WAAREEENER · NSE
Waaree Energies Limited
₹2,560.7
+3.55% (+₹87.7)
Prev. close
₹2,473
Volume
12,24,265
Delivery %
58.6%
As of
18 Sept 2026
Price history
ETMarkets Analysis · ETMarkets.com · 05 Jul 2026
“Waaree Energies is expected to achieve a potential upside of 25% over the next 12 months, with an average target price of Rs 3,582 from its current trading price of Rs 2,859. The consensus rating among 15 analysts covering the stock is 'Buy'.”
Published mid-session at 11:37 IST. Tracking counts only prices printed after publication — the chart's dashed divider marks that moment; earlier prices never count toward entry or results.
Analyst sentiment
Analysts lean bullish
1 analyst stance · last 90 days · one per analyst
Trackable
1 · 1 bull / 0 neutral / 0 bear
Long-Horizon
none in window
Commentary
none in window
Trackable = verdict-bearing calls · Long-Horizon = 1yr+ horizon, verdict pending · Commentary = context, not graded
Analyst opinions
| Call | Analyst | Instrument | Verdict | Actions | |||
|---|---|---|---|---|---|---|---|
| “Waaree Energies is expected to achieve a potential upside of 25% over the next 12 months, with an average target price o…” | ETMarkets AnalysisETMarkets.com | Waaree Energies | PENDING | ||||
“Waaree Energies is expected to achieve a potential upside of 25% over the next 12 months, with an average target price of Rs 3,582 from its current trading price of Rs 2,859. The consensus rating among 15 analysts covering the stock is 'Buy'.” This call hasn't reached its evaluation window yet — the verdict will appear here once it's graded. | |||||||
Fundamentals
About Waaree Energies Limited
Waaree Energies Limited manufactures and trades in solar photovoltaic modules in India and internationally. It operates through Solar Photovoltaic Modules; Generation of Power; and Engineering, Procurement and Construction Contract segments. The company offers PV modules, such as HJT, N Type, mono PERC, flexible, and special modules; single and three phase on-grid inverter; solar kits; battery energy storage system; electrolyzer stacks; smart meter; transformer; and Waaree lights. It also provides engineering, procurement, and construction services; asset management; and solar systems for emerging, hybrid, and niche formats, including tracker-integrated systems, agrovoltaics, BIPV, and repowering legacy plants. The company serves engineering, procurement and construction companies; power production companies; power generation utilities; and individual consumers. The company was founded in 1989 and is based in Mumbai, India.
Details
Sector
Technology
Industry
Solar
CEO
Dr. Jignesh Devchandbhai Rathod
Headquarters
Mumbai
Employees
2,110
Website
waaree.comExchange
View on NSE ↗Key stats
Market cap
₹73,658.87 Cr
P/E ratio (TTM)
19.3
Dividend yield
0.16%
EPS (TTM)
₹132.55
Beta (1Y · daily vs NIFTY 50)
0.90
Shares float
8.33 Cr
EPS · quarter ended Jun 2026
₹29.50
Financial Performance
01 · Financials
FY23 growth needs FY22 filings, which the data source doesn't provide.
02 · Earnings Per Share (EPS)
03 · Dividend Profile
Growth compares completed fiscal-year dividend totals on the company's own calendar: April–March (Indian FY), taken from its reported period-ends. Payout ledger: NSE corporate actions.
04 · Operating Efficiency (Growth Rates)
Balance-sheet-based · pre-FY23 not filed in verifiable form
05 · Capital Structure & Asset Utilization
Pre-FY23 not filed in verifiable form
Asset turnover needs a prior year of assets — omitted for the earliest available year.
06 · Asset Base Composition
Pre-FY23 not filed in verifiable form
07 · Debt Level & Coverage
Pre-FY23 not filed in verifiable form
08 · Profit & Loss
Annual
| Line item | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| ₹6,608.01 Cr | ₹11,371.23 Cr | ₹14,375.51 Cr | ₹26,536.77 Cr | |
| EBITDA | ₹910.73 Cr | ₹2,135.03 Cr | ₹3,056.00 Cr | ₹6,322.01 Cr |
| ₹482.76 Cr | ₹1,237.18 Cr | ₹1,867.39 Cr | ₹3,711.30 Cr | |
| Diluted EPS | ₹16.8 | ₹43.06 | ₹67.96 | ₹128.84 |
Total expenses (as filed), Employee benefit expense, Other expenses, Other income have filed figures for only some of the years shown — no further verified source covers the rest, so those years are left blank rather than estimated.
09 · Balance Sheet
Annual
| Line item | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| ₹7,419.92 Cr | ₹11,313.74 Cr | ₹19,485.35 Cr | ₹30,115.37 Cr | |
| ₹906.05 Cr | ₹1,091.98 Cr | ₹1,492.37 Cr | ₹3,691.89 Cr | |
| Stockholders' equity | ₹1,838.41 Cr | ₹4,087.81 Cr | ₹9,479.20 Cr | ₹14,437.34 Cr |
CWIP, Others have filed figures for only some of the years shown — no further verified source covers the rest, so those years are left blank rather than estimated.
Annual only — the data source doesn’t publish quarterly balance-sheet detail for most NSE-listed companies.
10 · Cash Flow Statement
Annual
| Line item | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| — | ₹1,560.23 Cr | ₹2,305.04 Cr | ₹3,158.21 Cr | ₹1,626.95 Cr | |
| Investing cash flow | — | ₹-2,093.82 Cr | ₹-3,340.27 Cr | ₹-6,808.37 Cr | ₹-3,953.18 Cr |
| — | ₹642.48 Cr | ₹909.19 Cr | ₹4,035.74 Cr | ₹2,573.11 Cr | |
| Capital expenditure | — | ₹-865.44 Cr | ₹-1,342.36 Cr | ₹-3,274.10 Cr | ₹-4,881.77 Cr |
| End cash position | — | ₹253.65 Cr | ₹121.39 Cr | ₹509.83 Cr | ₹774.16 Cr |
Operating cash flow, Depreciation & amortization, Change in working capital, Investing cash flow, Financing cash flow, Debt issued, Debt repaid, Dividends paid, Capital expenditure, End cash position have filed figures for only some of the years shown — no further verified source covers the rest, so those years are left blank rather than estimated.
Annual only — the data source has no quarterly cash-flow-statement coverage.
11 · Shareholding Pattern
NSE, quarterly
| Line item | Oct 24–Jun 25(4Q) | Sep 25–Dec 25(2Q) | Mar 26 | Jun 26 |
|---|---|---|---|---|
| Promoter | 64.30% | 64.22% | 64.19% | 64.12% |
| Public | 35.70% | 35.78% | 35.81% | 35.88% |
| Employee trusts | 0.00% | 0.00% | 0.00% | 0.00% |
Source: NSE quarterly shareholding-pattern filings, collapsed to periods where the reported percentages held steady — a column spanning several quarters means no change was filed across them. No FII/DII sub-split available from this source — Public includes all non-promoter, non-employee-trust holders.
12 · Peer Comparison
Technology
| Company | ||||||||
|---|---|---|---|---|---|---|---|---|
| Tata Consultancy Services Limited | ₹7.92 L Cr | ₹2,105 | 15.9 | 7.39 | 45.9% | 0.11 | +4.6% | -33.7% |
| Infosys Limited | ₹4.20 L Cr | ₹1,037.7 | 13.5 | — | 33.9% | 0.10 | +4.6% | -31.2% |
| HCL Technologies Limited | ₹3.40 L Cr | ₹1,249.3 | 19.5 | 4.53 | 22.1% | 0.07 | +11.2% | -16.4% |
| Wipro Limited | ₹1.65 L Cr | ₹166.4 | 13.5 | 1.86 | 14.9% | 0.23 | +4.0% | -34.5% |
| Tech Mahindra Limited | ₹1.38 L Cr | ₹1,537.1 | 27.0 | 4.67 | 16.2% | 0.07 | +7.2% | -0.9% |
| LTM Limited | ₹1.26 L Cr | ₹4,275.1 | 24.2 | 5.26 | 20.9% | 0.10 | +11.3% | — |
| One 97 Communications Limited | ₹1.13 L Cr | ₹1,849.9 | 175.9 | 7.05 | 3.5% | 0.01 | +21.5% | +50.5% |
| LG Electronics India Limited | ₹1.11 L Cr | ₹1,652.9 | 60.6 | 14.42 | 22.0% | 0.06 | +1.3% | — |
| Oracle Financial Services Software Limited | ₹1.01 L Cr | ₹11,896 | 29.7 | 12.93 | 33.7% | 0.00 | +12.1% | +29.7% |
| Persistent Systems Limited | ₹85,505.25 Cr | ₹5,416 | 44.7 | 10.91 | 23.8% | 0.06 | +23.5% | -2.7% |
| Dixon Technologies (India) Limited | ₹80,805.72 Cr | ₹13,005 | 43.3 | 17.28 | 30.8% | 0.21 | +25.8% | -29.1% |
| Waaree Energies Limited | ₹71,941.60 Cr | ₹2,473 | 19.3 | 4.98 | 25.7% | 0.26 | +80.5% | -31.4% |
Ranked by market cap within Technology, same metrics as the Fundamentals screener. Click a column to sort.
Documents
IPO documents
Annual reports
Concall transcripts
Official documents linked from their sources — offer documents as filed with SEBI (sebi.gov.in), annual reports and earnings-call transcripts as published on BSE (bseindia.com) and NSE (nseindia.com). Links open the source's own hosting; nothing is re-hosted here.
Index membership
30 indices
NSE weights are a free-float market-cap-share estimate, not NSE’s own published (and sometimes capped) index weight. BSE weights are BSE’s own published index weight, not an estimate. Indices without weight data are listed without one, in alphabetical order after the weighted ones.
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