Waaree Renewables Technologies Ltd

Stocks
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From Rs 10 to 300x return: This energy company generated an exceptional return for its shareholders!

If someone had purchased stocks worth Rs 1 lakh of this company, they would now be valued at Rs 3 crore.

Waaree Renewables Technologies Ltd is engaged in the business of generating power through renewable energy sources and provides consultancy services in this regard. It is one of the largest vertically integrated new energy companies in India.
At the start of the day’s trading session, the stock opened at Rs 3008.80 per share, indicating an approximate 5% increase compared to the previous day’s closing figure of Rs 2865.55 per share on the BSE. As of the time of writing this article, the shares are currently at Rs 3008.80 per share on the BSE.

Furthermore, the company’s stock has reached a significant milestone of Rs 3000 for the first time today. Back in the year 2020, when the markets experienced a significant downfall, the stock was available at around Rs 10 per share. From this low point, the company never looked back and showcased robust strength. Today, it has reached Rs 3000, representing an impressive multibagger return of 29,900%. If someone had invested Rs 1 lakh in this company, it would be valued at Rs 3 crore.

The company’s current market capitalisation stands at Rs 6,267 crore, and the stock has generated an impressive return of 528% during the past one year and around 13,508% return in the past three years.

Stock Chart (Weekly):

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Financial Performance:

In the third quarter of FY24, the company reported revenues of Rs 324 crore, reflecting a growth of 339% YoY compared to the same quarter in the previous year, when the revenue stood at Rs 74 crore. The company posted an operating profit of Rs 88 crore for the quarter, in contrast to an operating profit of Rs 36 crore in the corresponding quarter of the previous year. Furthermore, the company reported a net profit of Rs 64 crore, compared to a net profit of Rs 25 crore in the same period last year. The company’s net profit has significantly grown around 156% YoY this quarter. The company’s ROCE and ROE ratios are 83.8% and 95.8% respectively, while the stock is trading at a PE of 59 times in the market.

In terms of ownership, the Promoter holds 74.46%. The DIIs hold 0.09%, while the remaining 25.43% is held by public investors as per the most recent update.
Investors should keep stocks from the energy sector to reap the benefits of the upside momentum in stock prices.

Disclaimer: This post has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.

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Really a nice piece of information.

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Waaree Renewables locked in the upper circuit after bagging a huge work order worth Rs 1,401 crore; know more here

Outperforming the broader market, the company’s share price has surged 404.65% in 6 months compared to a 56.95% change in BSE Utilities.

About the Order
Waaree Renewable Technologies Limited, a subsidiary of Waaree Energies Limited has secured a substantial contract from North Eastern Electric Power Corporation Limited (NEEPCO). Waaree Renewable has received a Letter of Intent (LOI) to execute the engineering, procurement, and construction (EPC) for a 300 MW AC ground-mounted solar project connected to an Inter-State Transmission System (ISTS). The project also includes land development and a three-year operation and maintenance agreement.

The project is valued at approximately Rs 1,401 crore (excluding taxes), underscoring Waaree’s growing prominence in India’s rapidly expanding renewable energy sector. The company anticipates completing the project within the financial year 2025-26. As of 9MFY24 company’s unexecuted order book stands at approximately 749 MW and the successful order book stands at 473 MWp.

Stock Performance
In the last trading session, the stock closed at Rs 5,557.40. Today it opened at Rs 5,800 and currently, it got locked in the upper circuit at Rs 5,835.25, up by 5%. Shares of the company hit all-time today at Rs 5,835.25, while its 52-week low stands at Rs 600.50. Currently, the company boasts a market capitalisation of approximately Rs 12,150 crore. On a YTD basis, the company has given multibagger returns of 165.95%. In six months the company’s shares have yielded multibagger returns of 404.65% and in the same time frame, BSE Utilities has changed by 56.95%.

"About the Company*
Incorporated in 1999, Waaree Renewables Technologies Ltd is engaged in the business of generation of power through renewable energy sources and also provides consultancy services in this regard. Waaree Energy is one of the largest vertically integrated new energy companies. It has India’s largest Solar panel manufacturing capacity of 12GW at its plants in Chikhli, Surat and Umbergaon in Gujarat.

The company has a renewable energy business with a focus on Solar PV, the primary focus being Solar Pumps, Solar Park, Captive Consumption, Floating Solar, and Rooftop Solar. It provides floating solar solutions, rooftop solar solutions and ground-mounted solar project EPC solutions.

Disclaimer: This post has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.

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Why Is Waaree Renewables Rallying?

The trend of renewables is catching up and the government is particularly focused on the capabilities of harnessing solar power and Waaree Renewables is here to reap.

Since India announced to go carbon neutral by 2047 there has been an aggressive push towards building capacities which aid in harnessing renewable power as India happens to be a tropical nation, solar energy is the main focus, and there are few companies that specialise in solar energy in India and Waaree Renewables happens to be one of them.

Stock Rally

Investors of Waaree Renewables are having a field day look their portfolio as the stock has given 6 consecutive upper circuits until now, that is returns of 34% in just 6 trading sessions, if we look back a little more we see that in the past 12 months alone the stock has given 1,020% returns.

Time Frame Returns
1 Month 33%
6 Months 554%
12 Months 1,020%
5 Years 49,720%

Looking at the table above it becomes very clear that the stock has given abnormal returns.

Clients and Order Book

Waaree Renewables boasts a wide range of clients under its belt like Reliance Industries Limited, Larsen and Toubro, Arcelor Mittal, Aditya Birla Group, Bharat Petroleum, Cello, Mumbai Metro MMRDA, Mondelez International, NTPC, MSL. For all these clients Waaree provides a range of products with a range as Solar Pumps, Solar Park, Captive Consumption, Floating Solar, and Rooftop Solar.

Up until now, the company has completed more than 10,000 Projects in Pumps, Telecom & Rooftops while they also have a 490+ MW O&M (Operations and maintenance) portfolio of solar power plant assets, the company has also utilized more than 99% of plant available time.

The company has a presence and orders from across the world their services reach up to 68 countries with an order book of 856+ MW and successfully executed orders of 96+ MW in Q1FY24. The company has won a contract to set up a 1 MW Green hydrogen Plant, while the company has 6 key ongoing large-scale projects. In FY23 alone the company commissioned 1.2+ GW Projects and supplied 6 GW+ Modules.

Conclusion
Waaree Renewables shows great growth potential while keeping the interests of government goals in mind but one must look at the stock price to see if the is stock available at the right price, the order book runs deep and Waaree seems to have reached in most parts of the world.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.

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Wow , they have shown constant growth throughout these years !!

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Waaree Energies Secures Solar Module Supply Contract in Rajasthan

Waaree Energies on Monday said it had secured a solar module supply contract for a 412 MWp project in Rajasthan to supply bi-facial solar modules.

Founded in 1990, Waaree Energies is renowned as India’s largest solar PV module manufacturer, boasting an impressive installed capacity of 12 GW as of June 30, 2023, as per CRISIL Report. It commenced operations in 2007, focusing solely on solar PV module manufacturing. With four manufacturing facilities in India and a global presence, Waaree Energies has established itself as a prominent player in the solar energy industry.

Waaree Energies secures contract

Waaree Energies announced the acquisition of a solar module supply contract for a substantial 412 MWp project in Rajasthan. The contract entails providing bi-facial solar modules, each of them with a capacity ranging from 540-545 Wp (watt peak), for this project. Waaree Energies anticipates the project’s completion by March 2025. These bi-facial modules have the capability to absorb sunlight from both their front and rear sides, enhancing overall energy generation efficiency.

Waaree Energy DRHP

In December 2023, Waaree Energies took a significant step by filing its Draft Red Herring Prospectus (DRHP) with the capital market regulator, Sebi, signaling its intention to launch an Initial Public Offering (IPO). The company plans to issue fresh shares worth Rs 3,000 crore through this IPO, along with the fresh issue it also plans to include an offer-for-sale (OFS) of up to 32,00,000 equity shares. With the IPO, Waaree Energies aims to raise between Rs 3,500 to Rs 3,700 crore, marking a pivotal moment in its journey towards accessing capital markets and fueling further growth initiatives of the company.

Conclusion: Waaree Energies’ successful acquisition of a solar module supply contract for a 412 MWp project in Rajasthan underscores its leadership in the solar energy sector. The deployment of bi-facial solar modules with high capacities demonstrates the company’s commitment to innovation and efficiency in renewable energy solutions. Additionally, the company’s IPO filing, aimed at raising significant capital, aligns with its strategic vision for expansion and innovation, showcasing a holistic approach to growth and sustainability.

Disclaimer: This post has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.

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Waaree Renewable Technologies Secures Major EPC Contract for Solar Power Project

Waaree Renewable Technologies announced the receipt of a Letter of Award (LOA) for the execution of EPC works for a solar power project with a capacity of 1.090 MWp DC

Introduction

Waaree Renewable Technologies Limited, a subsidiary of Waaree Energies Limited, has recently been awarded a significant contract for the development of a solar power project. This blog will explore the details of this award, the significance of the project, and the broader implications for Waaree and the renewable energy sector.

Project Overview

On June 26, 2024, Waaree Renewable Technologies Limited announced the receipt of a Letter of Award (LOA) for the execution of Engineering, Procurement, and Construction (EPC) works for a solar power project with a capacity of 1.090 MWp DC. This contract underscores Waaree’s commitment to advancing renewable energy solutions and its leadership in the industry.

Key Details of the Award

Awarding Entity: A leading company in metal recycling, specialty chemicals, metal intermediates, mining, industrial gas production, mineral exploration, and engineering services.

Project Capacity: 1.090 MWp DC

Technology Used: HDPE floater for mounting structure

Order Value: Approximately Rs 4.122 crore (excluding taxes)

Execution Timeline: The project is scheduled for completion within the financial year 2024-25.

Domestic Impact

This project, awarded by a domestic entity, signifies a substantial step in the renewable energy sector within India. It reflects the growing trend of investing in sustainable energy sources to meet the country’s increasing power demands while reducing carbon footprints.

Strategic Importance for Waaree

For Waaree Renewable Technologies Limited, this project represents a crucial milestone. It not only enhances their portfolio but also demonstrates their capability to deliver cutting-edge solar power solutions. The successful execution of this project will likely bolster Waaree’s reputation and pave the way for future opportunities in both domestic and international markets.

Broader Implications

The awarding of this project to Waaree highlights the potential of solar energy in addressing energy needs sustainably. It serves as an example of how renewable energy projects can be integrated into various sectors, promoting a greener and more sustainable future.

Conclusion

Waaree Renewable Technologies Limited’s latest contract is a testament to their expertise and dedication to renewable energy. As the world moves towards more sustainable energy solutions, projects like these play a vital role in shaping a cleaner, more sustainable future. Stay tuned for more updates on the progress and impact of this significant project.

Disclaimer: This post has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.