Waaree Renewable Technologies board greenlights share listing on NSE

2 min read | Updated on December 19, 2024, 16:32 IST

SUMMARY

Waaree Renewable Technologies share price declined 0.46% to ₹1,403.85 apiece on the BSE after the announcement. Its market capitalisation stands at ₹14,634 crore.

Waaree Renewable Technologies shares are already listed on the BSE.

Waaree Renewable Technologies share price: The Board of Waaree Renewable Technologies Ltd, a subsidiary of Waaree Energies, has given the green light for the listing of its equity shares on the National Stock Exchange (NSE).

In a regulatory filing on Thursday, Waaree Renewable Technologies said its board "considered and approved the listing of its equity shares on National Stock Exchange of India Limited (NSE) subject to regulatory approvals."

The company's shares are already listed on the BSE.

The Board also approved the postal ballot notice to seek shareholders' approval for "related party transactions with Waaree Forever Energies Private Limited, which is a subsidiary of Waaree Energies Limited (Parent Company)."

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Waaree Renewable Technologies share price

Following the development, the stock settled 0.76% lower to ₹1,399.6 apiece on the BSE.

Its market capitalisation stands at ₹14,590.35 crore.

Waaree Renewable Technologies Q2 results

Waaree Renewable Technologies posted a 249.5% surge in its revenue from operations to ₹524.47 crore in the latest September quarter, compared to ₹150.06 crore a year ago.

The net profit jumped 160.52% to ₹53.52 crore in the second quarter of the financial year 2024-25 against ₹20.54 crore in the year-ago period.

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Earnings before interest, taxes, depreciation, and amortisation (EBITDA) for Q2 FY25 stood at ₹71.57 crore, compared to ₹30.68 crore in the corresponding period last year, representing a 133.27% growth year-on-year (YoY).

Commenting on the Q2 performance, Dilip Panjwani, the chief financial officer of Waaree Renewable Technologies, said, "We are pleased to announce the highest-ever quarterly revenue in the company’s history at ₹524.47 crores with a volume of 528.56 MWp which reflects robust execution capabilities build on the strength of the highly scalable platform. WRTL continues to invest strongly in technology reflecting in successful execution of complex projects in Floating Solar and Battery Energy Storage Systems."

Waaree Renewable Technologies is a key player in the solar engineering, procurement, and construction (EPC) business. Waaree Group has installed 10,000+ solar projects, with a cumulative installation of more than 1.82 GW, as of September 2024.

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Waaree Renewable Technologies board greenlights share listing on NSE

Waaree Renewable Technologies share price

Waaree Renewable Technologies Q2 results

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Waaree Renewable Technologies board greenlights share listing on NSE

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