Waaree Energies shares zoom 7% in afternoon session today, here's why
The shares of solar panel maker Waaree Energies rose 7% to Rs 2993 on Thursday against the previous close of Rs 2797. The market cap of the firm stood at Rs 85,713 crore.
- May 29, 2025,
- Updated May 29, 2025 2:10 PM IST
Shares of Waaree Energies rose 7% in the afternoon session today after the firm said its subsidiary in the US has received an order for supply of 586 MW solar modules. The cost of the order is $176 million.
"Waaree Solar Americas, a wholly owned subsidiary of Waaree Energies Limited has received an order on May 28, 2025 for supply of 586 MW solar modules for an amount of 176 Mn USD from a renowned customer who is a developer and owner operator of utility scale solar and energy storage projects across the United States," said the firm.
The supply of modules is scheduled to commence from the Financial Year 2026-27.
The shares of solar panel maker Waaree Energies rose 7% to Rs 2993 on Thursday against the previous close of Rs 2797. The market cap of the firm stood at Rs 85,713 crore.
Total 3 lakh shares of the firm changed hands amounting to a turnover of Rs 88.39 crore on BSE.
For the March quarter, the company announced a substantial 36.4% increase in revenue, reaching Rs 4,003.9 crore, up from Rs 2,935.8 crore during the same period last year. Net profit rose by 34.1% to Rs 618.9 crore, compared to Rs 461.5 crore a year earlier.
The company's EBITDA more than doubled, soaring 120.5% year-on-year to Rs 922.6 crore. Furthermore, there was a notable improvement in the EBITDA margin, which expanded to 23% from 14.3% in the previous year.
Looking forward, Waaree has projected an EBITDA range of Rs 5,500– Rs 6,000 crore for FY26. The company anticipates that this growth will stem from robust demand realization and enhancements in operational efficiency.
In terms of expansion, the company is increasing its capacity, with a 6 GW ingot/wafer facility slated to come online by FY27. Additionally, the module segment, currently at a capacity of 15 GW, is expected to grow by an extra 4.8 GW during FY26–27.
Waaree Energies is an Indian manufacturer of solar PV modules with an aggregate installed capacity of 12 GW. Its product portfolio includes solar energy products consisting of the PV modules such as multicrystalline modules; Monocrystalline modules; and TopCon modules.
Shares of Waaree Energies rose 7% in the afternoon session today after the firm said its subsidiary in the US has received an order for supply of 586 MW solar modules. The cost of the order is $176 million.
"Waaree Solar Americas, a wholly owned subsidiary of Waaree Energies Limited has received an order on May 28, 2025 for supply of 586 MW solar modules for an amount of 176 Mn USD from a renowned customer who is a developer and owner operator of utility scale solar and energy storage projects across the United States," said the firm.
The supply of modules is scheduled to commence from the Financial Year 2026-27.
The shares of solar panel maker Waaree Energies rose 7% to Rs 2993 on Thursday against the previous close of Rs 2797. The market cap of the firm stood at Rs 85,713 crore.
Total 3 lakh shares of the firm changed hands amounting to a turnover of Rs 88.39 crore on BSE.
For the March quarter, the company announced a substantial 36.4% increase in revenue, reaching Rs 4,003.9 crore, up from Rs 2,935.8 crore during the same period last year. Net profit rose by 34.1% to Rs 618.9 crore, compared to Rs 461.5 crore a year earlier.
The company's EBITDA more than doubled, soaring 120.5% year-on-year to Rs 922.6 crore. Furthermore, there was a notable improvement in the EBITDA margin, which expanded to 23% from 14.3% in the previous year.
Looking forward, Waaree has projected an EBITDA range of Rs 5,500– Rs 6,000 crore for FY26. The company anticipates that this growth will stem from robust demand realization and enhancements in operational efficiency.
In terms of expansion, the company is increasing its capacity, with a 6 GW ingot/wafer facility slated to come online by FY27. Additionally, the module segment, currently at a capacity of 15 GW, is expected to grow by an extra 4.8 GW during FY26–27.
Waaree Energies is an Indian manufacturer of solar PV modules with an aggregate installed capacity of 12 GW. Its product portfolio includes solar energy products consisting of the PV modules such as multicrystalline modules; Monocrystalline modules; and TopCon modules.