273.25 crore from Rs 61.49 crore in the year-ago period.
Earnings before interest, taxes, depreciation, and amortization (EBITDA) climbed to Rs 75.30 crore as compared to Rs 22.29 crore a year ago. As of March 31, the company's unexecuted order book stands at 2,365 MW.
The company's board also approved a dividend of Re 1 of face value of Rs 2 each for FY24. The stock closed 5% lower at Rs 2435.80 on BSE on Monday. Market cap of the firm fell to Rs 25,368 crore.
Shares of Waaree Renewable Technologies were stuck in the lower circuit of 5% today even as the firm reported a four-fold rise in consolidated net profit after tax at Rs 54.18 crore for the March quarter FY24 on the back of higher revenues. It had clocked a PAT of Rs 12.28 crore in the year-ago period.
In an interview with BTTV’s Sakshi Batra, Dilip Panjwani, CFO, Waaree Renewable Technologies shared the growth plans and vision of the green energy player for the future after Q4 earnings.
Commenting on the Q4 earnings, Panjwani said the firm has done three times more executions than what it did last year. “We were just below 300 megawatt and we have accomplished 700 megawatt. So we have clocked turnover, which is in every metric are either 2.5 times or three times higher than the previous year,” said Panjwani. The company has an order book of 2.3 GW for FY25.
On the operating margins of the firm, Panjwani said the company would continue to operate in the margin band of 15% to 20% for some more period of time.
The company’s focus is on India. Rajasthan, Gujarat, Tamil Nadu, Andhra Pradesh are some states, which account for higher jump in renewable energy space, said Panjwani.
On the projected revenue growth, Panjwani said the firm has Rs 3200 crore order book. “There's a pipeline of 13 gigawatt that we're already discussing with our customers. Even combining these two and you know, you put a conversion rate of 30 to 40%,” added Panjwani.
Total revenue in Q4 rose to Rs 273.25 crore from Rs 61.49 crore in the year-ago period.
Earnings before interest, taxes, depreciation, and amortization (EBITDA) climbed to Rs 75.30 crore as compared to Rs 22.29 crore a year ago. As of March 31, the company's unexecuted order book stands at 2,365 MW.
The company's board also approved a dividend of Re 1 of face value of Rs 2 each for FY24. The stock closed 5% lower at Rs 2435.80 on BSE on Monday. Market cap of the firm fell to Rs 25,368 crore.