Waaree Energies Limited — Important, 26-11-2024: General Updates

**Financial Highlights:** Waaree Energies Limited reported consolidated revenue of ₹36,634.63 crore for the second quarter, a year-on-year increase of 2.95%. EBITDA rose by 14% to ₹6,139.37 crore, with an EBITDA margin of 16.76%. Profit after tax was ₹3,756.59 crore, reflecting a growth of 17.35%. For the half-year, revenues totaled ₹71,598.76 crore, up 2.67% year-on-year, while EBITDA reached ₹12,539.26 crore, marking a 14.74% increase, resulting in a PAT of ₹7,767.84 crore, up 17.98%.

**Strategic Initiatives and Growth Drivers:** The company continues to enhance its manufacturing capabilities, with a focus on a 5.4 GW cell facility nearing commercial operations by December. A 6 GW integrated plant is under development. The strong order book stands at 20 GW, with a diverse customer base, highlighting robust demand, particularly from the U.S.

**Business Developments:** Waaree is diversifying its offerings to include hydrogen electrolyser production and battery energy storage systems. The company secured a ₹600 crore investment for renewable infrastructure, enhancing its energy transition strategy.

**Market Position and Competitive Advantage:** Waaree emphasizes its technological edge, ensuring quality and compliance with certifications, which distinguishes its offerings in a competitive landscape.

**Investor Implications:** With a positive outlook driven by solid fundamentals and strategic expansions, Waaree is well-positioned to capitalize on growing renewable energy demand, presenting potentially strong growth opportunities for investors.