Is Waaree Renewable Technologies Ltd (WAAREERTL) a good quality company?

Past 10 year's financial track record analysis by Moneyworks4me indicates that Waaree Renewable Technologies Ltd is a average quality company .

Is Waaree Renewable Technologies Ltd (WAAREERTL) undervalued or overvalued?

The key valuation ratios of Waaree Renewable Technologies Ltd's currently when compared to its past seem to suggest it is in the Fair zone .

What is Waaree Renewable Technologies Ltd (WAAREERTL) share price return in the past 10 years?

Waaree Renewable Technologies Ltd share price has appreciated 86.7% annually (CAGR) over the past ten years.

Is Waaree Renewable Technologies Ltd (WAAREERTL) a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Strong which suggest that the price of Waaree Renewable Technologies Ltd is likely to Rise in the short term. However, please check the rating on Quality and Valuation before investing

What is the share price of Waaree Renewable Technologies Ltd (WAAREERTL)?

Company share prices are keep on changing according to the market conditions. The current trading price of Waaree Renewable Technologies Ltd (WAAREERTL) on 17-Apr-2026 16:59:59 at 16:59 is 1116.85.

What is the P/E ratio of Waaree Renewable Technologies?

The latest standalone P/E ratio of Waaree Renewable Technologies as of 17-Apr-2026 is 26.37.

What is the P/B ratio of Waaree Renewable Technologies Ltd (WAAREERTL)?

The latest standalone P/B ratio of Waaree Renewable Technologies Ltd (WAAREERTL) as of 17-Apr-2026 is 14.14.

What is the 52-week high and low of Waaree Renewable Technologies Ltd (WAAREERTL)?

The 52-week high of Waaree Renewable Technologies Ltd (WAAREERTL) is Rs. 1358.50 and the 52-week low is Rs. 780.00.

Waaree Renewable Technologies Ltd (WAAREERTL) Share Analysis – Order Book, Quality & Valuation Zone & DeciZen Rating

Name: Waaree Renewable Technologies Ltd (WAAREERTL)
Brand: Waaree Renewable Technologies

Waaree Renewable Technologies Ltd (WAAREERTL) Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating

Waaree Renewable Technologies Ltd (WAAREERTL)

BSE: 534618 NSE: WAAREERTL

Key Metrics

Market Cap

₹11,053 Cr.

P/E Ratio

26.37

Price to Book (P/B)

14.14

Price to Sales (P/S)

4.09

EV/EBITDA

18.51

Return on Capital Employed (ROCE)

81.83%

Current Price

₹1,116.9

Return on Equity (ROE)

65.47%

Return on Assets (ROA)

24.99%

Operating Profit Margin

19.5%

Net Profit Margin

14.37%

Gross Profit Margin

19.5%

Book Value per Share

₹74.9

Sales Growth (YoY)

82.32%

Sales Growth (3 Years)

118.3%

Operating Profit Growth (1 Year)

50.31%

Operating Profit Growth (3 Years)

186.46%

Net Profit Growth (1 Year)

57.75%

52-Week Low / High

₹780 / 1,359

Net Profit Growth (3 Years)

124.06%

Dividend Yield

0.11%

Promoter Holding

74.32%

Pledged shares (%)
of Promoter's holding (%)

0.00%

Check Before You Invest

Q.1 Revenue growth of Waaree Renewable Technologies Ltd?

Waaree Renewable Technologies Ltd revenue growth is 82.3% for FY-2025 , which is below its 5 year CAGR of 281.4% , indicating slower growth.

Q.1 Promoter shareholding and pledge status of Waaree Renewable Technologies Ltd?

Promoters hold 74.32% of the Waaree Renewable Technologies Ltd, with 0.00% of their stake pledged, indicating no pledge risk.

Q.1 Revenue growth of Waaree Renewable Technologies Ltd vs industry peers?

Waaree Renewable Technologies Ltd revenue CAGR is 281.38% , compared to the industry median CAGR of 0% , indicating faster growth and gaining its market share.

Q.1 Which industry/sub-sector does Waaree Renewable Technologies Ltd belong to?

Waaree Renewable Technologies Ltd belongs to the Construction & Infrastructure sector, operating specifically within the Engineering - Construction segment.

Q.1 Stock return of Waaree Renewable Technologies Ltd over the last decade?

Over the last 9 year(s), the stock has delivered a CAGR of 86.7% based on the current price.

DeciZen - make an informed investing decision on Waaree Renewables

Based on:

Data

Overall Rating ⓘ
Login to view analysis.

1. Quality

2. Valuation ⓘ

3. Price Trend

Waaree Renewable Technologies stock performance

Key Ratios

Is Waaree Renewable Technologies Ltd an attractive stock to invest in?

10 Year X-Ray : Login to view analysis.

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Value Creation ⓘ

Value Creation Index Colour Code Guide ⓘ

	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25	TTM
ROCE % ⓘ	1.3%	-0.3%	4.8%	10.9%	5.2%	9.2%	45%	98.9%	102.8%	81.8%	-
Value Creation Index ⓘ	-0.9	-1.0	-0.7	-0.2	-0.6	-0.3	2.2	6.1	6.6	5.1	-
Growth Parameters ⓘ Growth Parameters Colour Code Guide ⓘ
Sales ⓘ	0.5	0.1	1.3	5	2	7.6	154	342	876	1,597	2,705
Sales YoY Gr.	-	-83.3%	1,525%	286.9%	-60.6%	283.8%	1,920.5%	122.5%	156.4%	82.3%	-
Adj EPS ⓘ	0	0	0	0.1	-0	0.2	1.3	5.7	14	22.1	40.2
YoY Gr.	-	50%	-33.3%	200%	-150%	NA	495.5%	335.1%	144.9%	58.2%	-
BVPS (₹) ⓘ	2	2	2.1	2.1	2.9	3.2	5	10.6	23.6	43.7	74.9
Adj Net Profit ⓘ	0.1	0.2	0.1	0.3	-0.3	2.3	13.6	59.3	145	230	419
Cash Flow from Ops. ⓘ	-0.1	-1.9	0.5	4.5	3.3	3.3	33.5	58.2	128	302	-
Debt/CF from Ops. ⓘ	0	0	0	8	11.1	11.3	0	0	0.3	0.1	-

CAGR ⓘ

CAGR Colour Code Guide ⓘ

	9 Years	5 Years	3 Years	1 Years
Sales ⓘ	146.2%	281.4%	118.3%	82.3%
Adj EPS ⓘ	117.8%	NA	156.4%	58.2%
BVPSⓘ	40.6%	71.8%	105.7%	85%
Share Price	86.7%	144.7%	84.4%	0.9%

Key Financial Parameters ⓘ

Performance Ratio Colour Code Guide ⓘ

	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25	TTM
Return on Equity % ⓘ	0.9	1.5	1.2	2.9	-1.4	7.4	32	72.5	81	65.4	67.8
Op. Profit Mgn % ⓘ	27.6	-282.8	-16.2	49.5	2.2	36.2	8.6	22.2	23.6	19.5	19.2
Net Profit Mgn % ⓘ	19.4	207.1	9.4	6.1	-14.1	30.8	8.9	17.4	16.6	14.4	15.5
Debt to Equity ⓘ	0	0	0	3.4	1.2	1.1	0	0	0.2	0.1	0
Working Cap Days ⓘ	7,134	46,185	1,586	494	4,123	1,925	163	129	121	120	65
Cash Conv. Cycle ⓘ	2,814	27,312	930	108	262	-36	-20	-16	2	28	19

Recent Performance Summary

Latest Financials

	Standalone	Consolidated
TTM EPS (₹)	40.2	39.9
TTM Sales (₹ Cr.)	2,705	2,706
BVPS (₹) ⓘ	74.9	74.6
Reserves (₹ Cr.) ⓘ	761	757
P/BV ⓘ	14.14	14.20
PE ⓘ	26.37	26.52

From the Market
52 Week Low / High (₹)	780.00 / 1358.50
All Time Low / High (₹)	1.48 / 3037.75
Market Cap (₹ Cr.)	11,053
Equity (₹ Cr.)	20.9
Face Value (₹)	2
Industry PE ⓘ	30.6

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged ^*

0.00

* Pledged shares as % of Promoter's holding (%)

Valuation of Waaree Renewables - Standalone Basis

YTD 1Y 3Y 5Y 10Y Max

Analyst's Notes

No data found!

Key Ratios

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)

PARTICULARS	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25
Sales	0	0	1	5	2	8	154	342	876	1,597
Operating Expenses ⓘ +	0	1	2	3	2	5	140	266	669	1,286
Manufacturing Costs	0	0	0	0	0	0	1	3	7	12
Material Costs	0	0	0	0	0	4	132	250	639	1,231
Employee Cost	0	0	0	1	1	1	6	9	17	30
Other Costs ⓘ	0	0	1	2	1	0	1	3	6	14
Operating Profit ⓘ	0	-0	-0	2	0	3	13	76	207	311
Operating Profit Margin (%)	27.6%	-640.0%	-16.2%	49.5%	2.1%	36.2%	8.6%	22.2%	23.6%	19.5%
Other Income ⓘ +	0	0	1	1	3	4	14	5	4	15
Exceptional Items ⓘ	0	0	0	0	0	0	0	0	0	-4
Interest ⓘ	0	0	0	2	3	4	1	1	7	15
Depreciation ⓘ	0	0	0	0	0	0	0	0	6	6
Profit Before Tax ⓘ	0	-0	0	1	-0	3	26	80	199	301
Tax ⓘ	0	-0	0	1	-0	0	6	20	53	72
Profit After Tax	0	-0	0	0	-0	2	20	59	145	229
PAT Margin (%)	19.4%	-43.3%	9.4%	6.2%	-9.4%	30.8%	13.3%	17.4%	16.6%	14.4%
Adjusted EPS (₹)	0.0	-0.0	0.0	0.1	-0.0	0.2	2.0	5.7	14.0	22.0
Dividend Payout Ratio (%)	0%	0%	0%	0%	0%	0%	10%	4%	7%	5%

Balance Sheet

(All Figures are in Crores.)

PARTICULARS	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25
Equity and Liabilities
Shareholders Fund +	10	10	10	11	30	33	52	111	246	455
Share Capital ⓘ	10	10	10	10	21	21	21	21	21	21
Reserves ⓘ	0	0	0	1	10	12	31	90	225	434
Debt +	0	0	0	36	37	37	0	0	37	24
Long Term Debt	0	0	0	36	37	37	0	0	27	24
Short Term Debt	0	0	0	0	0	0	0	0	10	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
Trade Payables	0	0	0	0	0	3	58	77	298	234
Others Liabilities ⓘ	0	0	2	1	1	11	22	67	134	408
Total Liabilities ⓘ	10	10	12	48	68	83	132	254	715	1,121
Fixed Assets
Net Fixed Assets ⓘ +	0	0	4	4	3	3	3	9	154	195
Gross Block	0	0	4	4	4	4	4	10	165	213
Accumulated Depreciation	0	0	0	0	0	1	1	1	11	17
CWIP ⓘ	0	0	0	0	0	0	0	80	3	56
Investments ⓘ	1	0	0	32	32	32	1	0	9	52
Inventories	5	6	0	0	0	0	2	37	29	6
Trade Receivables	0	0	0	3	0	2	45	61	372	497
Cash Equivalents	0	0	7	1	0	1	39	13	121	193
Others Assets ⓘ	4	3	1	9	33	45	43	54	27	121
Total Assets ⓘ	10	10	12	48	68	83	132	254	715	1,121

Cash Flow

(All Figures are in Crores.)

PARTICULARS	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25
Cash Flow From Operating Activity ⓘ +	-0	-2	0	5	3	3	34	58	128	302
PBT ⓘ	0	-0	0	1	-0	3	26	80	199	301
Adjustment ⓘ	0	-0	-1	2	0	0	-12	-3	10	7
Changes in Working Capital ⓘ	-0	-1	1	2	4	1	23	-14	-55	65
Tax Paid ⓘ	-0	-0	-0	-0	-0	-0	-3	-5	-25	-71
Cash Flow From Investing Activity ⓘ +	0	1	-3	-31	3	-8	19	-66	-114	-237
Capex	0	0	-4	-0	-0	0	-0	-86	-11	-101
Net Investments	0	1	-0	-32	-0	0	-26	16	-107	-147
Others ⓘ	0	0	1	1	3	-8	45	4	3	12
Cash Flow From Financing Activity ⓘ +	0	1	2	27	-6	5	-39	-2	-7	-49
Net Proceeds from Shares ⓘ	0	0	0	0	20	0	0	0	0	0
Net Proceeds from Borrowing ⓘ	0	0	0	0	0	0	0	0	0	0
Interest Paid ⓘ	0	-0	-0	-2	-3	-4	-1	-1	-7	-15
Dividend Paid ⓘ	0	0	0	0	0	0	-1	-1	-2	-21
Others ⓘ	0	1	3	29	-23	9	-37	-0	1	-13
Net Cash Flow ⓘ	-0	0	-0	0	0	0	13	-10	6	17

Finance Ratio

PARTICULARS	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25
Ratios
ROE (%)	0.91	-0.32	1.2	2.96	-0.91	7.4	48.01	72.98	81.63	65.47
ROCE (%)	1.3	-0.31	4.84	10.91	5.24	9.19	44.95	98.93	102.84	81.83
Asset Turnover Ratio	0.05	0.01	0.12	0.17	0.03	0.1	1.43	1.77	1.81	1.74
PAT to CFO Conversion(x)	N/A	N/A	N/A	N/A	N/A	1.5	1.7	0.98	0.88	1.32
Working Capital Days
Receivable Days	0	0	114	119	268	60	57	57	90	99
Inventory Days	2,799	0	0	0	0	22	3	20	14	4
Payable Days	0	0	0	0	0	132	84	98	107	79

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Waaree Renewable Technologies Ltd FAQs

The current trading price of Waaree Renewables on 17-Apr-2026 16:59 is ₹1,116.9.

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 16-Apr-2026 the market cap of Waaree Renewables stood at ₹11,052.8 Cr

The latest P/E ratio of Waaree Renewables as of 16-Apr-2026 is 26.37.

The latest P/B ratio of Waaree Renewables as of 16-Apr-2026 is 14.14.

The 52-week high of Waaree Renewables is ₹1,358.5 and the 52-week low is ₹780.0.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Waaree Renewables is ₹2,705 ( Cr.) .

About Waaree Renewable Technologies Ltd

Waaree Renewables Technology Limited (WRTL) (Formally known as Sangam Renewables Limited) is a pioneer company to look after if one is going for CAPEX model. The company was incorporated on 22nd of June, 1999 as a private company limited by shares. It was converted into a public company on November 18, 2011. It has its registered office in Mumbai and its energy generation site is located in state of Maharashtra.

Business area of the company

The company is engaged in the business of generation of power through renewable energy sources and also providing consultancy service in this regard.

Solution & Service

Capex
RESCO / OPEX
Rooftop
Floating Solar
Ground Mount
Operations & Maintenance

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Name of the IA registered with SEBI:	The Alchemists Ark Pvt. Ltd.
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Trade/Brand Name of IA:	MoneyWorks4Me Investment Advisers
Brand Logo:
SEBI Registration Number:	INA000013323 Validity – May 16, 2019 – Perpetual
Registration:	Non-Individual
BSE Enlistment No:	1187
Address:	B-101, Signet Corner Building, Balewadi Phata, Baner, Pune, Maharashtra 411045
Compliance officer Details:	Name: Shrikant Jagtap Email: shrikant.jagtap@moneyworks4me.com Telephone: +919860359463 Address: Same as IA
Grievance Officer Details:	Name: Mukta Vaze Email: mukta.vaze@moneyworks4me.com Telephone: +91 98609 19463 Address: Same as IA
Principal Officer Details:	Name: Atharva Bhide Email: atharva.bhide@moneyworks4me.com Telephone: +91 91758 99463 Address: Same as IA
Standard Warning:	Investment in securities market are subject to market risks. Read all the related documents carefully before investing.
Disclaimer:	Registration granted by SEBI, enlistment with exchange and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.

Waaree Renewable Technologies Ltd (WAAREERTL) Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating

Waaree Renewables Share Price