This smallcap renewable firm has surged 548% in one year; do you own it?

Shares of Waaree Renewable Technologies locked in a 5 per cent upper circuit at Rs 1734.75 a piece on Wednesday after the company reported its second quarter earnings for the financial year 2024-25 (Q2FY25).

 

The company’s revenue from operations for Q2FY25 stood at Rs. 524.47 crore, representing a growth of 249.50 per cent year-on-year as compared to Rs. 150.06 crores in Q2FY24.

 

The company reported a profit after tax (PAT) of Rs 140 crore in the September quarter of FY25, rising 3.9 per cent Y-o-Y. Sequentially the profits soared 25.7 per cent.

 

The earnings before interest, tax and depreciation (Ebitda) stood at Rs. 71.57 crore as compared to Rs. 30.68 crores in Q2-FY24 representing a growth of 133.27 per cent year-on-year . Ebitda margin came in at 13.6 per cent versus 20.4 per cent in Q2FY24.

 

 

The company said that its EPC segment delivered exceptional performance, achieving customer billing of Rs. 583.36 crores for a volume of 528.56 MWp, compared to Rs. 141.09 crores for a volume of 169.59 MWp. 

 

The company’s unexecuted order book stands at 1.7 GWp as of September 2024, with a bidding pipeline of Rs 17.8 GWp. 

 

Waaree Renewable Technologies is a solar developer that finances, builds, owns, and operates solar projects. The company offers a range of solar solutions, including rooftop, ground-mounted, and floating solar installations. Additionally, Waaree generates power from renewable energy sources and provides consultancy services in the solar energy sector.

 

Waaree Renewable share price history

The company’s stock has outperformed the market year to date as it has risen 295 per cent, while gaining 548 per cent in the last one year. In comparison BSE Sensex has risen 10.7 per cent year to date and 23 per cent in a year. 

 

The company has a total market capitalisation of Rs 18,084.17 crore. Its shares are trading at a price to earnings multiple of 104.03 times and at an earning per share of Rs 15.88.