Buy Waaree Energies; target of Rs 3115: Prabhudas Lilladher
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓Prabhudas Lilladher issued a buy rating for Waaree Energies with a target price of Rs 3115.
- ✓The company reported 23.8% revenue growth, though EBITDA fell 5.9% due to lower exports.
- ✓Management expects better margins soon as they use new solar cell facilities and grow their retail business to reach higher targets.
Story at a Glance
- Category
- BUSINESS
- Reported By
- MoneyControl
- Reading Speed
- 2 Minute(s)
- Market Focus
- India Economy
Prabhudas Lilladher's research report on Waaree Energies Waaree Energies (WAAREEEN) reported a 23.8% YoY growth in revenue however, EBITDA declined 5.9% YoY with EBITDA margin contracting 550bps to 17.6%. Profitability was impacted by a sharp decline in exports from India amid uncertainty surrounding US Section 232 tariffs and the consequent rationalisation of export orders. Sequentially, margins improved on supported by higher cell production and improved utilisation at the US module manufacturing facility.
Going forward, management expects margin expansion, driven by the commissioning of the 10GW solar cell facility, higher utilisation of US manufacturing facilities, and improved US realizations following the implementation of minimum import price regulations.
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