Waaree Renewable Technologies shares rise 10% as second-quarter profits more than double

Shares of Waaree Renewable Technologies rose as much as 10% to a day’s high of Rs 1,244 per share on the NSE on Monday, October 13, after the solar company reported that its consolidated net profit more than doubled in the September quarter, boosted by higher revenues and strong project execution. The stock is now trading close to its 52-week high of Rs 1,272.

The company’s consolidated net profit rose to Rs 116.34 crore in the quarter ended September 30, 2025, from Rs 53.51 crore a year earlier, according to the filing with the BSE. Waaree Renewable said it achieved its “highest-ever quarterly revenue and PAT (net profit), driven by robust execution, strong sector tailwinds and continued expansion into new vertical energy markets, including Battery Energy Storage Systems and data centers.”

Record turnover and order book

Revenue during the quarter rose to Rs 2,774.78 crore, compared to Rs 524.47 crore in the same period last year, reflecting a 47.73% year-on-year growth. The company’s unexecuted order book stands at 3.48 GWp and is expected to be fulfilled in the next 12 to 15 months. The bidding pipeline remains “robust at 27+ GWp,” the company said.

The board also approved an investment plan for new projects, including 28 MWp IPP solar power plants (14 MWp each) at two locations in Maharashtra and a 37.5 MWp IPP solar power plant in Bikaner, Rajasthan.

Increasing the clean energy footprint

Waaree Renewable, a subsidiary of Waaree Energies Ltd, finances, builds, owns and operates solar projects in various geographies for commercial and industrial customers. The company said it continues to support India’s transition to sustainable energy while diversifying into newer segments such as storage and data center infrastructure.

Stock performance and technical indicators

Waaree Renewable shares closed 8.8% higher at Rs 1,234 on the BSE on Friday. The stock is down 19.5% so far in 2025 and 32% over the past year.

From a technical perspective, the stock is trading above all eight of its major simple moving averages, the 5-day, 10-day, 20-day, 30-day, 50-day, 100-day, 150-day, and 200-day, indicating bullish momentum across time frames.

The Relative Strength Index (RSI) is at 65.4, indicating that the stock is neither overbought nor oversold, while the Moving Average Convergence Divergence (MACD) is at 8.7 and remains above both the center and signal lines, underscoring the continued positive undertone.

Also read | TCS and Tata Motors plummet to 42% from peak, wiping out more than Rs 4 lakh crore of Tata shares by 2025 amid boardroom turmoil

Disclaimer: Recommendations, suggestions, views and opinions expressed by the experts are their own. These do not represent the views of the Economic Times)