āagman

Not investment advice. Data and computed figures, for information only.

Waaree Energies Ltd

NSE: WAAREEENERF&O
₹2,565.40
+₹71.40 (+2.86%)
NSE · 16 Oct 2026, close
NSE
As of 31 Mar 2026
Market Cap
₹66,821 Cr
CMP
₹2,565.40
52-wk High / Low
₹3,719 / 2,282
P/E
16.6
P/B
4.6
Book Value
₹502.0
Div Yield
0.17%
ROCE
38.0%
ROE
32.5%
Face Value
₹10
D/E
0.22

Price−24.6% over 1Y

āagman read

Computed by āagman
Derived from 7 years and 13 quarters of filings. Not reported by the company.
As of 16 Oct 2026
How we compute these
Piotroski F-Score
5
/ 9
5 of 9 F-score tests passed
Graham Number
₹1,207
√(22.5 × EPS × book value per share)
ROIC
21.4%
vs 12.3% sector median
Cash flow to profit
0.42
CFO / PAT
Above 1.0 = operating cash flow exceeded reported profit
Margin change
−437
bps OPM YoY
Operating margin vs the same quarter last year
Sustainable growth
31.6%
ROE × earnings retention ratio
ROE stability
4.6
pp σ
Standard deviation of ROE across periods. Lower = more stable
Holder deltas
QoQ
pp
Prom −0.07FII +1.51DII −0.24
Latest quarter vs the previous one
Cash-accrual divergence
9.1%
of assets
Low = accruals track cash flow
Strengths
+ROCE has stayed above the sector median for 5 consecutive years (weakest: 21% vs the 2022 sector median of 17%)
+PE of 16.6x is below the sector median of 43.6x
Watch-outs
−Price trades below its 200-day moving average (0.9x)
−Price is 31.0% below its 52-week high

Peer comparison

Peers
NameP/EMar Cap ₹ CrROCE %ROE %

Quarterly results

Consolidated basis (as filed) · ₹ Cr · 13 quarters
As of 30 Jun 2026
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales3,3283,5371,5962,9363,4093,5743,4574,0044,4266,0667,5658,4807,932
Expenses2,8613,0201,4252,5182,8563,0502,7363,0813,4294,6595,6376,9046,492
Operating Profit4685171714185525257229239971,4061,9281,5771,440
OPM %14.1%14.6%10.7%14.2%16.2%14.7%20.9%23.1%22.5%23.2%25.5%18.6%18.2%
Other Income8721105364888988133171161−99180171
Interest40331848343131574396934870
Depreciation57717475768489153182240267301330
Profit before tax4574351846595314996908459431,2311,4691,4081,210
Net Profit3383201414754013765076447738781,1071,126892
EPS (₹)17.0515.986.3223.4119.9913.7317.1521.5425.9429.2936.9436.8929.56

Profit & Loss

As of 30 Jun 2026
Consolidated · ₹ Cr · 7 years + TTM
Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales1,9961,9532,8546,75111,39814,44426,53730,043
Expenses1,9031,8682,7485,9159,82311,72320,62823,692
Operating Profit93851068361,5742,7225,9096,351
OPM %4.7%4.4%3.7%12.4%13.8%18.8%22.3%21.1%
Other Income25459788576398413413
Interest34314182140152280308
Depreciation2729431642774029901,138
Profit before tax57701186771,7342,5655,0525,319
Net Profit3948805001,2741,9283,8844,003
EPS (₹)2.122.503.8424.4962.7665.00129.02132.68

Balance Sheet

As of 30 Jun 2026
Consolidated · ₹ Cr
Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Jun 2026
Equity Capital197197197243263287288—
Reserves1011482311,5953,8259,19214,150—
Borrowings1573403633205531,1993,213—
Other Liabilities4835961,3625,2476,6358,76612,335—
Total Liabilities9381,2812,1547,40611,27719,44429,985—
Fixed Assets1522856251,1051,4504,0267,328—
CWIP4031245371,3411,8843,477—
Investments85115143317165953—
Other Assets6618781,2625,7328,41413,46918,227—
Total Assets9381,2812,1547,40611,27719,44429,985—

Cash Flows

As of 31 Mar 2026
Consolidated · ₹ Cr
Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity83676981,5602,3053,1581,627
Cash from Investing Activity−22−250−673−2,088−3,346−6,806−3,936
Cash from Financing Activity−501611016429094,0362,573
Net Cash Flow12−21126114−132388264

Ratios

As of 31 Mar 2026
7 periods
Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %—16.021.052.044.035.038.0
ROE %——————32.5
EPS (₹)2.122.503.8424.4962.7665.00129.02
Book Value (₹)——————502.0
Face Value (₹)——————10
P/E——————16.6
Div Yield %——————0.17
NPM %1.92.42.77.310.613.014.4
OPM %4.74.33.712.014.019.022.0
D/E0.530.990.850.170.140.130.22
P/B——————4.6

Growth

As of 11 Oct 2026
Compounded sales growth
5 years+69.0%
3 years+58.0%
TTM+94.0%
Compounded profit growth
5 years+143.0%
3 years+99.0%
TTM+81.0%
Stock price CAGR
Last year−30.0%
Return on equity
5 years31.0%
3 years31.0%
Last year33.0%

Shareholding pattern

As of 30 Jun 2025
Dec 2024Mar 2025Jun 2025
Promoters64.31%64.19%64.12%
FIIs0.70%7.06%8.57%
DIIs2.46%4.32%4.08%
Government———
Public32.53%24.44%23.23%
No. of shareholders8,51,0286,83,3017,31,601
Change since Dec 2024 (pp)
Promoters −0.19FIIs +7.87DIIs +1.62Public −9.30

Documents

As of 11 Oct 2026
Announcements
Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018Commencement Of Commercial Production By Waaree Power Private Limited, A Wholly Owned Subsidiary Of The Company At Sarodhi, Valsad, Gujarat.Closure of Trading WindowVoting Results Along With The Scrutiniser''s Report For The 36Th Annual General Meeting.Shareholder Meeting / Postal Ballot-Outcome of AGM
Annual reports
Annual Report 2026Annual Report 2025
Credit ratings
Rating updateRating updateRating updateRating updateRating update
Concalls
Aug 2026TranscriptAug 2026PPTAug 2026RecordingMay 2026TranscriptMay 2026PPTMay 2026RecordingApr 2026PPTFeb 2026TranscriptJan 2026TranscriptJan 2026PPTJan 2026Recording

Corporate actions

As of 11 Sep 2026
11 Sep 2026DIVIDENDDividend - Rs 2 Per Share—
24 Oct 2025DIVIDENDInterim Dividend - Rs 2 Per Share—
Fundamentals from a third-party compiler of exchange filings; prices from the exchanges. Not investment advice.© 2026 āagman