1:5 Stock Split: Waaree Group Co Reports 158% Surge In Net, Share Up 494% In 1-Yr

Waaree Renewable Technologies Ltd shares witnessed a rally of 5.00% in trade on Saturday after the company declared a surge of 158% year-on-year (YoY) in its net profit to Rs 64.46 crore for the quarter ended December, as per the BSE filing of
the company.

The company reported a sharp jump of 338.8% in its revenue to Rs 324.19 crore. Waaree Renewable shares offered a strong gain of 494% in last 1-year and rallied 14,184% in last 3-years. Last trading price of the Waaree Renewable on BSE is Rs 2865.55 apiece. The company today also approved split/sub-division of shares in the proportion of 1:5. Check details below:

Waaree Renewable Approves Sub-Division/Stock Split: As per the BSE filing of the company dated January 20, 2024, "Approved the sub-division/ split of existing 1 (One) Equity Share of face value of Rs. 10/- (Rupees Ten Only) each fully paid up into 5 (Five) Equity Shares of face value of Rs. 2/- (Rupees Two) each fully paid up, subject to shareholders approval."

The company has yet to fix record date for sub-division of shares.

Waaree Renewable Stock Performance & Return: The 52-week high price of Waaree Renewable shares on BSE is Rs 2870.00 apiece and 52-week low price is Rs 470.00 apiece, respectively. The company has a market capitalisation of Rs 5,968.90 crore. Waaree Renewable shares offered attractive returns over the years. The scrip offered shareholders return of 74% in last 1-month, gained 110% in last 6-months, offered return of 700% in last 2-years. In last 5-years, Waaree Renewable shares surged 16,608%.

Waaree Renewable Financials: The company's solar engineering, procurement, and construction businesses witnessed a surge in revenue of more than 400% to Rs 319 crore as income from power sales nearly doubled to Rs 52.9 crore. "With a sound balance sheet, substantial net cash reserves, and a disciplined working capital cycle, we are well equipped to undertake lucrative projects that yield higher returns," said Chief Financial Officer Dilip Panjwani.

The company announced its EBITDA for Q3 FY24 surged 145.37% YoY at Rs 87.82 crore.

Waaree Renewable About: Waaree Renewables Technology Limited (WRTL) is a subsidiary company of Waaree Group and spearheading the Solar EPC business. Waaree Group has successfully installed 10000+ solar projects, with a total operating capacity of 600+ MW. It is also a solar developer that finances, constructs, owns, and operates solar projects. Headquartered in Mumbai, it operates across geographies, focusing on long-term investments within the commercial and industrial customer segments. This subsidiary was formed to tap into the growing renewable energy market, according to its official website.

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