Waaree Energies
Market cap ₹67,739 Cr
- P/E
- 18.41
- Day range
- ₹2,295.00 – ₹2,367.00
- 52-week range
- ₹2,281.80 – ₹3,643.00
- Volume
- 7.57 L
- Open
- ₹2,367.00
- Prev close
- ₹2,370.00
Latest results · Q1 FY27(consolidated)Revenue ₹7,932 Cr+79.2%Profit ₹892 Cr+15.4%Margin 11.2%YoY vs the same quarter last year
No red flags in exchange filings: no rising pledge, promoter selling, surveillance or critical filing on record.
WAAREEENER in NSE indices and F&O
F&O margin for one lot of WAAREEENER (175 shares)Research profile
Composite 47 / 100Factor percentiles
Derived metrics
- Earn. yield
- 5.4%
- Graham no.
- ₹1,258.27
- vs Graham
- -46.6%
- ROE ÷ P/B
- 6.9%
- 12-1 mom.
- -26.6%
- Return / vol
- -0.85
- Magic Formula
- #27
- FCF yield
- -4.8%
Appears in 11 scans
Percentiles rank this stock against the other tracked stocks and change as they do. Scans describe where figures sit today. Hover a label for its definition. Not investment advice.
Peer comparison
All 48 in Energy| Company | M-cap | P/E | P/B | ROE | ROCE | OPM | D/E | Sales YoY |
|---|---|---|---|---|---|---|---|---|
| Reliance IndustriesRELIANCE | ₹16.10 L Cr | 21.55 | 1.78 | 11.0% | 10.0% | 15.0% | 0.45 | +27.0% |
| Adani PowerADANIPOWER | ₹3.51 L Cr | 19.26 | 5.49 | 21.4% | 17.0% | 42.0% | 0.84 | +34.0% |
| NTPCNTPC | ₹2.89 L Cr | 10.41 | 1.42 | 14.2% | 9.0% | 32.0% | 1.33 | +7.8% |
| Oil & Natural Gas CorpONGC | ₹2.86 L Cr | 6.58 | 0.77 | 13.9% | 14.0% | 8.0% | 0.47 | +25.7% |
| Coal IndiaCOALINDIA | ₹2.45 L Cr | 7.85 | 2.09 | 28.1% | 35.0% | 26.0% | 0.12 | +7.8% |
| Power Grid CorpPOWERGRID | ₹2.30 L Cr | 14.47 | 2.29 | 16.5% | 9.0% | 82.0% | 1.47 | +2.7% |
| Adani Green EnergyADANIGREEN | ₹1.95 L Cr | 107.74 | 9.54 | 12.4% | 7.0% | 89.0% | 5.48 | +41.6% |
| Waaree EnergiesWAAREEENER | ₹67,739 Cr | 18.41 | 4.69 | 32.5% | 38.0% | 18.0% | 0.22 | +79.2% |
| Sector median | ₹38,531 Cr | 18.14 | 1.89 | 13.8% | 11.5% | 26.0% | 0.77 | +20.7% |
Sector as classified in the tracked universe; medians use every tracked Energy company, and P/E only profitable ones. Tinted figures beat the median.
Latest news
Updated 15d agoHeadlines about Waaree Energies from the last two weeks in the financial press. Stories belong to their publishers; Parasram India does not endorse them.
Key metrics
- P/E (TTM)
- 16.8
- EPS (TTM)
- ₹132.57
- Price / Book
- 4.69
- ROE (FY26)
- 32.5%
- ROCE (latest year)
- 38%
- Dividend yield
- 0.17%
Moving averages (NSE)
- 20-day
- ₹2,426.77
- Price below
- 50-day
- ₹2,538.62
- Price below
- 200-day
- ₹2,848.8
- Price below
Charts & trends
From company filings. Amounts in ₹ crore.
Revenue, profit & margin - quarterly
₹ crore; a loss shows red. Operating margin below, same periods.
- Revenue
- Net profit
Operating margin
Who owns the company
% of equity by quarter, latest Sept 2026
- Promoter
- Public
- FII
- DII
Cash flows
Where cash came from and went, by fiscal year (₹ crore)
- Operating
- Investing
- Financing
- Free cash flow
Return on equity
Net profit over shareholders' equity, by fiscal year
Equity vs debt
Shareholders' equity against borrowings (₹ crore); the ratio below, same years.
- Equity
- Debt
Debt to equity
Financial statements
| Line item | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 3,537 | 1,596 | 2,936 | 3,409 | 3,574 | 3,457 | 4,004 | 4,426 | 6,066 | 7,565 | 8,480 | 7,932 |
| Expenses | 3,020 | 1,425 | 2,518 | 2,856 | 3,050 | 2,736 | 3,081 | 3,429 | 4,659 | 5,637 | 6,904 | 6,492 |
| Operating Profit | 517 | 171 | 418 | 552 | 525 | 722 | 923 | 997 | 1,406 | 1,928 | 1,577 | 1,440 |
| OPM % | 15% | 11% | 14% | 16% | 15% | 21% | 23% | 23% | 23% | 25% | 19% | 18% |
| Other Income | 21 | 105 | 364 | 88 | 89 | 88 | 133 | 171 | 161 | -99 | 180 | 171 |
| Interest | 33 | 18 | 48 | 34 | 31 | 31 | 57 | 43 | 96 | 93 | 48 | 70 |
| Depreciation | 71 | 74 | 75 | 76 | 84 | 89 | 153 | 182 | 240 | 267 | 301 | 330 |
| Profit before tax | 435 | 184 | 659 | 531 | 499 | 690 | 845 | 943 | 1,231 | 1,469 | 1,408 | 1,210 |
| Tax % | 26% | 23% | 28% | 24% | 25% | 27% | 24% | 18% | 29% | 25% | 20% | 26% |
| Net Profit | 320 | 141 | 475 | 401 | 376 | 507 | 644 | 773 | 878 | 1,107 | 1,126 | 892 |
| EPS in Rs | ₹15.98 | ₹6.32 | ₹23.41 | ₹19.99 | ₹13.73 | ₹17.15 | ₹21.54 | ₹25.94 | ₹29.29 | ₹36.94 | ₹36.89 | ₹29.56 |
From company filings, updated 25 Oct 2026. Consolidated figures where the company reports them. Information only, not investment advice.
Working-capital cycle
+12 days since Mar 2021
+46 days since Mar 2021
-20 days since Mar 2021
+78 days since Mar 2021
-37 days since Mar 2021
Strengths, risks & growth
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.
Strengths
- Company is expected to give good quarter
- Company has delivered good profit growth of 143% CAGR over last 5 years
- Company has a good return on equity (ROE) track record: 3 Years ROE 31.0%
Risks
None flagged by the checklist.
Compounded Sales Growth
- 10 Years
- —
- 5 Years
- +69%
- 3 Years
- +58%
- TTM
- +94%
Compounded Profit Growth
- 10 Years
- —
- 5 Years
- +143%
- 3 Years
- +99%
- TTM
- +81%
Stock Price CAGR
- 10 Years
- —
- 5 Years
- —
- 3 Years
- —
- 1 Year
- -33%
Return on Equity
- 10 Years
- —
- 5 Years
- +31%
- 3 Years
- +31%
- Last Year
- +33%
Strengths and risks are a machine-generated checklist, not advice; growth is compounded annually over each period.
Shareholding pattern
| Holder | Dec 2025 | Mar 2026 | Jun 2026 | Sept 2026 | Change |
|---|---|---|---|---|---|
| Promoter | 64.22% | 64.19% | 64.12% | 64.12% | 0.00 pp |
| FII | 6.91% | 7.06% | 8.57% | 8.57% | 0.00 pp |
| DII | 2.86% | 4.32% | 4.08% | 4.09% | +0.01 pp |
| Public | 26.01% | 24.44% | 23.23% | 23.22% | -0.01 pp |
Filed with NSE for Sept 2026: promoters 64.12%, public 35.88% · XBRL filing
Analysts & fund holdings
Who holds the shares, quarter by quarter
Mutual funds 2.71% (-0.10 pp)- Promoters64.1%
- Foreign institutions8.6%
- Mutual funds2.7%
- Insurance0.1%
- Other domestic institutions1.3%
- Retail9.3%
- Others14.0%
| Fund | % of company | % of fund | 3-month change |
|---|---|---|---|
| Motilal Oswal Midcap Fund | 0.83% | 1.43% | -0.48 pp |
| Motilal Oswal Large & Midcap Fund | 0.69% | 2.56% | -0.86 pp |
| Motilal Oswal Flexi Cap Fund | 0.55% | 3.00% | -0.77 pp |
| Motilal Oswal ELSS Tax Saver Fund | 0.19% | 2.91% | -0.72 pp |
| Aditya Birla SL Midcap Fund | 0.04% | 0.43% | +0.21 pp |
Scorecard
- Performance
- Low
- Valuation
- High
- Growth
- Avg
- Profitability
- High
- Entry point
- Good
- Red flags
- Low
Analyst coverage, holdings and scorecard from market data; not a recommendation by Parasram India.
Risk & trend
From 274 daily sessions to 22 Oct 2026.
Risk
- Volatility (1Y)
- 35.8%
- Downside volatility
- 36.4%
- Worst 5% of days
- 3.3%
- Average of that tail
- 5.3%
- Max drawdown (1Y)
- 38.0%
- Below its peak
- 36.6%
Against the market
- Beta vs Nifty 50
- 0.91
- Correlation
- 0.34
- Relative strength (3M)
- -6.7%
- ATR (14)
- 3.2%
Return
- Return 1M
- -5.2%
- Return 3M
- -12.1%
- Return 6M
- -31.8%
- Return 1Y
- -30.4%
- vs 200-day average
- -16.8%
Momentum
- RSI (14)
- 41.5
- MACD histogram
- 13.01
- Stochastic %K
- 29.9
- ADX (14)
- 26.9
- +DI / −DI
- 20.1 / 26.7
- Money flow index
- 59.5
Participation
- Delivery (20d avg)
- 42.6%
- vs its 60-day baseline
- -0.7 pts
- Volume vs 20-day
- +0.1σ
- Close vs day's VWAP
- -0.3%
- 52-week position
- 4 / 100
These describe what this stock's price has already done. They are not forecasts, signals or recommendations, and a dash means the figure was withheld for want of enough history rather than being zero.
Financial quality
From consolidated statements to 31 Mar 2026.
No F-Score: it needs two reporting periods a year apart that carry both an income statement and a balance sheet, and this company's filings do not yet line up that way. The ratios below need only the one period and are unaffected.
- Free cash flow
- -₹3,255 Cr
- FCF yield
- -4.8%
- Cash conversion
- 0.42
- Accruals ratio
- 0.075
- Net debt
- ₹2,940 Cr
- Net debt / equity
- 0.20
- EV / sales
- 2.35
- Capex intensity
- 18.4%
Computed from filed statements, not filed themselves. A dash means an input was absent, and the score counts only the criteria that could actually be tested.
Corporate actions
- dividend₹2.00
Dividend - Rs 2 Per Share
11 Sept 2026ex-date - dividend₹2.00
Interim Dividend - Rs 2 Per Share
24 Oct 2025ex-date
Company announcements
Certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018 for the Quarter ended September 30, 2026.
Commencement of Commercial Production by Waaree Power Private Limited, a wholly owned subsidiary of the Company at Sarodhi, Valsad, Gujarat.
Closure of Trading Window.
Voting Results along with the Scrutiniser's Report for the 36th Annual General Meeting.
Enclosed is the Outcome of the 36th Annual General Meeting.
Intimation regarding Press Release dated September 24, 2026, titled " Waaree Clean Energy Solutions enters India's specialty gases market to power semiconductor and Solar manufacturing. "
Outcome of Board Meeting held on Wednesday, September 23, 2026 regarding Scheme of Amalgamation of Indosolar Limited with Waaree Energies Limited and their respective shareholders pursuant ....
Scheme of Amalgamation of Indosolar Limited with Waaree Energies Limited and their respective shareholders pursuant to Section 230 and 232 of the Companies Act, 2013.
Outcome of Board Meeting held today i.e., September 23, 2026 regarding Scheme of Amalgamation of Indosolar Limited with Waaree Energies Limited and their respective shareholders pursuant ....
Intimation regarding schedule of Analyst/ Institutional Investors meet scheduled to be held on Monday, September 28, 2026.
Intimation of Letter of Award.
Intimation regarding schedule of Analyst/ Institutional Investors meet scheduled to be held on Monday, September 21, 2026.
Newspaper Advertisement regarding notice of the 36th Annual General Meeting and E-voting Information.
The Exchange has received the disclosure under Regulation 10(7) in respect of acquisition under Regulation 10(1)(a)(ii)of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, ....
Enclosed is the letter sent to the shareholders.
Filed with BSE (scrip 544277); the last 45 days. Documents open at bseindia.com.
SEBI filings & orders
From SEBI's website. An order may concern the company, its officers or trading in its shares, and may be under appeal - read the order itself. Personal identifiers are withheld.
Regulatory orders
- Order
Exemption Order in the matter of Waaree Energies Limited
3 Jul 2026Read on SEBI - Settlement order
SETTLEMENT ORDER IN THE SETTLEMENT APPLICATION NO. 7387/2023 FILED BY WAAREE ENERGIES LIMITED [PAN NO: IN THE MATTER OF WAAREE ENERGIES LIMITED
2 Jul 2024Read on SEBI
Documents
Annual reports
Earnings calls
- Aug 2026TranscriptSlidesRecording
- May 2026TranscriptSlidesRecording
- Apr 2026Slides
- Feb 2026Transcript
- Jan 2026TranscriptSlidesRecording
- Jan 2026Slides
Credit ratings
- Rating update · 5 Feb from care
- Rating update · 19 Mar 2025 from care
- Rating update · 3 Apr 2024 from care
- Rating update · 17 Feb 2023 from crisil
- Rating update · 13 Feb 2023 from crisil
- Rating update · 7 Feb 2023 from care
Documents open at BSE or the rating agency that issued them.
Sourced from the company's NSE XBRL filing dated 30 Jul 2026 (unaudited). View the source filing. Figures are as filed and are not investment advice.
Waaree Energies: common questions
Answered from the figures on this page.
