Waaree Energies Ltd saw a 10.62% surge in its shares on the NSE today following the announcement of its strong third-quarter results. The company reported a 260% year-on-year increase in profit after tax at ₹506.88 crore for Q3 FY25.
Total income more than doubled to ₹3,545.27 crore in Q3 FY25, compared to ₹1,651.77 crore in the same quarter last year. EBITDA grew by 257% to ₹809.71 crore, with margins expanding to 22.84%.
Waaree recently started trial production at its 5.4 GW solar cell manufacturing facility and commenced commercial production at its 1.6 GW solar module line in the USA. The company currently has an orderbook of 26.5 GW valued at about ₹50,000 crore.
Diversifying into adjacent businesses, Waaree is planning investments in electrolyser manufacturing (₹751 crore), lithium-ion storage cell manufacturing (₹2,723 crore), and inverter business (₹130 crore). The US market contributed 15-20% to the company’s revenue mix during the quarter.
Waaree operates manufacturing facilities with an installed capacity of approximately 15 GW for solar PV modules and 5.4 GW for solar cells, serving customers across India and more than 25 countries worldwide.
