Waaree Energies Stock Jumps 14% On Strong Q3 Results; CEO Highlights Rs 50,000 Crore Order Book
India's share in Waaree Energies' large order book is 45%, CEO Amit Paithankar said.
Waaree Energies Ltd. share price jumped 14% during early trade on Friday after the company reported an impressive third quarter earnings and the manangment announced a Rs 50,000 crore order book.
"Strong execution is what lead to order book realisations. 45% of current order book is coming from India," Chief Executive Officer Amit Paithankar told NDTV Profit.
He said the gestation period of order varies from one month for retail order to 18-24 months for export orders, while the average order book gestation period is 9-12 months.
Waaree Energies reported nearly a fourfold jump in its net profit for the third quarter of financial year 2025. India's largest solar panel manufacturer's net profit rose 294% year-on-year to Rs 493 crore in the third quarter. Revenue rose 116% to Rs 3,457 crore.
The results arrived after market close on Thursday.
Paithankar said the US business contributed 15–20% to revenues in the nine months of the current fiscal and the order pipeline remains strong.
"Because of the gestation period, our sales profile does no mimic our order profile. In sales, 18–20% comes from US and the rest largely from India. So we have many levers to play with on profitability," he said.
Shares surged 14% to Rs 2,505.5 apiece, soon after market open, compared to a 0.4% gain in the benchmark Nifty 50. The relative strength was 47.
The total traded volume stood at 8.4 times its 30-day average.
The stock has rise 1.67% since listing in late October.
