Stock in Focus: Renewable sector giant Waaree Energies has informed about receiving three new solar module supply orders totaling 570 megawatt (MW) in the domestic market. Its subsidiary Waaree Solar Americas has also won a 122 MW solar module supply order in the US. This order has been received from the developer and owner-operator of utility-scale solar and energy storage projects.
In India, the company has received orders for supply of 220 MW, 210 MW and 140 MW solar modules from owner and operator customers of renowned renewable power projects. These orders will be completed in 2025-26 and 2026-27.
Waaree Energies quarterly results
The consolidated net profit of Waari Energies in the second i.e. June-September quarter was ₹843 crore. This is an increase of 133% compared to a year ago. Waari Energies’ revenue grew 69.7% year-on-year to ₹6,066 crore. At the same time, operating income i.e. EBITDA more than doubled to ₹ 1,406 crore.
Its margin increased from 14.7% to 23.2%. Also, the company has also declared a first interim dividend of ₹2 per share with face value of ₹10 for its shareholders.
Brokerage Opinion on Waaree Energies
Brokerage firm Nuvama is quite bullish on Waaree Energies after the quarterly results. Reiterating his confidence, he has maintained ‘Buy’ rating on this stock and has set a target price of Rs 4,150 for it. This indicates an increase of about 17% from the current level.
The brokerage believes that due to strong demand in the solar sector, reduction in GST and increase in global exports, the company will maintain its strong performance in the coming times. Vaari Energies has maintained its EBITDA guidance at Rs 5,500-6,000 crore for FY26.
Status of Waaree Energies shares
Shares of Waari Energies closed at Rs 3,520.60, down 1.31% on Friday, October 24. The stock has given a strong return of 30.38% in the last 6 months, while investors have got a gain of 50.52% in the last 1 year. This year also a rise of 23.00% has been seen in the stock in 2025. The market cap of the company is Rs 1.01 lakh crore.
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