A subsidiary of Waaree Energies, Waaree Renewable Technologies Ltd., has received approval from its board to list its equity shares on the National Stock Exchange (NSE).
According to Waaree Renewable Technologies' regulatory filing on Thursday, the company's board 'considered and approved the listing of its equity shares on National Stock Exchange of India Limited (NSE), subject to regulatory approvals.' The BSE already lists the company's shares.
The 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)' was also approved by the Board using a postal ballot.
Share performance
The share of waaree renewables concluded last trading session, at Rs 1,399.60 per share on the NSE (National Stock Exchange), declined 0.76 per cent amounting to Rs 10.75 per share.
Waaree Renewables Q2 FY25
Compared to Rs 150.06 crore in the previous September quarter, Waaree Renewable Technologies reported a 249.5 per cent increase in operating revenue to Rs 524.47 crore.
In the second quarter of the fiscal year 2024–2025, the net profit increased 160.52 per cent to Rs 53.52 crore from Rs 20.54 crore in the same period last year.
In Q2 of FY25, earnings before interest, taxes, depreciation, and amortisation (EBITDA) were Rs 71.57 crore, up 133.27 per cent year over year (YoY) from Rs 30.68 crore in the same period the previous year.
'We are happy to announce the highest-ever quarterly revenue in the company's history at Rs 524.47 crores with a volume of 528.56 MWp,' said Dilip Panjwani, chief financial officer of Waaree Renewable Technologies, in response to the company's Q2 performance.
'This reflects robust execution capabilities built on the strength of the highly scalable platform.' WRTL keeps making significant investments in technology, which shows in the accomplishment of challenging projects involving floating solar and battery energy storage systems.
One of the major companies in the solar engineering, procurement, and construction (EPC) sector is Waaree Renewable Technologies. As of September 2024, the Waaree Group had installed over 10,000 solar projects, totaling over 1.82 GW of installations.