Waaree surges on Budget push, strong Q3 results
Waaree Energies’ shares jumped 3.08 per cent to ₹2,466.50 following the government’s announcement of a new manufacturing mission for renewable energy components and the company’s robust Q3 FY25 performance.
The company reported a 260 per cent year-on-year increase in profit after tax (PAT) to ₹5,068.76 million for Q3 FY25, while its total income more than doubled to ₹35,452.65 million. EBITDA rose a significant 257 per cent compared to the same quarter last year.
“The initiative is expected to be a game-changer for leading solar PV manufacturers such as Premier Energies, Waaree Energies, and Adani Enterprises,” said Divyam Mour, Research Analyst at SAMCO Securities, commenting on the Budget announcement aimed at boosting domestic production of solar PV cells, electrolysers, and grid-scale batteries.
Waaree has commenced trial production at its 5.4 GW solar cell manufacturing facility and started commercial production at its 1.6 GW solar module line in the USA. The company currently holds an orderbook of 26.5 GW valued at approximately ₹50,000 crore.
The US market contributed 15-20 per cent to Waaree’s revenue mix, according to CEO Amit Paithankar, who emphasised the company’s expansion into energy storage systems, green hydrogen, inverters, and renewable infrastructure.
