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Waaree Renewable shares continously falling, fall 20% today- why

In April 2024, the shares of Waaree Renewables Technologies Ltd had reached a high of 3037 but closed today at 951. The intriguing aspect here is that, the same share was trading around 4-5 rupees during 2017-2018, hence proving to having become a multibagger by April 2024, turning a 1 lakh investment into around 6 crore.

Waaree Renewable shares

In the last 4 trading sessions, it has crashed almost by 28%.

The stock started falling after Mr. Dilip Panjwani resigned from his position as chief financial officer (CFO) of the company for personal reasons.

 "Please accept my formal resignation from my role as Chief Financial Officer of Waaree Renewable Technologies Ltd effective today on January 7, 2025. Per discussion, please note that the last date of my employment will be January 31, 2025," Panjwani stated.

Exchanges have put the securities of Waaree Renewable Tech under the long-term Additional Surveillance Measure (ASM) framework.

On technical charts, the share traded lower than the 50-, 100-, 150-day and 200-day simple moving averages.

According to BSE, the stock has a price-to-equity (P/E) ratio of 49.43 against a price-to-book (P/B) value of 30.99. The earnings per share (EPS) stood at 19.24.

An IMPORTANT ASPECT TO NOTE IS THAT in the results of March 2020, the sales of Waaree Renewables Technologies Ltd. were only 2 crores, which increased to 867 crores by March 2024. 

Also, the company's EPS improved from 0.22 to 14.30 by March 2024. AS OF DECEMBER 2024, THE PROMOTERS HOLD 74.39% OF THE COMPANY'S SHARES.


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