Waaree Renewable Tech Nov-24
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Questions and Answers

What is the current EBITDA margin level mentioned in the discussion?

  • 20%
  • 15% (correct)
  • 10%
  • 12%

    • What was the highest quarterly revenue reported?

  • Rs. 540 crores
  • Rs. 500 crores
  • Rs. 524 crores (correct)
  • Rs. 550 crores

    • Over the next four to five quarters, what is expected regarding EBITDA margins?

  • They will decline consistently
  • They will fluctuate between 5% and 10%
  • They will be maintained near current levels (correct)
  • They will increase significantly

    • What does the speaker expect regarding the new order book?

    <p>It will change the EBITDA margin mix</p> Signup and view all the answers

    What is a crucial aspect mentioned about the increase in EBITDA?

    <p>It is primarily driven by volume increase</p> Signup and view all the answers

    What role does outsourcing play in EPC costs according to the discussion?

    <p>The percentage of outsourcing needs clarification</p> Signup and view all the answers

    Over what time frame is the current order book expected to be valid?

    <p>9 to 12 months</p> Signup and view all the answers

    What financial metrics are said to be increasing alongside EBITDA?

    <p>PAT and EBITDA</p> Signup and view all the answers

    What has been observed regarding investments in the sector?

    <p>No significant slowdown in investments</p> Signup and view all the answers

    What factor does Dilip Panjwani mention as a barrier for newer players entering the sector?

    <p>Requirement to qualify for bids</p> Signup and view all the answers

    What is suggested as a benefit of increased competition in the sector?

    <p>Improvement in efficiencies and productivity</p> Signup and view all the answers

    What is the approximate investment range for gigawatt-scale projects mentioned?

    <p>Rs. 3 crores to Rs. 3.5 crores per megawatt</p> Signup and view all the answers

    What type of projects does Dilip Panjwani mention as part of their order book?

    <p>Predominantly utility-scale projects</p> Signup and view all the answers

    What complexity is mentioned as an added factor in current projects?

    <p>Complexity of battery storage</p> Signup and view all the answers

    What does Dilip Panjwani indicate about rooftop solar orders?

    <p>They are part of the order book</p> Signup and view all the answers

    What does Dilip Panjwani think about the impact of competition in the sector?

    <p>It keeps the industry on good footing</p> Signup and view all the answers

    What percentage of orders is currently sourced from domestic sources?

    <p>100%</p> Signup and view all the answers

    What is the primary concern mentioned regarding the domestic supply chain?

    <p>Capacity to meet demands</p> Signup and view all the answers

    What notable market does the company aspire to enter for international EPC projects?

    <p>Middle East and Africa</p> Signup and view all the answers

    What percentage of raw material cost is mentioned in the conversation?

    <p>70% - 74%</p> Signup and view all the answers

    As of the conversation, has the company committed capital for international ventures?

    <p>No, there is no firm commitment yet.</p> Signup and view all the answers

    How has the ALMM regulation impacted module supplies?

    <p>Modules now get covered under ALMM</p> Signup and view all the answers

    What has been the historical practice regarding equipment procurement?

    <p>Historically procured only from domestic sources</p> Signup and view all the answers

    What issues related to supply chains were mentioned in the discussion?

    <p>No significant supply chain issues were mentioned.</p> Signup and view all the answers

    What is the government’s commitment regarding renewable energy procurement power?

    <p>40 to 50 gigawatts per annum</p> Signup and view all the answers

    What was the initial aspiration for executing gigawatts in the current financial year?

    <p>1.5 to 2 gigawatts</p> Signup and view all the answers

    What was the size of the company’s current order book mentioned?

    <p>1.7 gigawatts</p> Signup and view all the answers

    What is the size of the pipeline that the company is currently pursuing?

    <p>17.8 gigawatts</p> Signup and view all the answers

    How long is the typical time gap to fruition of the business in this industry?

    <p>6 to 8 months</p> Signup and view all the answers

    What potential market size did the participant refer to when discussing the whole market chase?

    <p>More than double the current pipeline</p> Signup and view all the answers

    Which projects are anticipated to emerge alongside the government’s renewable energy initiative?

    <p>Kusum Yojana and rooftop projects</p> Signup and view all the answers

    What was the range of gigawatts with which the company started the current financial year?

    <p>2.3 to 2.4 gigawatts</p> Signup and view all the answers

    What is the anticipated sustainable margin level mentioned for the future?

    <p>15%</p> Signup and view all the answers

    Why is hydrogen considered a growth driver for solar EPC?

    <p>The company has group capabilities in hydrogen.</p> Signup and view all the answers

    What historical margin levels has the company experienced?

    <p>Around 20% with variability</p> Signup and view all the answers

    What is the company's internal target regarding project selection?

    <p>To only select projects that align with their historical operating principles.</p> Signup and view all the answers

    What aspect of the market has the company noticed has not yet materialized?

    <p>Significant demand increase for hydrogen-related orders.</p> Signup and view all the answers

    Based on historical performance, what has fluctuated in the company's margins?

    <p>Margins have varied depending on the type of project undertaken.</p> Signup and view all the answers

    Which statement regarding the company's future guidance on margins is correct?

    <p>Margins will be updated as new orders are won.</p> Signup and view all the answers

    What degree of market demand for hydrogen is currently expected?

    <p>A significant demand yet to be scaled up.</p> Signup and view all the answers

    What is the typical timeframe between invoicing clients and recognizing revenue?

    <p>30 to 45 days</p> Signup and view all the answers

    Which method is used to book revenues according to the accounting standard discussed?

    <p>Percentage of completion method</p> Signup and view all the answers

    What does Waaree prioritize when securing contracts?

    <p>Profitable contracts</p> Signup and view all the answers

    How much growth is expected next year as mentioned in the conversation?

    <p>2x to 3x growth</p> Signup and view all the answers

    What does the term 'EPC work' refer to, based on the dialogue?

    <p>Engineering, Procurement, and Construction</p> Signup and view all the answers

    What was the company's revenue situation compared to last year's performance?

    <p>Revenue has increased</p> Signup and view all the answers

    What was one reason mentioned for Waaree not winning large orders in recent quarters?

    <p>Unfavorable bidding results</p> Signup and view all the answers

    What is implied about the company's relationship with stakeholders?

    <p>It is transparent and ongoing</p> Signup and view all the answers

    Study Notes

    Earnings Conference Call Transcript

    • Date: November 7, 2024
    • Company: Waaree Renewable Technologies Limited
    • Subject: Q2 FY '25 Earnings
    • Call Details: 11:30 a.m.
    • Location: Mumbai, India
    • Purpose: Discuss unaudited financial results for the quarter and half-year ending September 30, 2024.

    Management Team

    • Dilip Panjwani: Chief Financial Officer
    • Manmohan Sharma: AVP, Financial Controller
    • Rohit Wade: General Manager, Investor Relations

    Moderator

    • Viral Sanklecha: Orient Capital Limited

    Key Financial Highlights (Q2 FY '25)

    • Revenue: Rs. 524.47 crore (3.5x YoY increase from Rs. 150 crore in Q2 FY '24)
    • EBITDA: Rs. 71.57 crore (133.27% YoY increase from Rs. 30.68 crore in Q2 FY '24)
    • PAT: Rs. 53.52 crore (160% YoY increase from Rs. 20.54 crore in Q2 FY '24)
    • H1 FY '25 Revenue: Rs. 760.82 crore (172.7% YoY increase from Rs. 279 crore in H1 FY '24)
    • H1 FY '25 EBITDA: Rs. 112.65 crore (155% YoY increase from Rs. 44 crore )
    • H1 FY '25 PAT: Rs. 81.68 crore (175.29% YoY increase from Rs. 29.67 crore)

    Order Book and Pipeline

    • Unexecuted Order Book: 1.7 gigawatts peak (approx. Rs. 2,700 crore) as of September 30, 2024
    • Pipeline: 17.8 gigawatts
    • EPC orders executed: 705 megawatt peak in H1 FY'25.

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    Waaree Renewable Technologies Limited Q2 FY '25 Earnings Conference Call PDF

    Description

    Test your knowledge on current trends regarding EBITDA margins, revenue reports, and market expectations. This quiz covers key insights from a financial discussion relating to investment dynamics and competition in the sector. Dive into specifics about order books and project complexities.

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