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 ₹ 43,179 Cr.
- Current Price ₹ 2,339
- High / Low ₹ 2,624 / 2,295
- Stock P/E 43.7
- Book Value ₹
- Dividend Yield 0.00 %
- ROCE 43.6 %
- ROE 33.4 %
- Face Value ₹ 10.0
Pros
- Company has a good return on equity (ROE) track record: 3 Years ROE 34.7%
Cons
- Earnings include an other income of Rs.576 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
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
|---|---|---|---|---|---|
| 1,996 | 1,953 | 2,854 | 6,751 | 11,398 | |
| 1,903 | 1,868 | 2,748 | 5,915 | 9,823 | |
| Operating Profit | 93 | 85 | 106 | 836 | 1,575 |
| OPM % | 5% | 4% | 4% | 12% | 14% |
| 25 | 45 | 97 | 88 | 576 | |
| Interest | 34 | 30 | 41 | 82 | 140 |
| Depreciation | 27 | 29 | 43 | 164 | 277 |
| Profit before tax | 57 | 71 | 118 | 677 | 1,734 |
| Tax % | 31% | 33% | 33% | 26% | 27% |
| 39 | 48 | 80 | 500 | 1,274 | |
| EPS in Rs | 2.12 | 2.46 | 3.84 | 24.49 | 62.76 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 80% |
| TTM: | 69% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 181% |
| TTM: | 100% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | % |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 35% |
| Last Year: | 33% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
|---|---|---|---|---|---|
| Equity Capital | 197 | 197 | 197 | 243 | 263 |
| Reserves | 101 | 148 | 231 | 1,595 | 3,825 |
| 157 | 290 | 363 | 320 | 553 | |
| 483 | 646 | 1,362 | 5,247 | 6,635 | |
| Total Liabilities | 938 | 1,280 | 2,154 | 7,406 | 11,277 |
| 152 | 285 | 625 | 1,105 | 1,450 | |
| CWIP | 40 | 3 | 124 | 537 | 1,341 |
| Investments | 85 | 115 | 143 | 31 | 71 |
| 661 | 878 | 1,262 | 5,732 | 8,414 | |
| Total Assets | 938 | 1,280 | 2,154 | 7,406 | 11,277 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
|---|---|---|---|---|---|
| 83 | 68 | 698 | 1,560 | 2,305 | |
| -22 | -227 | -673 | -2,088 | -3,346 | |
| -50 | 138 | 101 | 642 | 909 | |
| Net Cash Flow | 12 | -21 | 126 | 114 | -132 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
|---|---|---|---|---|---|
| Debtor Days | 26 | 22 | 12 | 17 | 31 |
| Inventory Days | 54 | 83 | 85 | 192 | 108 |
| Days Payable | 67 | 98 | 83 | 143 | 84 |
| Cash Conversion Cycle | 13 | 7 | 14 | 66 | 55 |
| Working Capital Days | 14 | 19 | -67 | -58 | -33 |
| ROCE % | 16% | 21% | 52% | 44% |
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.