Waaree Renewable Technologies Share Price Crashes 11% To Fresh 52-Week Low After Q2 Profit Falls 30%
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Waaree Renewable Technologies shares came under heavy selling pressure after its September-quarter earnings showed weaker profitability despite higher revenue. The stock fell to its lowest level in a year during Wednesday's session.
Waaree Renewable Technologies shares crashed more than 11% on Wednesday, October 21, hitting a fresh 52-week low as investors reacted to the company's Q2 FY27 results, which showed a sharp fall in profit despite strong revenue growth.
At around 2:30 pm, Waaree Renewable Technologies shares were trading 10.56% lower at ₹733.80. The stock fell to an intraday low of ₹722, which also marked a fresh 52-week low. It had closed at ₹826.20 in the previous session.
The renewable energy stock opened at ₹760 and remained under selling pressure through the session.
The decline came after the company reported a 29.98% year-on-year fall in consolidated net profit to ₹81.48 crore for the September quarter. Profit stood at ₹116.36 crore in the corresponding quarter last year.
Revenue from operations, however, increased 36.53% YoY to ₹1,057.84 crore from ₹774.78 crore.
Waaree Renewable Technologies Q2 Results FY27
Waaree Renewable Technologies reported total income of ₹1,067.02 crore in Q2 FY27, up 36.94% from ₹779.21 crore in the year-ago period.
Profit before tax declined 32.71% YoY to ₹105.36 crore from ₹156.58 crore. On a sequential basis, PBT fell 35.51% from ₹163.38 crore in the June quarter.
Higher expenses weighed on profitability during the quarter. Total expenses increased to ₹961.66 crore from ₹622.63 crore in the same period last year.
The company said acquisition-related financing costs and the addition of businesses with a different margin profile affected near-term profitability.
Revenue from operations was also 14.45% higher sequentially from ₹924.25 crore reported in Q1 FY27.
For the first half of FY27, revenue from operations stood at ₹1,982.09 crore, up 43.84% from ₹1,377.97 crore in the corresponding period last year.
Waaree Renewable Technologies had a consolidated unexecuted order book of more than ₹5,500 crore. Its bidding pipeline included more than 34.6 GWp of solar projects, over 12.5 GWh of battery energy storage systems and more than ₹21,900 crore of transmission and distribution opportunities.
Waaree Renewable Technologies Share Price Hits 52-Week Low
Wednesday's sell-off pushed Waaree Renewable Technologies shares to a fresh 52-week low of ₹722. The stock has fallen sharply from its 52-week high of around ₹1,358, leaving it about 46% below that level at the latest traded price.
The stock had closed at ₹826.20 in the previous session before opening lower at ₹760 on Wednesday. It remained under pressure through the session and was trading at ₹733.80 at around 1:23 pm, down 11.18%.
The latest fall comes after Waaree Renewable Technologies reported a decline in quarterly profit even as revenue crossed ₹1,000 crore during the September quarter. The company had an unexecuted order book of more than ₹5,500 crore at the end of the quarter.
This article is for informational purposes only and should not be considered investment advice from Kotak Neo. For compliance T&C and disclaimers, Visit www.kotakneo.com/disclaimer
Rochelle Britto has spent 8+ years decoding India's markets, businesses, and consumer economy, reporting for ET Prime and Times Internet along the way, covering the stories behind the numbers.
A Mumbai native and perpetual planner of the next holiday, she stays far, far away from the eternal question, “Where are we going next?” When she's not chasing headlines, she's chasing new cultures, open roads, and a bit of quiet in nature.
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