Waaree Renewable share: Shares of Waari Renewable Technologies Limited saw a strong rise of up to 7 percent today on January 20. Currently this stock is trading at Rs 1074.75 on BSE with a gain of 2.91 percent. In fact, the company received a Letter of Intent (LOI) from a leading wind energy company. After this news, heavy buying was seen in the company’s shares today. With today’s rise, the market cap of the company increased to Rs 11,203 crore. The stock’s 52-week high is Rs 3037.75 and 52-week low is Rs 530.02.
Details related to LOI
According to reports, this LOI pertains to engineering, procurement and construction (EPC) of a 105 MWp (DC) ground-mount solar power project on turnkey basis, to be completed in FY 2025-26. Waari Renewable Technologies specializes in renewable energy, focusing on the manufacturing of solar panels, inverters and energy storage systems for residential, commercial and industrial clients.
declaration of dividend
Waari Renewables also declared an interim dividend of Rs 1 per equity share of face value Rs 2 each. The company fixed January 24 as the record date to decide the eligibility of shareholders for this.
Waaree Renewable results weak in December quarter
Recently, Waari Renewables reported weak third quarter (Q3FY25) numbers. The company’s consolidated PAT declined by 16 percent on an annual basis, which stood at Rs 53 crore. However, the company’s consolidated revenue increased by 11 percent to Rs 360 crore.
The company said, “EPC segment performed exceptionally well. The company achieved customer revenue of ₹1093.99 crore for a volume of 1024.92 MWp, compared to revenue of ₹580.80 crore for a volume of 473.44 MWp in the same period last year. Apart from this, the company’s EBITDA also saw a decline of 18 percent in the third quarter of FY 2025, which was the lowest in the financial year. Decreased from Rs 87 crore in the third quarter of 2024 to Rs 71 crore.
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