1:5 Stock Split: Multibagger Power Co Sets Record Date, Rs 6752.90 Share Set To Become Affordable

Waaree Renewable Technologies Ltd shares today hit upper circuit as the company declared March 16, 2024 as the record date for 1:5 split/sub-division of shares after the market hours. Earlier, Waaree Renewable announced a stunning growth of 158% year-on-year (YoY) in its net profit to Rs 64.46 crore for the quarter ended December 31, 2023. It also declared a sharp rise of 338.8% in its revenue to Rs 324.19 crore. Waaree Renewable shares zoomed 207% year-to-date (YTD). Check details below:

Waaree Renewable Technologies Declares Record Date For Stock Split: As per the regulatory filing of the company dated March 5, 2024, "this is to inform you that the Company has fixed Saturday, March 16, 2024 as the "Record Date" for determining entitlement of Equity Shareholders for the purpose of split/ sub-division of existing Equity Shares of the Company, such that 1 (one) equity share having face value of Rs. 10/- (Rupees ten only) each, fully paid-up, will be sub-divided into 5 (five) equity shares having face value of Rs. 2/- (Rupee two only) each, fully paidup, ranking pari-passu in all respects which was approved by the Equity Shareholders through Postal Ballot on March 01, 2024 as already intimated to the Stock Exchange vide our letter dated March 02, 2024."

Waaree Renewable Technologies Shares Performance & Return: Last trading price of Waaree Renewable Technologies shares on BSE is Rs 6752.90 apiece with intraday gain of 4.97%. The 52-week high price of Waaree Renewable Technologies shares on BSE is Rs 6755.00 apiece and 52-week low price is Rs 600.50 apiece, respectively. The company has a market capitalisation of Rs 14,066.19 crore. Waaree Renewable Technologies stock gained surged 424% in last 6-months, gained 964% in last 1-year, and surged 2057% in last 2-years. In last 3-years, the stock witnessed unbelievable rally of 17061% and 50,942% rise in last 5-years.

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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