WAAREE RENEWABLE TECHNOLOGIES LIMITED
₹694.75+₹3.50 (+0.5%)
Last close · Data as of Oct 30, 2026
- Market cap
- ₹10,499 Cr
- P/E
- 29.6x
- EV / EBITDA
- 49.4x
- Revenue
- ₹1,597 Cr
- Net margin
- 16.6%
- ROCE
- 71.9%
Price chart
Technical chartScreen technicals →-44.7% over the last year
Daily closes.
Go deeper
Technical chart: candles, 9 moving averages, RSI, MACD and drawing tools
Performance
Price change over each period, before dividends.
- 1M
- -15.3%
- 3M
- -23.9%
- 6M
- -31.8%
- 1Y
- -44.7%
- 5Y
- +196.5%
52-week range
Day change +₹3.50 (+0.5%) from ₹691 to ₹695 · Last close Oct 30, 2026
Best weekday to invest, historically
The same weekly amount in WAAREERTL, bought on each weekday since 2021.
AI Summary
Indian StockStrengths1
- Strong 5-year revenue CAGR of 237.5%
Concerns0
Rule-based from financial data. Not advice.
About the company
Waaree Renewable Technologies Limited engages in the generation of power through renewable energy sources in India. The company offers ground mounted solar; capex model; resco opex; rooftop solar; floating solar; and operations and maintenance solutions. It also provides engineering, procurement, and construction (EPC) services. The company serves the individual, industrial, and commercial sectors.
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Waaree Renewable Technologies Limited engages in the generation of power through renewable energy sources in India. The company offers ground mounted solar; capex model; resco opex; rooftop solar; floating solar; and operations and maintenance solutions. It also provides engineering, procurement, and construction (EPC) services. The company serves the individual, industrial, and commercial sectors. The company was formerly known as Sangam Renewables Limited and changed its name to Waaree Renewable Technologies Limited in July 2021. The company was incorporated in 1999 and is headquartered in Mumbai, India. Waaree Renewable Technologies Limited operates as a subsidiary of Waaree Energies Limited.
- Sector
- Technology
- Shares outstanding
- 10.4 Cr shares
- ISIN
- INE299N01021
- BSE code
- 534618
Key statistics
Screen fundamentals →Valuation, profitability, growth and solvency at the latest close; hover a label for its meaning.
Valuation
- Market cap
- ₹10,499 Cr
- P/E
- 29.6x
- P/B
- 15.9x
- EV / EBITDA
- 49.4x
- EV / Sales
- 11.9x
- P/S
- 12.0x
- Earnings yield
- 3.4%
- 52-week high
- ₹1,331.45
- 52-week low
- ₹655.75
Profitability
- Operating margin
- 23.6%
- Net margin
- 16.6%
- EBITDA margin
- 24.1%
- ROE
- 58.5%
- ROCE
- 71.9%
- ROA
- 20.3%
- Dividend payout
- 7.0%
- Tax rate
- 27.0%
- Other income, % of PBT
- 2.0%
Growth
- RevenueLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- ₹1,597 Cr
- Revenue growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 82.3%
- Revenue CAGR, 5YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 237.5%
- EBITDALatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- ₹211 Cr
- EBITDA growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 160.5%
- Net profit growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 57.9%
- Cash from operationsLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- ₹128 Cr
- CFO growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 120.7%
- Free cash flowLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- ₹17.0 Cr
- Asset growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 181.5%
Solvency and efficiency
- Current ratio
- 1.31
- Debt / Equity
- 0.16
- Debt / Assets
- 0.06
- Debt / EBITDA
- 0.19
- Interest coverage
- 29.57
- Financial leverage
- 2.88
- CFO / Net profit
- 0.88
- Cash / Market cap
- 5.2%
- Cash per share
- ₹52.60
- Asset turnover
- 1.23
- Fixed asset turnover
- 5.69
- Capital intensity
- 0.18
- Debtor days
- 155 days
- Inventory turnover
- 21.47
- Cash conversion cycle
- 3 days
Where the revenue went
Of every ₹100 of FY2025 revenue, ₹14 was left as net profit.
| From | To | Amount |
|---|---|---|
| Sales | Expenses | ₹1,286 Cr |
| Sales | Operating profit | ₹311 Cr |
| Operating profit | Interest | ₹15 Cr |
| Operating profit | Depreciation | ₹6 Cr |
| Operating profit | Profit before tax | ₹290 Cr |
| Other income | Profit before tax | ₹11 Cr |
| Profit before tax | Tax and other | ₹72 Cr |
| Profit before tax | Net profit | ₹229 Cr |
Revenue and net profit
Revenue grew 82.3% in FY2025; net profit is the dashed line.
| Date | Revenue | Net profit |
|---|---|---|
| FY2021 | ₹8 Cr | ₹2 Cr |
| FY2022 | ₹154 Cr | ₹20 Cr |
| FY2023 | ₹342 Cr | ₹59 Cr |
| FY2024 | ₹876 Cr | ₹145 Cr |
| FY2025 | ₹1,597 Cr | ₹229 Cr |
Cash flows
FY2025: ₹302 Cr from operations, ₹65.0 Cr free after investment (dashed).
| Date | Operating cash flow | Free cash flow |
|---|---|---|
| FY2021 | ₹3 Cr | -₹5 Cr |
| FY2022 | ₹34 Cr | ₹53 Cr |
| FY2023 | ₹58 Cr | -₹8 Cr |
| FY2024 | ₹128 Cr | ₹14 Cr |
| FY2025 | ₹302 Cr | ₹65 Cr |
Growth
Latest fiscal year FY2025 (ending March): each figure with its change over the year before.
- Revenue
- ₹1,597 Cr+82.3%1Y
- Net profit
- ₹229 Cr+57.9%1Y
- Cash from operations
- ₹302 Cr
- Free cash flow
- ₹65 Cr+364.3%1Y
- Revenue CAGR, 5Y
- 237.5%
- EBITDA CAGR, 5Y
- 134.1%
| Year | Revenue | Operating income | EBITDA | Net profit | CFO | FCF | ROE | Revenue growth 1Y | Net profit growth 1Y |
|---|---|---|---|---|---|---|---|---|---|
| FY2025 | ₹1,597 Cr | ₹311 Cr | — | ₹229 Cr | ₹302 Cr | ₹65 Cr | 50.1% | +82.3% | +57.9% |
Monthly returns
Month-by-month returns of WAAREERTL across the years, with the seasonal pattern.
Balance sheet
What the company owns and owes at the end of FY2025.
| Line | FY2025 |
|---|---|
| Liabilities and equity | ₹1,121 Cr |
| Equity capital | ₹21 Cr |
| Reserves | ₹436 Cr |
| Borrowings | ₹27 Cr |
| Other liabilities | ₹637 Cr |
| Assets | ₹1,121 Cr |
| Fixed assets | ₹195 Cr |
| Capital work in progress | ₹56 Cr |
| Investments | ₹52 Cr |
| Other assets | ₹818 Cr |
Market cap against peers
8 peers: same sector group, nearest by size.
P/E against peers
WAAREERTL trades at 29.6x earnings against a peer median of 52.1x (a 43% discount).
Peer comparison
Same-sector peers by market cap, with the median.
| Company | Market cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|
| WAAREE RENEWABLE TECHNOLOGIES LIMITEDWAAREERTLthis companyP/E ↓ discount | ₹10,499 Cr | 29.6x | 15.9x | 58.5% | 49.4x |
| BIRLASOFT LIMITEDBSOFT | ₹11,840 Cr | 43.0x | 7.1x | 20.4% | 24.6x |
| Zen Technologies Ltd.ZENTEC | ₹11,156 Cr | 53.9x | 6.3x | 28.5% | 57.2x |
| Newgen Software Technologies LimitedNEWGEN | ₹11,084 Cr | 35.7x | 7.5x | 20.6% | 34.8x |
| Lumax Auto Technologies Ltd.LUMAXTECH | ₹10,225 Cr | 109.0x | 12.0x | 13.8% | 59.6x |
| Sonata Software Ltd.SONATSOFTW | ₹9,856 Cr | 51.0x | 12.3x | 50.8% | 24.0x |
| Nazara Technologies LimitedNAZARA | ₹9,793 Cr | 370.0x | 4.4x | -6.1% | -109.2x |
| HFCL LIMITEDHFCL | ₹9,582 Cr | 383.0x | 2.3x | 8.1% | 16.1x |
| OLECTRA GREENTECH LIMITEDOLECTRA | ₹9,271 Cr | 63.6x | 8.2x | 8.1% | 54.1x |
| Peer median | — | 52.1x | 7.8x | 14.5% | 34.2x |
Year-to-date ROI
WAAREERTL since 1 January, against earlier years.
Historical volatility
WAAREERTL's day-to-day swings over 30, 60 and 180 days.
Financial statements
Income statement, balance sheet and cash flow as reported, in ₹ crore, grouped into plain-language lines.
Figures in ₹ crore as reported, fiscal years ending March, newest first; the trailing twelve months (TTM) last.
Operating margin by fiscal year
| Date | Operating margin |
|---|---|
| FY2021 | 36.0% |
| FY2022 | 9.0% |
| FY2023 | 22.0% |
| FY2024 | 24.0% |
| FY2025 | 19.0% |
| Line | FY2025 |
|---|---|
| RevenueSales | ₹1,597 Cr |
| Costs | |
| Interest | ₹15 Cr |
| Expenses | ₹1,286 Cr |
| Operating profitOperating Profit | ₹311 Cr |
| Other income and charges | |
| Profit before tax | ₹301 Cr |
| Tax | |
| Net profitNet Profit | ₹229 Cr |
| Per share |
| Line | FY2025 |
|---|---|
| Liabilities and equityTotal Liabilities | ₹1,121 Cr |
| Equity capitalEquity Capital | ₹21 Cr |
| Reserves | ₹436 Cr |
| Borrowings | ₹27 Cr |
| Other liabilitiesOther Liabilities | ₹637 Cr |
| AssetsTotal Assets | ₹1,121 Cr |
| Fixed assetsFixed Assets | ₹195 Cr |
| Capital work in progressCWIP | ₹56 Cr |
| Investments | ₹52 Cr |
| Other assetsOther Assets | ₹818 Cr |
| Line | FY2025 |
|---|---|
| Operating cash flowCash from Operating Activity | ₹302 Cr |
| Investing cash flowCash from Investing Activity | -₹237 Cr |
| Financing cash flowCash from Financing Activity | -₹49 Cr |
| Change in cashNet Cash Flow | ₹17 Cr |
Learn while you research
Academy chapters picked for WAAREE RENEWABLE TECHNOLOGIES LIMITED and the metrics on this page.
- 01 Taxes on Investments (India)LTCG, STCG, dividend tax, what every Indian investor needs.6 min read
- 02 Stock Valuation BasicsHow to think about what a fair price for a stock looks like.7 min read
- 03 Growth Investing82% revenue growth is in the top tier, learn how to value growth.7 min read
- 04 Stock Market RisksSmall caps carry concentrated, idiosyncratic risk, learn to manage it.6 min read
- 05 Essential Stock RatiosP/E, P/B, EV/EBITDA, what they mean and when to use each.7 min read
- 06 How to Read a Cash-Flow StatementProfit can be manipulated; cash flow rarely lies.7 min read