Shares of Waaree Renewable Technologies Ltd. surged in early trade on Thursday, boosted by solid final quarter financials.
The company reported an 83% jump in net profit, while revenue from operations rose 74% in the quarter ended March.
Earnings were aided by 76% higher EPC sales on an annual basis. The order book was up 38% on an annual basis at over 3.2 GW, as per an exchange filing on Wednesday.
The company's unexecuted order book grew 38% yearly to 3,263 MW as compared to the previous 2,365 MW, while total debt and cash and cash equivalents stood at Rs 27.37 crore and Rs 26.8 crore, respectively.
During the meet, the board of directors of the company approved some important appointments on Wednesday. These include the approval of Manmohan Sharma as the chief financial officer. It also cleared the appointment of Sudhir Arya as an additional director of the company.
The designation of Sunil Rathi, who was a non-executive director, was changed to executive director. It also accepted the resignation of Mitul Mehta as an independent director.
Waaree Renewable Tech Q4 FY25 Highlights (Consolidated, YoY)
Revenue up 74% to Rs 476.6 crore.
Net profit rose 83% to Rs 93.8 crore.
Ebitda was up 68% to Rs 126.4 crore.
Ebitda margin contracted 110 basis points to 26.5% from 27.6%.
Waaree Renewables Share Price Today
The scrip opened at a 8.14% high at Rs 1,110.35 apiece. This compares to a 0.28% decline in the NSE Nifty 50.
The share price of the company has fallen 19.75% on a year-to-date basis and 17.51% in the past 12 months.
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