Re 1.00/Share Dividend, 1:5 Split: Solar Energy Stock Soars On Order Win, YTD Gain 433%

Waaree Renewable Technologies Ltd shares today jumped over 4% after the company informed via BSE filing about receiving 26.4 MW DC order. Current market price of Waaree Renewable Technologies share on BSE is Rs 2380.00 per share. Waaree Renewable Technologies shares offered eye-popping returns in a short span. Waaree Renewable Technologies share offered attractive return of 433% year-to-date and 26.90% in last 1-week only. Earlier, Waaree Renewable Technologies recommended a dividend of Re 1.00/- per equity share of Rs 2/- each for FY ended March 31, 2024 amid surge in revenues. The company also carried out stock split in 1:5 proportion and shares traded ex-split on March 16, 2024. Its market capitalisation stood at 24,785.44 crore. More details below:

Waaree Renewable Technologies Bags New Order: As per the BSE filing of the company dated May 31, 2024, "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 26.4 MW DC capacity on turnkey basis." Waaree Renewable bagged the order from a leading steel manufacturing company where in Waaree Renewablewill be tasked to develop the projects for respective customers as per terms of order. The order value is approximately 65.22 crore excluding taxes. The nature of the order is commercial. The aggregate order size is 26.4MW DC.

Waaree Renewable Technologies Q4 Results: Earlier on May 10, it announced approximately a 4-fold rally 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. It declared 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 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 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 164.02 apiece (as on 02/06/2023). Waaree Renewable Technologies shares declined over 3% in last 1-month, jumped 732% in last 6-months, and offered highly attractive return of 1308% in last 1-year only. Waaree Renewable Technologies shares zoomed 12,262% in last 3-years only and 72,866% return in last 5-years span.

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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