Title: Waaree Jumps 5% on ₹2,754 Cr Capex, 93% Q1 Profit Surge
Waaree Energies, a leading solar energy solutions provider, has reported impressive first-quarter results, sending its stock soaring 5.2% to ₹3,274. The company’s strong financial performance and significant capital expenditure announcement have instilled confidence in investors, driving the stock price upwards.
In its latest quarterly results, Waaree Energies reported a 29.8% year-over-year (YoY) increase in revenue to ₹4,426 crore, while net profit jumped 92.8% to ₹773 crore. The company’s robust financial performance was driven by strong demand and a robust order book of 25 GW.
Waaree Energies’ management highlighted that the company has been experiencing significant growth in recent times, driven by increased adoption of solar energy solutions. The company’s order book has grown substantially, providing a strong pipeline of future revenue. The management has guided that the growth outlook remains positive, with continued expansion plans in the pipeline.
One of the key factors contributing to Waaree Energies’ impressive financial performance is its focus on capital expenditure. The company has announced a significant ₹2,754 crore capex plan, which will enable it to scale up its operations and increase production capacity. This capex plan is expected to have a positive impact on the company’s financials in the coming quarters.
Waaree Energies’ strong financial performance and robust order book have also led to an increase in the company’s working capital requirement. The company has reported a significant increase in its working capital requirement, which is expected to be funded through a combination of debt and equity.
The company’s strong financial performance and growth prospects have also led to an increase in its credit rating. Waaree Energies has been upgraded to ‘A-‘ rating by rating agency ICRA, reflecting the company’s strong financial fundamentals and growth prospects.
Waaree Energies’ impressive financial performance and growth prospects have made it an attractive investment opportunity for investors. The company’s stock has surged 5.2% to ₹3,274, driven by strong demand and a robust order book. The company’s growth outlook remains positive, with continued expansion plans in the pipeline.
In conclusion, Waaree Energies has reported impressive first-quarter results, driven by strong demand and a robust order book. The company’s focus on capital expenditure and growth prospects have instilled confidence in investors, driving the stock price upwards. With a robust order book and continued expansion plans, Waaree Energies’ growth outlook remains positive, making it an attractive investment opportunity for investors.
