Waaree Energies Ltd
Incorporated in December 1990, Waaree Energies Limited is an Indian manufacturer of solar PV modules with an aggregate installed capacity of 12 GW.[1]
- Market Cap ₹ 39,604 Cr.
- Current Price ₹ 2,339
- High / Low ₹ /
- Stock P/E 44.3
- Book Value ₹
- Dividend Yield %
- ROCE 39.8 %
- ROE 29.6 %
- Face Value ₹
Pros
- Company is almost debt free.
- Company has a good return on equity (ROE) track record: 3 Years ROE 31.2%
Cons
- Earnings include an other income of Rs.581 Cr.
* 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: Capital Goods - Electrical Equipment Industry: Electric Equipment
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
| Operating Profit |
| OPM % |
| Interest |
| Depreciation |
| Profit before tax |
| Tax % |
| EPS in Rs |
| Raw PDF |
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
|---|---|---|---|---|---|
| 2,027 | 1,993 | 2,771 | 6,533 | 10,718 | |
| 1,933 | 1,913 | 2,683 | 5,771 | 9,343 | |
| Operating Profit | 94 | 80 | 88 | 762 | 1,374 |
| OPM % | 5% | 4% | 3% | 12% | 13% |
| 24 | 41 | 81 | 87 | 581 | |
| Interest | 31 | 26 | 34 | 77 | 133 |
| Depreciation | 26 | 27 | 40 | 155 | 264 |
| Profit before tax | 61 | 68 | 96 | 618 | 1,558 |
| Tax % | 25% | 26% | 27% | 25% | 26% |
| 45 | 50 | 70 | 460 | 1,148 | |
| EPS in Rs | 2.30 | 2.55 | 3.53 | 23.34 | 58.25 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 75% |
| TTM: | 64% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 169% |
| TTM: | 90% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | % |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 31% |
| Last Year: | 30% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
|---|---|---|---|---|---|
| Equity Capital | 197 | 197 | 197 | 243 | 263 |
| Reserves | 106 | 154 | 231 | 1,700 | 3,840 |
| 116 | 165 | 321 | 240 | 334 | |
| 437 | 593 | 1,290 | 5,151 | 6,237 | |
| Total Liabilities | 856 | 1,109 | 2,039 | 7,333 | 10,674 |
| 0 | 126 | 548 | 920 | 1,012 | |
| CWIP | 0 | 1 | 123 | 453 | 1,207 |
| Investments | 120 | 47 | 176 | 254 | 285 |
| 736 | 934 | 1,192 | 5,706 | 8,171 | |
| Total Assets | 856 | 1,109 | 2,039 | 7,333 | 10,674 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
|---|---|---|---|---|---|
| 8 | 81 | 572 | 1,492 | 2,116 | |
| 26 | -151 | -523 | -2,241 | -3,252 | |
| -50 | 76 | 66 | 872 | 960 | |
| Net Cash Flow | -16 | 5 | 114 | 123 | -176 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
|---|---|---|---|---|---|
| Debtor Days | 29 | 21 | 10 | 18 | 27 |
| Inventory Days | 54 | 81 | 86 | 195 | 112 |
| Days Payable | 66 | 95 | 80 | 145 | 83 |
| Cash Conversion Cycle | 16 | 8 | 16 | 68 | 56 |
| Working Capital Days | 21 | 31 | -66 | -61 | -32 |
| ROCE % | 19% | 21% | 48% | 40% |
Documents
Announcements
Annual reports
No data available.
Market Leadership[1]
Waaree Energies is India’s largest manufacturer and exporter of solar modules. As of FY24, they hold 21% share of the domestic market for solar modules and 44% share in India's solar module exports. Its installed capacity surged from 2GW in FY21 to 13.3GW by FY24.