Multibagger Solar Energy Stock Declares 341% Jump In Net, Dividend; Shares Hit Lower Circuit

Waaree Renewable Technologies Ltd shares hit lower circuit on May 11 despite reporting a massive surge in PAT and dividend. The company declared nearly 4-fold surge in its consolidated net profit after tax to Rs 54.18 crore for the quarter ended March 31, 2024 amid rising revenues. It reported its PAT at Rs 12.28 crore in the corresponding quarter of last year, as per its BSE filing. Waaree Renewable Technologies also recommended a dividend of Re 1.00 per equity share of Rs 2/- each for the FY ended March 31, 2024. Waaree Renewable Technologies shares offered highly attractive return of 189% in just 3-months and 1227% returns in last 1-year. Waaree Renewable Technologies has a market capitalisation of Rs 26,703.87 crore. Waaree Renewable shares rallied 1834% from 52-week low price of Rs 157.02 per share. More details below:

Waaree Renewable Technologies Declares Dividend: As per the May 10 BSE filing of the company, "recommendation of dividend of Re 1.00 /- per equity share of Rs 2/- each for the FY ended March 31, 2024, subject to approval of members at the ensuing Annual General Meeting (AGM) of the company."

Waaree Renewable Technologies Q4: The company announced the March 2024 quarter revenue at Rs 273.25 crore as against Rs 61.49 crore announced in the similar quarter of last year. Its earnings before interest, taxes, depreciation, and amortization (EBITDA) arrived at Rs 75.30 crore as against Rs 22.29 crore in the same quarter of last year. The company's unexecuted order book stood at 2,365 MW as of March 31, 2024.

Waaree Renewable Technologies Share Performance & Return: The 52-week high price of Waaree Renewable share on BSE is Rs 3037.75 per share (26/04/2024) and 52-week low price is Rs 157.02 apiece (as on 23/05/2023). Waaree Renewable Technologies shares dropped over 6% in last 1-week, gained over 800% in last 6-months, and zoomed 16,658% in last 3-years only. Last trading price of Waaree Renewable Technologies share on BSE is Rs 2564.00 per share.

Waaree Renewable Technologies Stock Split: It conduced 1:5 stock split in 2024 and fixed March 16 as record date.

Waaree Renewable About: Waaree Renewables Technology Limited (WRTL) is a subsidiary company of Waaree Group and spearheading the Solar EPC business. Waaree Group has successfully installed 10000+ solar projects, with a total operating capacity of 600+ MW. It is also a solar developer that finances, constructs, owns, and operates solar projects. Headquartered in Mumbai, it operates across geographies, focusing on long-term investments within the commercial and industrial customer segments. This subsidiary was formed to tap into the growing renewable energy market, according to its official website.

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