Waaree Energies Ltd

544277

Summary

Fair Value Assessment
Overvalued (5% Premium)
Fair ValueQ2,302.08UncertaintyVery High
Close Price2,440.00Mar 25, 2025
Market Closed
2,440.00
Price Up by 8.45 | 0.35 %
Previous Close
2,440.00
Day Range
2,392.75 – 2,509.40
Year Range
2,030.00 – 3,740.75
Bid / Ask
Market Cap
701.0 Bil
Volume / Average
183.1 k / 113.0 k
Beta
Shares Outstanding
287.28 Mil
Primary Exchange
Bombay Stock Exchange

Business Description
Waaree Energies Ltd is a manufacturer of solar PV modules in India. Its solar PV modules are currently manufactured using multicrystalline cell technology, monocrystalline cell technology and emerging technologies such as Tunnel Oxide Passivated Contact (TopCon). Its portfolio of solar energy products consists of the following PV modules: multicrystalline modules, monocrystalline modules, and TopCon modules, comprising flexible modules, which includes bifacial modules (Mono PERC) (framed and unframed), and building integrated photo voltaic (BIPV) modules. The company has three segments: Solar Photovoltaic Modules, Generation of Power and Engineering, Procurement and Construction contract (EPC). Key revenue is generated from Solar Photovoltaic Modules.
Contact
Western Express Highway 602, 6th Floor, Western Edge – I, Mumbai, MH 400 066
T +91 2266444444
www.waaree.com opens in a new tab
Sector
Technology
Industry
Solar
Most Recent Earnings
Dec 31, 2024
Fiscal Year End
Mar 31, 2025
Employees
9,525

Key Metrics

Income Statement (in Bil, except ratios)
12/31/2024
03/2024
03/2023
03/2022
03/2021
03/2020
Revenue
133.50 113.71 66.08 28.44 19.42
Revenue Growth %
72.08% 132.38% 46.45%
Gross Profit
31.99 22.69 12.45 4.35 2.69
Gross Profit Margin %
23.96% 19.96% 18.84% 15.29% 13.85%
Operating Income
18.97 13.01 6.75 0.71 0.67
Operating Margin %
14.21% 11.45% 10.21% 2.49% 3.47%
EBIT
23.55 17.08 6.96 1.45 0.74
EBIT Margin %
17.64% 15.02% 10.53% 5.10% 3.83%
EBITDA
26.79 19.84 8.60 1.88 1.07
EBITDA Margin %
20.07% 17.45% 13.01% 6.62% 5.49%
Net Income
17.10 12.37 4.83 0.76 0.47
Net Profit Margin %
13.17% 11.21% 7.57% 2.80% 2.35%
Basic EPS
62.71 43.06 16.80 2.63 1.62
Diluted EPS
62.51 43.06 16.80 2.63 1.62
Normalized EPS
Total Dividends per Share
Balance Sheet (in Bil, except ratios)
06/30/2024
03/2024
03/2023
03/2022
03/2021
03/2020
Total Assets
119.89 113.14 74.20 22.37 12.93
Total Liabilities
74.37 71.65 55.58 17.98 9.00
Total Debt
9.01 10.92 9.06 4.21 4.08
Total Equity
45.52 41.48 18.62 4.40 3.93
Cash And Cash Equivalents
1.95 1.21 1.97 0.48 0.06
Working Capital
23.30 25.90 5.54 -1.53 1.46
Shares Outstanding (Bil)
0.29 0.29
Book Value Per Share
Total Debt To Equity
0.20 0.26 0.49 0.96 1.04
Cash Flow Statement (in Bil, except ratios)
06/30/2024
03/2024
03/2023
03/2022
03/2021
03/2020
Cash From Operating Activities
21.16 23.05 15.60 7.01 0.72
Cash From Investing Activities
-23.74 -33.40 -20.94 -6.75 -2.50
Cash From Financing Activities
3.52 9.09 6.42 0.99 1.57
Capital Expenditures
13.42 8.65 4.96 1.98
Free Cash Flow
2.50 -0.90 -3.58 -1.26
Change in Cash
0.94 -1.26 1.09 1.25 -0.21

Profile

Name (Age)
5-Year Trend
2021
2022
2023
2024
2025
Hitesh Pranjivan Mehta (59) Director and Chief Financial Officer
Hitesh Chimanlal Doshi (57) Chairman of the Board and Managing Director
Total Compensation for all Key Executives
Transaction History

Shares in Thousands
0 5 10 15 20 25 30 35 40
>
No Data Available
There is no available information for this investment.
Sep
2023
    • Buy
    • Acquisition
    • Option Exercise
    • Disposition
    • Sell
Transaction Detail
No Data Available
There is no available information for this investment.

Ownership

Name
% Total
Shares Held
% Total
Assets
Trend
Prev. 8 Qtrs
Change Amount
Change %
Date
Motilal Oswal Large & Midcap Reg Gr 0.31 2.48 876,265
35,151
4.18%
Feb 28, 2025
Motilal Oswal ELSS Tax Saver Reg Gr 0.14 2.54 401,049
Feb 28, 2025
Mahindra Manulife Multi Cap Reg Gr 0.11 1.53 315,000
Feb 28, 2025
Motilal Oswal Focused Reg Gr 0.07 3.12 188,702
31,367
19.94%
Feb 28, 2025
Jupiter India L Acc 0.06 0.21 176,319
Nov 30, 2024
Total (for Top 5) 0.68 1,957,335
66,518

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