Waaree Energies Ltd
Waaree Energies Ltd (WAAREEENER) last reported results for the quarter ended Jun 2026, with sales of ₹7,932 crore and net profit of ₹892 crore. The stock last traded at ₹2,372, a market capitalisation of ₹68,242 crore, on a P/E of 17.0. Over the past 52 weeks the stock has ranged between ₹2,301 and ₹3,720. Figures are as of 6 Oct 2026 and are not real time.
Waaree Energies Ltd share price and key metrics
- Current price
- ₹2,372
- Market cap
- ₹68,242 cr
- Stock P/E
- 17.0
- Book value
- ₹502
- ROE
- 32.5%
- ROCE
- 38.4%
- Dividend yield
- 0.17%
- 52w high / low
- 3720/2301
Metrics as of 6 Oct 2026. Not real time.
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Waaree Energies Ltd growth and returns
- 10 Years
- %
- 5 Years
- 69%
- 3 Years
- 58%
- TTM
- 94%
- 10 Years
- %
- 5 Years
- 143%
- 3 Years
- 99%
- TTM
- 81%
- 10 Years
- %
- 5 Years
- %
- 3 Years
- %
- 1 Year
- -32%
- 10 Years
- %
- 5 Years
- 31%
- 3 Years
- 31%
- Last Year
- 33%
Waaree Energies Ltd quarterly results
In the quarter ended Jun 2026, sales were ₹7,932 cr, up 79.2% from ₹4,426 cr a year earlier. Net profit was ₹892 cr, up 15.4% year on year.
| ₹ crore | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 3,574 | 3,457 | 4,004 | 4,426 | 6,066 | 7,565 | 8,480 | 7,932 |
| Expenses | 3,050 | 2,736 | 3,081 | 3,429 | 4,659 | 5,637 | 6,904 | 6,492 |
| Operating profit | 525 | 722 | 923 | 997 | 1,406 | 1,928 | 1,577 | 1,440 |
| OPM % | 15% | 21% | 23% | 23% | 23% | 25% | 19% | 18% |
| Other income | 89 | 88 | 133 | 171 | 161 | -99 | 180 | 171 |
| Interest | 31 | 31 | 57 | 43 | 96 | 93 | 48 | 70 |
| Depreciation | 84 | 89 | 153 | 182 | 240 | 267 | 301 | 330 |
| Profit before tax | 499 | 690 | 845 | 943 | 1,231 | 1,469 | 1,408 | 1,210 |
| Tax % | 25% | 27% | 24% | 18% | 29% | 25% | 20% | 26% |
| Net profit | 376 | 507 | 644 | 773 | 878 | 1,107 | 1,126 | 892 |
| EPS (₹) | 13.73 | 17.15 | 21.54 | 25.94 | 29.29 | 36.94 | 36.89 | 29.56 |
Consolidated figures as reported by the company. Percentages are as published; totals may not sum exactly.
Waaree Energies Ltd annual results
| ₹ crore | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|
| Sales | 1,996 | 1,953 | 2,854 | 6,751 | 11,398 | 14,444 | 26,537 | 30,043 |
| Operating profit | 93 | 85 | 106 | 836 | 1,574 | 2,722 | 5,909 | 6,351 |
| OPM % | 4.7% | 4.3% | 3.7% | 12% | 14% | 19% | 22% | 21% |
| Net profit | 39 | 48 | 80 | 500 | 1,274 | 1,928 | 3,884 | 4,003 |
| EPS (₹) | 2.12 | 2.50 | 3.84 | 24.49 | 62.76 | 65.00 | 129.02 | 132.68 |
TTM is the trailing twelve months to the most recent quarter.
Waaree Energies Ltd balance sheet
| ₹ crore | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Equity capital | 197 | 197 | 197 | 243 | 263 | 287 | 288 |
| Reserves | 101 | 148 | 231 | 1,595 | 3,825 | 9,192 | 14,150 |
| Borrowings | 157 | 340 | 363 | 320 | 553 | 1,199 | 3,213 |
| Other liabilities | 483 | 596 | 1,362 | 5,247 | 6,635 | 8,766 | 12,335 |
| Total liabilities | 938 | 1,281 | 2,154 | 7,406 | 11,277 | 19,444 | 29,985 |
| Fixed assets | 152 | 285 | 625 | 1,105 | 1,450 | 4,026 | 7,328 |
| CWIP | 40 | 3 | 124 | 537 | 1,341 | 1,884 | 3,477 |
| Investments | 85 | 115 | 143 | 31 | 71 | 65 | 953 |
| Other assets | 661 | 878 | 1,262 | 5,732 | 8,414 | 13,469 | 18,227 |
| Total assets | 938 | 1,281 | 2,154 | 7,406 | 11,277 | 19,444 | 29,985 |
As reported by the company. Total assets equal total liabilities by construction.
Waaree Energies Ltd cash flow
| ₹ crore | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Cash from operations | 83 | 67 | 698 | 1,560 | 2,305 | 3,158 | 1,627 |
| Cash from investing | -22 | -250 | -673 | -2,088 | -3,346 | -6,806 | -3,936 |
| Cash from financing | -50 | 161 | 101 | 642 | 909 | 4,036 | 2,573 |
| Net cash flow | 12 | -21 | 126 | 114 | -132 | 388 | 264 |
| Free cash flow | 32 | -35 | 202 | 698 | 968 | -114 | -3,209 |
| CFO / operating profit | 102% | 105% | 683% | 199% | 168% | 143% | 47% |
Negative figures are outflows. CFO / operating profit is a ratio, not an amount.
Waaree Energies Ltd operating ratios
| Per year | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| ROCE % | — | 16% | 21% | 52% | 44% | 35% | 38% |
| Debtor days | 26 | 22 | 12 | 17 | 31 | 27 | 34 |
| Inventory days | 54 | 83 | 85 | 192 | 108 | 96 | 129 |
| Days payable | 67 | 99 | 83 | 143 | 84 | 85 | 79 |
| Cash conversion cycle | 13 | 6 | 14 | 66 | 55 | 38 | 84 |
| Working capital days | 10 | 2 | -84 | -66 | -40 | -92 | -35 |
Ratios as computed by the source from the reported statements. Rows a company does not report are omitted.
Waaree Energies Ltd shareholding pattern
Promoters held 64.12% at Jun 2026, broadly unchanged since Jun 2025. FIIs 8.57% and DIIs 4.08%.
| % held | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|
| Promoters | 64.31% | 64.31% | 64.31% | 64.22% | 64.22% | 64.19% | 64.12% |
| FIIs | 1.40% | 0.70% | 2.68% | 6.35% | 6.91% | 7.06% | 8.57% |
| DIIs | 2.70% | 2.46% | 2.86% | 2.82% | 2.86% | 4.32% | 4.08% |
| Public | 31.58% | 32.53% | 30.15% | 26.60% | 26.01% | 24.44% | 23.23% |
| No. of shareholders | 7,67,963 | 8,51,028 | 7,67,267 | 6,90,025 | 6,95,699 | 6,83,301 | 7,31,601 |
As disclosed by the company to the exchanges. The last row is a count of shareholders, not a percentage.
Waaree Energies Ltd corporate filings
- Certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018 for the Quarter ended September 30, 2026.Company Updatelow impact
- Waaree Energies Ltd subsidiary begins commercial production at Sarodhi, Valsad, GujaratCompany Updatelow impact
Cruxal's analysis: Waaree Power Private Limited, a wholly owned subsidiary of Waaree Energies Ltd, has…
Read the full analysis - Closure of Trading Window.Insider Trading / SASTlow impact
- Waaree Energies Limited Announces Successful Conclusion of 36th Annual General Meeting and Passing of All ResolutionsAGM/EGMlow impact
Cruxal's analysis: Waaree Energies Limited has successfully concluded its 36th Annual General Meeting held…
Read the full analysis - Waaree Energies Limited concludes 36th AGM; confirms record financial performance for FY 2025-26AGM/EGMlow impact
Cruxal's analysis: Waaree Energies Limited has successfully concluded its 36th Annual General Meeting, where…
Read the full analysis - Waaree Clean Energy Solutions enters specialty gases market for semiconductor and solar manufacturingCompany Updatemedium impact
Cruxal's analysis: Waaree Energies Ltd has announced that its subsidiary, Waaree Clean Energy Solutions, is…
Read the full analysis - Waaree Energies to absorb Indosolar Limited via share swap to drive backward integration and operational synergiesCompany Updatehigh impact
Cruxal's analysis: Waaree Energies Limited has announced the amalgamation of Indosolar Limited into its…
Read the full analysis - Waaree Energies Limited Announces Amalgamation of Indosolar Limited to Drive Backward Integration and Operational SynergiesOthershigh impact
Cruxal's analysis: Waaree Energies Limited has approved a scheme of amalgamation with Indosolar Limited to…
Read the full analysis - Waaree Energies Ltd schedules analyst and institutional investor meeting for September 28, 2026Company Updatelow impact
Cruxal's analysis: Waaree Energies Ltd has issued an intimation regarding a scheduled meeting with analysts…
Read the full analysis - Waaree Energies secures major 2 GW solar module supply order for FY27-28Company Updatehigh impact
Cruxal's analysis: Waaree Energies Limited has announced a significant order win for the supply of 2 GW of…
Read the full analysis - Waaree Energies Ltd schedules analyst and institutional investor meeting for September 21, 2026Company Updatelow impact
Cruxal's analysis: Waaree Energies Ltd has issued an intimation regarding a scheduled meeting with analysts…
Read the full analysis - Waaree Energies Ltd announces 36th Annual General Meeting and E-voting scheduleCompany Updatelow impact
Cruxal's analysis: Waaree Energies Ltd has issued a newspaper advertisement regarding the notice of its 36th…
Read the full analysis - Waaree Energies Limited: Promoter Group Completes Internal Restructuring via Inter-se Transfer of SharesInsider Trading / SASTlow impact
Cruxal's analysis: Waaree Energies Limited has disclosed an indirect acquisition of 5 crore 27 lakh 67…
Read the full analysis - Waaree Energies Ltd issues routine communication to shareholdersCompany Updatelow impact
Cruxal's analysis: Waaree Energies Ltd has filed a routine disclosure regarding a letter sent to its…
Read the full analysis - Waaree Energies Ltd files Business Responsibility and Sustainability Report (BRSR)Otherslow impact
Cruxal's analysis: Waaree Energies Ltd has submitted its Business Responsibility and Sustainability Report…
Read the full analysis - Waaree Energies Ltd releases Annual Report for FY 2025-26Otherslow impact
Cruxal's analysis: Waaree Energies Ltd has filed its Annual Report for the financial year 2025-26 as per…
Read the full analysis - Waaree Energies Limited Announces 36th Annual General Meeting for September 24, 2026, Including Dividend DeclarationAGM/EGMlow impact
Cruxal's analysis: Waaree Energies Limited has scheduled its 36th Annual General Meeting (AGM) for September…
Read the full analysis - Waaree Energies Ltd announces 36th Annual General MeetingCompany Updatelow impact
Cruxal's analysis: Waaree Energies Ltd has published a newspaper notice regarding the scheduling of its 36th…
Read the full analysis - Waaree Energies announces consolidation of manufacturing facilities to Chikhli, GujaratCompany Updatelow impact
Cruxal's analysis: Waaree Energies is consolidating its manufacturing operations by shifting facilities from…
Read the full analysis - Waaree Energies Ltd announces completion of five-year term for Independent Director Ms. Richa GoyalCompany Updatelow impact
Cruxal's analysis: Waaree Energies Ltd has formally announced the completion of the first five-year term of…
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