Multibagger Waaree Renewable Technologies shares zoom over 14% after Q4 results; net profit surges 83%

Shares of Waaree Renewable Technologies rallied sharply on Thursday, April 17, climbing over 14 percent in intraday trading after the company reported robust financial results for the March 2025 quarter (Q4FY25). The strong performance was underpinned by a significant increase in both revenue and profit, reflecting the company’s growing momentum in the renewable energy sector.

Q4 Profit Nearly Doubles; Revenue Soars 74%

Waaree Renewable Technologies reported a consolidated net profit of ₹93.76 crore for Q4FY25, marking a sharp 83 percent jump compared to ₹51.31 crore in the same quarter last year. This strong profit growth was supported by a substantial rise in revenue from core operations, which climbed 74 percent year-on-year to ₹476.57 crore. The corresponding figure for Q4FY24 stood at ₹273.31 crore. 

While topline and bottomline performance were solid, the company also witnessed a rise in total expenses. For the quarter ended March 2025, Waaree Renewable’s expenses rose 75 percent year-on-year to ₹356.25 crore, up from ₹203.27 crore a year earlier. The rise in expenditure was largely attributed to increased costs associated with executing Engineering, Procurement and Construction (EPC) contracts, reflecting the pace of project delivery and capacity build-out across its portfolio.

According to the company’s quarterly disclosures, revenue from the EPC segment rose sharply by 76 percent year-on-year to ₹469.72 crore, compared to ₹266.44 crore reported in the same quarter last fiscal.

However, the company’s power sales business remained relatively flat. For the quarter ended March 31, 2025, revenue from power sales came in at ₹6.85 crore, showing a marginal decline of 0.14 percent from ₹6.86 crore in the corresponding period a year earlier. 

Stock Price Trend

Waaree Renewable Technologies surged as much as 14.2 percent during intraday trade on April 17, touching a high of ₹1,170. Despite the sharp rebound, the stock remains 61.5 percent below its 52-week high of ₹3,037.75, which was recorded on April 26, 2024. On the downside, it had hit a 52-week low of ₹732.05 earlier this month, on April 7, 2025.

Over the long term, Waaree Renewable has delivered staggering multibagger returns of over 50,000 percent to investors over the past five years. However, its recent performance has been volatile. Over the last one year, the stock has declined by 52.69 percent, reflecting a sharp correction from its earlier highs.

In April alone, the scrip has gained 27 percent, building on a 10 percent rise seen in March. This comes after a rough patch of five consecutive months of declines between October 2024 and February 2025. During that period, the stock lost 20.5 percent in October, 3 percent in November, 8.5 percent in December, 24.5 percent in January, and 18.7 percent in February, reflecting sustained selling pressure before the recent rebound.

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