Waaree Energies: Solar panel manufacturing companies expected to be be benefited from recent govt. initiative "Pradhanmantri Suryodaya Yojana"

The recent initiative by the government, "Pradhanmantri Suryodaya Yojana (PSY)"impart a fresh impetus to the sector with panel manufacturing companies seen to be the biggest beneficiaries. Waaree Energies comes under the top 10 Indian solar panel manufacturing companies which would benefit from the same and can be the next multi-beggar stock.
​Explosive Revenue Growth: In FY23, Revenue is up 137% year-over-year (y-o-y)
​Profits Sky-rocket: 500%+ y-o-y growth in net profit, marking FY23 as the first year where net profit margin exceeds 7% of revenue

Financials:

• EPS expected to grow >40% CAGR for next 2 years.
• Current P/E 60x, undervalued considering growth, estimated forward P/E 15x.
• Potential multi-bagger opportunity. 
• IPO presents a lucrative exit opportunity.