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 21.8x vs industry 52.7x)
- ✓Low debt relative to equity (D/E 0.2x)
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 | ₹4,568 | ₹3.0L Cr | 33 | 7.44 | 24 | 32 | 0 |
| BEL Bharat Electronics Limited | ₹407 | ₹3.0L Cr | 49.4 | 12.41 | 27.6 | 36.5 | 0 |
| ABB ABB India Limited | ₹7,530 | ₹1.6L Cr | 104 | 20.35 | 22.4 | 29.9 | 0.01 |
| TMCV Tata Motors Limited | ₹412 +0.59% | ₹1.5L Cr | 38.6 | 10.71 | 34 | 35.9 | 0.44 |
| CUMMINSIND Cummins India Limited | ₹5,590 | ₹1.5L Cr | 62.3 | 18.27 | 30.2 | 39.5 | 0 |
| BHEL Bharat Heavy Electricals Limited | ₹417 | ₹1.5L Cr | 60.4 | 5.55 | 6.23 | 9.14 | 0.45 |
| CGPOWER CG Power and Industrial Solutions Limited | ₹912 | ₹1.4L Cr | 118 | 18.02 | 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 news →Waaree 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 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 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