Waaree Energies Limited, a leading player in the solar energy sector, announced receiving a significant order for the supply of solar PV modules. The order, awarded by a domestic entity engaged in renewable power projects, is for 150 MWp capacity.
This development underlines Waaree Energies’ continued efforts to strengthen its foothold in the renewable energy market. The contract demonstrates its ability to secure large-scale orders and support India’s push toward sustainable energy solutions.
The company clarified that this transaction does not involve any related-party dealings, and the promoters have no interest in the awarding entity.
For Q2FY25, Waaree Energies’ consolidated revenue came in flat year-on-year (YoY) at ₹3,574 crore, against ₹3,537 crore in Q2FY24. EBITDA margins came at 14.7% against 14.6% in a year ago quarter.
On a sequential basis, margins contracted by 152 bps from 16.2%in Q1FY25. Profit after tax (PAT) surged 17% YoY at ₹376 crore led by other income. The company reported other income of ₹89.09 crore against ₹21.25 crore in the year-ago quarter.
Despite the announcement, Waaree Energies’ share price was trading down by 0.81% as of 11:18 AM on January 2, 2025.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
Investments in the securities market are subject to market risks, read all the related documents carefully before investing.
Published on: Jan 2, 2025, 2:26 PM IST
We're Live on WhatsApp! Join our channel for market insights & updates
Get the link to download the App
