Waaree Renewable Technologies shares rise 14% on Q4 earnings

Shares of Waaree Renewable Technologies surged by 14.2% during intraday trading on April 17, reaching ₹1,170. Despite this gain, the stock remains 61.5% below its 52-week high of ₹3,037.75 set on April 26, 2024. Earlier this month, it touched a 52-week low of ₹732.05. Over a five-year period, Waaree Renewable has delivered multibagger returns of over 50,000%, yet recent performance has been volatile with a 52.69% decline over the past year.

The sharp rise in share price followed the release of strong Q4 results, with net profit surging 83% to ₹93.76 crore, up from ₹51.31 crore in the corresponding quarter last year. Revenue for the March 2025 quarter increased by 74% year-on-year to ₹476.57 crore, boosted by significant gains in the Engineering, Procurement and Construction (EPC) segment. This segment alone witnessed a 76% year-on-year revenue increase to ₹469.72 crore, underscoring the company's momentum in renewable energy projects.

Total expenses for Waaree Renewable rose 75% year-on-year to ₹356.25 crore, primarily due to heightened EPC contract costs. Meanwhile, the power sales segment's revenue remained flat, showing a slight decrease of 0.14% to ₹6.85 crore compared to the previous year. Despite recent gains, the stock had experienced a challenging period, with declines over five consecutive months from October 2024 through February 2025. The recent rebound may signal a renewed investor confidence buoyed by the company's financial performance.