Waaree Energies Shares In Focus After Best-Ever Quarterly Performance
Waaree Energies Ltd. shares will be in focus on Friday after reporting its best-ever quarterly performance with a significant surge in revenue and profit. The company’s consolidated net profit more than doubled to Rs 843 crore in the June-September period, while revenue from operations increased by 69.7% year-on-year to Rs 6,066 crore.
Key Highlights of Waaree Energies’ Q2 Results
- Consolidated net profit: Rs 843 crore (up from Rs 362 crore in Q2 FY23)
- Revenue from operations: Rs 6,066 crore (up 69.7% year-on-year)
- Operating income (Ebitda): Rs 1,406 crore (nearly tripled from Rs 525 crore in Q2 FY23)
- Margin expansion: 23.2% (up from 14.7% in Q2 FY23)
The management reaffirmed its FY26 Ebitda guidance of Rs 5,500-6,000 crore. However, the outcome of a US Customs probe into alleged evasion of anti-dumping and countervailing duties on solar cells from China and other Southeast Asian nations is uncertain, and the impact on financials has not yet been accounted for, the company said.
Waaree Energies’ Dividend Announcement
Waaree Energies announced its first dividend of Rs 2 per equity share for the fiscal 2026. The company will shell out nearly Rs 57.53 crore to shareholders. The board has fixed Oct. 24 as the record date to determine the eligibility of shareholders, and the interim dividend will be paid on Nov. 6.
Mumbai-headquartered Waaree Energies is the country’s largest solar module manufacturer, with an aggregate installed capacity of 13.3 GW as of June 30, 2024. The company’s quarterly earnings were shared after market hours, and the stock settled 3.10% higher at Rs 3,627.40 apiece on the NSE, compared to a 1.03% advance in the benchmark Nifty 50.
Waaree Energies’ Stock Performance
Waaree Energies shares have risen 27.07% year-to-date and 55% since its listing in October last year. Out of nine analysts tracking the company, six maintain a ‘buy’ rating and three suggest ‘sell’, according to Bloomberg data. The average 12-month consensus price target of Rs 3,561 implies a downside of 1.8%.
For investors looking to invest in the Indian stock market, it’s essential to stay updated with the latest Nifty news and Sensex updates. Waaree Energies’ strong Q2 performance is a positive sign for investors, but it’s crucial to consider the US Customs probe and its potential impact on the company’s financials.
Investment Strategies for Indian Investors
Indian investors can consider investing in solar energy stocks like Waaree Energies, given the growing demand for renewable energy in the country. However, it’s essential to conduct thorough research and analysis before making any investment decisions. Investors can also consider dividend investing strategies, as Waaree Energies’ dividend announcement indicates a positive sign for investors.
In conclusion, Waaree Energies’ best-ever quarterly performance is a significant development for investors in the Indian stock market. With the company’s strong revenue growth, margin expansion, and dividend announcement, it’s an attractive opportunity for investors to consider. However, it’s crucial to stay updated with the latest news and developments in the Indian stock market to make informed investment decisions.
