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Economic Times
12 minutes ago
- Economic Times
Waaree Energies shares in focus after Q1 profit surges 89% YoY to Rs 745 crore
Shares of Waaree Energies will be in focus on Tuesday after the company reported an 89% year-on-year (YoY) jump in consolidated net profit for Q1 FY26, coming in at Rs 745 crore compared to Rs 394 crore in the same period last year. ADVERTISEMENT Revenue from operations stood at Rs 4,426 crore, up 30% from Rs 3,408 crore reported in the corresponding quarter of the previous financial year. On a sequential basis, profit grew 20% from Rs 619 crore in the March quarter, while revenue rose nearly 11% from Rs 4,004 crore. Waaree Energies operates across three verticals: solar photovoltaic (PV) modules, engineering-procurement-construction (EPC), and power generation. - Solar PV Modules: Revenue rose to Rs 3,872 crore in Q1 FY26, up from Rs 3,617 crore in Q4 FY25 and Rs 3,178 crore in Q1 FY25. - EPC Segment: Revenue came in at Rs 589 crore, compared to Rs 465 crore in Q4 FY25 and Rs 226 crore a year earlier. ADVERTISEMENT - Power Generation: Revenue remained flat YoY at Rs 11 crore, versus Rs 8 crore in the previous expenses for the quarter stood at Rs 3,654 crore, compared to Rs 3,291 crore in Q4 and Rs 2,966 crore in Q1 FY25. These include costs related to raw materials, stock-in-trade, and employee benefits. ADVERTISEMENT According to Trendlyne, the average target price for Waaree Energies is Rs 2,607, implying a downside of about 16% from current levels. Among the four analysts tracking the stock, the consensus recommendation is 'Sell'.While the stock is up over 9% in 2025 so far, it has delivered a strong 49% return over the past six months. The company currently commands a market capitalisation of around Rs 89,368 crore. ADVERTISEMENT (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)
Economic Times
12 minutes ago
- Economic Times
Mazagon Dock shares in focus as Q1 net profit drops 35% YoY. Should you buy?
ADVERTISEMENT ADVERTISEMENT ADVERTISEMENT Shares of Mazagon Dock Shipbuilders will be in focus on Tuesday after the state-run defence PSU reported a 35% year-on-year (YoY) decline in its consolidated net profit for the June quarter. The company posted a profit of Rs 452 crore for Q1 FY26, compared to Rs 696 crore in the corresponding period last the fall in profit, the management highlighted that the quarter saw solid operating performance and a steady uptick in a sequential basis, however, the company delivered robust growth, with net profit rising nearly 39% from Rs 325 crore reported in Q4 from operations rose 11% YoY to Rs 2,625.6 crore, up from Rs 2,357 crore in Q1 FY25. On a quarter-on-quarter basis, though, revenue declined 17% from Rs 3,174 crore in the preceding three months. The company's total income for the quarter stood at Rs 2,914.9 crore, which includes Rs 289.3 crore in other Dock posted an EBITDA of Rs 793.5 crore for the period, with an EBITDA margin of approximately 30.2%. This performance was supported by lower input costs and a stronger contribution from high-margin the Q1 results, domestic brokerage firm Antique has maintained a 'Buy' rating on Mazagon Dock Shipbuilders and set a target price of Rs 3, brokerage noted that elevated provisions during the recent quarter impacted the company's profit margins. However, follow-on orders for the Scorpene and P75I submarines are expected to strengthen the order book and support mid-term flagged potential delays in order awards as a key risk, while also noting that margin volatility from provision spikes is likely behind. The firm has cut its FY26 earnings per share (EPS) estimate by 8.3%, but left its FY27 estimate largely Tuesday, Mazagon Dock Shipbuilders shares closed 3.4% lower at Rs 2,789.80 on the BSE.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Economic Times
12 minutes ago
- Economic Times
TCS slumps 33% from peak. Is the correction an opportunity in disguise?
Tata Consultancy Services (TCS), India's largest IT company, is facing a sharp disconnect between its fundamentals and its stock price. The stock has plunged nearly 33% from its lifetime high, falling 25% in 2025 alone — even as the company posted better-than-expected Q1FY26 earnings and announced steady dividend payouts. ADVERTISEMENT From a technical standpoint, the stock is under significant pressure. 'TCS has broken below a rising trendline on the weekly chart with strong volumes, which signals intensified selling pressure,' said Mandar Bhojane, Equity Research Analyst at Choice Broking. 'The RSI is down to 28.8, which puts the stock in oversold territory, but the downward trend remains intact for now.' Bhojane advises investors to wait for signs of a reversal before entering. He sees immediate support at Rs 3,000 and Rs 2,800, with a potential upside to Rs 3,500–3,800 if a recovery sets Vithlani, Technical Analyst at Bonanza, also points out that TCS is nearing its October 2022 lows — a critical support zone. 'Long-term investors can consider staggered accumulation between Rs 3,060 and Rs 3,000 with a stop loss at Rs 2,900. The next bounce, if it comes, could aim for Rs 3,270 and Rs 3,415,' he said. ADVERTISEMENT TCS reported a net profit of Rs 12,760 crore for Q1FY26, up 6% year-on-year and above Street expectations. Revenue rose 1.3% YoY to Rs 63,437 crore, but the constant currency figure declined 3.1%, mainly due to a sharp ramp-down in the BSNL expanded 30 bps sequentially to 24.5%, and net cash from operations was a healthy Rs 12,804 crore — 100.3% of net income. Attrition stood at 13.8%, indicating a relatively stable workforce environment. ADVERTISEMENT Still, the BSNL hit and ongoing macro uncertainties led to a 0.5% sequential dip in international business, a concern highlighted by several brokerages. ADVERTISEMENT Investor sentiment took another hit after TCS announced plans to lay off over 12,000 employees, 2% of its workforce, citing AI-led disruptions and weak demand in certain verticals. The layoffs, largely affecting mid- and senior-level staff, are part of what the company describes as a move toward becoming a 'future-ready' follows criticism over TCS's newly revised 'bench policy,' which puts employees under greater pressure to remain billable. Industry-wide, hiring has slowed dramatically, the top six IT firms added just 3,847 people in Q1, down 72% from the previous quarter. ADVERTISEMENT Despite the bearish chart setup and recent workforce cuts, most brokerages remain bullish on TCS, pointing to its attractive valuations and strong Oswal maintained a Buy with a Rs 3,850 target, noting that execution on BSNL remains a concern, but margin expansion and cash flows are revised its target slightly down to Rs 3,950 but expects growth to pick up as macro conditions and Nomura both lowered their targets marginally but still see upside from current levels, citing long-term visibility and cost is in a tough spot, technically weak, but fundamentally stable. While short-term momentum may continue to be negative, analysts believe long-term investors could benefit from staggered accumulation at key support question isn't whether TCS is struggling now; that's clear from the price. The bigger question is whether the correction has gone too far relative to the company's core the fundamentals hold, and the global tech cycle improves, this may indeed be one of those moments where fear creates opportunity. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)
