Waaree Energies Ltd

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

Waaree Energies Ltd

₹ 2,323 4.19%
17 Apr - close price
waaree.com BSE: 544277 NSE: WAAREEENER
About

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.

Key Points

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.

Website BSE NSE
  • Market Cap ₹ 66,736 Cr.
  • Current Price ₹ 2,323
  • High / Low ₹ 3,743 / 1,809
  • Stock P/E 67.5
  • Book Value ₹ 169
  • Dividend Yield 0.00 %
  • ROCE 43.6 %
  • ROE 33.4 %
  • Face Value ₹ 10.0
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Pros

  • Company has a good return on equity (ROE) track record: 3 Years ROE 34.7%

Cons

  • Stock is trading at 13.8 times its book value
  • Though the company is reporting repeated profits, it is not paying out dividend
  • 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

Part of BSE Quality Index BSE IPO Nifty LargeMidcap 250 Nifty 500 Multicap 50:25:25 BSE LargeCap

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Jun 2023 Sep 2023 Dec 2023 Jun 2024 Sep 2024 Dec 2024
3,328 3,537 1,596 3,409 3,574 3,457
2,861 3,020 1,425 2,856 3,050 2,736
Operating Profit 468 517 171 552 525 722
OPM % 14% 15% 11% 16% 15% 21%
87 21 105 88 89 88
Interest 40 33 18 34 31 31
Depreciation 57 71 74 76 84 89
Profit before tax 457 435 184 531 499 690
Tax % 26% 26% 23% 24% 25% 27%
338 320 141 401 376 507
EPS in Rs 17.05 15.98 6.32 19.99 13.73 17.15
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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 31 41 82 140
Depreciation 27 29 43 164 277
Profit before tax 57 70 118 677 1,734
Tax % 31% 31% 33% 26% 27%
39 48 80 500 1,274
EPS in Rs 2.12 2.50 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: 180%
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 Sep 2024
Equity Capital 197 197 197 243 263 263
Reserves 101 148 231 1,595 3,825 4,583
157 340 363 320 553 985
483 596 1,362 5,247 6,635 8,204
Total Liabilities 938 1,281 2,154 7,406 11,277 14,035
152 285 625 1,105 1,450 1,637
CWIP 40 3 124 537 1,341 2,510
Investments 85 115 143 31 71 114
661 878 1,262 5,732 8,414 9,774
Total Assets 938 1,281 2,154 7,406 11,277 14,035

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
83 67 698 1,560 2,305
-22 -250 -673 -2,088 -3,346
-50 161 101 642 909
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 99 83 143 84
Cash Conversion Cycle 13 6 14 66 55
Working Capital Days 14 13 -67 -58 -33
ROCE % 16% 21% 52% 44%

Shareholding Pattern

Numbers in percentages

Dec 2024Mar 2025
64.31% 64.31%
1.40% 0.70%
2.70% 2.46%
31.58% 32.53%
No. of Shareholders 7,67,9638,51,028

* 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

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Annual reports

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Credit ratings

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