 "Here's why Waaree Energies share price slipped 4% in trade on December 13")
Waaree Energies share price: Battery manufacturing company Waaree Energies snapped its 7-day winning streak, as the scrip dropped up to 3.96 per cent to hit an intraday low of Rs 3,161.65 apiece on Friday, December 13, 2024, amid profit booking.
By 1 PM, 1.56 lakh shares worth Rs 50.36 crore had been traded on the BSE. Meanwhile, sell orders for 1,49,499 shares were pending, compared to buy orders for 17,348 million shares.
Earlier this week, Waaree Energies announced that its arm, Waaree Forever Energies, received a Letter of Award (LoA) for the development of a 170 MW Solar power plant in Madhya Pradesh, from Rewa Ultra Mega Solar Limited (RUMSL). During the same period, the Company received an order for supply of solar modules up to 1 GW from a renowned customer engaged in the business of owning, developing and operating renewable power projects in India.
Waaree Energies financial performance
The company’s profit after tax (PAT) grew 17 per cent year-on-year (Y-o-Y) to Rs 3,756.59 crore, from Rs 3,201.21 crore in the same quarter a year ago (Q2FY24), according to the statement released by the company.
The company’s total income rose 2.95 per cent Y-o-Y to Rs 36,634.63 crore in Q2FY25, from Rs 35,585.47 crore in Q2FY24.
More From This Section
On the operational front, earnings before interest, tax, depreciation and amortisation (Ebitda) grew 14.01 per cent annually to Rs 6,139.37 crore in Q2FY25, from Rs 5,385.09 crore in Q2FY24. Its Ebitda margin, meanwhile, expanded to 16.76 per cent in the September quarter of FY25, from 15.13 per cent in the September quarter of FY24.
Waaree Energies IPO listing
The shares of Waaree Energies made a strong debut on the stock exchanges on October 28, 2024, outperforming its IPO allotment price. The shares were listed at Rs 2,550 on BSE, a premium of 69.66 per cent over the IPO allotment price of Rs 1,503. Meanwhile, on the National Stock Exchange, the stock opened at Rs 2,500, reflecting a premium of 66.33 per cent against the IPO price.
About Waaree Energies
Established in 1990, Waaree Energies Limited (WAAREE) is India's leading renewable energy company, accelerating the global energy transition. Headquartered in Mumbai, we operate state-of-the-art manufacturing facilities with an installed capacity of ~13.3GW for solar PV modules (including 1.3GW of Indosolar).
With presence across India and more than 25 countries worldwide, it offers innovative solar solutions, including panel manufacturing, EPC services, project development, and rooftop systems.
At 1:00 PM, Waaree Energies shares were trading 2.57 per cent lower at Rs 3,206.25 per share. In comparison, BSE Sensex was trading 0.54 per cent higher at 81,726.79 levels.