Waaree Energies Ltd News Today

The order, which involves supplying 599 MW of solar modules, came from a major player in the American utility-scale solar and energy storage space.

The structure of the offer ensures that 10% of the total offer is reserved for retail investors, while 25% is earmarked for mutual funds and insurance companies.

The project involves 300 MW (AC) / 435 MW (DC) capacity.

The company expects to complete the supply of 586 MW solar modules to begin from the financial year 2027.

At around 12.44 PM, Waaree Energies was trading 0.73% lower at ₹2,927 per piece, against the previous close of ₹2,948.40 on NSE.

The company's net profit increased 34.1% year-over-year to ₹618.9 crore from ₹461.5 crore in the corresponding quarter last year.

EBITDA for the quarter was ₹122.4 crore, up 62.8% year-on-year, even as EBITDA margins fell marginally to 25.7%, from 27.5% in Q4 FY24

The gigafactory is expected to add 9,500 direct jobs and about 30,000 related jobs.

It is classified as a one-off order for renewable energy projects in India. The solar modules will be delivered between FY 2025-26.

Here are some of the stocks that may see significant price movement today: Bharat Forge, Sundaram Clayton, Waaree Energies, etc.