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Waaree Energies Limited WAAREEENER NIFTY_MIDNSETECH

Technology · Solar · India
https://waaree.com
Company Profile ↓
₹2,370.00
-23.13% 1Y
Mkt Cap₹68,173.37 Cr
P/E17.89
P/B4.63
Div. Yield0.17%
52W High₹3,737.70
52W Low₹2,317.00
Book Value₹502.20
EPS (TTM)₹132.50

Company Overview

Waaree Energies Limited manufactures and trades in solar photovoltaic modules in India and internationally. It operates through Solar Photovoltaic Modules; Generation of Power; and Engineering, Procurement and Construction Contract segments. The company offers PV modules, such as HJT, N Type, mono PERC, flexible, and special modules; single and three phase on-grid inverter; solar kits; battery energy storage system; electrolyzer stacks; smart meter; transformer; and Waaree lights. It also provides engineering, procurement, and construction services; asset management; and solar systems for emerging, hybrid, and niche formats, including tracker-integrated systems, agrovoltaics, BIPV, and repowering legacy plants. The company serves engineering, procurement and construction companies; power production companies; power generation utilities; and individual consumers. The company was founded in 1989 and is based in Mumbai, India.

Why Investors Should Care

Strong Return on Equity

Generates a return on equity of 25.7%, reflecting efficient use of shareholder capital.

Healthy Capital Returns

Return on capital employed stands at 30.6%.

Consistent Profit Growth

Net profit has compounded at 97.4% per year over the last five years.

Steady Revenue Expansion

Revenue has grown at a 58.9% CAGR over the past five years.

Reasonable Valuation

Trades at a P/E of 17.9, below the sector median of 24.3.

Conservative Balance Sheet

Carries low leverage with a debt-to-equity ratio of 0.21.

Recent Developments

  • Mar 2026 Revenue of ₹26,536.77 Cr (+83.7% YoY); net profit ₹3,711.30 Cr.
  • Trailing 12 Months Year-on-year growth — revenue +79.2%, earnings +14.2%.
  • 5-Year Trend Long-term compounding — revenue CAGR 58.9%, profit CAGR 97.4%.

Growth & Price Performance

Compounded Sales Growth

5 Years:58.95%
1 Year:79.20%

Compounded Profit Growth

5 Years:97.36%
1 Year:14.20%

Stock Price Performance

1 Year:-23.13%
6 Months:-31.32%
3 Months:-12.22%
1 Month:-5.00%

Highlights auto-generated from reported financials and price data; not investment advice. Verify with official filings before acting.

Technical Snapshot Bearish
52-Week Range 4% of range
₹2,317.00 ₹3,737.70
Trend Signals
  • Price vs 50-DMABelow
  • Price vs 200-DMABelow
  • RSI (14)41.81 · Neutral
Price Performance
1M-5.00%
3M-12.22%
6M-31.32%
1Y-23.13%
Valuation vs Sector

P/E of 17.89 is below the sector median of 24.31 — relatively cheaper than peers.

Auto-generated from price history and fundamentals; not investment advice.

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Price Chart

NSE TradingView

Fundamental Growth Charts

Interactive charts for Revenue, Net Income, EBITDA, Free Cash Flow, EPS, ROE, ROCE, Gross/Net/Operating Margin and more — switch metric and period using the dropdowns above. CAGR is computed across the displayed window (quarterly CAGR is annualised). Visual growth charts make it easy to spot multi-year compounding trends at a glance — far faster than reading raw numbers in a table.

PROS

  • Strong return on equity of 25.7%.
  • Healthy ROCE of 30.6%.
  • Compounding revenue at 58.9% over 5 years.
  • Profit CAGR of 97.4% over 5 years.

CONS

  • Trading 36.6% below its 52-week high.
  • In a downtrend (50-DMA below 200-DMA).

* The pros and cons are auto-generated from financial metrics.

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Valuation

Stock P/E
17.89
Industry PE
24.31
Forward P/E
14.46
PEG Ratio
-
Book Value
₹502.20
Price to Book
4.63
P/S
2.22
EV/EBITDA
10.29
Dividend Yield
0.17%

Growth (CAGR)

Revenue 5Y
58.95%
Profit 5Y
97.36%
Revenue (YoY)
79.20%
Earnings (YoY)
14.20%

Profitability & Returns

ROCE
30.63%
ROE
25.71%
ROA
12.32%
Profit Margin
12.70%
Op Margin
13.99%
Gross Margin
30.23%
EPS (Latest Qtr)
₹29.50
EPS (TTM)
₹132.50

Balance Sheet & Liquidity

Debt/Equity
0.21
Quick Ratio
0.92
Current Ratio
1.38
Debt
₹3,212.62 Cr
Total Assets
₹30,115.37 Cr
Current Assets
₹17,577.00 Cr
Working Capital
₹4,869.30 Cr

Ownership

Promoter Holding
68.15%
Chg in Prom Hold
-0.20%
FII / Inst Holding
9.22%
Chg in FII Hold
0.21%

Financial Snapshot

Enterprise Value
₹68,173.37 Cr
Total Revenue (TTM)
₹30,042.73 Cr
EBITDA
₹6,360.53 Cr
Free Cash Flow
₹-3,254.82 Cr
Operating Cash Flow
₹1,626.95 Cr
Shares Outstanding
₹28.77 Cr
Gross Margin
30.23%
Payout Ratio
1.51%

Peer comparison

Peer companies in the same sector (Technology).

#NameCMP ₹P/E Mkt CapDiv Yld % ROCE %ROE % Rev CAGR 5Y %Profit CAGR 5Y %
1 WAAREEENER Waaree Energies Limited NIFTY_MIDNSETECH 2,370.00 17.89 ₹68,173.37 Cr 0.17% 30.63% 25.71% 58.95% 97.36%
2 TCS Tata Consultancy Services Limited NIFTY50NSEAITECH 2,506.90 17.57 ₹9.07 L Cr 3.12% 54.93% 47.74% 5.80% 5.30%
3 INFY Infosys Limited NIFTY50NSEAITECH 1,153.35 15.31 ₹4.67 L Cr 5.02% 41.66% 32.00% 3.44% 3.58%
4 HCLTECH HCL Technologies Limited NIFTY50NSEAITECH 1,421.70 22.12 ₹3.85 L Cr 5.10% 27.21% 24.07% 8.65% 3.87%
5 WIPRO Wipro Limited NIFTY50NSEAITECH 190.41 15.12 ₹1.88 L Cr 5.01% 17.85% 16.13% 0.78% 5.16%
6 TECHM Tech Mahindra Limited NIFTY50NSEAITECH 1,814.10 31.36 ₹1.61 L Cr 3.42% 19.82% 16.24% 2.16% -0.14%
7 LTM LTM Limited NSETECH 4,249.00 24.10 ₹1.26 L Cr 1.92% 25.39% 21.97% 8.43% 4.41%
8 LGEINDIA LG Electronics India Limited NIFTY_MIDNSETECH 1,651.20 61.41 ₹1.12 L Cr 0.00% 27.64% 21.98% 1.25% -
9 PAYTM One97 Communications Limited NIFTY_MIDNSEAITECH 1,661.40 166.47 ₹1.06 L Cr 0.00% 3.68% 3.45% 2.20% 43.71%
Financial Statements Quarterly Results · Profit & Loss · Balance Sheet · Cash Flows · Ratios

Quarterly Results

Figures in INR.

Metric Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Revenue 3,328.00 Cr3,537.00 Cr1,596.00 Cr2,936.00 Cr3,409.00 Cr3,574.00 Cr-4,003.93 Cr4,425.83 Cr6,066.00 Cr7,565.05 Cr8,480.25 Cr7,931.79 Cr
Cost of Revenue -------2,716.29 Cr3,001.65 Cr-4,871.91 Cr6,252.86 Cr5,883.00 Cr
Gross Profit -------1,287.64 Cr1,424.18 Cr-2,693.14 Cr2,227.39 Cr2,048.79 Cr
Operating Expenses 2,861.00 Cr3,020.00 Cr1,425.00 Cr2,518.00 Cr2,856.00 Cr3,050.00 Cr-518.43 Cr608.92 Cr4,659.00 Cr1,032.24 Cr951.28 Cr938.85 Cr
Operating Income 411.00 Cr446.00 Cr97.00 Cr343.00 Cr476.00 Cr441.00 Cr-769.21 Cr815.26 Cr1,166.00 Cr1,660.90 Cr1,276.11 Cr1,109.94 Cr
EBITDA 468.00 Cr517.00 Cr171.00 Cr418.00 Cr552.00 Cr525.00 Cr-1,055.55 Cr1,168.67 Cr1,406.00 Cr1,829.56 Cr1,756.48 Cr1,610.73 Cr
Interest Expense 40.00 Cr33.00 Cr18.00 Cr48.00 Cr34.00 Cr31.00 Cr-56.72 Cr43.25 Cr96.00 Cr93.28 Cr47.89 Cr70.37 Cr
Pretax Income 457.00 Cr435.00 Cr184.00 Cr659.00 Cr531.00 Cr499.00 Cr-845.46 Cr943.36 Cr1,231.00 Cr1,469.02 Cr1,407.95 Cr1,210.38 Cr
Tax Provision 118.82 Cr113.10 Cr42.32 Cr184.52 Cr127.44 Cr124.75 Cr-200.99 Cr170.47 Cr356.99 Cr362.23 Cr281.69 Cr318.51 Cr
Net Income 338.00 Cr320.00 Cr141.00 Cr475.00 Cr401.00 Cr376.00 Cr-618.91 Cr745.20 Cr878.00 Cr1,062.46 Cr1,061.10 Cr850.22 Cr
Diluted EPS 17.0515.986.3223.4119.9913.73-21.5125.8429.2936.8936.8429.50

Profit & Loss (Annual)

Figures in INR.

Metric Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Revenue 1,996.00 Cr1,953.00 Cr-6,608.01 Cr11,371.23 Cr14,444.50 Cr26,536.77 Cr
Cost of Revenue ---5,363.16 Cr9,101.90 Cr10,520.77 Cr18,080.94 Cr
Gross Profit ---1,244.85 Cr2,269.33 Cr3,923.73 Cr8,455.83 Cr
Operating Expenses 1,903.00 Cr1,868.00 Cr-570.15 Cr967.84 Cr1,604.54 Cr3,536.91 Cr
Operating Income 66.00 Cr56.00 Cr-674.70 Cr1,301.49 Cr2,319.19 Cr4,918.92 Cr
EBITDA 93.00 Cr85.00 Cr-910.73 Cr2,135.03 Cr3,119.18 Cr6,322.01 Cr
Interest Expense 34.00 Cr31.00 Cr-69.44 Cr124.02 Cr152.09 Cr280.50 Cr
Pretax Income 57.00 Cr70.00 Cr-677.15 Cr1,734.20 Cr2,564.64 Cr5,051.79 Cr
Tax Provision 17.67 Cr21.70 Cr-176.87 Cr459.82 Cr636.51 Cr1,167.64 Cr
Net Income 39.00 Cr48.00 Cr-482.76 Cr1,237.18 Cr1,867.39 Cr3,711.30 Cr
Diluted EPS 2.122.50-16.8043.0667.96128.84

Balance Sheet (Annual)

Figures in INR.

Metric Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Total Assets 938.00 Cr1,281.00 Cr-7,419.92 Cr11,313.74 Cr19,747.38 Cr30,115.37 Cr
Current Assets ---5,482.94 Cr8,013.09 Cr13,156.82 Cr17,577.00 Cr
Cash & Equivalents ---197.27 Cr121.39 Cr509.83 Cr774.16 Cr
Inventory ---2,708.87 Cr2,585.53 Cr2,692.11 Cr5,855.64 Cr
Receivables ---312.61 Cr971.39 Cr1,184.77 Cr2,492.32 Cr
Total Liabilities ---5,558.07 Cr7,165.25 Cr10,152.10 Cr15,104.48 Cr
Current Liabilities ---4,929.24 Cr5,423.16 Cr8,786.14 Cr12,707.70 Cr
Long Term Debt ---145.83 Cr102.60 Cr24.18 Cr815.14 Cr
Total Debt 157.00 Cr340.00 Cr-906.05 Cr1,091.98 Cr1,492.37 Cr3,691.89 Cr
Total Equity 298.00 Cr345.00 Cr-1,838.41 Cr4,087.81 Cr9,479.20 Cr14,437.34 Cr
Shares Outstanding ---28.73 Cr28.73 Cr28.73 Cr28.77 Cr

Cash Flows (Annual)

Figures in INR.

Metric Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating Cash Flow 83.00 Cr67.00 Cr-1,560.23 Cr2,305.04 Cr3,158.21 Cr1,626.95 Cr
Investing Cash Flow -22.00 Cr-250.00 Cr--2,093.82 Cr-3,340.27 Cr-6,808.37 Cr-3,953.18 Cr
Financing Cash Flow -50.00 Cr161.00 Cr-642.48 Cr909.19 Cr4,035.74 Cr2,573.11 Cr
Capital Expenditure -51.00 Cr-102.00 Cr--865.43 Cr-1,342.36 Cr-3,274.10 Cr-4,881.77 Cr
Free Cash Flow 32.00 Cr-35.00 Cr-694.79 Cr962.68 Cr-115.89 Cr-3,254.82 Cr
Net Change in Cash 12.00 Cr-21.00 Cr-108.88 Cr-126.04 Cr385.58 Cr246.88 Cr

Ratios (Annual)

Figures in %.

Metric Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Gross Margin % ---18.8%20.0%27.2%31.9%
Operating Margin % 3.3%2.9%-10.2%11.4%16.1%18.5%
Net Margin % 2.0%2.5%-7.3%10.9%12.9%14.0%
ROE % 13.1%13.9%-26.3%30.3%19.7%25.7%
ROCE % ---27.1%22.1%21.2%28.3%

Shareholding Pattern

Insiders
68.15%
Institutions
9.22%
Public Float
28.93%

Analyst View

Loading analyst coverage…

Latest News

Recent headlines for WAAREEENER

Google News Fri, 29 May 2026

Waaree Energies gears up to raise $700 million via institutional share sale; hires bankers - TradingView

<a href="https://news.google.com/rss/articles/CBMi5gFBVV95cUxNdTBDMHpfZzhRRFFLX0xEQlloY3BmdmhaOHAyVGc5bW9kZzh1R1RYTnBZZjYxMFBOTFBNQ2Q5VXozOFVaQmpVNXhGbnJfRi1FNDhKeWc0R01rUUJFV3dSSUZYMzlGUEptNjFkTnJLTmw2bERLaUJ6bXhXeENyLU1JMHBQWjBjTTlfRUhiZm…

Google News Mon, 19 Oct 2026

Waaree Energies (WAAREEENER.NS) Slips 1.57% to ₹2525 as Stock Sits Mid-Range Between Key Levels - Earnings Miss Risk - https://www.siam.in/

<a href="https://news.google.com/rss/articles/CBMiywFBVV95cUxPMHVuVnFRaFVCQ3hwUDdPbnpqZHN5bDFURHpmX1hyMFlsSFUxQmttWUtnU1dxcGRQbnFYbGcxalVKU2hoTzFqN0hieVJkX1lrMFl0Ynd6UmlLOGc4bF9VMVBZRUViWmFycEJzd0xiejVSN0FkQkR2ZDN2cURtejZZeG1kZjFiMHJ3VWRjMW…

Google News Wed, 21 Oct 2026

Waaree Energies Share Price: Fundamentals and Sector View - Univest

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Google News Mon, 03 Aug 2026

Waaree Energies Limited Just Missed Earnings - But Analysts Have Updated Their Models - Simply Wall Street

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Google News hu, 30 Jul 2026

Waaree Energies share price fell 6% despite strong Q1 results 2026; here's why - TradingView

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Google News Mon, 29 Jun 2026

Waaree Energies shares clarification on US probe; stock in focus - Business Today

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WAAREEENER — Frequently Asked Questions

What is the current share price of Waaree Energies Limited (WAAREEENER)?

As of 2026-10-24 04:55 IST, Waaree Energies Limited (WAAREEENER) trades at ₹2,370.00 on NSE. Its 52-week range is ₹2,317.00 to ₹3,737.70.

What is the market capitalisation of WAAREEENER?

Waaree Energies Limited (WAAREEENER) has a market capitalisation of ₹68,173.37 Cr on NSE.

What is the P/E ratio of WAAREEENER?

WAAREEENER trades at a trailing price-to-earnings (P/E) ratio of 17.89. The industry average P/E is 24.31. Its price-to-book (P/B) ratio is 4.63.

Does WAAREEENER pay a dividend?

Waaree Energies Limited (WAAREEENER) currently offers a dividend yield of 0.17%.

What is the return on equity (ROE) of WAAREEENER?

WAAREEENER has a return on equity (ROE) of 25.71%. Its return on capital employed (ROCE) is 30.63%.

Is WAAREEENER a good stock to buy?

This page provides a data-driven analysis of Waaree Energies Limited (WAAREEENER), including valuation ratios, profitability, growth trends, auto-generated pros and cons, peer comparison and AI exposure. Review these fundamentals alongside your own research and risk tolerance. This is informational content, not investment advice.

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