Waaree Renewables Reports Mixed Q3 FY24-25 Results Amid Growth and Challenges

Waaree Renewables Technologies has released its financial results for the third quarter of FY24-25, showcasing a mixed performance across various metrics. The company's net sales for the half-year reached Rs 884.82 crore, demonstrating a notable year-on-year growth of 86.57%. Additionally, the profit after tax (PAT) amounted to Rs 107.05 crore, reflecting a 29.65% increase compared to the previous year. The company's debt-equity ratio has shown improvement, now standing at a low of 0.10 times, which indicates a reduction in borrowing relative to equity capital. Furthermore, cash and cash equivalents have reached their highest level in the last six half-year periods, totaling Rs 190.95 crore, suggesting enhanced short-term liquidity.
On the other hand, some indicators present challenges. The profit before tax (PBT), excluding other income, has seen a decline of 22.06% year-on-year, totaling Rs 66.95 crore. While non-operating income has peaked at Rs 3.78 crore over the last five quarters, there are concerns regarding the sustainability of this increase in the long term. In light of these developments, there has been an adjustment in the evaluation of Waaree Renewables, with the overall score declining to 14 from 32 in the past three months.

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