The shares of this small-cap stock, providing EPC services in the renewable energy sector came into focus after bagging an EPC Project for 40 MWh Battery Storage for a consideration of ~Rs 40 crores.
Price Action
With a market capitalization of Rs 9,256.57 crore, Waaree Renewable Technologies Ltd jumped 3 percent on Thursday’s trading session and made an intraday high of Rs 912.00 per share compared to its previous closing price of Rs 878.10 per share.
The stock retraced from its day’s high and was trading at Rs 888 which is 1 percent higher than the previous closing price.
What Happened
Waaree Renewable Technologies Ltd was awarded a domestic order from an Independent Power Producer. This contract involves the execution of EPC work for a 40MWh battery storage system for a consideration of ~Rs 40 crore, and is scheduled to be completed in the financial year 2025-26.
Also read: Stock under ₹100 hits 5% upper circuit after receiving ₹7 Cr order from BEML
Company Overview
Waaree Renewable Technologies Ltd is an Indian EPC company specialising in the business renewable energy sector. The company is a solar developer that finances, constructs, owns, and operates various solar projects. It delivers clean energy to clients by establishing both on-site solar installations and off-site solar farms.
Major clients include Reliance, Aditya Birla, NTPC and Adani among many others. The company has commissioned over 178 rooftop projects totalling over 50 MW and manages an O&M portfolio exceeding 587 MW. Additionally, it has 2.29 MW in floating solar projects and an in-house R&D team dedicated to the development of new technology.
Financials
The company’s revenue stands at Rs 360 crore in Q3 FY25, up by 11 percent year on year. However, there was a 16 percent year-on-year decline in net profits to Rs 54 crore during the same period.
Written by Shwetha Sairam
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The shares of this small-cap stock, providing EPC services in the renewable energy sector came into focus after bagging an EPC Project for 40 MWh Battery Storage for a consideration of ~Rs 40 crores. Price Action With a market capitalization of Rs 9,256.57 crore, Waaree Renewable Technologies Ltd jumped 3 percent on Thursday’s trading session
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