Nuvama projects strong Q2 for Waaree and Premier Energies on higher production and strong demand

With India’s solar energy capacity continuing to expand, domestic brokerage Nuvama Institutional Equities expects a strong September-quarter performance from solar module manufacturers Waaree Energies and Premier Energies.

The brokerage estimates Waaree to record a strong jump in revenue to ₹51 billion, up 41 per cent year-on-year and 14 per cent quarter-on-quarter, with EBITDA at ₹11 billion, doubling from last year and rising 7 per cent sequentially.