Waa Solar Ltd
Waa Solar Ltd (WAA) last reported results for the quarter ended Mar 2026, with sales of ₹18.96 crore and net profit of ₹-1.17 crore. The stock last traded at ₹46, a market capitalisation of ₹61 crore, on a P/E of 133. Over the past 52 weeks the stock has ranged between ₹40.9 and ₹78.7. Figures are as of 6 Oct 2026 and are not real time.
Waa Solar Ltd share price and key metrics
- Current price
- ₹46
- Market cap
- ₹61 cr
- Stock P/E
- 133
- Book value
- ₹139
- ROE
- 0.25%
- ROCE
- 3.24%
- Dividend yield
- 0.00%
- 52w high / low
- 78.7/40.9
Metrics as of 6 Oct 2026. Not real time.
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Waa Solar Ltd growth and returns
- 10 Years
- -8%
- 5 Years
- -9%
- 3 Years
- -17%
- TTM
- -2%
- 10 Years
- -23%
- 5 Years
- -35%
- 3 Years
- -64%
- TTM
- -93%
- 10 Years
- %
- 5 Years
- 3%
- 3 Years
- -19%
- 1 Year
- -33%
- 10 Years
- 3%
- 5 Years
- 3%
- 3 Years
- 3%
- Last Year
- 0%
Waa Solar Ltd quarterly results
In the quarter ended Mar 2026, sales were ₹18.96 cr, up 36.8% from ₹13.86 cr a year earlier. Net profit swung to a loss of ₹1.17 cr.
| ₹ crore | Sep 2022 | Mar 2023 | Sep 2023 | Mar 2024 | Sep 2024 | Mar 2025 | Sep 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 25.68 | 23.36 | 23.65 | 3.04 | 14.38 | 13.86 | 8.81 | 18.96 |
| Expenses | 9.19 | 4.43 | 6.64 | 1.88 | 9.68 | 8.2 | 2.45 | 9.83 |
| Operating profit | 16.49 | 18.93 | 17.01 | 1.16 | 4.7 | 5.66 | 6.36 | 9.13 |
| OPM % | 64.21% | 81.04% | 71.92% | 38.16% | 32.68% | 40.84% | 72.19% | 48.15% |
| Other income | 0.28 | 0.37 | 0.45 | 0.22 | 0.61 | 1.99 | 1.55 | 1.16 |
| Interest | 5.12 | 4.93 | 4.28 | -0.27 | 2.24 | 2.86 | 4.81 | 6.31 |
| Depreciation | 7.96 | 7.99 | 7.98 | 1 | 4.5 | -0.58 | 3 | 3.87 |
| Profit before tax | 3.69 | 6.38 | 5.2 | 0.65 | -1.43 | 5.37 | 0.1 | 0.11 |
| Tax % | 19.51% | 15.99% | 16.15% | 72.31% | 0.00% | 0.74% | 20.00% | 509.09% |
| Net profit | 3.6 | 6.81 | 5.04 | 1.59 | -0.29 | 7.26 | 1.82 | -1.17 |
| EPS (₹) | 2.87 | 4.57 | 3.54 | 1.46 | -0.22 | 5.47 | 1.37 | -0.88 |
Consolidated figures as reported by the company. Percentages are as published; totals may not sum exactly.
Waa Solar Ltd annual results
| ₹ crore | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 51.67 | 50.78 | 79.34 | 47.88 | 43.84 | 45.72 | 48.74 | 26.4 | 28.25 | 27.77 |
| Operating profit | 43.72 | 41.71 | 60.52 | 29.05 | 36.63 | 35.21 | 35.44 | 18.29 | 10.44 | 15.49 |
| OPM % | 84.61% | 82.14% | 76.28% | 60.67% | 83.55% | 77.01% | 72.71% | 69.28% | 36.96% | 55.78% |
| Net profit | -1.21 | 3.92 | 3.79 | 11.25 | 4.3 | 7.73 | 10.38 | 6.63 | 6.97 | 0.65 |
| EPS (₹) | -26.60 | 3.79 | 3.14 | 8.36 | 3.05 | 5.47 | 7.42 | 5.00 | 5.25 | 0.49 |
TTM is the trailing twelve months to the most recent quarter.
Waa Solar Ltd balance sheet
| ₹ crore | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity capital | 0.27 | 4.88 | 6.63 | 6.63 | 6.63 | 13.27 | 13.27 | 13.27 | 13.27 | 13.27 |
| Reserves | 63.74 | 112.62 | 142.25 | 154.93 | 158.20 | 158.83 | 166.94 | 168.89 | 173.78 | 171.36 |
| Borrowings | 173.06 | 187.70 | 234.89 | 149.23 | 134.89 | 114.92 | 93.50 | 50.82 | 142.25 | 178.12 |
| Other liabilities | 12.40 | 14.88 | 76.73 | 30.88 | 22.13 | 23.27 | 24.79 | 1.60 | 3.98 | 49.25 |
| Total liabilities | 249.47 | 320.08 | 460.50 | 341.67 | 321.85 | 310.29 | 298.50 | 234.58 | 333.28 | 412.00 |
| Fixed assets | 190.93 | 225.81 | 204.14 | 104.21 | 138.22 | 122.09 | 106.60 | 44.40 | 98.45 | 181.30 |
| CWIP | 3.53 | 0.51 | 71.14 | 45.88 | 0.00 | 0.00 | 0.00 | 0.27 | 21.40 | 19.90 |
| Investments | 36.45 | 42.75 | 80.99 | 76.72 | 82.15 | 87.43 | 87.82 | 97.22 | 97.02 | 96.68 |
| Other assets | 18.56 | 51.01 | 104.23 | 114.86 | 101.48 | 100.77 | 104.08 | 92.69 | 116.41 | 114.12 |
| Total assets | 249.47 | 320.08 | 460.50 | 341.67 | 321.85 | 310.29 | 298.50 | 234.58 | 333.28 | 412.00 |
As reported by the company. Total assets equal total liabilities by construction.
Waa Solar Ltd cash flow
| ₹ crore | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | 42.40 | 40.35 | 106.26 | 24.57 | 33.96 | 31.00 | 36.86 | 14.97 | -4.55 | 67.45 |
| Cash from investing | -18.16 | -33.98 | -132.52 | 75.69 | -18.28 | 1.41 | -1.29 | 51.44 | -62.95 | -87.34 |
| Cash from financing | -24.20 | -5.58 | 62.55 | -105.83 | -38.52 | -31.15 | -30.92 | -66.94 | 86.34 | 24.75 |
| Net cash flow | 0.04 | 0.79 | 36.30 | -5.58 | -22.84 | 1.27 | 4.65 | -0.53 | 18.84 | 4.86 |
| Free cash flow | 37.62 | 40.35 | 24.27 | 38.19 | 34.91 | 31.00 | 36.40 | 15.58 | -83.66 | -20.78 |
| CFO / operating profit | 97% | 99% | 181% | 93% | 100% | 94% | 108% | 91% | -43% | 439% |
Negative figures are outflows. CFO / operating profit is a ratio, not an amount.
Waa Solar Ltd operating ratios
| Per year | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % | 7.51% | 9.40% | 8.55% | 5.70% | 6.59% | 6.46% | 6.73% | 3.76% | 3.26% | 3.24% |
| Debtor days | 14.27 | 45.00 | 14.54 | 81.57 | 90.00 | 105.86 | 90.91 | 207.66 | 215.38 | 155.23 |
| Inventory days | — | — | — | — | — | — | — | 576.08 | 0.00 | — |
| Days payable | — | — | — | — | — | — | — | 369.40 | — | — |
| Cash conversion cycle | 14.27 | 45.00 | 14.54 | 81.57 | 90.00 | 105.86 | 90.91 | 414.35 | 215.38 | 155.23 |
| Working capital days | -92.61 | 160.36 | -22.27 | 408.53 | 521.19 | 479.88 | 433.82 | 923.56 | 696.67 | 5.65 |
Ratios as computed by the source from the reported statements. Rows a company does not report are omitted.
Waa Solar Ltd shareholding pattern
Promoters held 67.86% at Mar 2026, down from 68.46% at Mar 2024.
| % held | Sep 2022 | Mar 2023 | Sep 2023 | Mar 2024 | Sep 2024 | Mar 2025 | Sep 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters | 69.81% | 69.81% | 69.75% | 68.46% | 67.85% | 67.86% | 67.86% | 67.86% |
| Public | 30.19% | 30.19% | 30.26% | 31.54% | 32.15% | 32.14% | 32.13% | 32.14% |
| No. of shareholders | 1,087 | 1,060 | 1,098 | 1,469 | 2,278 | 2,367 | 2,412 | 2,307 |
As disclosed by the company to the exchanges. The last row is a count of shareholders, not a percentage.
Waa Solar Ltd corporate filings
- Compliance Certificate for the Quarter ended on September 30, 2016, pursuant to Regulation 74(5) of the SEBI (DP) Regulations, 2018.Company Updatelow impact
- Waa Solar Limited's recent AGM voting results indicate strong approval for key resolutions, with over 99% of votes in favor, including approval of financial statements, director reappointments, and related party transactions. The company has also received requisite approval for borrowing limits and related party dealings, reflecting investor confidence in strategic governance decisions. However, the overall shareholding and voting participation appear limited, with only a small fraction of total shares actively voting, which could temper the market's immediate re-rating potential. The detailed voting outcomes, especially the near-unanimous approval, suggest stability in governance and strategic direction, likely supporting a neutral to mildly positive near-term sentiment.AGM/EGMmedium impact
Cruxal's analysis: Waa Solar Limited held its 17th AGM on September 30, 2026, with key resolutions including…
Read the full analysis - Waa Solar Limited conducts AGM with significant shareholder participation; no immediate financial disclosures or strategic updates announcedAGM/EGMlow impact
Cruxal's analysis: Waa Solar Limited held its 17th AGM on September 30, 2026, via video conferencing, with a…
Read the full analysis - Waa Solar Limited holds its 17th AGM, approving financial statements for FY 2026 with notable strategic and governance resolutionsAGM/EGMlow impact
Cruxal's analysis: Waa Solar Limited conducted its 17th Annual General Meeting on September 30, 2026, via…
Read the full analysis - Intimation of Closure of Trading Window under the SEBI (Prohibition of Insider Trading) Regulations, 2015, for the hlaf year ended on Septmber 30, 2026.Insider Trading / SASTlow impact
- Waa Solar Limited Announces 17th Annual General Meeting Scheduled for September 30, 2026Company Updatelow impact
Cruxal's analysis: Waa Solar Limited has issued a formal notice for its 17th Annual General Meeting (AGM) to…
Read the full analysis - Waa Solar Ltd submits Annual Report for the Financial Year 2025-26Otherslow impact
Cruxal's analysis: Waa Solar Ltd has filed its Annual Report for the fiscal year 2025-26 in compliance with…
Read the full analysis - Waa Solar Limited Announces 17th AGM Agenda Including Significant Borrowing Limit Enhancements and Related Party TransactionsAGM/EGMmedium impact
Cruxal's analysis: Waa Solar Limited has issued a notice for its 17th Annual General Meeting scheduled for…
Read the full analysis - Waa Solar Ltd schedules Annual General Meeting for September 30, 2026Corp. Actionlow impact
Cruxal's analysis: Waa Solar Ltd has announced the scheduling of its Annual General Meeting (AGM) for…
Read the full analysis - Waa Solar Limited announces 17th Annual General Meeting scheduled for September 30, 2026Otherslow impact
Cruxal's analysis: Waa Solar Limited has formally announced the scheduling of its 17th Annual General…
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