Waaree Renewables Technologies Ltd

Waaree Renewab. Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Waaree Renewables Technologies Ltd

₹ 2,088 -5.00%
18 May - close price
waaree.com BSE: 534618
About

Incorporated in 1999, Waaree Renewables Technologies Ltd is engaged in the business of generation of power through renewable energy sources and also provides consultancy services in this regard. [1] Waaree Energy is one of the largest vertically integrated new energy companies. It has India's largest Solar panel manufacturing capacity of 12GW at its plants in Chikhli, Surat and Umbergaon in Gujarat.

Key Points

Services
The Company has a renewable energy business with a focus on Solar PV, the primary focus being Solar Pumps, Solar Park, Captive Consumption, Floating Solar, and Rooftop Solar. It provides floating solar solutions, rooftop solar solutions and ground-mounted solar project EPC solutions. [1][2][3][4]
The company is the #1 Indian Module manufacturer

Website BSE
  • Market Cap ₹ 21,752 Cr.
  • Current Price ₹ 2,088
  • High / Low ₹ 3,038 / 157
  • Stock P/E 147
  • Book Value ₹ 22.3
  • Dividend Yield 0.01 %
  • ROCE 103 %
  • ROE 93.3 %
  • Face Value ₹ 2.00
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Pros

  • Company is expected to give good quarter
  • Company has delivered good profit growth of 145% CAGR over last 5 years
  • Company has a good return on equity (ROE) track record: 3 Years ROE 87.3%

Cons

  • Stock is trading at 93.6 times its book value
  • Company has high debtors of 155 days.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Infrastructure Developers & Operators Industry: Engineering - Turnkey Services

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
8 28 11 45 77 95 121 74 61 129 150 324 273
3 25 8 41 64 82 108 38 39 113 122 236 198
Operating Profit 5 4 3 4 12 13 13 36 22 16 28 88 75
OPM % 61% 13% 28% 10% 16% 14% 10% 48% 36% 12% 19% 27% 28%
1 0 7 0 0 1 0 0 0 1 1 0 1
Interest 2 3 2 1 1 1 1 1 2 1 2 0 4
Depreciation 1 1 1 1 1 1 1 1 1 1 1 2 2
Profit before tax 3 -0 8 3 11 12 11 34 20 15 25 87 72
Tax % 119% -490% 48% 92% 37% 16% 27% 27% 37% 27% 27% 26% 24%
-1 -2 4 0 7 10 8 25 12 11 18 64 54
EPS in Rs -0.10 -0.26 0.41 0.02 0.65 0.96 0.78 2.41 1.18 1.07 1.76 6.19 5.21
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
2 7 6 13 162 351 876
2 4 5 6 138 267 669
Operating Profit 0 3 1 7 24 84 207
OPM % 25% 45% 15% 54% 15% 24% 24%
0 1 1 2 8 2 3
Interest 0 2 3 4 7 5 7
Depreciation 0 1 1 2 4 3 5
Profit before tax 0 1 -3 3 21 77 198
Tax % 79% 334% -26% 170% 58% 28% 25%
0 -2 -3 -2 9 55 148
EPS in Rs 0.02 -0.38 -0.31 -0.23 0.83 5.32 14.22
Dividend Payout % 0% 0% 0% 0% 12% 4% 0%
Compounded Sales Growth
10 Years: %
5 Years: 162%
3 Years: 307%
TTM: 150%
Compounded Profit Growth
10 Years: %
5 Years: 145%
3 Years: 303%
TTM: 169%
Stock Price CAGR
10 Years: 96%
5 Years: 256%
3 Years: 395%
1 Year: 957%
Return on Equity
10 Years: %
5 Years: 73%
3 Years: 87%
Last Year: 93%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Equity Capital 10 10 21 21 21 21 21
Reserves 0 -1 5 1 9 64 211
0 37 40 117 42 39 41
5 48 56 62 96 159 441
Total Liabilities 16 95 122 202 168 283 714
4 32 30 155 73 74 157
CWIP 4 3 41 2 1 80 3
Investments 0 0 0 30 1 0 9
8 59 50 16 93 128 545
Total Assets 16 95 122 202 168 283 714

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
0 -7 51 -2 43 65 127
0 -28 -38 -105 9 -66 -114
0 35 14 81 -40 -9 -6
Net Cash Flow 0 0 27 -26 12 -10 6

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 74 214 87 174 105 64 155
Inventory Days
Days Payable
Cash Conversion Cycle 74 214 87 174 105 64 155
Working Capital Days -804 -513 -860 -381 -71 -33 5
ROCE % 7% 2% 6% 23% 84%

Shareholding Pattern

Numbers in percentages

Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
74.51% 74.51% 74.51% 74.51% 74.51% 74.51% 74.51% 74.51% 74.51% 74.48% 74.46% 74.46%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.20%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.09% 0.01%
25.49% 25.49% 25.49% 25.49% 25.49% 25.48% 25.49% 25.48% 25.49% 25.51% 25.43% 25.33%
No. of Shareholders 2,5613,5245,6888,0218,0378,8149,97211,12014,69824,84428,98586,482

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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Documents

Announcements

Annual reports

Concalls