Waaree Energies Ltd

Waaree Energies has received upgrade and has been assigned the credit rating CARE A+; Stable / CARE A1+ for various bank facilities availed by the company. Powered by Capital Market - Live

Waaree Energies has received an order for supply of solar modules for 410 MWp from a ABREL EPC (a wholly owned subsidiary of Aditya Birla Renewables) engaged in the business of owning, developing and operating renewable power projects in India. Powered by Capital Market - Live

According to an exchange filing, the order involves the supply of 362.5 MWp solar PV modules and the supply of modules is scheduled to commence in FY 2025-26. Meanwhile, the company informed that the officials of the company will hold a physical meeting with a group of investors on Monday, 24 February 2025, at the company's manufacturing plant in Chikhli, Navsari, Gujarat. The discussions will focus on publicly available information, with no unpublished price-sensitive information about the company being disclosed during the meeting. The company also noted that changes may happen due to exigencies on the part of Host / Company. Waaree Energies is the largest manufacturer of solar PV modules in India with the largest aggregate installed capacity of 15 GW for solar PV modules and 5.4GW for solar cells. With presence across India and 25+ countries worldwide, we offer innovative solar solutions, including panel manufacturing, EPC services, project development, and rooftop systems. The company reported 295.65% surge in consolidated net profit to Rs 492.69 crore in Q3 FY25 from Rs 124.53 crore posted in Q3 FY24. Revenue from operations jumped 116.6% year on year (YoY) to Rs 3,457.29 crore in the quarter ended 31 December 2024. Powered by Capital Market - Live

Waaree Energies has received an order for supply of solar modules for 362.5 MWp from a renowned customer engaged in the business of owning, developing and operating renewable power projects in India. Powered by Capital Market - Live

Revenue from operations jumped 116.6% year on year (YoY) to Rs 3,457.29 crore in the quarter ended 31 December 2024. Total income was at Rs 3,545.27 crore in the December 2024 quarter, registering a growth of 114.63% YoY. Profit before tax stood at Rs 689.81 crore in the third quarter of FY 2025, up 275.77% as against Rs 183.58 crore recorded in Q3 FY24. The company's EBITDA soared by 256.97% to Rs 809.71 crore in Q3 FY25 from Rs 226.82 crore recorded in same quarter last year. EBITDA margin improved to 22.84% in Q3 FY25 as against 13.73% recorded in the same quarter last year. Production was at 1.81 GW in Q3 FY25, reflecting a 68% growth YoY, reinstating the company's efficient execution strategy, it stated. As of 31 December 2024, the company's order book stands at 26.5 GW and order book value stands at around Rs 50,000 crore. Amit Paithankar, Whole Time Director & CEO, Waaree Energies said: 'As an energy transition company, we see immense opportunities and are well positioned to tap into new business areas. Our solar business continues to be strong and we are rapidly advancing in the adjacencies of energy storage systems, green hydrogen, inverters and renewable infrastructure. The momentum in this space is stronger than ever, and we are well-positioned to capitalize on it. We continue to build on our strengths, enhancing scalability and internal efficiencies, which has clearly reflected in our 9M FY25 performance. Strong execution and disciplined growth remain at the core of our strategy. The US contributed ~15-20% of our revenue mix. As we expand globally, we are strengthening our presence in high-potential regions, ensuring that we stay ahead of the curve in this fast-evolving industry. We are excited about the road ahead and remain committed to driving meaningful change in the energy landscape. Waaree Energies is the largest manufacturer of solar PV modules in India with the largest aggregate installed capacity of 15 GW for solar PV modules and 5.4GW for solar cells. With presence across India and 25+ countries worldwide, we offer innovative solar solutions, including panel manufacturing, EPC services, project development, and rooftop systems. Powered by Capital Market - Live

Net profit of Waaree Energies rose 295.64% to Rs 492.69 crore in the quarter ended December 2024 as against Rs 124.53 crore during the previous quarter ended December 2023. Sales rose 116.60% to Rs 3457.29 crore in the quarter ended December 2024 as against Rs 1596.18 crore during the previous quarter ended December 2023. ParticularsQuarter EndedDec. 2024Dec. 2023% Var. Sales3457.291596.18 117 OPM %20.8810.73 - PBDT778.86208.37 274 PBT689.81134.47 413 NP492.69124.53 296 Powered by Capital Market - Live

Waaree Energies will hold a meeting of the Board of Directors of the Company on 30 January 2025.Powered by Capital Market - Live

The company said that it has won order from a renowned customer engaged in the business of owning, developing and operating renewable power projects in India. The contract entails supply of 180 MWp solar PV modules, scheduled to commence in FY 2025-26. Waaree Energies is the largest manufacturer of solar PV modules in India, with the largest aggregate installed capacity of 12 GW. Presently, it is engaged in the manufacture of solar photovoltaic modules, the setting up of projects in solar space, and the sale of electricity. The company operated five manufacturing facilities in India spread over an area of 143.01 acres. It operates one factory each located at Surat, Tumb; Nandigram, Chikhli in Gujarat, India; and the IndoSolar Facility in Noida, Uttar Pradesh. The company reported 14.77% increase in consolidated net profit to Rs 361.65 crore on 1.04% rise revenue from operations to Rs 3,574.38 crore in Q2 FY25 over Q2 FY24. The scrip declined 0.36% to Rs 2,626.20 on the BSE. Powered by Capital Market - Live

Enel Green Power Development S.r.l. is one of Europe's largest renewable energy companies, owns Enel Green Power India (EGPIPL), which operates a portfolio of solar and wind energy projects across India. The portfolio includes approximately 640 MWAC / 760 MWDC of operational capacity, with additional projects under development. EGPIPL's operational projects also include those jointly owned with partners, where the majority equity stake lies with the company. The company said that this acquisition will help to diversify its revenue streams, enhance execution capabilities for wind projects and facilitate expedited growth of Waaree's IPP business. The transaction is subject to customary approvals, including from lenders and it is expected to be completed within three months, pending the fulfilment of conditions outlined in the definitive agreements. The total cost of the acquisition is Rs 792 crore, subject to closing adjustments. Waaree Energies is the largest manufacturer of solar PV modules in India, with the largest aggregate installed capacity of 12 GW. Presently, it is engaged in the manufacture of solar photovoltaic modules, the setting up of projects in solar space, and the sale of electricity. The company operated five manufacturing facilities in India spread over an area of 143.01 acres. It operates one factory each located at Surat, Tumb; Nandigram, Chikhli in Gujarat, India; and the IndoSolar Facility in Noida, Uttar Pradesh. The company reported 14.77% increase in consolidated net profit to Rs 361.65 crore in Q2 FY25 as against Rs 315.09 crore posted in Q2 FY24. Revenue from operations rose 1.04% year on year (YoY) to Rs 3,574.38 crore in the quarter ended 30 September 2024. Powered by Capital Market - Live

Enel Green Power Development S.r.l. is one of Europe's largest renewable energy companies, owns EGPIPL, which operates a portfolio of solar and wind energy projects across India. The portfolio includes approximately 640 MWAC / 760 MWDC of operational capacity, with additional projects under development. EGPIPL's operational projects also include those jointly owned with partners, where the majority equity stake lies with the company. The company said that this acquisition will help to diversify its revenue streams, enhance execution capabilities for wind projects and facilitate expedited growth of Waaree's IPP business. The transaction is subject to customary approvals, including from lenders and it is expected to be completed within three months, pending the fulfilment of conditions outlined in the definitive agreements. The total cost of the acquisition is Rs 792 crore, subject to closing adjustments. Waaree Energies is the largest manufacturer of solar PV modules in India, with the largest aggregate installed capacity of 12 GW. Presently, it is engaged in the manufacture of solar photovoltaic modules, the setting up of projects in solar space, and the sale of electricity. The company operated five manufacturing facilities in India spread over an area of 143.01 acres. It operates one factory each located at Surat, Tumb; Nandigram, Chikhli in Gujarat, India; and the IndoSolar Facility in Noida, Uttar Pradesh. The company reported 14.77% increase in consolidated net profit to Rs 361.65 crore in Q2 FY25 as against Rs 315.09 crore posted in Q2 FY24. Revenue from operations rose 1.04% year on year (YoY) to Rs 3,574.38 crore in the quarter ended 30 September 2024. The counter slipped 1.26% to settle at Rs 2,566.40 on 10 January 2024. Powered by Capital Market - Live