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    Alternative power generation
Waaree Renewable Technologies Ltd

Waaree Renewable Technologies Ltd

678.25
INR
-40.70
(-5.66%)
46.07EPS
22.21P/E
106.25BMarket Cap
Mar 03Next Earn
Waaree Renewable Technologies Ltd
NSE:WAAREERTL
(National Stock Exchange of India)

Recent

price

678.25

P/E

ratio

22.21

div

yld

- -

ROIC.AI

2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
TTM
INR
0.24
0.12
0.15
0.06
0.1
0.05
0.26
1.37
0.55
1.25
15.51
33.71
84.15
153.34
319.4
333.71
Revenue per Share
0.07
0.02
0.04
0.02
0.02
-0.01
0.02
-0.37
-0.31
-0.36
0.83
5.33
13.95
22
45.91
45.85
Basic EPS, GAAP
-0.59
-1.1
-1.14
-0.02
-0.03
-0.07
- -
-6.77
1.07
-12.32
3.46
-1.74
11.25
19.32
15.77
- -
Free Cash Flow per Basic Share
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
0.1
0.1
0.2
2
- -
- -
Dividend per Share
0.91
1.93
2
2.02
2.03
2.03
2.05
1.86
2.49
2.14
2.87
8.18
23.67
43.69
89.54
- -
Book Value per Share
0.91
1.93
2
2.02
2.03
2.03
2.05
1.73
2.43
1.76
2.57
7.88
23.39
43.41
89.27
- -
Tangible Book Value per Share
30
42
32
50
50
55
50
51
103
104
104
104
104
104
104
104
Basic Weighted Avg Shares
7
5
5
3
5
3
13
70
57
130
1,614
3,508
8,764
15,976
33,304
34,809
Sales/Revenue/Turnover
41.68
30.43
35.32
35.78
27.47
-13.67
-20.15
34.49
34.4
41.26
12.28
23.12
22.96
19.06
19
18.51
Operating Margin (%)
- -
- -
- -
- -
- -
- -
- -
7
11
17
37
30
61
64
86
122
Depreciation Expense
2
1
1
1
1
- -
1
-19
-32
-37
86
554
1,453
2,292
4,787
4,783
Net Income, GAAP
25.18
28.95
31.49
28.7
29.53
- -
76.22
333.26
- -
169.59
58.09
28.15
26.83
23.81
25.17
25.54
Effective Tax Rate (%)
31.19
21.62
24.2
25.5
19.36
-12.77
7.06
-27.2
-55.9
-28.92
5.33
15.8
16.58
14.34
14.37
13.74
Profit Margin (%)
7
56
92
96
102
102
24
-25
203
198
26
-239
1,311
1,986
4,608
- -
Working Capital
- -
- -
- -
- -
- -
- -
- -
369
367
1,143
330
305
274
242
779
- -
LT Debt
44
92
100
101
102
102
102
397
565
542
299
850
2,463
4,550
9,338
- -
Total Equity
- -
1.53
1.24
0.81
0.91
- -
-0.6
-12.95
- -
-2.73
9.18
49.86
58.48
53.1
56.35
- -
Return on Invested Capital (%)
- -
1.53
1.24
0.81
0.91
- -
0.9
-15.82
- -
-6.07
9.22
60.55
72.8
60.73
61.73
- -
Return on Capital (%)
- -
1.53
1.24
0.81
0.91
-0.32
0.9
-19.55
-18
-15.55
32.98
96.35
87.62
65.29
68.89
- -
Return on Common Equity (%)

Capital Structure

INR

•

in mil. unless spec.
Dec'26
Mar'26
Jun'27
ST Debt
- -
678
- -
LT Borrowings
- -
185
- -
LT Finance Leases
- -
594
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
104
104
104
Market Capitalization
100,965
81,630
106,250

Working Capital

INR

•

in mil. unless spec.
Dec'26
Mar'26
Jun'27
Total Current Assets
- -
17,896
- -
Cash, Cash Equivalents & STI
- -
1,356
- -
Accounts Receivable, Net
- -
11,720
- -
Inventories
- -
1,168
- -
Total Current Liabilities
- -
13,289
- -
Payables & Accruals
- -
- -
- -
ST Debt
- -
678
- -
Deferred Revenue
- -
- -
- -

Growth Rates

INR

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
84.59%
103.9%
105.26%
Free Cash Flow
- -
-194.1%
-18.3%
Net Income, GAAP
-207.27%
108.7%
108.89%
Sales/Revenue/Turnover
251.47%
320.59%
108.46%
Total Cash Common Dividend
- -
- -
- -

Quarterly Revenue

INR

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2025
2,364
5,245
3,603
4,766
15,976
2026
6,032
- -
8,511
11,024
33,304
2027
9,243
- -
- -
- -
- -

Quarterly Earnings Per Share

INR

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2025
2.72
5.14
5.14
9
22
2026
8.29
- -
11.5
14.96
45.91
2027
11.11
- -
- -
- -
- -

Quarterly Dividends Per Share

INR

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2025
- -
- -
- -
- -
2
2026
- -
- -
- -
- -
- -
2027
- -
- -
- -
- -
- -
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Business
Waaree Renewable Technologies Ltd (WAAREERTL.NS), a subsidiary of Waaree Energies Ltd, spearheads the solar engineering, procurement, and construction (EPC) business within India's leading renewable energy group; the company generates power through renewable sources, develops and operates solar projects, and provides consultancy services. Incorporated in 1999 and headquartered in Mumbai, India, it offers ground-mounted solar plants, rooftop solar solutions, floating solar installations, solar capex models, resco opex arrangements, operations and maintenance services; it finances, constructs, owns, and operates solar assets serving individual, industrial, and commercial customers across India and international markets including Vietnam. Waaree Renewable Technologies has executed over 10,000 solar projects totaling more than 3.95 GW in operational capacity, with notable installations such as a 49.5 MW plant in Vietnam commissioned in 100 days and Gujarat's first 1 MW floating solar project at NTPC Kawas. Recent developments include securing a Rs 740 crore EPC contract in March 2025 for a 125 MWAC solar project as part of a consortium, with completion slated within 18 months; in November 2025, shareholders approved amendments to the Waaree RTL ESOP 2022 via postal ballot. The company, formerly Sangam Renewables Ltd until its name change in July 2021, operates within the Waaree Group's vertically integrated ecosystem featuring 15 GW solar module capacity, 5.4 GW cell capacity, battery energy storage, and green hydrogen electrolysers; its parent Waaree Energies pursued strategic acquisitions in 2025, including a 64% stake in transformer manufacturer Kotsons for Rs 192 crore in August and a 76% stake in smart meter firm Racemosa Energy.