Waaree Energies

    WAAREEENER
    Energy
    ₹2625.00
    price as of 11/9/2026, 5:45:46 pm

    Market cap ₹75,508 Cr

    P/E
    19.81
    Day range
    ₹2,515.10 – ₹2,635.00
    52-week range
    ₹2,403.00 – ₹3,865.00
    Volume
    10.67 L
    Open
    ₹2,543.30
    Prev close
    ₹2,548.00
    52-week range, adjusted for splits and bonuses
    ₹2,403₹3,865
    21 Jan 202612 Sept 2025
    Index membership & F&O
    NIFTY 200NIFTY 500NIFTY MIDCAP 150F&O lot 175

    Price history

    6M change -2.15%RSI (14) 47.4 NeutralSMA 20 · 50 overlaid

    Price & delivery on the exchange

    NSE bhavcopy to 11 Sept 2026 · delivery 49.3% today vs 37.1% average · BSE close ₹2,627.5

    1 Apr23 Apr15 May5 Jun24 Jun15 Jul3 Aug21 Aug11 Sept₹2,400₹2,700₹3,000₹3,300₹3,6000%25%50%75%100%
    • Delivery
    • NSE close
    • BSE close

    High delivery with a rising price suggests buyers holding rather than trading the move.

    Futures & options

    NSE F&O close, 11 Sept 2026 · options expiring 29 Sept 2026

    Neutral
    Near-month future
    ₹2,621.7
    Change
    +2.80%
    Basis over spot
    −₹3.32
    Futures OI (shares)
    67.9 L
    OI change
    -0.03%
    Put-call ratio
    0.48
    Max pain
    ₹2,650
    Resistance (call OI)
    ₹2,700
    Support (put OI)
    ₹2,600
    Lot size
    175

    Open interest by strike

    Calls open above (resistance) and puts below (support), in shares

    2100225023502450255026502750285029503050320002.0 L4.0 L6.0 L8.0 Lspot
    • Call OI
    • Put OI

    Futures open interest and price

    Near-month future, day by day since collection began

    The daily history builds from each close.

    Key metrics

    P/E (TTM)
    19.2
    EPS (TTM)
    ₹132.57
    ROE (FY26)
    32.5%
    ROCE (latest year)
    39%
    Dividend yield
    0.16%

    Charts & trends

    From company filings. Amounts in ₹ crore.

    Revenue 3Y CAGR
    +57.8%
    Profit 3Y CAGR
    +98.0%
    Revenue YoY (Jun 2026)
    +79.2%
    Profit YoY (Jun 2026)
    +15.4%
    Operating margin
    18.0%
    Net margin
    11.2%

    Revenue, profit & margin - quarterly

    Bars in ₹ crore (a loss shows red); line is operating margin

    Sep 2023Mar 2024Sep 2024Mar 2025Sep 2025Jun 20260 Cr2.5K Cr5.0K Cr7.5K Cr10.0K Cr0%7%14%21%28%
    • Revenue
    • Net profit
    • Operating margin

    Who owns the company

    Shareholding as of Jun 2026

    • Promoter
    • Public
    • FII
    • DII

    Cash flows

    Where cash came from and went, by fiscal year (₹ crore)

    Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026-7.0K Cr-3.5K Cr0 Cr3.5K Cr7.0K Cr
    • Operating
    • Investing
    • Financing
    • Free cash flow

    Return on equity

    Net profit over shareholders' equity, by fiscal year

    FY21FY22FY23FY24FY25FY260%15%30%45%60%15%

    Equity vs debt

    Shareholders' equity against borrowings (₹ crore); line is debt-to-equity

    Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 20260 Cr4.0K Cr8.0K Cr12.0K Cr16.0K Cr0.0x0.3x0.5x0.8x1.0x
    • Equity
    • Debt
    • Debt / equity

    Financial statements

    ₹ Crore
    Quarterly results, oldest period first, figures in rupees crore
    Line itemSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
    Sales3,5371,5962,9363,4093,5743,4574,0044,4266,0667,5658,4807,932
    Expenses3,0201,4252,5182,8563,0502,7363,0813,4294,6595,6376,9046,492
    Operating Profit5171714185525257229239971,4061,9281,5771,440
    OPM %15%11%14%16%15%21%23%23%23%25%19%18%
    Other Income21105364888988133171161-99180171
    Interest331848343131574396934870
    Depreciation717475768489153182240267301330
    Profit before tax4351846595314996908459431,2311,4691,4081,210
    Tax %26%23%28%24%25%27%24%18%29%25%20%26%
    Net Profit3201414754013765076447738781,1071,126892
    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 11 Sept 2026. Consolidated figures where the company reports them.Information only, not investment advice.

    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 31.2%

    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
    +100%
    TTM
    +81%

    Stock Price CAGR

    10 Years
    —
    5 Years
    —
    3 Years
    —
    1 Year
    -30%

    Return on Equity

    10 Years
    —
    5 Years
    +32%
    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

    Percentage of shares held by each category at each quarter end
    HolderSept 2025Dec 2025Mar 2026Jun 2026Change
    Promoter64.22%64.22%64.19%64.12%-0.07 pp
    FII6.35%6.91%7.06%8.57%+1.51 pp
    DII2.82%2.86%4.32%4.08%-0.24 pp
    Public26.60%26.01%24.44%23.23%-1.21 pp

    Filed with NSE for Jun 2026: promoters 64.12%, public 35.88% · XBRL filing

    Analysts & fund holdings

    75%
    75% recommend buy
    12 analysts cover the stock
    Valuation vs Semiconductors & Semiconductor Equipment
    P/E19.8 vs 45.8
    Sector P/B6.15

    Who holds the shares, quarter by quarter

    Mutual funds 2.81% (-0.17 pp)
    Mar 25
    Jun 25
    Sept 25
    Dec 25
    Mar 26
    Jun 26
    • Promoters64.1%
    • Foreign institutions8.6%
    • Mutual funds2.8%
    • Insurance0.2%
    • Other domestic institutions1.1%
    • Retail8.3%
    • Others15.0%
    Mutual funds holding the most
    Fund% of company% of fund3-month change
    Motilal Oswal Midcap Fund0.90%1.63%+0.59 pp
    Motilal Oswal Large & Midcap Fund0.81%3.11%-0.87 pp
    Motilal Oswal Flexi Cap Fund0.60%3.27%-0.79 pp
    Motilal Oswal ELSS Tax Saver Fund0.22%3.36%-0.84 pp
    Canara Rob Large and Mid Cap Fund0.06%0.17%-0.03 pp

    Scorecard

    Performance
    Low
    Valuation
    High
    Growth
    High
    Profitability
    High
    Entry point
    Good
    Red flags
    Low

    Analyst coverage, holdings and scorecard from market data; not a recommendation by Parasram India.

    Corporate actions

    • dividend
      ₹2.00

      Dividend - Rs 2 Per Share

      11 Sept 2026
      ex-date
    • dividend
      ₹2.00

      Interim Dividend - Rs 2 Per Share

      24 Oct 2025
      ex-date

    Bulk & block deals

    Large deals reported to NSE in this stock
    DateClientTypeQuantityPrice
    12 Sept 2025—Short sale45—

    Deals of more than 0.5% of shares (bulk), large single trades (block) and short sales, as NSE reports them.

    Company announcements

    Company Update
    Announcement under Regulation 30 (LODR)-Newspaper Publication

    Newspaper Advertisement regarding notice of the 36th Annual General Meeting and E-voting Information.

    Insider Trading / SAST
    Disclosures under Reg. 10(7) of SEBI (SAST) Regulations, 2011

    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, ....

    Company Update
    Letter Sent To The Shareholders

    Enclosed is the letter sent to the shareholders.

    Others
    Business Responsibility and Sustainability Reporting (BRSR)

    Business Responsibility and Sustainability Reporting (BRSR).

    Others
    Reg. 34 (1) Annual Report.

    Attached herewith Annual Report for FY 2025-26.

    AGM/EGMPrice-sensitive
    Enclosed Is The Notice Of The 36Th Annual General Meeting Of The Company To Be Held On September 24, 2026 At 11:00 A.M. (IST).

    Enclosed is the Notice of the 36th Annual General Meeting of the Company to be held on September 24, 2026 at 11:00 A.M. (IST).

    Company Update
    Announcement under Regulation 30 (LODR)-Newspaper Publication

    Enclosed is the Newspaper Publication regarding the Notice of the 36th Annual General Meeting.

    Company Update
    Consolidation Of The Company's Manufacturing Facilities From Tumb & Nandigram To The Company's Existing Manufacturing Facility At Chikhli, Gujarat

    Consolidation of the Company's Manufacturing facilities from Tumb & Nandigram to the company's existing manufacturing facility at Chikli, Gujarat.

    Corp. Action
    Record Date As Friday, September 11, 2026 For The Purpose Of Final Dividend.

    Record Date as Friday, September 11, 2026 for the purpose of Final Dividend.

    Company Update
    Announcement under Regulation 30 (LODR)-Retirement

    Completion of first term of (5) consecutive years of Ms. Richa Goyal as a Non Executive Independent Director of the Company.

    Company Update
    Announcement under Regulation 30 (LODR)-Change in Directorate

    Appointment of Ms. Mona Bhide as and Additional Non Executive Independent Director of the Company.

    Others
    Board Meeting Outcome for Outcome Of The Board Meeting Held Today I.E., Saturday, August 29, 2026.

    Outcome of the Board Meeting held today i.e., Saturday, August 29, 2026.

    Company UpdatePrice-sensitive
    Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order

    Intimation of Letter of Award.

    Company Update
    Disclosure Under Regulation 30 Of The SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015

    Disclosure under Regulation of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2018.

    Company Update
    Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation

    Intimation regarding Schedule of Analysts/Institutional Investors Meet scheduled to be held on August 27, 2026.

    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 2026
      Read 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 2024
      Read on SEBI

    Documents

    Annual reports

    Earnings calls

    Credit ratings

    Documents open at BSE or the rating agency that issued them.

    Sourced from the company's NSE XBRL filing dated 30 Jan 2025 (unaudited). View the source filing. Figures are as filed and are not investment advice.