This high ROE large-cap stock secured a 4.27 MW DC solar power project; company to realise revenue of 897+ MW unexecuted order book
This renewables technology company has Return of Equity of 95 per cent.
Waaree Renewable Technologies, a leading solar EPC company, today announced that it has secured a Letter of Intent (LOI) for the execution of Engineering, Procurement and Construction (EPC) works for a 4.27 MW DC solar power project on a turnkey basis. The order has been secured from a leading integrated glass and window solution company.
The project is expected to be completed within a period of six months. Upon completion, the project will generate approximately 5.5 million units of electricity annually, which will help to offset the client’s carbon footprint and reduce its reliance on fossil fuels.
The company's revenues increased by 29.41 per cent from Rs 215.11 crore in H1FY23 to Rs 279.00 crore in H1FY24. The company's operating profit also increased significantly, by 71.78 per cent from Rs 25.63 crore in H1FY23 to Rs 44.08 crore in H1FY24. The company's PBT increased by 74.91 per cent from Rs 23.41 crore in H1FY23 to Rs 40.31 crore in H1FY24.
The company's unexecuted order book as of date is 897+ MW, which is a significant increase from 670+ MW as of March 31, 2023. The company successfully executed 264.55+ MWp of solar projects in H1FY24, which is a significant increase from 162.11+ MWp in H1FY23. The company generated Rs 5.15 crore of revenue from O&M (operations and maintenance) services in H1FY24, which is a significant increase from Rs 3.21 crore in H1FY23.
The PAT has increased from Rs 8.16 crore in Q2FY23 to Rs. 18.29 crore in Q2FY24, a growth of 124 per cent. The PAT margin has also increased from 6.1 per cent in Q2FY23 to 12.19 per cent in Q2FY24.
Over the past three months, Waaree Renewables Technologies has exhibited a robust performance, showcasing a notable growth of 32.97 per cent. Looking at the broader picture over the past year, the company has demonstrated remarkable resilience and substantial progress, with a significant surge of 169.22 per cent.
About Waaree Renewable Technologies
Waaree Renewable Technologies is a leading solar EPC company with a proven track record of success. The company has a pan-India presence and has executed over 4,000 MW of solar projects across the country. Waaree is committed to providing its clients with world-class solar power solutions that are both cost-effective and sustainable.
Disclaimer: The article is for informational purposes only and not investment advice.
DSIJ's 'Value Pick' service recommends long-term stocks based on Value Investing Philosophy. If this interests you, do download the service details here.
Related articles
-
20,000 per cent returns & 897 MW order book: Board likely to announce stock split; stock trades at high ROE & high ROCE!
-
8,400 per cent returns and 897 MW order book: This multibagger power generation company bags new order worth Rs 183,00,00,000!
-
11,900 per cent returns in just 3 years: This small-cap multibagger company reports stellar Q1FY24 results!
-
13,000 per cent returns in this multibagger stock: This power generation company receives LOA for 100 MWp solar project!
-
Multibagger from its 52-week low: This small-cap company secures an order from a leading steel manufacturing company!
-
Multibagger from its 52-week low: This small-cap company secures multiple orders!
-
Stock below Rs 500: Shares of this company touched upper circuit as it receives multiple orders!
-
2:1 Stock Split & Rs 20,000 crore order book: President of India-backed multibagger aerospace & defence stock hit 52-week high on July 03
-
Rs 1,400 crore order book: Mukul Agrawal’s portfolio multibagger aerospace & defence stock hit upper circuit & 52-week high!
-
Rs 38,561 crore order book: Debt-free multibagger shipbuilding stock hit fresh 52-week high with large volume; Received ‘Navratna’ status from Ministry of Finance
-
1:1 Bonus Share & Rs 3,672 crore order book: Board of this multibagger civil construction company is likely to raise funds via rights issue or QIP
-
Rs 13.50 crore order book & Multibagger in just 1 year; Board announces rights issue worth Rs 4,00,00,000
-
Under Rs 110: Multibagger civil construction stock to keep under the radar with a strong book of Rs 1,200 crore!
-
2:1 stock split & Rs 22,000 crore order book: Multibagger shipbuilding & repair stock hit 52-week high as company bags order worth Rs 1,100 crore from Wilson ASA
-
Rs 166.1 crore order book: Multibagger iron & steel stock at Rs 45; Company bags new order worth Rs 117.17 crore from BHEL & NTPC
-
Rs 5,690 crore order book: This multibagger railway civil construction company bags new order worth Rs 26.97 crore from Karnataka Mining Environment Restoration Corporation
-
Rs 7,102 crore order book: Promoter bought 28,72,340 convertible warrants of multibagger railway wagons company at a 30 per cent discount of CMP
-
Rs 823 crore order book: Multibagger civil construction company incorporates a new subsidiary in State of Miami, Florida, USA – details inside!
-
Rs 22,000 crore order book: This multibagger shipbuilding & repair company bags a new order worth Rs 1,100 crore from Wilson ASA, Norway
-
Heavy buying: Back-to-back upper circuit in this multibagger solar power stock; bags new order for solar power plant worth Rs 4.12 crore!