Waaree Renewable Share Price Target: Waaree Renewable Technologies Limited (WRTL) is an Indian engineering, procurement, and construction (EPC) company specializing in renewable energy, particularly solar power. The Parent company is Waaree Energies Limited, one of India’s largest solar panel manufacturers. The company was formerly known as Sangam Renewables Limited and changed its name to Waaree Renewable Technologies Limited in July 2021.
The Focus on Solar EPC projects, power generation from renewable sources, consultancy services. The Operations are Primarily focused on solar EPC business and also acts as a solar developer (finances, constructs, owns, and operates solar projects). Completed over 10,000 solar projects with a cumulative capacity exceeding 600 MW. It offers both on-site (rooftop and ground-mounted) and off-site (open-access solar plants) solar solutions.
Waaree Renewable Share Price Performance | BOM: 534618 Share Price
Waaree Renewable Technologies Limited (WRTL) has demonstrated strong share performance in recent years, driven by the growing demand for renewable energy and the company’s solid track record in the solar EPC sector.
Waaree Renewable Share Price Key Highlights:
- Current Share Price: ₹1922.40 (as of July 5, 2024)
- 52-Week Range: ₹215.20 – ₹3,037.75
- Market Capitalization: ₹20,021.65 Cr
Waaree Renewable Share Price Performance Over Different Timeframes:
- 1 Day: -1.81%
- 1 Week: -2.39%
- 1 Month: -15.23%
- 3 Months: 7.18%
- 6 Months: 257.4%
- 1 Year: 737.32%
- 3 Years: 8261.9%
- 5 Years: 56775.74%
Waaree Renewable Financial Performance:
Sales Growth:
- 1 Year: 122.54%
- 3 Years: 457.16%
- 5 Years: 204.7%
Profit Growth:
- 1 Year: 191.18%
- 3 Years: 585.16%
- 5 Years: 253.82%
Factors Influencing Waaree Renewable Share Performance:
Strong Industry Growth: The renewable energy sector, particularly solar power, is experiencing significant growth in India, driven by government initiatives and increasing environmental concerns.
Company’s Track Record: WRTL has a proven track record in the solar EPC sector, with a large portfolio of completed projects and a strong reputation for quality and reliability.
Financial Performance: The company has demonstrated robust financial performance, with strong revenue and profit growth in recent years.
Investor Sentiment: Positive investor sentiment towards renewable energy stocks has also contributed to the strong share performance of WRTL.
Waaree Renewable Share Price suddenly decline in May 2024, why?
Waaree Renewable Technologies experienced a significant decline in its share price during May 2024, primarily due to a combination of factors:
Broader Market Correction: The overall stock market, especially the renewable energy sector, faced a correction in May 2024. Investors became cautious due to concerns about overvaluation and rising interest rates, leading to a widespread sell-off.
Profit Booking: After experiencing a meteoric rise in its share price over the past year, some investors decided to book profits, further contributing to the decline.
Company-Specific Concerns: While the company reported strong Q4 earnings, there were concerns about its future growth prospects and its ability to sustain the high growth rate. Additionally, some investors were worried about the company’s high debt levels.
Negative News Sentiment: Some negative news reports and analyst downgrades also added to the negative sentiment around the stock.
Waaree Renewable current order book
Waaree Renewable Technologies has a robust order book as of July 2024:
Total Order Book:
- Value: ₹3,200 Crore (approximately)
- Capacity: 2.3 GW (gigawatts)
Recent Additions:
- In August 2023, Waaree Renewable Technologies secured a significant order for a 980 MWp solar power plant valued at ₹990.60 crore. This order tripled the company’s unexecuted order book to 2.141 GW.
- In Q3 FY24, the company won several large orders, including a 70 MW Capacity Ground mounted solar power project and a 78 MWp Capacity Ground mounted solar power project.
Execution Timeline:
The company aims to execute 1.8 GW of projects in FY25 and complete the cumulative 2.3 GW within the next 18 months.
Growth Prospects:
The Indian solar power sector is expected to grow significantly in the coming years, driven by government initiatives and increasing demand for renewable energy.
Waaree Renewable Technologies is well-positioned to benefit from this growth, with a strong order book and a proven track record in the solar EPC sector.
Waaree Renewable stock financials
Waaree Renewable Technologies Limited (WRTL) has demonstrated strong financial performance in recent years, driven by the growth of the renewable energy sector in India and the company’s solid track record in solar EPC projects.
Waaree Renewable Share Price Key Financial Highlights (As of July 2024):
Market Capitalization: ₹20,021.65 Crore
Revenue Growth (CAGR):
- 1 Year: 122.54%
- 3 Years: 457.16%
- 5 Years: 204.7%
Profit Growth (CAGR):
- 1 Year: 191.18%
- 3 Years: 585.16%
- 5 Years: 253.82%
Return on Equity (ROE):
- 1 Year: 72.98%
- 3 Years: 42.8%
- 5 Years: 26.09%
Return on Capital Employed (ROCE):
- 1 Year: 98.93%
- 3 Years: 51.02%
- 5 Years: 33.84%
Waaree Renewable Share Price Financial Strengths:
Strong Revenue and Profit Growth: WRTL has consistently delivered impressive revenue and profit growth over the past few years, indicating a healthy business model and effective execution of projects.
High ROE and ROCE: The company’s high ROE and ROCE figures suggest that it is efficiently utilizing its equity and capital to generate profits.
Healthy Debt Levels: WRTL has maintained healthy debt levels, indicating a strong financial position and the ability to manage its financial obligations.
Waaree Renewable Share Price Financial Weaknesses:
High Valuation: The company’s stock is currently trading at a high valuation, which may pose a risk for investors if the company fails to meet growth expectations.
Dependency on Government Policies: The renewable energy sector is heavily dependent on government policies and incentives, which can be subject to change and may impact the company’s future performance.
Why Sangam Renewables Limited changed its name to Waaree Renewable Technologies Limited in July 2021.
Waaree Renewable Technologies Limited (WRTL) was incorporated in 1999 under the name Sangam Advisors Private Limited. It was later converted into a public limited company in 2011, retaining the same name.
The change to Waaree Renewable Technologies Limited occurred in July 2021, as part of a rebranding strategy to align the company’s identity with its parent company, Waaree Energies Limited, and reflects its expanded focus on renewable energy technologies.
There was no separate incorporation of Waaree Renewable Technologies Limited in 1999. It is the same company that underwent a name change in 2021.
Thus, Sangam Renewables Limited changed its name to Waaree Renewable Technologies Limited in July 2021 due to a strategic rebranding initiative. The primary reasons for the name change include:
Reflecting the Parent Company: The company is a subsidiary of Waaree Energies Limited, one of India’s leading solar module manufacturers. The name change aligns the subsidiary’s identity with its parent company, creating a more cohesive brand image.
Expanding Scope: The company has expanded its scope beyond just solar EPC (Engineering, Procurement, and Construction) services. The new name, Waaree Renewable Technologies Limited, better reflects the company’s broader focus on renewable energy technologies and solutions.
Enhancing Brand Visibility: The new changed name is more recognizable and aligns with the parent company’s established brand reputation in the renewable energy sector. This can help enhance the company’s visibility and attract more customers and investors.
The name change was well-received by the market, and the company has continued to grow and thrive under its new identity.
Waaree Renewable Technologies Limited Technical Indicators
| Name | Value |
| Relative Strength Index (14) | 41.73 |
| Stochastic %K (14, 3, 3) | 30.49 |
| Commodity Channel Index (20) | −102.24 |
| Average Directional Index (14) | 14.77 |
| Awesome Oscillator | −77.77 |
| Momentum (10) | −85.65 |
| MACD Level (12, 26) | −66.18 |
| Stochastic RSI Fast (3, 3, 14, 14) | 51.08 |
| Williams Percent Range (14) | −72.27 |
| Bull Bear Power | −137.15 |
| Ultimate Oscillator (7, 14, 28) | 45.80 |
Waaree Renewable Share Price Target 2024, 2025, 2026, 2027, 2028, 2029 and 2030 Predictions:
Waaree Renewable share price target 2024|BOM: 534618
The Waaree Renewables Share initial price target for 2024 is projected to be ₹2307.00 with positive market conditions, the 2nd price target for Waaree Renewable share price may reach ₹1794.30 with some negative market scenario.
Waaree Renewable share price target 2025| BOM: 534618
The Waaree Renewables Share initial price target for 2025 is projected to be ₹2758.00 with positive market conditions, the 2nd price target for Waaree Renewable share price may reach ₹2015.80 with some negative market scenario.
Waaree Renewable share price target 2026, 2027, 2028, and 2029:-
| Year | Target Price ₹ |
| 2026 | 2985.88 |
| 2027 | 3295.89 |
| 2028 | 3915.08 |
| 2029 | 4805.85 |
Waaree Renewable share price target 2030: BOM: 534618
The Waaree Renewable Share initial price target for 2030 is projected to be ₹5275.78 with positive market conditions, the 2nd price target for Waaree Renewables share price may reach ₹4265.18 with some negative market scenario.
Conclusion, the Waaree Renewable share price has recovered somewhat since the sharp decline in May, but it is still below its peak levels. The future performance of the stock will depend on various factors, including the company’s financial performance, industry trends, and overall market conditions.
The renewable energy sector is booming in India due to government initiatives and increasing environmental concerns. The Company has a proven track record in delivering successful solar EPC projects. The company’s strong financial performance has instilled confidence in investors. Positive investor sentiment towards renewable energy stocks has also contributed to Waaree Renewables ‘s success.
Note: The predictions about Waaree Renewables share price or value are only for education and information purpose. Please consult authorized entity before making and investment decisions. We are not responsible for any losses.
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