From ₹1,809 to ₹2,855: Waaree Energies shares surge 58% in just 9 sessions; here’s why

Shares of solar battery manufacturer Waaree Energies have maintained uptrend for nine consecutive sessions, with the renewable stock rebounding nearly 58% from its 52-week low of ₹1,808.65 touched on April 7, 2025. On Wednesday, the Waaree Energies shares added another 9% after the solar PV module manufacturer reported strong earnings for the fourth quarter ended March 31, 2025. Investors remained bullish on the stock amid improvement in its business and financial performance, strong track record in production and sale of solar modules, and enhanced demand outlook for the sector.

Extending its gaining streak, Waaree Energies shares opened 8.5% higher at ₹2,835, after ending 6.9% higher in the previous session. The largecap stock gained as much as 9.3% to ₹2,855 level in the first two hours of trade so far.

At the current level, Waaree Energies shares, which made its market debut on October 28, 2024, trade 90% higher than its IPO price of ₹1,503 on the BSE. The stock is down nearly 24% from its 52-week high of ₹3,740.75 touched on November 6, 2024. The counter has risen 23% in the last six months, while it rallied 18.5% in a month.

Waaree Energies Q4 profit jumps 34%

For the January-March quarter of FY25, Waaree Energies reported 34.10% surge in consolidated net profit to ₹618.91 crore as compared to ₹461.52 crore in Q4 FY24. Revenue from operations jumped 36.4% to ₹4,003.9 crore as against ₹2,935.8 crore in the corresponding period of the preceding fiscal.

At the operating front, EBITDA jumped 120.6% to ₹922.6 crore in Q4 FY25, from ₹418.3 crore in the same period in the previous fiscal. The EBITDA margin stood at 23% as compared to 14.3% in the year ago period.

For the full financial year 2024-25, profit zoomed 254.5% YoY to ₹648.49 crore, while revenue stood at ₹14,846.06 crore, reporting a growth of 27.62% YoY. During the fiscal, the company produced 7.13 giga watt (GW) versus 4.77 GW for FY24.

As of March 31, 2025, the company’s order book stood at 25 GW, valued at around ₹47,000 crore. During the quarter under review, the board of the company approved establishment of an additional 1.6 GW module manufacturing line at its facility in Brookshire, Texas, USA. Besides, it also gave nod FOR Setting up additional module manufacturing lines with a capacity of 3.2 GW at the Chikhli plant located in Maharashtra.

Going ahead, Waaree Energies’ EBITDA outlook for FY26 has been pegged betwen ₹5,500-6,000 crore. “The quality of our order book and execution capabilities will enable us to achieve these numbers,” said Amit Paithankar, Whole Time Director & CEO, Waaree Energies.

“FY25 marks a pivotal inflection point in Waaree’s journey- a year where our strategy, scale, and execution converged to deliver industry-leading EBITDA performance of Rs. 3,123.20 crore. This performance underscores the strength of our execution capabilities and the quality of order book, with centred focus on margins,” he said. 

Waaree Energies CEO sees encouraging demand trends, which bodes well for future growth. “Waaree is focused on both backward and forward integration, reflected in our expansion and investment plans including cell, ingot and wafer manufacturing, battery energy storage system, power infrastructure and inverters,” he added.

Headquartered in Mumbai, the company operates state-of-the-art manufacturing facilities with an installed capacity of around 15 GW for solar PV modules and 5.4 GW for solar cells.

(DISCLAIMER: The views and opinions expressed by investment experts on fortuneindia.com are either their own or of their organisations, but not necessarily that of fortuneindia.com and its editorial team. Readers are advised to consult certified experts before taking investment decisions.)