Price
Financials
Standalone, Rs crore| Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 150 | 324 | 273 | 236 | 524 | 360 | 477 | 603 | 775 | 851 | 1,102 | 811 |
| Expenses | 119 | 236 | 198 | 195 | 453 | 288 | 350 | 486 | 617 | 692 | 896 | 652 |
| Operating Profit | 31 | 88 | 75 | 41 | 72 | 72 | 126 | 118 | 158 | 159 | 207 | 159 |
| OPM % | 20% | 27% | 28% | 17% | 14% | 20% | 27% | 19% | 20% | 19% | 19% | 20% |
| Other Income | 1 | 1 | 2 | 3 | 3 | 4 | 1 | 5 | 5 | 7 | 8 | 7 |
| Interest | 2 | 0 | 4 | 3 | 4 | 3 | 4 | 4 | 4 | 3 | 3 | 7 |
| Depreciation | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 |
| Profit before tax | 28 | 86 | 72 | 40 | 69 | 71 | 121 | 117 | 157 | 160 | 210 | 157 |
| Tax % | 25% | 26% | 29% | 28% | 23% | 24% | 23% | 26% | 26% | 24% | 25% | 27% |
| Net Profit | 21 | 64 | 51 | 28 | 54 | 54 | 94 | 87 | 117 | 122 | 157 | 114 |
| EPS in Rs | 1.98 | 6.18 | 4.93 | 2.73 | 5.14 | 5.14 | 9.01 | 8.30 | 11.22 | 11.66 | 15.08 | 10.97 |
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 0 | 0 | 1 | 5 | 2 | 8 | 154 | 342 | 876 | 1,597 | 3,331 | 3,539 |
| Expenses | 0 | 0 | 2 | 3 | 2 | 5 | 140 | 266 | 669 | 1,286 | 2,690 | 2,857 |
| Operating Profit | 0 | -0 | -0 | 2 | 0 | 3 | 13 | 76 | 207 | 311 | 641 | 683 |
| OPM % | 27% | -15% | -16% | 50% | 1.5% | 36% | 9% | 22% | 24% | 19% | 19% | 19% |
| Other Income | 0 | 0 | 1 | 1 | 3 | 4 | 14 | 5 | 4 | 11 | 24 | 26 |
| Interest | 0 | 0 | 0 | 2 | 3 | 4 | 1 | 1 | 7 | 15 | 13 | 17 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 6 | 6 | 8 | 9 |
| Profit before tax | 0 | -0 | 0 | 1 | -0 | 3 | 26 | 80 | 199 | 301 | 644 | 684 |
| Tax % | 31% | 0% | 73% | 65% | -52% | 12% | 21% | 26% | 27% | 24% | 25% | |
| Net Profit | 0 | -0 | 0 | 0 | -0 | 2 | 20 | 59 | 145 | 229 | 483 | 510 |
| EPS in Rs | 0.02 | -0.01 | 0.02 | 0.06 | -0.02 | 0.22 | 1.96 | 5.71 | 13.97 | 22.01 | 46.25 | 48.93 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 5% | 4% | 7% | 5% | 0% |
| 10 Years | 5 Years | 3 Years | TTM | 1 Year | Last Year | |
|---|---|---|---|---|---|---|
| Compounded Sales Growth | 142% | 238% | 114% | 80% | ||
| Compounded Profit Growth | 136% | 190% | 101% | 76% | ||
| Stock Price CAGR | 65% | 89% | 48% | -22% | ||
| Return on Equity | 65% | 69% | 69% | 69% |
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 10 | 10 | 10 | 10 | 10 | 21 | 21 | 21 | 21 | 21 | 21 | 21 |
| Reserves | 0 | 0 | 0 | 0 | 1 | 10 | 12 | 31 | 91 | 227 | 436 | 919 |
| Borrowings | 0 | 0 | 0 | 0 | 36 | 37 | 37 | 0 | 0 | 40 | 27 | 115 |
| Other Liabilities | 0 | 0 | 0 | 2 | 1 | 1 | 13 | 80 | 143 | 427 | 637 | 1,289 |
| Total Liabilities | 10 | 10 | 10 | 12 | 48 | 68 | 83 | 132 | 254 | 715 | 1,121 | 2,343 |
| Fixed Assets | 0 | 0 | 0 | 4 | 4 | 3 | 3 | 3 | 9 | 154 | 195 | 238 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 80 | 3 | 56 | 111 |
| Investments | 1 | 1 | 0 | 0 | 32 | 32 | 32 | 1 | 0 | 9 | 52 | 31 |
| Other Assets | 10 | 10 | 10 | 9 | 13 | 33 | 48 | 128 | 165 | 549 | 818 | 1,962 |
| Total Assets | 10 | 10 | 10 | 12 | 48 | 68 | 83 | 132 | 254 | 715 | 1,121 | 2,343 |
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity | -0 | -0 | -2 | 0 | 5 | 3 | 3 | 34 | 58 | 128 | 302 | 291 |
| Cash from Investing Activity | 0 | 0 | 1 | -3 | -31 | 3 | -8 | 19 | -66 | -114 | -237 | -272 |
| Cash from Financing Activity | 0 | 0 | 1 | 2 | 27 | -6 | 5 | -39 | -2 | -7 | -49 | 26 |
| Net Cash Flow | 0 | -0 | 0 | -0 | 0 | 0 | 0 | 13 | -10 | 6 | 17 | 45 |
| Free Cash Flow | -0 | -0 | -2 | -3 | 4 | 3 | 3 | 33 | -28 | 117 | 201 | 232 |
| CFO/OP | -75% | -69% | 4,700% | -310% | 195% | 11,900% | 129% | 277% | 84% | 74% | 120% | 66% |
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 46 | 0 | 0 | 115 | 209 | 4 | 118 | 107 | 65 | 155 | 114 | 128 |
| Inventory Days | 44 | 5 | 53 | 17 | 2 | 20 | ||||||
| Days Payable | 260 | 159 | 111 | 168 | 91 | 129 | ||||||
| Cash Conversion Cycle | 46 | 0 | 0 | 115 | 209 | 4 | -98 | -47 | 7 | 3 | 25 | 19 |
| Working Capital Days | 10,460 | 7,140 | 9,111 | -303 | 224 | 59 | 1,640 | 25 | 11 | 2 | -10 | 9 |
| ROCE % | 1% | 1% | -0% | 5% | 11% | 5% | 9% | 45% | 99% | 103% | 82% | 85% |
| Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoters | 74.48% | 74.46% | 74.46% | 74.46% | 74.44% | 74.39% | 74.39% | 74.39% | 74.39% | 74.32% | 74.32% | 74.32% |
| FIIs | 0.00% | 0.00% | 0.20% | 0.83% | 0.98% | 0.99% | 1.13% | 1.31% | 1.38% | 1.70% | 1.85% | 1.98% |
| DIIs | 0.00% | 0.09% | 0.01% | 0.01% | 0.00% | 0.01% | 0.24% | 0.14% | 0.12% | 0.14% | 0.09% | 0.09% |
| Public | 25.51% | 25.43% | 25.33% | 24.69% | 24.58% | 24.60% | 24.25% | 24.16% | 24.12% | 23.85% | 23.73% | 23.61% |
| No. of Shareholders | 24,844 | 28,985 | 86,482 | 1,85,340 | 2,20,702 | 2,84,189 | 3,23,258 | 3,16,520 | 3,13,409 | 3,10,109 | 3,08,307 | 3,06,445 |
Fundamentals
Market Cap₹ 8,574 Cr.
Current Price₹ 821
Stock P/E16.8
Book Value₹ 90.0
ROCE85.0 %
ROE68.6 %
Dividend Yield0.12 %
Face Value₹ 2.00
Compounded Sales Growth (TTM)80%
Compounded Profit Growth (TTM)76%
Standalone figures.
Valuation
Market capRs 8,439 Cr
Enterprise valueRs 8,196 Cr
P/E (TTM)16.53x
Price to book8.98x
Price to sales2.38x
EV / EBITDA11.56x
EV / EBIT11.70x
EV / sales2.32x
Price to cash flow29.01x
Earnings yield6.05%
P/E, 3-year average52.92x
P/B, 3-year average29.52x
P/E, 5-year average34.00x
P/B, 5-year average18.74x
Profitability
Operating margin (excl. other income)19.24%
Operating margin (incl. other income)19.97%
EBITDA margin20.04%
Pre-tax margin19.31%
Net profit margin14.42%
Net margin, latest quarter14.11%
ROE69.12%
ROCE85.38%
ROA27.86%
ROE, 3-year average71.79%
ROCE, 3-year average90.02%
ROA, 3-year average27.62%
ROE, 5-year average67.20%
ROCE, 5-year average82.78%
ROA, 5-year average26.52%
ROIC (approx.)75.49%
Tax rate25.01%
Other income / net worth2.59%
Growth
Sales growth (latest year)108.53%
Profit growth (latest year)110.27%
Sales CAGR, 3 years113.62%
Sales CAGR, 5 years237.56%
Profit CAGR, 3 years101.01%
Profit CAGR, 5 years190.31%
Sales growth QoQ-26.40%
Profit growth QoQ-27.22%
Sales growth YoY (latest quarter)34.53%
Profit growth YoY (latest quarter)32.30%
Per share
EPS (TTM)Rs 48.92
EPS (latest year)Rs 46.25
EPS (latest quarter)Rs 10.97
EPS, 3-year averageRs 27.41
EPS, 5-year averageRs 24.11
Book value per shareRs 90.04
Sales per shareRs 339.20
Cash flow per shareRs 27.88
Free cash flow per shareRs 22.23
Dividend per share, 3-year averageRs 1.00
Dividend per share, 5-year averageRs 0.87
Dividends
Dividend payout, 3-year average5.85%
Dividend payout, 5-year average5.08%
Efficiency
Asset turnover1.42x
Fixed asset turnover14.00x
Inventory turnover22.42x
Inventory days16 days
Debtor days128 days
Debtors turnover2.84x
Creditor days129 days
Cash conversion cycle19 days
Working capital days9 days
Leverage
Total debtRs 115 Cr
Cash and bankRs 358 Cr
Net debtRs -244 Cr
Debt to equity0.12x
Net debt / EBITDA-0.34x
Interest coverage41.00x
Current ratio (filing 2026-03-31)1.35x
Quick ratio (filing 2026-03-31)1.26x
Trade payables (filing 2026-03-31)Rs 772 Cr
Owners' fund to total sources40.10%
Debt to assets4.90%
Cash flow
Cash from Operating Activity (latest year)Rs 291 Cr
Cash from Investing Activity (latest year)Rs -272 Cr
Cash from Financing Activity (latest year)Rs 26 Cr
Net Cash Flow (latest year)Rs 45 Cr
Free cash flow (latest year)Rs 232 Cr
FCFE (approx.: FCF + change in debt)Rs 320 Cr
Cash from ops / profit, 5 years0.87x
Sales to cash flow11.45x
Statement figures
Net sales (TTM)Rs 3,539 Cr
Net sales (latest year)Rs 3,331 Cr
Sales (latest quarter)Rs 811 Cr
Operating profit excl. other income (latest year)Rs 641 Cr
Operating profit (latest quarter)Rs 159 Cr
Other income (TTM)Rs 26 Cr
EBITDA (TTM)Rs 709 Cr
PBDT (TTM)Rs 692 Cr
Profit before tax (TTM)Rs 684 Cr
Tax (latest year)Rs 161 Cr
Net profit (TTM)Rs 510 Cr
Net profit (latest year)Rs 483 Cr
Net profit (latest quarter)Rs 114 Cr
Depreciation (TTM)Rs 9 Cr
Depreciation (latest quarter)Rs 2 Cr
Interest (TTM)Rs 17 Cr
Cost of goods sold (latest year)Rs 2,618 Cr
Total expenditure (latest year)Rs 2,690 Cr
Total income (latest year)Rs 3,356 Cr
Share capitalRs 21 Cr
ReservesRs 919 Cr
Shareholders' fundsRs 939 Cr
Total assetsRs 2,343 Cr
Net blockRs 238 Cr
Capital work in progressRs 111 Cr
InvestmentsRs 31 Cr
ReceivablesRs 1,172 Cr
InventoryRs 117 Cr
Other liabilitiesRs 1,289 Cr
Shares outstanding (crore)10.43
Ownership
Promoter holding74.32% (-0.07 in a year)
Computed by MarketFriction from the standalone statements. Returns use average balances.
P/E 16.5 is the lowest in its own 7.2-year history
(median 81.1, low 16.5, high 385.2).
P/B 8.98 is at the 41th percentile (median 11.31).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
| Period | WAAREERTL | Nifty 50 | Difference |
|---|---|---|---|
| 1 week | -2.8% | -2.8% | -0.0 pts |
| 1 month | -6.4% | -6.8% | +0.4 pts |
| 3 months | -20.7% | -7.6% | -13.1 pts |
| 6 months | +3.4% | +0.4% | +3.0 pts |
| 1 year | -22.2% | -9.9% | -12.3 pts |
| 3 years | +216.7% | +14.2% | +202.5 pts |
| 5 years | +2290.1% | +27.9% | +2262.2 pts |
7 mutual fund schemes hold about ₹6 Cr.
Over three months 6 bought more and 0 sold (share counts, price move removed).
| Fund | Weight | Est. Cr | 3m shares |
|---|---|---|---|
| Motilal Oswal Nifty Microcap 250 Index Fund | 0.23% | 6 | +1% |
| Motilal Oswal BSE Clean Environment Index Fund | 0.64% | 0 | +17% |
| Groww Nifty Total Market Index Fund | 0.01% | 0 | +7% |
| Angel One Nifty Total Market Index Fund | 0.01% | 0 | +7% |
| Mirae Asset Nifty Total Market Index Fund | 0.01% | 0 | +7% |
| Motilal Oswal BSE 1000 Index Fund | 0.01% | 0 | +7% |
| Bandhan Nifty Total Market Index Fund | 0.01% | 0 | +7% |
Red flags
F-score 4 of 8| explain | Receivables outrunning sales Receivables grew 136% vs sales +109% in 2026 |
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.
Latest quarter
Jun 2026Sales ₹811 Cr +34.5% vs Jun 2025.
Net profit ₹114 Cr +31.0%.
Activity
Compare| Company | Mcap (Cr) | P/E | ROCE |
|---|---|---|---|
| Apar Industries Ltd | 74,545 | 61.8 | 31.8 % |
| Waaree Energies Ltd | 68,461 | 17.0 | 38.4 % |
| Premier Energies Ltd | 39,494 | 23.7 | 32.7 % |
| MTAR Technologies Ltd | 22,842 | 166 | 15.2 % |
| Emmvee Photovoltaic Power Ltd | 21,778 | 17.1 | 44.6 % |
| Diamond Power Infrastructure Ltd | 21,055 | 114 | 24.2 % |
| Avalon Technologies Ltd | 15,396 | 115 | 19.3 % |
| Fujiyama Power Systems Ltd | 12,512 | 29.9 | 35.1 % |
| Genus Power Infrastructures Ltd | 8,934 | 13.7 | 25.3 % |
| Vikram Solar Ltd | 5,801 | 16.1 | 30.6 % |
| Ram Ratna Wires Ltd | 5,450 | 42.1 | 23.6 % |
| Saatvik Green Energy Ltd | 5,249 | 21.1 | 32.9 % |
| Shilchar Technologies Ltd | 4,613 | 33.5 | 50.7 % |
| Yash Highvoltage Ltd | 3,293 | 84.6 | 28.6 % |
| Oriana Power Ltd | 3,223 | 12.8 | 39.7 % |
No bulk or block deals on record.
No corporate actions on record.
No announcements in our files yet.
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Not on any NSE surveillance list in the latest file.
Quick answers
What is the market cap of Waaree Renewable Technologies Ltd?
Waaree Renewable Technologies Ltd (WAAREERTL) has a market capitalisation of Rs 8,574 Cr. at the 2026-10-01 close.
What is the P/E ratio of Waaree Renewable Technologies Ltd?
Waaree Renewable Technologies Ltd trades at a P/E of 16.8 on trailing twelve-month profit, at the 2026-10-01 close.
What were Waaree Renewable Technologies Ltd's latest quarterly results?
In the Jun 2026 quarter, Waaree Renewable Technologies Ltd sales was Rs 811 Cr (+34.5% vs Jun 2025) and net profit was Rs 114 Cr.
What is the 52-week high and low of Waaree Renewable Technologies Ltd?
The 52-week high is Rs 1,358.00 and the 52-week low is Rs 779.50.