Waaree Renewable Technologies Limited Share Price & Analysis
Price Chart
Fundamentals
Strengths
- Excellent return on equity (ROE 68.9%)
- Efficient capital deployment (ROCE 83.6%)
- Attractively valued vs sector (P/E 17.6x vs industry 48.4x)
- Low debt relative to equity (D/E 0.2x)
- Near 52-week low — potential value zone (₹780)
Concerns
- High premium to book value (P/B 15.5x)
Peer Comparison
| Company | CMP | Mkt Cap | P/E | P/B | ROE % | ROCE % | D/E |
|---|---|---|---|---|---|---|---|
| HAL Hindustan Aeronautics Limited | ₹4,856 | ₹3.2L Cr | 34.8 | 7.91 | 24 | 32 | 0 |
| BEL Bharat Electronics Limited | ₹405 | ₹3.0L Cr | 48.2 | 12.36 | 27.4 | 36.4 | 0 |
| TMCV Tata Motors Limited | ₹475 −0.03% | ₹1.7L Cr | 22.7 | 10.71 | 34 | 35.9 | 0.44 |
| ABB ABB India Limited | ₹7,410 | ₹1.6L Cr | 102 | 16.8 | 22.4 | 29.9 | 0.02 |
| BHEL Bharat Heavy Electricals Limited | ₹431 | ₹1.5L Cr | 61.7 | 5.74 | 6.23 | 9.14 | 0.45 |
| SIEMENS Siemens Limited | ₹3,977 | ₹1.4L Cr | 94.2 | 10.22 | 19.2 | 21.4 | 0.01 |
| CGPOWER CG Power and Industrial Solutions Limited | ₹891 | ₹1.4L Cr | 110 | 17.61 | 20.5 | 26.7 | 0.02 |
Showing 7 peers in the same sector · Sorted by market cap
Shareholding Pattern
WAAREERTL · as of Mar 2026
| Category | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Promoters | 74.46% | 74.46% | 74.46% | 74.44% | 74.39% | 74.39% |
| FII | — | 0.20% | 0.83% | 0.98% | 0.99% | 1.13% |
| DII | 0.09% | 0.01% | 0.01% | — | 0.01% | 0.24% |
| Public | 25.43% | 25.33% | 24.69% | 24.58% | 24.60% | 24.25% |
Corporate Events
To consider and approve the financial results for the period ended Jun 30, 2026
Latest News
All newsWaaree RTL acquires APSPL for ₹1,225 crore
*Waaree RTL acquires APSPL for ₹1,225 crore* to enter the power infrastructure sector. This strategic move expands its footprint in the renewable energy value chain. The deal is one of the largest in the solar EPC space this year. 📊 *STOCKS:* WAAREE | 🏢 *SECTOR:* Energy | #HIGHIMPACT #Acquisition
Waaree bags new renewable energy orders
*Waaree bags new renewable energy orders* — Waaree Renewable Technologies has secured new orders for its renewable energy solutions, as per a corporate filing. The size and duration of the contracts were not disclosed. This order win reinforces its growing market presence in the solar sector. 📊 *STOCKS:* $WAAREE | 🏢 *SECTOR:* Renewables | #MEDIUMIMPACT #Renewables
Waaree bags multiple renewable energy orders.
*Waaree bags multiple renewable energy orders.* The company has secured several contracts in the solar energy segment, boosting its project pipeline. While exact values remain undisclosed, the wins are expected to enhance revenue visibility. New orders align with India’s growing renewable energy push. 📊 *STOCKS:* $WAAREE | 🏢 *SECTOR:* Energy | #MEDIUMIMPACT #Orders
Waaree Renewable acquires Associated Power Structures
*Waaree Renewable acquires Associated Power Structures.* The company has taken over APSPL, formerly known as Associated Power Structures Limited. This strategic move expands Waaree’s footprint in the renewable energy space. The acquisition strengthens its infrastructure portfolio ahead of planned capacity expansions. 📊 *STOCKS:* WAAREE | 🏢 *SECTOR:* CapitalMarkets | #MEDIUMIMPACT #Acquisition
Waaree Renewable acquires Associated Power Structures in strategic move
*Waaree Renewable acquires Associated Power Structures in strategic move.* Waaree Renewable Technologies has acquired Associated Power Structures Private Limited, marking a strategic expansion in the renewable energy space. The acquisition strengthens Waaree’s footprint in the solar infrastructure segment. Further details of the deal size or terms were not disclosed. 📊 *STOCKS:* WAAREE | 🏢 *SECTOR:* Corporate | #MEDIUMIMPACT #Acquisition
Waaree bags new renewable energy orders.
*Waaree bags new renewable energy orders.* The company has secured fresh contracts in the renewable space, boosting its order book. While financial details weren't disclosed, the win reinforces its market presence. Such orders may positively influence near-term revenue visibility. 📊 *STOCKS:* WAAREE | 🏢 *SECTOR:* CapitalMarkets | #MEDIUMIMPACT #Orders
Waaree wins 291 MWp solar and 280 MWh BESS project
*Waaree wins 291 MWp solar and 280 MWh BESS project.* The company has secured a letter of award for a **291 MWp solar PV** and **280 MWh battery energy storage system (BESS)** project, marking a strategic expansion in integrated renewable energy solutions. This order strengthens its position in India’s clean energy transition and may drive future revenue growth. 📊 *STOCKS:* $WAAREE | 🏢 *SECTOR:* Energy | #MEDIUMIMPACT #Solar
Waaree Renewable publishes mandatory corporate notice in newspaper
*Waaree Renewable publishes mandatory corporate notice in newspaper.* This is a routine compliance requirement under corporate regulations. No financial or operational details disclosed. Such filings are standard and non-material for trading decisions. 📊 *STOCKS:* | 🏢 *SECTOR:* CapitalMarkets | #LOWIMPACT #CorporateFiling
Waaree Renewable wins 124 MWp solar EPC order
*Waaree Renewable wins 124 MWp solar EPC order.* The company has secured a Letter of Award (LOA) for engineering, procurement, and construction of a **124 MWp** solar project. This order strengthens its position in India’s growing renewable energy sector. Financial terms were not disclosed. 📊 *STOCKS:* WAAREE | 🏢 *SECTOR:* CapitalMarkets | #MEDIUMIMPACT #Solar
Waaree Renewable to buy 55% in Associated Power Structures
*Waaree Renewable to buy 55% in Associated Power Structures* — Waaree Renewable Technologies has announced the acquisition of a **55% stake** in Associated Power Structures, a move aimed at strengthening its footprint in the renewable energy space. The deal underscores Waaree’s expansion strategy in the solar power infrastructure segment. Financial terms were not fully disclosed. 📊 *STOCKS:* WAAREE | 🏢 *SECTOR:* Energy | #MEDIUMIMPACT #Acquisition
Financials
Quarterly Results
| Metric | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 | Jun 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | ₹1.1K Cr 29.5% | ₹851 Cr 9.8% | ₹775 Cr 28.5% | ₹603 Cr 26.4% | ₹477 Cr 32.5% | ₹360 Cr 31.3% | ₹524 Cr 122.0% | ₹236 Cr |
| Op. Profit | ₹207 Cr 30.2% | ₹159 Cr 0.6% | ₹158 Cr 33.9% | ₹118 Cr 6.3% | ₹126 Cr 75.0% | ₹72 Cr 0.0% | ₹72 Cr 75.6% | ₹41 Cr |
| OPM | 19.0% 0.0% | 19.0% 5.0% | 20.0% 5.3% | 19.0% 29.6% | 27.0% 35.0% | 20.0% 42.9% | 14.0% 17.6% | 17.0% |
| Net Profit | ₹156 Cr 30.0% | ₹120 Cr 3.4% | ₹116 Cr 34.9% | ₹86 Cr 8.5% | ₹94 Cr 77.4% | ₹53 Cr 1.9% | ₹54 Cr 92.9% | ₹28 Cr |
| EPS (₹) | 14.93 29.6% | 11.52 3.2% | 11.16 34.6% | 8.29 7.9% | 9 75.4% | 5.13 0.2% | 5.14 89.0% | 2.72 |
Values in ₹ Cr · Source: Screener.in
Annual Profit & Loss
| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | ₹3.3K Cr 108.4% | ₹1.6K Cr 82.4% | ₹876 Cr 149.6% | ₹351 Cr 116.7% | ₹162 Cr 1146.2% | ₹13 Cr 116.7% | ₹6 Cr 14.3% | ₹7 Cr 250.0% | ₹2 Cr |
| Expenses | ₹2.7K Cr 109.0% | ₹1.3K Cr 92.4% | ₹669 Cr 150.6% | ₹267 Cr 93.5% | ₹138 Cr 2200.0% | ₹6 Cr 20.0% | ₹5 Cr 25.0% | ₹4 Cr 100.0% | ₹2 Cr |
| Op. Profit | ₹641 Cr 106.1% | ₹311 Cr 50.2% | ₹207 Cr 146.4% | ₹84 Cr 250.0% | ₹24 Cr 242.9% | ₹7 Cr 600.0% | ₹1 Cr 66.7% | ₹3 Cr | ₹0 Cr |
| OPM | 19.0% 0.0% | 19.0% 20.8% | 24.0% 0.0% | 24.0% 60.0% | 15.0% 72.2% | 54.0% 260.0% | 15.0% 66.7% | 45.0% 80.0% | 25.0% |
| Other Income | ₹20 Cr 81.8% | ₹11 Cr 175.0% | ₹4 Cr 100.0% | ₹2 Cr 75.0% | ₹8 Cr 300.0% | ₹2 Cr 100.0% | ₹1 Cr 0.0% | ₹1 Cr | ₹0 Cr |
| Interest | ₹13 Cr 13.3% | ₹15 Cr 114.3% | ₹7 Cr 40.0% | ₹5 Cr 28.6% | ₹7 Cr 75.0% | ₹4 Cr 33.3% | ₹3 Cr 50.0% | ₹2 Cr | ₹0 Cr |
| Depreciation | ₹9 Cr 50.0% | ₹6 Cr 0.0% | ₹6 Cr 100.0% | ₹3 Cr 25.0% | ₹4 Cr 100.0% | ₹2 Cr 100.0% | ₹1 Cr 0.0% | ₹1 Cr | ₹0 Cr |
| PBT | ₹640 Cr 113.3% | ₹300 Cr 51.5% | ₹198 Cr 157.1% | ₹77 Cr 266.7% | ₹21 Cr 600.0% | ₹3 Cr 200.0% | ₹-3 Cr 400.0% | ₹1 Cr | ₹0 Cr |
| Tax % | 25.0% 4.2% | 24.0% 11.1% | 27.0% 3.6% | 28.0% 51.7% | 58.0% 65.9% | 170.0% 553.8% | 26.0% 92.2% | 334.0% 322.8% | 79.0% |
| Net Profit | ₹479 Cr 109.2% | ₹229 Cr 57.9% | ₹145 Cr 163.6% | ₹55 Cr 511.1% | ₹9 Cr 550.0% | ₹-2 Cr 33.3% | ₹-3 Cr 50.0% | ₹-2 Cr | ₹0 Cr |
| EPS (₹) | 45.88 108.7% | 21.98 57.6% | 13.95 162.2% | 5.32 541.0% | 0.83 460.9% | -0.23 25.8% | -0.31 18.4% | -0.38 2000.0% | 0.02 |
| Div Payout | 0.0% 100.0% | 5.0% 28.6% | 7.0% 75.0% | 4.0% 66.7% | 12.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Values in ₹ Cr · Source: Screener.in
Balance Sheet
| Item | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 |
|---|---|---|---|---|---|---|---|---|---|
Liabilities | |||||||||
| Equity Capital | ₹21 Cr 0.0% | ₹21 Cr 0.0% | ₹21 Cr 0.0% | ₹21 Cr 0.0% | ₹21 Cr 0.0% | ₹21 Cr 0.0% | ₹21 Cr 110.0% | ₹10 Cr 0.0% | ₹10 Cr |
| Reserves | ₹913 Cr 109.9% | ₹435 Cr 92.5% | ₹226 Cr 253.1% | ₹64 Cr 611.1% | ₹9 Cr 800.0% | ₹1 Cr 80.0% | ₹5 Cr 600.0% | ₹-1 Cr | ₹0 Cr |
| Borrowings | ₹146 Cr 440.7% | ₹27 Cr 32.5% | ₹40 Cr 2.6% | ₹39 Cr 7.1% | ₹42 Cr 64.1% | ₹117 Cr 192.5% | ₹40 Cr 8.1% | ₹37 Cr | ₹0 Cr |
| Other Liabilities | ₹1.3K Cr 103.1% | ₹637 Cr 49.2% | ₹427 Cr 168.6% | ₹159 Cr 65.6% | ₹96 Cr 54.8% | ₹62 Cr 10.7% | ₹56 Cr 16.7% | ₹48 Cr 860.0% | ₹5 Cr |
| Total Liabilities | ₹2.4K Cr 112.0% | ₹1.1K Cr 56.9% | ₹714 Cr 152.3% | ₹283 Cr 68.5% | ₹168 Cr 16.8% | ₹202 Cr 65.6% | ₹122 Cr 28.4% | ₹95 Cr 493.8% | ₹16 Cr |
Assets | |||||||||
| Fixed Assets | ₹272 Cr 37.4% | ₹198 Cr 26.1% | ₹157 Cr 112.2% | ₹74 Cr 1.4% | ₹73 Cr 52.9% | ₹155 Cr 416.7% | ₹30 Cr 6.3% | ₹32 Cr 700.0% | ₹4 Cr |
| CWIP | ₹178 Cr 217.9% | ₹56 Cr 1766.7% | ₹3 Cr 96.3% | ₹80 Cr 7900.0% | ₹1 Cr 50.0% | ₹2 Cr 95.1% | ₹41 Cr 1266.7% | ₹3 Cr 25.0% | ₹4 Cr |
| Investments | ₹31 Cr 40.4% | ₹52 Cr 477.8% | ₹9 Cr | ₹0 Cr 100.0% | ₹1 Cr 96.7% | ₹30 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Other Assets | ₹1.9K Cr 132.6% | ₹814 Cr 49.4% | ₹545 Cr 325.8% | ₹128 Cr 37.6% | ₹93 Cr 481.3% | ₹16 Cr 68.0% | ₹50 Cr 15.3% | ₹59 Cr 637.5% | ₹8 Cr |
| Total Assets | ₹2.4K Cr 112.0% | ₹1.1K Cr 56.9% | ₹714 Cr 152.3% | ₹283 Cr 68.5% | ₹168 Cr 16.8% | ₹202 Cr 65.6% | ₹122 Cr 28.4% | ₹95 Cr 493.8% | ₹16 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 | Mar 2019 | Mar 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Operating CF | ₹287 Cr 5.3% | ₹303 Cr 136.7% | ₹128 Cr 96.9% | ₹65 Cr 51.2% | ₹43 Cr 2250.0% | ₹-2 Cr 103.9% | ₹51 Cr 828.6% | ₹-7 Cr | ₹0 Cr |
| Investing CF | ₹-264 Cr 11.4% | ₹-237 Cr 107.9% | ₹-114 Cr 72.7% | ₹-66 Cr 833.3% | ₹9 Cr 108.6% | ₹-105 Cr 176.3% | ₹-38 Cr 35.7% | ₹-28 Cr | ₹0 Cr |
| Financing CF | ₹23 Cr 146.9% | ₹-49 Cr 600.0% | ₹-7 Cr 22.2% | ₹-9 Cr 77.5% | ₹-40 Cr 149.4% | ₹81 Cr 478.6% | ₹14 Cr 60.0% | ₹35 Cr | ₹0 Cr |
| Net Cash Flow | ₹45 Cr 164.7% | ₹17 Cr 183.3% | ₹6 Cr 160.0% | ₹-10 Cr 183.3% | ₹12 Cr 146.2% | ₹-26 Cr 196.3% | ₹27 Cr | ₹0 Cr | ₹0 Cr |
| Free Cash Flow | ₹164 Cr 18.4% | ₹201 Cr 71.8% | ₹117 Cr 750.0% | ₹-18 Cr 150.0% | ₹36 Cr 140.4% | ₹-89 Cr 909.1% | ₹11 Cr 131.4% | ₹-35 Cr | ₹0 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 | Mar 2019 | Mar 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 128d 12.3% | 114d 26.5% | 155d 142.2% | 64d 39.0% | 105d 39.7% | 174d 100.0% | 87d 59.3% | 214d 189.2% | 74d |
| Inventory Days | 16d 700.0% | 2d 88.2% | 17d 67.9% | 53d 960.0% | 5d 88.6% | 44d | — | — | — |
| Days Payable | 108d 56.5% | 69d 58.9% | 168d 55.6% | 108d 34.1% | 164d 71.6% | 578d | — | — | — |
| Cash Conv. Cycle | 37d 21.3% | 47d 1466.7% | 3d 66.7% | 9d 116.7% | -54d 85.0% | -361d 514.9% | 87d 59.3% | 214d 189.2% | 74d |
| Working Capital Days | 11d 200.0% | -11d | 0d 100.0% | -42d 53.8% | -91d 80.2% | -460d 56.6% | -1059d 106.4% | -513d 39.6% | -849d |
| ROCE | 84.0% 2.4% | 82.0% 18.0% | 100.0% 19.0% | 84.0% 265.2% | 23.0% 283.3% | 6.0% 200.0% | 2.0% 71.4% | 7.0% | — |
Source: Screener.in · Lower days = better efficiency