Waaree Renewable shares crack over 10% in 2 days on profit booking despite robust Q2 earnings

Synopsis

Waaree Renewable Technologies saw its shares dip significantly despite reporting record quarterly revenue and profits. Investors are booking gains after a strong rally, even as the solar firm's net profit more than doubled year-on-year. Expansion into battery storage and data centers are key drivers for the company's robust performance.

Shares of Waaree Renewable Technologies slumped as much as 10.5% in 2 days, on Wednesday, dropping to a low of Rs 1,182.90 on the BSE from Tuesday’s high of Rs 1,325.90, as investors chose to book profits following the company’s strong September quarter earnings.

The sell-off came despite the solar energy firm reporting its highest-ever quarterly revenue and net profit, highlighting the market’s tendency to lock in gains after a significant rally.

As of 10:30 AM on Wednesday, over 1.57 lakh shares had changed hands on the BSE, with a turnover of Rs 18.94 crore. The company’s market capitalisation stood at Rs 12,331.33 crore.

The company’s consolidated net profit more than doubled year-on-year to Rs 116.34 crore for the quarter ended September 30, 2025, compared with Rs 53.51 crore in the same period last year.

Revenue jumped 47.73% year-on-year to Rs 2,774.78 crore, driven by strong execution across projects and robust demand in the renewable energy sector. Waaree cited continued expansion into verticals like Battery Energy Storage Systems and data centres as key contributors to the performance.

The company’s unexecuted order book stood at 3.48 GWp, expected to be fulfilled over the next 12–15 months. Waaree’s board also approved a capital expenditure plan that includes two 14 MWp solar IPP projects in Maharashtra and a 37.5 MWp project in Bikaner, Rajasthan.

Around 10:40 am, the shares of Waaree Renewable Technologies were trading 6% lower at Rs 1,182.90 on the BSE.

Also read: LG share price target at Rs 2,050? Korean giant sparks record frenzy with 8 buy calls on Day 1

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