Waaree Energies Limited Share Price & Analysis
Price Chart
Fundamentals
Strengths
- Excellent return on equity (ROE 32.5%)
- Efficient capital deployment (ROCE 38.4%)
- Attractively valued vs sector (P/E 16.8x vs industry 47.1x)
- Low debt relative to equity (D/E 0.2x)
- Near 52-week low — potential value zone (₹2,163)
Concerns
Today's Price Action
The stock closed at ₹2238, matching the previous close with zero percent change. Trading volume stood at 29,78,418 shares, identical to the 20‑day average, indicating that current activity aligns with recent typical participation and that the price remains within roughly 2 % of the 52‑week low.
Valuation Snapshot
The trailing P/E ratio is 16.8, while the sector median P/E is listed as 0, reflecting a lack of comparable peers or a data anomaly. A price‑to‑book multiple of 0.9 combined with a return on equity of 32.5 % points to strong earnings efficiency relative to book value and suggests a quality return that exceeds typical industry benchmarks.
Key Levels to Watch
The 52‑week high sits at ₹3643 and the low at ₹2282, placing the present price just 5 % below the year‑low range. Although open‑interest data are not provided, the proximity to the lower band and a recent swing high around ₹2400 create an intermediate resistance level that may attract attention around the ₹2280‑₹2300 support zone.
Chart Pattern
On the daily chart, a bullish hammer appeared six sessions ago and a gravestone doji formed ten sessions ago. The hammer indicates a possible short‑term reversal from a downtrend, whereas the gravestone doji reflects indecision at a prior peak, both patterns emerging on the same daily timeframe.
Data Summary
Key metrics include a market‑capitalisation figure reported as ₹0 Cr, a P/E of 16.8, a P/B of 0.9 and an ROE of 32.5 %. Volume for the day equals the 20‑day average of 29,78,418 shares, the price sits near the lower end of its 52‑week range, and the security trades on the NSE under the ticker WAAREEENER.
Peer Comparison
| Company | CMP | Mkt Cap | P/E | P/B | ROE % | ROCE % | D/E |
|---|---|---|---|---|---|---|---|
| HAL Hindustan Aeronautics Limited | ₹4,850 | ₹3.2L Cr | 33.9 | 7.9 | 24 | 32 | 0 |
| BEL Bharat Electronics Limited | ₹363 | ₹2.6L Cr | 43 | 11.08 | 27.4 | 36.4 | 0 |
| TMCV Tata Motors Limited | ₹— | ₹1.5L Cr | 20.4 | 10.71 | 34 | 35.9 | 0.44 |
| BHEL Bharat Heavy Electricals Limited | ₹405 | ₹1.3L Cr | 46.9 | 5.28 | 6.23 | 9.14 | 0.22 |
| ABB ABB India Limited | ₹6,490 | ₹1.3L Cr | 84.4 | 14.72 | 22.4 | 29.9 | 0.02 |
| ENRIN Siemens Energy India Limited | ₹2,840 | ₹1.3L Cr | 98.46 | 26.82 | — | — | 0.04 |
| CGPOWER CG Power and Industrial Solutions Limited | ₹832 | ₹1.3L Cr | 91.7 | 15 | 20.5 | 26.7 | 0.02 |
Showing 7 peers in the same sector · Sorted by market cap
Shareholding Pattern
WAAREEENER · as of Sep 2026
| Category | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|
| Promoters | 64.31% | 64.22% | 64.22% | 64.19% | 64.12% | 64.12% |
| FII | 2.68% | 6.35% | 6.91% | 7.06% | 8.57% | 8.57% |
| DII | 2.86% | 2.82% | 2.86% | 4.32% | 4.08% | 4.09% |
| Public | 30.15% | 26.60% | 26.01% | 24.44% | 23.23% | 23.22% |
Corporate Events
To consider and approve the financial results for the period ended September 30, 2026
Dividend - Rs 2 Per Share
To consider and approve the Un-Audited Financial Results for the quarter ended Jun 30, 2026.
Waaree Energies Limited has informed the Exchange that the Board of Directors at its meeting scheduled to be held on Wednesday, April 29, 2026, will consider recommendation of Final Dividend for the Financial Year 2025 - 26, if any.
Waaree Energies Limited has informed the Exchange that the meeting of the Board of Directors of the Company is scheduled to be held on 29/04/2026 ,inter alia, to consider and approve the Audited Financial Results (Standalone And Consolidated) of the Compa
Waaree Energies Limited has informed the Exchange that in continuation to our earlier intimation dated April 21, 2026, the Board of Directors shall also consider and approve the proposal of raising of funds.
Interim Dividend - Rs 2 Per Share
Latest News
All newsWaaree Energies to merge Indosolar in $100M deal
*Waaree Energies to merge Indosolar in $100M deal*. The merger marks a significant consolidation in India’s solar sector. **$100 million** transaction value highlights scale. This move strengthens Waaree’s vertical integration and market position. 📊 *STOCKS:* $WAAREE | 🏢 *SECTOR:* CapitalMarkets | #HIGHIMPACT #Mergers
Waaree wins solar project orders worth **₹1,200 crore**
*Waaree wins solar project orders worth **₹1,200 crore***. The company received a Letter of Award for engineering, procurement, and construction of solar projects. This strengthens its order book amid rising renewable energy demand. The project execution is expected within 12–18 months. 📊 *STOCKS:* $WAAREE | 🏢 *SECTOR:* Energy | #MEDIUMIMPACT #Orders
Waaree wins solar project orders worth **₹1,200 crore**
*Waaree wins solar project orders worth **₹1,200 crore***. The company has secured major EPC contracts for utility-scale solar projects across Rajasthan and Gujarat. This order inflow strengthens its execution pipeline and enhances revenue visibility for FY25. 📊 *STOCKS:* WAAREE | 🏢 *SECTOR:* Energy | #MEDIUMIMPACT #Solar
Waaree Secures New Solar Project Orders
*Waaree Secures New Solar Project Orders* — Waaree Energies has announced the receipt of new orders for solar projects, boosting its order book. The contracts enhance near-term revenue visibility and reflect growing demand for renewable energy solutions. No financial details were disclosed. 📊 *STOCKS:* WAAREE | 🏢 *SECTOR:* Energy | #MEDIUMIMPACT #Solar
Waaree Energies shares may react to investor presentation
*Waaree Energies shares may react to investor presentation.* The company filed an investor presentation with the NSE, likely outlining business strategy and growth plans. Such filings often precede major announcements like an IPO or fundraising. Traders may monitor **WAAREE** for volatility ahead of potential disclosures. 📊 *STOCKS:* $WAAREE | 🏢 *SECTOR:* CapitalMarkets | #LOWIMPACT #InvestorPresentation
Waaree Energies announces 36th Annual General Meeting details
*Waaree Energies announces 36th Annual General Meeting and e-voting details.* The notice includes date, time, and voting procedures for shareholders. No financial updates or strategic shifts disclosed. Routine corporate filing for investor awareness. 📊 *STOCKS:* $WAAREE | 🏢 *SECTOR:* CapitalMarkets | #LOWIMPACT #AGM
Waaree Energies approves $37M US capex, India site consolidation
*Waaree Energies approves $37M capex for US operations and consolidates Indian sites.* This move strengthens its global footprint and operational efficiency. The investment underscores commitment to renewable energy expansion. Site consolidation may lead to cost optimization and improved margins. 📊 *STOCKS:* $WAAREE | 🏢 *SECTOR:* Energy | #MEDIUMIMPACT #Capex
Waaree Energies shares impacted by SEBI listing regulation update
*Waaree Energies shares impacted by SEBI listing regulation update.* The company filed updates under SEBI (LODR) Regulations, 2015, indicating routine compliance disclosures. No financial impact or operational changes were specified in the filing. Such updates are standard for listed entities. 📊 *STOCKS:* $WAAREE | 🏢 *SECTOR:* CapitalMarkets | #LOWIMPACT #Regulation
Waaree Energies shares surge on investor presentation
*Waaree Energies shares rise after investor presentation.* The company highlighted its solar manufacturing capacity of **8 GW** and plans for expansion. Recent order wins worth **₹1,200 crore** underscore growing demand. Financials show revenue up **32% YoY** in latest quarter. 📊 *STOCKS:* $WAAREE | 🏢 *SECTOR:* Energy | #LOWIMPACT #Solar
Waaree wins 800 MW solar module supply order
*Waaree wins 800 MW solar module supply order* — Waaree Energies has secured an order for 800 megawatts of solar modules, boosting investor sentiment. The company's shares rose on the news, reflecting confidence in its growing order book. This win strengthens its position in India’s expanding solar market. 📊 *STOCKS:* WAAREE | 🏢 *SECTOR:* Energy | #MEDIUMIMPACT #Solar
Financials
Quarterly Results
| Metric | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 | Jun 2024 | Mar 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | ₹7.6K Cr 24.7% | ₹6.1K Cr 37.1% | ₹4.4K Cr 10.5% | ₹4.0K Cr 15.8% | ₹3.5K Cr 3.3% | ₹3.6K Cr 4.8% | ₹3.4K Cr 16.1% | ₹2.9K Cr |
| Op. Profit | ₹1.9K Cr 37.1% | ₹1.4K Cr 41.0% | ₹997 Cr 8.0% | ₹923 Cr 27.8% | ₹722 Cr 37.5% | ₹525 Cr 4.9% | ₹552 Cr 32.1% | ₹418 Cr |
| OPM | 25.0% 8.7% | 23.0% 0.0% | 23.0% 0.0% | 23.0% 9.5% | 21.0% 40.0% | 15.0% 6.3% | 16.0% 14.3% | 14.0% |
| Net Profit | ₹1.1K Cr 26.1% | ₹878 Cr 13.6% | ₹773 Cr 20.0% | ₹644 Cr 27.0% | ₹507 Cr 34.8% | ₹376 Cr 6.2% | ₹401 Cr 15.6% | ₹475 Cr |
| EPS (₹) | 36.94 26.1% | 29.29 12.9% | 25.94 20.4% | 21.54 25.6% | 17.15 24.9% | 13.73 31.3% | 19.99 14.6% | 23.41 |
Values in ₹ Cr · Source: Screener.in
Annual Profit & Loss
| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 |
|---|---|---|---|---|---|---|---|
| Revenue | ₹26.5K Cr 83.7% | ₹14.4K Cr 26.7% | ₹11.4K Cr 68.8% | ₹6.8K Cr 136.5% | ₹2.9K Cr 46.1% | ₹2.0K Cr 2.2% | ₹2.0K Cr |
| Expenses | ₹20.6K Cr 76.0% | ₹11.7K Cr 19.3% | ₹9.8K Cr 66.1% | ₹5.9K Cr 115.2% | ₹2.7K Cr 47.1% | ₹1.9K Cr 1.8% | ₹1.9K Cr |
| Op. Profit | ₹5.9K Cr 117.1% | ₹2.7K Cr 72.9% | ₹1.6K Cr 88.3% | ₹836 Cr 688.7% | ₹106 Cr 24.7% | ₹85 Cr 8.6% | ₹93 Cr |
| OPM | 22.0% 15.8% | 19.0% 35.7% | 14.0% 16.7% | 12.0% 224.3% | 3.7% 14.0% | 4.3% 8.5% | 4.7% |
| Other Income | ₹413 Cr 3.8% | ₹398 Cr 30.9% | ₹576 Cr 554.5% | ₹88 Cr 9.3% | ₹97 Cr 115.6% | ₹45 Cr 80.0% | ₹25 Cr |
| Interest | ₹280 Cr 84.2% | ₹152 Cr 8.6% | ₹140 Cr 70.7% | ₹82 Cr 100.0% | ₹41 Cr 32.3% | ₹31 Cr 8.8% | ₹34 Cr |
| Depreciation | ₹990 Cr 146.3% | ₹402 Cr 45.1% | ₹277 Cr 68.9% | ₹164 Cr 281.4% | ₹43 Cr 48.3% | ₹29 Cr 7.4% | ₹27 Cr |
| PBT | ₹5.1K Cr 97.0% | ₹2.6K Cr 47.9% | ₹1.7K Cr 156.1% | ₹677 Cr 473.7% | ₹118 Cr 68.6% | ₹70 Cr 22.8% | ₹57 Cr |
| Tax % | 23.0% 8.0% | 25.0% 7.4% | 27.0% 3.8% | 26.0% 21.2% | 33.0% 6.5% | 31.0% 0.0% | 31.0% |
| Net Profit | ₹3.9K Cr 101.5% | ₹1.9K Cr 51.3% | ₹1.3K Cr 154.8% | ₹500 Cr 525.0% | ₹80 Cr 66.7% | ₹48 Cr 23.1% | ₹39 Cr |
| EPS (₹) | 129.02 98.5% | 65 3.6% | 62.76 156.3% | 24.49 537.8% | 3.84 53.6% | 2.5 17.9% | 2.12 |
| Div Payout | 3.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Values in ₹ Cr · Source: Screener.in
Balance Sheet
| Item | Mar 2026 | Sep 2025 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 |
|---|---|---|---|---|---|---|---|---|
Liabilities | ||||||||
| Equity Capital | ₹288 Cr 0.0% | ₹288 Cr 0.3% | ₹287 Cr 9.1% | ₹263 Cr 8.2% | ₹243 Cr 23.4% | ₹197 Cr 0.0% | ₹197 Cr 0.0% | ₹197 Cr |
| Reserves | ₹14.2K Cr 26.4% | ₹11.2K Cr 21.8% | ₹9.2K Cr 140.3% | ₹3.8K Cr 139.8% | ₹1.6K Cr 590.5% | ₹231 Cr 56.1% | ₹148 Cr 46.5% | ₹101 Cr |
| Borrowings | ₹3.2K Cr 9.2% | ₹2.9K Cr 145.3% | ₹1.2K Cr 116.8% | ₹553 Cr 72.8% | ₹320 Cr 11.8% | ₹363 Cr 6.8% | ₹340 Cr 116.6% | ₹157 Cr |
| Other Liabilities | ₹12.3K Cr 20.9% | ₹10.2K Cr 16.3% | ₹8.8K Cr 32.1% | ₹6.6K Cr 26.5% | ₹5.2K Cr 285.2% | ₹1.4K Cr 128.5% | ₹596 Cr 23.4% | ₹483 Cr |
| Total Liabilities | ₹30.0K Cr 21.8% | ₹24.6K Cr 26.6% | ₹19.4K Cr 72.4% | ₹11.3K Cr 52.3% | ₹7.4K Cr 243.8% | ₹2.2K Cr 68.1% | ₹1.3K Cr 36.6% | ₹938 Cr |
Assets | ||||||||
| Fixed Assets | ₹7.3K Cr 18.6% | ₹6.2K Cr 53.5% | ₹4.0K Cr 177.7% | ₹1.4K Cr 31.2% | ₹1.1K Cr 76.8% | ₹625 Cr 119.3% | ₹285 Cr 87.5% | ₹152 Cr |
| CWIP | ₹3.5K Cr 83.6% | ₹1.9K Cr 0.5% | ₹1.9K Cr 40.5% | ₹1.3K Cr 149.7% | ₹537 Cr 333.1% | ₹124 Cr 4033.3% | ₹3 Cr 92.5% | ₹40 Cr |
| Investments | ₹953 Cr 275.2% | ₹254 Cr 290.8% | ₹65 Cr 8.5% | ₹71 Cr 129.0% | ₹31 Cr 78.3% | ₹143 Cr 24.3% | ₹115 Cr 35.3% | ₹85 Cr |
| Other Assets | ₹18.2K Cr 11.8% | ₹16.3K Cr 21.0% | ₹13.5K Cr 60.1% | ₹8.4K Cr 46.8% | ₹5.7K Cr 354.2% | ₹1.3K Cr 43.7% | ₹878 Cr 32.8% | ₹661 Cr |
| Total Assets | ₹30.0K Cr 21.8% | ₹24.6K Cr 26.6% | ₹19.4K Cr 72.4% | ₹11.3K Cr 52.3% | ₹7.4K Cr 243.8% | ₹2.2K Cr 68.1% | ₹1.3K Cr 36.6% | ₹938 Cr |
Values in ₹ Cr · Source: Screener.in
Cash Flow Statement
| Item | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 |
|---|---|---|---|---|---|---|---|
| Operating CF | ₹1.6K Cr 48.5% | ₹3.2K Cr 37.0% | ₹2.3K Cr 47.8% | ₹1.6K Cr 123.5% | ₹698 Cr 941.8% | ₹67 Cr 19.3% | ₹83 Cr |
| Investing CF | ₹-3.9K Cr 42.2% | ₹-6.8K Cr 103.4% | ₹-3.3K Cr 60.2% | ₹-2.1K Cr 210.3% | ₹-673 Cr 169.2% | ₹-250 Cr 1036.4% | ₹-22 Cr |
| Financing CF | ₹2.6K Cr 36.2% | ₹4.0K Cr 344.0% | ₹909 Cr 41.6% | ₹642 Cr 535.6% | ₹101 Cr 37.3% | ₹161 Cr 422.0% | ₹-50 Cr |
| Net Cash Flow | ₹264 Cr 32.0% | ₹388 Cr 393.9% | ₹-132 Cr 215.8% | ₹114 Cr 9.5% | ₹126 Cr 700.0% | ₹-21 Cr 275.0% | ₹12 Cr |
| Free Cash Flow | ₹-3.2K Cr 2714.9% | ₹-114 Cr 111.8% | ₹968 Cr 38.7% | ₹698 Cr 245.5% | ₹202 Cr 677.1% | ₹-35 Cr 209.4% | ₹32 Cr |
Values in ₹ Cr · Source: Screener.in
Key Ratios History
| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 |
|---|---|---|---|---|---|---|---|
| Debtor Days | 34d 25.9% | 27d 12.9% | 31d 82.4% | 17d 41.7% | 12d 45.5% | 22d 15.4% | 26d |
| Inventory Days | 129d 34.4% | 96d 11.1% | 108d 43.8% | 192d 125.9% | 85d 2.4% | 83d 53.7% | 54d |
| Days Payable | 79d 7.1% | 85d 1.2% | 84d 41.3% | 143d 72.3% | 83d 16.2% | 99d 47.8% | 67d |
| Cash Conv. Cycle | 84d 121.1% | 38d 30.9% | 55d 16.7% | 66d 371.4% | 14d 133.3% | 6d 53.8% | 13d |
| Working Capital Days | -35d 62.0% | -92d 130.0% | -40d 39.4% | -66d 21.4% | -84d 4300.0% | 2d 80.0% | 10d |
| ROCE | 38.0% 8.6% | 35.0% 20.5% | 44.0% 15.4% | 52.0% 147.6% | 21.0% 31.3% | 16.0% | — |
Source: Screener.in · Lower days = better efficiency
Deep Dive Analysis
About Waaree Energies Limited
Incorporated in December 1990, Waaree Energies Limited is an Indian manufacturer of solar PV modules with an aggregate installed capacity of 12 GW.[1]WEL has five solar module manufacturing facilities in India, with international presence.
Capital GoodsElectrical Equipment