Re 1.00/Share Dividend, 1:5 Split: Solar Energy Co Bags New Order, Shares Gain 343% YTD

Waaree Renewable Technologies Ltd shares gained 1.95% today after it informed via its regulatory filing about receiving letter of award (LOA) for the execution of Engineering Procurement and Construction (EPC) works for solar power project of 30 MW DC capacity on turnkey basis. The commercial order is worth 90.29 crore (excluding taxes). The size of the order is 30 MW DC. Current market price of Waaree Renewable Technologies share on BSE is Rs 1948.25 per share. Waaree Renewable Technologies shares offered eye-catching returns of 646% in last 1-year. Its market capitalisation stood at Rs 20,290.88 crore.

Earlier this year, Waaree Renewable Technologies recommended a dividend of Re 1.00/- per equity share of Rs 2/- each for FY ended March 31, 2024. The record date for dividend is yet to be announced. It also conducted a stock split in the ratio of 1:5 and set the ex-split date as March 16, 2024. More details below:

Waaree Renewable Technologies Bags Order: As per the BSE filing of the company dated July 15, 2024, "Reference to the captioned subject and in compliance of Regulation 30 of SEBI (Listing Obligation and Disclosure Requirement) Regulations, 2015, we are pleased to inform that "WAAREERTL" has received a Letter of Award (LOA) for the execution of Engineering, Procurement and Construction (EPC) works for solar power project of 30 MW DC capacity on turnkey basis."

Waaree Renewable Technologies Dividend: According to the May 10 exchange filing of Waaree, "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 Results: Earlier on May 10, it declared nearly a 4-fold jump in consolidated net profit after tax to Rs 54.18 crore for the quarter ended March 31, 2024 amid soaring revenues. Waaree Renewable announced its PAT at Rs 12.28 crore in the corresponding quarter of last year. Waaree Renewable announced the March 2024 quarter revenue at Rs 273.25 crore as against Rs 61.49 crore declared in the same quarter of last year. Its EBITDA declared at Rs 75.30 crore as compared to Rs 22.29 crore in the similar 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 226.32 apiece (as on 02/06/2023). Waaree Renewable Technologies shares slipped 8% in last 1-month, gained 292% in last 6-months, jumped 343% year-to-date, rose 3126% in last 2-years, and offered eye-popping returns of 6045% in last 3-years span. In last 5-years, Waaree Renewable stock offered unbelievable gain of 65,942%.

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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