3,398 MWp Order Book & 42,500 Per cent Returns: This Multibagger Solar Renewable Technology Company Receives LOA for Rs 232.30 Crore Solar Project from Waaree Energies Ltd.

The stock has delivered a 1-year return of -37.26 per cent and a 3-year multibagger return of 1474.09 per cent, while in 5-year it has given whooping 45,500 per  cent returns in last 5 years.

Waaree Renewable Technologies Limited, a subsidiary of Waaree Energies Limited, has received a Letter of Award for a significant Engineering, Procurement, and Construction (EPC) project. The contract involves the development of a ground-mounted solar power project with a capacity of 170 MW AC/255 MW DC, including operation and maintenance on a turnkey basis. This domestic order, valued at approximately Rs 232.30 crore, is scheduled for completion in the financial year 2025-26. The order was awarded by Waaree Energies Limited, a promoter entity, and is classified as a related party transaction conducted at arm's length. This development highlights Waaree Renewable Technologies Limited's ongoing commitment to expanding its solar power project portfolio and strengthening its position in the renewable energy sector.

Waaree Renewables Technologies Ltd, incorporated in 1999, is a key player in the renewable energy sector, focusing on power generation through renewable sources and offering consultancy services. As part of the Waaree Group, the company leads the Solar EPC business, providing comprehensive solutions from financing to operating solar projects. It boasts India's largest solar panel manufacturing capacity of 12 GW across its Gujarat plants. The company has executed over 10,000 solar projects, with a cumulative installation exceeding 1.9 GW. In FY24, it achieved a 138 per cent year-on-year growth in project execution, completing 704 MWp, and a 150 per cent increase in revenue.

The company maintains a robust order book of 3398 MWp, and the un-executed order book stands at a 3.4 GW peak, with a 319 MW peak executed in Q3 FY25. Waaree Renewables also exports to over 68 countries and plans to expand its cell capacity by 5.4 GW by FY25. The company is actively pursuing EPC and O&M opportunities both domestically and internationally, aiming to execute projects between 1.8 to 2 GW in FY25, potentially doubling its revenue to Rs 2,500 to 2,800 crore.

As of March 25, 2025, the stock price of Waaree Renewable Technologies Limited is Rs 922.1. The 52-Week High is Rs 2990.4, and the 52-Week Low is Rs 763.35. Waaree Renewable Technologies Limited has a market capitalisation of Rs 9,898 crore. The stock has delivered a 1-year return of -37.26 per cent and a 3-year multibagger return of 1474.09 per cent, while in 5-year it has given whooping 45,500 per  cent returns in last 5 years. The major public shareholder is Hitesh P Mehta, holding 1.06 per cent of the shares.

In the Quarterly Results of December 2024, the company reported a revenue of Rs 360.25 crore, reflecting a YoY growth of 11.15 per cent compared to Rs 324.11 crore in December 2023. The operating profit stood at Rs 71.87 crore, marking a decline of 18.08 per cent from Rs 87.73 crore in the same quarter last year. The profit after tax (PAT) decreased by 16.71 per cent to Rs 53.55 crore from Rs 64.29 crore in December 2023.

In FY24, the company posted a revenue of Rs 867.36 crore, registering a 153.81 per cent growth compared to Rs 341.73 crore in FY23. The net profit for the year stood at Rs 148.94 crore, up 150.70 per cent from Rs 59.41 crore in the previous financial year.

With a PE ratio of 51.4, the company trades at fair valuations compared to the industry PE of 51.4. The company has ROCE of 107 per cent and ROE of 80.34 per cent.

Investors must keep this Small-Cap stock on their radar.

Disclaimer: The article is for informational purposes only and not investment advice.