Here's why Waaree Energies share rose over 4% in trade on February 20

Waaree Energies share price: Waaree Energies share price was buzzing in trade on Thursday, February 20, 2025, as the scrip popped as much as 4.43 per cent to hit an intraday high of Rs 2,319 per share.

 

The rise in Waaree Energies share price came after it bagged an order for the supply of solar modules for 362.5 MWp by Khaba Renewable Energy to, a subsidiary of Engie India.

 

In an updated exchange filing, Waaree Energies said, “With reference to the intimation submitted on February 19, 2025 regarding the receipt of an order, along with Annexure A, we would like to clarify that the order for supply of solar modules for 362.5 MWp is awarded by Khaba Renewable Energy Pvt Ltd, a subsidiary of Engie India. 

 

The supply of modules is scheduled to commence in FY 2025-26, Waaree Energies said, in a statement.

 

In the previous exchange filing, the company had said, “This is to inform you that the Company has today received an order for supply of solar modules for 362.5 MWp from a renowned customer engaged in the business of owning, developing and operating renewable power projects in India.”

 

Waaree Energies Q3

 

Waaree Energies’ profit zoomed to Rs 506.8 crore in Q3FY25, from Rs 140.8 crore in Q3FY24.

 

The company's total income rose to Rs 3,545.2 crore in Q3FY25, from Rs 1,651.7 crore in Q3FY24. Meanwhile, its expenses came in at Rs 2,855.4 crore in Q3FY25, from Rs 1,517.3 crore a year ago. READ MORE

 

About Waaree Energies

 

Founded in 1990, Waaree Energies is among India's leading renewable energy companies, accelerating the global energy transition. Headquartered in Mumbai, the company operates state-of-the-art manufacturing facilities with an installed capacity of ~13.3 GW for solar PV modules (including 1.3GW of Indosolar). 

 

With presence across India and more than 25 countries worldwide, it offers innovative solar solutions, including panel manufacturing, EPC services, project development, and rooftop systems. 

 

The market capitalisation of Waaree Energies is Rs 66,181 crore, according to BSE. The company falls under the BSE IPO category.

 

At 10:40 AM, Waaree Energies share price was trading 3.06 per cent higher at Rs 2,288.40. In comparison, BSE Sensex was trading 0.30 per cent lower at 75,710.57 levels.