Waaree Energies saw a 3.08 per cent increase in its shares, reaching ₹2,466.50, following the government’s announcement of a new manufacturing mission for renewable energy components and the company’s strong performance in Q3 FY25.
In Q3 FY25, the company reported a 260 per cent year-on-year increase in profit after tax (PAT) to ₹5,068.76 million, with total income more than doubling to ₹35,452.65 million. EBITDA also rose significantly by 257 per cent compared to the same quarter last year.
According to Divyam Mour, Research Analyst at SAMCO Securities, the Budget announcement aimed at boosting domestic production of solar PV cells, electrolysers, and grid-scale batteries is expected to benefit leading solar PV manufacturers like Premier Energies, Waaree Energies, and Adani Enterprises.
Waaree has already started trial production at its 5.4 GW solar cell manufacturing facility and 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 approximately ₹50,000 crore.
CEO Amit Paithankar mentioned that the US market contributes 15-20 per cent to Waaree’s revenue mix. He highlighted the company’s expansion into energy storage systems, green hydrogen, inverters, and renewable infrastructure.
Overall, Waaree Energies is well-positioned to benefit from the government’s new manufacturing mission and continues to show solid growth in its core business areas.
