Waaree Renewables Technologies Ltd

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):

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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