Waaree Energies share price plummets despite bagging 600 MWp solar PV modules order: 3 key reasons

The supply of solar photovoltaic modules is scheduled to commence in the financial year 2025-2026 (FY26).

Waaree Energies IPO listed at ₹2,550 per share (a 69.66% premium) against the issue price of ₹1,503.

It had hit a record high of ₹3,743 a unit on November 6. Since then, it has dropped 32.57%.

Waaree Energies share price: Why is the stock falling? 3 probable reasons

• United States President-elect Donald Trump, in his victory speech, said that, on his "day one" in office, he would stop renewable projects.
• Waaree Energies reported muted Q2 results.
• Anchor investor lock-in period (50% shares) has ended on November 23, 2024.

Waaree Energies Q2 FY25 results

Waaree Energies reported a nearly 15% increase in its consolidated post-tax profit to ₹361.6 crore in the July-September quarter of the financial year 2024-25 compared to ₹315 crore in the year-ago period.

Revenue from operations climbed 1% to ₹3,574.3 crore in the quarter under review against ₹3,537.2 crore a year back.

The total income increased 2.9% year-on-year (YoY) to ₹3,663.4 crore in the second quarter of the current fiscal year.

The company also approved an investment of ₹600 crore to set up and develop infrastructure, including land and connectivity, to support the development of renewable power projects and the bidding pipeline.

Waaree Energies is a leading solar energy player in India that focuses on manufacturing PV modules. The company, with a presence in over 25 nations, offer renewable energy solutions like panel manufacturing, project development, rooftop system and EPC services.