Waaree Renewable Technologies Jumps 3% After Securing ₹40 Crore Battery Storage Order
Stock Rallies on New EPC Project Win
Shares of Waaree Renewable Technologies Ltd surged by 3% on Thursday after the company secured an Engineering, Procurement, and Construction (EPC) project worth ₹40 crore for a 40 MWh battery storage system. This development has brought renewed investor interest in the stock, driving intraday gains in the small-cap renewable energy company.
Stock Performance & Market Reaction
Waaree Renewable’s stock price reached an intraday high of ₹912, reflecting a 3% jump from its previous close of ₹878.10. However, the stock later retraced slightly, trading at ₹888, which is 1% higher than its last closing price.
This surge comes amid growing optimism in India’s renewable energy sector, where energy storage solutions are gaining prominence due to government initiatives and rising demand for sustainable power.
Key Highlights of the Order
The latest EPC contract was awarded by an Independent Power Producer (IPP) and involves the design, installation, and commissioning of a 40MWh battery energy storage system. The project is set for completion in the financial year 2025-26 and is expected to bolster Waaree’s position as a leading renewable energy player.
With India pushing toward a greener economy, battery storage systems are becoming a critical part of renewable energy infrastructure, allowing for the efficient storage and utilization of solar and wind power.
Company Overview: A Leader in Renewable EPC Services
Waaree Renewable Technologies Ltd is a key player in India’s renewable energy EPC sector, providing services for solar projects and battery storage systems. The company finances, constructs, owns, and operates solar energy projects, delivering clean and sustainable power to various industries.
Major Clients & Portfolio
Waaree Renewable boasts an impressive client base, including:
✅ Reliance Industries
✅ Aditya Birla Group
✅ NTPC
✅ Adani Group
The company has successfully commissioned:
🔹 178 rooftop solar projects with a total capacity of 50 MW
🔹 587 MW under Operations & Maintenance (O&M)
🔹 2.29 MW in floating solar projects
Additionally, Waaree Renewable has an in-house Research & Development (R&D) team dedicated to advancing clean energy technology.
Financial Performance & Growth Prospects
Despite securing new projects, the company reported mixed financial results for Q3 FY25:
✔️ Revenue: ₹360 crore (Up 11% YoY)
❌ Net Profit: ₹54 crore (Down 16% YoY)
While revenue growth is steady, the decline in net profit raises concerns about cost pressures or increased project execution expenses. However, with a robust order book and expanding clean energy portfolio, Waaree Renewable is well-positioned for long-term growth.
Financial Ratios & Market Metrics
| Metric | Value |
|---|---|
| Market Cap | ₹9,256.57 Cr |
| Current Price | ₹2,194 |
| 52-Week High / Low | ₹3,743 / ₹2,026 |
| Stock P/E | 63.8 |
| Book Value | ₹169 |
| Dividend Yield | 0.00% |
| ROCE (Return on Capital Employed) | 43.6% |
| ROE (Return on Equity) | 33.4% |
| Debt to Equity Ratio | 0.20 |
| Industry P/E | 49.6 |
| Total Debt | ₹985 Cr |
| PEG Ratio | – |
| Intrinsic Value | ₹1,739 |
| Graham Number | ₹488 |
| Piotroski Score | 9.00 |
| ROIC (Return on Invested Capital) | 26.2% |
What Lies Ahead?
The new ₹40 crore EPC project further strengthens Waaree Renewable’s order pipeline. With India’s renewable energy sector expanding rapidly, battery storage solutions will play a crucial role in stabilizing power grids and ensuring uninterrupted electricity supply.
Despite a decline in net profit, the company’s strong revenue growth and healthy financial ratios indicate solid fundamentals. Investors are closely watching how Waaree Renewable executes this project and its impact on the company’s profitability.
As the world transitions to clean energy, Waaree Renewable Technologies Ltd remains a key player to watch in India’s booming solar and energy storage sector.
🚀 Will this new order propel Waaree Renewable to new highs? Only time will tell! Stay tuned for further updates on this exciting journey.
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Disclaimer: This blog post is for informational purposes only and should not be considered financial advice. Investors should conduct thorough research and consult with a qualified financial advisor before making any investment decisions.