The shares of the main photo voltaic module producer plummeted by 6 % regardless of reporting strong This autumn outcomes, as Jefferies has downgraded to underperform.
Worth motion
With a market capitalization of Rs 82,336.80 crore, the shares of Waaree Energies Ltd have been buying and selling at Rs 2,856.25 per share, reducing round 5 % as in comparison with the earlier closing worth of Rs 3,006.15 apiece.
Brokerage Suggestions
Jefferies, one of many well-known brokerage globally, downgraded this photo voltaic module producer to ‘underperform’ from its earlier ranking of ‘Maintain’ with a goal worth of Rs 2,100 apiece, indicating a possible draw back of 26 % from Thursday’s worth of Rs 2,856.25 per share.
Brokerage Rational
International brokerage notes Waaree Energies’ orderbook declined to 25 GW from 26.5 GW sequentially, with 57 % from abroad, primarily the US. Nonetheless, administration sees abroad contributing simply 17–22 % of FY26 income, highlighting rising US affect on FY27 efficiency. In the meantime, Waaree’s six-month shareholder lock-in interval ends tomorrow, April 25.
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Monetary Outcome
In This autumn FY25, the corporate posted income of Rs 4,140.92 crore, up 37 % year-on-year from Rs 3,007.44 crore and 17 % quarter-on-quarter from Rs 3,545.27 crore in Q3 FY25, reflecting constant enterprise development and robust operational momentum throughout successive quarters.
Internet revenue rose 36 % year-on-year to Rs 644.47 crore, up from Rs 475.16 crore in the identical quarter final 12 months. On a sequential foundation, it elevated 27 % from Rs 506.88 crore in Q3 FY25, reflecting robust earnings momentum and constant quarterly development.
Order E book
Waaree Energies has a 25 GW order e book and leads with a 14.1 % share in India’s module shipments. Abroad share rose to 57 % of the Rs 47,000 crore order e book in FY26 Q1. Sturdy coverage assist, surging demand, and deal with home manufacturing underpin India’s photo voltaic capability development past 105 GW.
Future Steering
Waaree Energies is scaling its vitality transition investments with a 5.4 GW cell line operational and a 6 GW ingot-wafer facility deliberate for 2027. Initiatives embrace inexperienced hydrogen, battery storage, and renewable energy infrastructure. The ENEL acquisition is underway. FY26 EBITDA is guided between Rs 5,500 and Rs 6,000 crore.
Firm profile
Waaree Energies Restricted product portfolio consists of numerous kinds of PV modules, resembling multicrystalline, monocrystalline, and TopCon modules, which embrace versatile, bifacial (Mono PERC), each framed and unframed, in addition to building-integrated photovoltaic (BIPV) modules.
Written by Abhishek Singh
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