Waa Solar

  • Market Cap: Micro Cap
  • Industry: Power
  • ISIN: INE799N01012
  • NSEID:
  • BSEID: 541445
INR
48.10
-1.05 (-2.14%)
BSENSE

Dec 05

BSE+NSE Vol: 3200

  • Price Points
  • Score
  • Mojo Parameters
  • Total Return
  • News and Corporate Actions
  • Key factors
  • Shareholding
  • Financials
  • CompanyCV
stock-summaryPrice Point
High/Low

1Day

52 Week

Valuation
Technical
Day's Volume

CASH

3.2 k (42.86%) Volume

Shareholding (Sep 2025)

FII

0.00%

Held by 0 FIIs

DII

0.00%

Held by 0 DIIs

Promoter

67.86%

When is the next results date for Waa Solar?

06-Jun-2025

No Upcoming Board Meetings

What is the bonus history of the Waa Solar?

06-Jun-2025

Waa Solar issued a 1:1 bonus on April 27, 2021, with a record date of April 28, 2021, granting shareholders one additional share for each share held.

Waa Solar has a bonus history that includes a notable 1:1 bonus issue announced on April 27, 2021. The record date for this bonus was April 28, 2021. This means that shareholders received one additional share for every share they held as of the record date. If you have any more questions about Waa Solar or need further details, feel free to ask!

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Has Waa Solar declared dividend?

06-Jun-2025

No Dividend History Available

Who are the peers of the Waa Solar?

03-Jun-2025

Waa Solar's peers include NTPC, Power Grid Corp, Adani Power, Adani Green, Tata Power, and others. Waa Solar has average management risk and growth, but its 1-year return of -58.07% is the lowest among its peers.

Peers: The peers of Waa Solar are NTPC, Power Grid Corpn, Adani Power, Adani Green, Tata Power Co., Energy Devl.Co., Karma Energy Ltd, Gita Renewable, Advance Meter, and Veer Energy.<BR><BR>Quality Snapshot: Excellent management risk is observed at Adani Power, while Average management risk is found at NTPC, Power Grid Corpn, Tata Power Co., and Waa Solar. Below Average management risk is noted for Energy Devl.Co., Karma Energy Ltd, Gita Renewable, Advance Meter, and Veer Energy. Growth is Excellent at Adani Power and Good at Gita Renewable, while Average growth is seen at NTPC, Tata Power Co., Waa Solar, Energy Devl.Co., Karma Energy Ltd, and Advance Meter. Below Average growth is present at Power Grid Corpn, Adani Green, and Veer Energy, while Adani Green does not qualify for growth. Capital Structure ratings show Below Average for NTPC, Power Grid Corpn, Adani Power, Tata Power Co., Waa Solar, Energy Devl.Co., Karma Energy Ltd, Gita Renewable, Advance Meter, and Veer Energy, while Adani Green does not qualify.<BR><BR>Return Snapshot: The peer with the highest 1-year return is Energy Devl.Co. at -14.39%, while Waa Solar has the lowest at -58.07%, indicating that Waa Solar's return is significantly worse than its peers. Additionally, the six-month return is negative for NTPC, Power Grid Corpn, Adani Green, Tata Power Co., Waa Solar, Energy Devl.Co., and Advance Meter.

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What is the technical trend for Waa Solar?

09-Jun-2025

As of May 12, 2025, Waa Solar's technical trend is mildly bearish, influenced by mixed signals from MACD and moving averages, with weekly indicators showing mild bullishness while monthly indicators remain bearish.

As of 12 May 2025, the technical trend for Waa Solar has changed from bearish to mildly bearish. The weekly MACD indicates a mildly bullish stance, while the monthly MACD remains bearish. The RSI shows no signal on the weekly chart but is bullish on the monthly. Bollinger Bands are bullish weekly but mildly bearish monthly. Daily moving averages are mildly bearish, and the KST shows a mildly bullish trend weekly and mildly bearish monthly. Dow Theory indicates a mildly bearish stance on the weekly chart with no trend on the monthly. Overall, the current technical stance is mildly bearish, driven primarily by the mixed signals from MACD and moving averages.

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Who are in the management team of Waa Solar?

16-Jul-2025

As of March 2022, the management team of Waa Solar includes Amit Khurana (Chairman & Managing Director), Mangilal Singhi (Director), Neelakshi A Khurana (Whole-time Director), and four Independent Directors: Jaini Jain, Sumitkumar Jayantibhai Patel, and Heena Parikh. Each member contributes to the company's strategic direction and governance.

As of March 2022, the management team of Waa Solar includes the following members:<BR><BR>1. Amit Khurana - Chairman & Managing Director<BR>2. Mangilal Singhi - Director<BR>3. Jaini Jain - Independent Director<BR>4. Sumitkumar Jayantibhai Patel - Independent Director<BR>5. Neelakshi A Khurana - Whole-time Director<BR>6. Heena Parikh - Independent Director<BR><BR>Each member plays a crucial role in guiding the company's strategic direction and governance.

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What does Waa Solar do?

17-Jul-2025

Waa Solar Ltd is a micro-cap company focused on solar power projects, incorporated in 2009 and transitioned to a public company in 2018. It operates primarily in Gujarat and currently has a market cap of INR 98 Cr, with no recent revenue or profit data available.

Overview:<BR>Waa Solar Ltd is a company engaged in solar power projects within the power industry and operates in the micro-cap market segment.<BR><BR>History:<BR>Waa Solar Ltd was incorporated in 2009 as "Waa Solar Private Limited" and transitioned to a Public Limited Company on February 19, 2018. The company was taken over by M/s. Madhav Power Private Limited in May 2010 to focus on solar power projects in Gujarat. Revenue and profit data are not available for the latest quarter.<BR><BR>Financial Snapshot:<BR>Most recent Net Sales: N/A<BR>Most recent Net Profit: N/A<BR>Market-cap value: INR 98 Cr (Micro Cap)<BR><BR>Key Metrics:<BR>P/E: 81.00<BR>Industry P/E: 21<BR>Dividend Yield: 0.00%<BR>Debt Equity: 0.10<BR>Return on Equity: 0.67%<BR>Price to Book: 0.54<BR><BR>Contact Details:<BR>Address: Madhav House Subhanpura, Nr Panchratna Building Vadodara Gujarat : 390023<BR>Phone: 91-0265-2290722<BR>Email: info@waasolar.org<BR>Website: http://www.waasolar.org

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Who are the top shareholders of the Waa Solar?

17-Jul-2025

The top shareholders of Waa Solar include Madhav Power Private Limited with a 52.9% stake and individual investors holding 29.11%. Promoter holdings are heavily pledged at 75.16%, with no mutual funds or foreign institutional investors currently involved.

The top shareholders of Waa Solar primarily consist of promoters, with Madhav Power Private Limited holding the largest stake at 52.9%. Additionally, individual investors collectively hold 29.11% of the company. Currently, there are no mutual funds or foreign institutional investors (FIIs) holding shares in Waa Solar. The promoter holdings are significantly pledged at 75.1553%.

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How big is Waa Solar?

24-Jul-2025

As of 24th July, Waa Solar Ltd has a market capitalization of 97.00 Cr, classifying it as a Micro Cap company. Shareholder's Funds are 182.16 Cr and Total Assets are 234.58 Cr, but recent quarterly performance data is unavailable.

As of 24th July, Waa Solar Ltd has a market capitalization of 97.00 Cr, categorizing it as a Micro Cap company.<BR><BR>Recent quarterly performance data is not available, so there are no figures for Net Sales or Net Profit for the latest four quarters.<BR><BR>In the balance sheet snapshot for the period ending March 2024, Shareholder's Funds are reported at 182.16 Cr, while Total Assets amount to 234.58 Cr.

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How has been the historical performance of Waa Solar?

13-Nov-2025

Waa Solar has experienced significant financial declines, with net sales and profits decreasing from Mar'23 to Mar'25, while total assets and cash reserves increased. Operating cash flow turned negative, but financing activities showed a net inflow in Mar'25.

Answer:<BR>The historical performance of Waa Solar shows significant fluctuations in key financial metrics over the years.<BR><BR>Breakdown:<BR>Waa Solar's net sales have seen a decline from 49.04 Cr in Mar'23 to 28.25 Cr in Mar'25, with a notable drop in the previous year as well. The total operating income followed a similar trend, decreasing from 49.04 Cr in Mar'23 to 28.25 Cr in Mar'25. The total expenditure, excluding depreciation, increased from 13.61 Cr in Mar'23 to 17.90 Cr in Mar'25, impacting the operating profit, which fell from 35.43 Cr in Mar'23 to 10.35 Cr in Mar'25. Consequently, the profit before tax also declined from 10.07 Cr in Mar'23 to 3.94 Cr in Mar'25, while the profit after tax decreased from 8.30 Cr to 3.91 Cr in the same period. The company's total assets rose from 298.50 Cr in Mar'23 to 333.28 Cr in Mar'25, driven by an increase in cash and bank balances, which grew from 19.78 Cr to 38.10 Cr. However, total liabilities also increased from 298.50 Cr to 333.28 Cr, primarily due to a rise in long-term borrowings from 72.80 Cr to 122.75 Cr. The cash flow from operating activities turned negative, dropping from 36.00 Cr in Mar'23 to -4.00 Cr in Mar'25, while cash flow from financing activities improved significantly, showing a net inflow of 86.00 Cr in Mar'25 compared to an outflow in previous years. Overall, Waa Solar's financial performance reflects a challenging period with declining revenues and profits, despite an increase in total assets and cash reserves.

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Is Waa Solar overvalued or undervalued?

17-Nov-2025

As of November 14, 2025, Waa Solar is considered overvalued with a PE ratio of 64.16 and a year-to-date return of -50.34%, contrasting sharply with more attractively valued peers like NTPC and Tata Power Co.

As of 14 November 2025, Waa Solar's valuation grade has moved from fair to expensive, indicating a significant shift in its market position. The company is currently considered overvalued, with a PE ratio of 64.16, an EV to EBITDA ratio of 25.24, and a ROCE of only 1.23%. In comparison, peers such as NTPC and Tata Power Co. are valued attractively, with PE ratios of 13.41 and 30.72, respectively, highlighting the disparity in valuation metrics within the industry.<BR><BR>The high valuation of Waa Solar is further underscored by its low Price to Book Value of 0.43 and a PEG ratio of 0.00, suggesting that the stock may not be justified by its earnings growth potential. Additionally, the company's recent stock performance has lagged significantly behind the Sensex, with a year-to-date return of -50.34% compared to the Sensex's 8.22%, reinforcing the notion that Waa Solar is overvalued in the current market environment.

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Which are the latest news on Waa Solar?

04-Dec-2025

Why is Waa Solar falling/rising?

04-Dec-2025

As of 04-Dec, Waa Solar Ltd's stock price is Rs 49.49, down 2.1% and has lost 9.82% over the last three days. The stock is underperforming against the Sensex and is significantly below its moving averages, indicating a consistent decline in price performance.

As of 04-Dec, Waa Solar Ltd's stock price is falling, currently at Rs 49.49, which represents a decrease of Rs 1.06 or 2.1%. The stock has been on a downward trend, having lost 9.82% over the last three days. Additionally, it is trading lower than its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a consistent decline in its price performance.<BR><BR>In the past week, the stock has underperformed compared to the Sensex, with a decline of 2.02% against the benchmark's 0.53%. Over the past month, Waa Solar has seen a significant drop of 21.78%, while the Sensex has gained 2.16%. Year-to-date, the stock has plummeted by 58.34%, contrasting sharply with the Sensex's 9.12% increase. Furthermore, the stock is currently just 2.99% away from its 52-week low of Rs 48.01, reflecting ongoing weakness.<BR><BR>Investor participation appears to be declining, as evidenced by a 14.29% drop in delivery volume compared to the 5-day average. This lack of interest may contribute to the stock's falling price. Overall, the combination of poor recent performance, low investor participation, and trading below key moving averages suggests that Waa Solar's stock is experiencing a downward trajectory.

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iScoreScore
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Strong Sell
Sell
Hold
Buy
Strong Buy

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stock-summaryMojo Parameters
Mojo Parameters
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Stock DNA
stock-summary
Industry

Power

stock-summary
Market cap

INR 65 Cr (Micro Cap)

stock-summary
P/E

54.00

stock-summary
Industry P/E

21

stock-summary
Dividend Yield

0.00%

stock-summary
Debt Equity

0.58

stock-summary
Return on Equity

0.66%

stock-summary
Price to Book

0.36

Revenue and Profits:
Net Sales:
(Quarterly Results - )
Net Profit:
stock-summaryTotal Returns
Total Returns (Price + Dividend) stock-summary
Dividend Yield (0%)
TimePeriod
Price Return
Dividend Return
Total Return
3 Months
-27.23%
0%
-27.23%
6 Months
-41.22%
0%
-41.22%
1 Year
-64.68%
0%
-64.68%
2 Years
-34.47%
0%
-34.47%
3 Years
-6.87%
0%
-6.87%
4 Years
69.96%
0%
69.96%
5 Years
96.13%
0%
96.13%

Waa Solar for the last several years.

Risk Adjusted Returns v/s stock-summary
Returns Beta
Icon
Beta has not been calculated since enough price history is not available
stock-summaryNews & Corporate Actions
News

Why is Waa Solar falling/rising?

Recent Price Movement and Market Performance

Waa Solar’s stock price has been under pressure, with the latest session marking a continuation of losses over the past two days. The stock opened sharply lower, down 7.95%, and touched an intraday low of ₹50.41, representing an 8.13% drop from the previous close. Despite trading within a narrow range of just ₹0.22 during the day, the stock’s inability to recover highlights persistent bearish sentiment.

Comparatively, the stock has underperformed its sector by 6.82% on the day, signalling weakness relative to its peers. This underperformance is compounded by the fact that Waa Solar is trading below all key moving averages, including the 5-day, 20-day, 50-day, 100-day, and 200-day averages, which typically indicates a bearish...

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Announcements stock-summary

Board Meeting Outcome for Submission Of Unaudited Financial Results (Standalone And Consolidated) For Half Year Ended On September 30 2025.

12-Nov-2025 | Source : BSE

We hereby inform you that the Board of Directors of the Company in their meeting held today i.e. Wednesday the 12th of November 2025 for consideration and approval of the Standalone and Consolidated Unaudited Financial Results of the Company for the half year ended on September 30 2025.

Announcement under Regulation 30 (LODR)-Change in Management

12-Nov-2025 | Source : BSE

Intimation of Appointment of Mr. Prashant Kumar Gupta as Non-Executive Independent Director of the Company w.e.f. November 12 2025.

Submission Of Standalone And Consolidated Unaudited Financial Results For The Half Year Ended On September 30 2025 Along With The Limited Review Report.

12-Nov-2025 | Source : BSE

Unaudited Financial Results for the half year ended on September 30 2025.

Corporate Actions stock-summary
stock-summary
BOARD MEETING

No Upcoming Board Meetings

stock-summary
DIVIDEND

No Dividend history available

stock-summary
SPLITS

No Splits history available

stock-summary
BONUS

Waa Solar Ltd has announced 1:1 bonus issue, ex-date: 27 Apr 21

stock-summary
RIGHTS

No Rights history available

stock-summaryKey Factors
Quality key factors stock-summary
Factor
Value
Sales Growth (5y)
2.00%
EBIT Growth (5y)
-18.32%
EBIT to Interest (avg)
1.84
Debt to EBITDA (avg)
18.26
Net Debt to Equity (avg)
0.43
Sales to Capital Employed (avg)
0.09
Tax Ratio
2.42%
Dividend Payout Ratio
0
Pledged Shares
75.16%
Institutional Holding
0
ROCE (avg)
1.23%
ROE (avg)
2.32%
Valuation key factors
Factor
Value
P/E Ratio
54
Industry P/E
21
Price to Book Value
0.36
EV to EBIT
48.14
EV to EBITDA
23.51
EV to Capital Employed
0.59
EV to Sales
6.22
PEG Ratio
NA
Dividend Yield
NA
ROCE (Latest)
1.23%
ROE (Latest)
0.66%
Technicals key factors
Indicator
Weekly
Monthly
MACD
Bearish
Bearish
RSI
Bullish
No Signal
Bollinger Bands
Bearish
Bearish
Moving Averages
Bearish (Daily)
KST
Bearish
Bearish
Dow Theory
Mildly Bearish
No Trend
stock-summary Technical Indicator Scale: Bearish, Mildly Bearish, Sideways, Mildly Bullish, Bullish  Turned 
stock-summaryShareholding
Shareholding Snapshot : Sep 2025stock-summary
Shareholding Compare (%holding) stock-summary
Majority shareholders

Promoters

Pledged Promoter Holdings

75.1553

Mutual Funds

Held by 0 Schemes

FIIs

Held by 0 FIIs

Promoter with highest holding

Madhav Power Private Limited (52.9%)

Highest Public shareholder

None

Individual Investors Holdings

29.14%

stock-summaryFinancial
[
  {
    "link": "quarterly",
    "btn_text": "All Quarterly Results",
    "alert": "No Quarterly Results declared by Waa Solar"
  },
  {
    "link": "half-yearly",
    "btn_text": "All Half Yearly Results",
    "header": "Half Yearly Results Snapshot (Consolidated) - Sep'25",
    "rhs": [
      {
        "prefix": "Net Sales ",
        "suffix": " Growth in half year ended Sep 2025 is -36.44% vs -3.62% in Mar 2025",
        "dir": -1
      },
      {
        "prefix": "Consolidated Net Profit ",
        "suffix": " Growth in half year ended Sep 2025 is -74.93% vs 2,603.45% in Mar 2025",
        "dir": -1
      }
    ],
    "table": {
      "header": [
        "Sep'25",
        "Mar'25",
        "Change(%)"
      ],
      "body": [
        {
          "field": "Net Sales",
          "val1": "8.81",
          "val2": "13.86",
          "chgp": "-36.44%",
          "chgp_class": "negative"
        },
        {
          "field": "Operating Profit (PBDIT) excl Other Income",
          "val1": "6.35",
          "val2": "5.65",
          "chgp": "12.39%",
          "chgp_class": "positive"
        },
        {
          "field": "Interest",
          "val1": "4.81",
          "val2": "2.86",
          "chgp": "68.18%",
          "chgp_class": "negative"
        },
        {
          "field": "Exceptional Items",
          "val1": "-0.03",
          "val2": "0.00",
          "chgp": "",
          "chgp_class": "neutral"
        },
        {
          "field": "Consolidate Net Profit",
          "val1": "1.82",
          "val2": "7.26",
          "chgp": "-74.93%",
          "chgp_class": "negative"
        },
        {
          "field": "Operating Profit Margin (Excl OI)",
          "val1": "72.08%",
          "val2": "40.76%",
          "chgp": "31.32%",
          "chgp_class": "positive"
        }
      ]
    }
  },
  {
    "link": "nine-monthly",
    "btn_text": "All Nine Monthly Results",
    "alert": "No Nine Monthly Results declared by Waa Solar"
  },
  {
    "link": "annual",
    "btn_text": "All Annual Results",
    "header": "Annual Results Snapshot (Consolidated) - Mar'25",
    "rhs": [
      {
        "prefix": "Net Sales ",
        "suffix": "YoY Growth in year ended Mar 2025 is 5.84% vs -45.58% in Mar 2024",
        "dir": 1
      },
      {
        "prefix": "Consolidated Net Profit ",
        "suffix": "YoY Growth in year ended Mar 2025 is 5.13% vs -32.62% in Mar 2024",
        "dir": 1
      }
    ],
    "table": {
      "header": [
        "Mar'25",
        "Mar'24",
        "Change(%)"
      ],
      "body": [
        {
          "field": "Net Sales",
          "val1": "28.25",
          "val2": "26.69",
          "chgp": "5.84%",
          "chgp_class": "positive"
        },
        {
          "field": "Operating Profit (PBDIT) excl Other Income",
          "val1": "10.35",
          "val2": "18.18",
          "chgp": "-43.07%",
          "chgp_class": "negative"
        },
        {
          "field": "Interest",
          "val1": "5.09",
          "val2": "4.01",
          "chgp": "26.93%",
          "chgp_class": "negative"
        },
        {
          "field": "Exceptional Items",
          "val1": "0.00",
          "val2": "0.00",
          "chgp": "",
          "chgp_class": "neutral"
        },
        {
          "field": "Consolidate Net Profit",
          "val1": "6.97",
          "val2": "6.63",
          "chgp": "5.13%",
          "chgp_class": "positive"
        },
        {
          "field": "Operating Profit Margin (Excl OI)",
          "val1": "36.64%",
          "val2": "68.12%",
          "chgp": "-31.48%",
          "chgp_class": "negative"
        }
      ]
    }
  }
]
Half Yearly Results Snapshot (Consolidated) - Sep'25stock-summary
Sep'25
Mar'25
Change(%)
Net Sales
8.81
13.86
-36.44%
Operating Profit (PBDIT) excl Other Income
6.35
5.65
12.39%
Interest
4.81
2.86
68.18%
Exceptional Items
-0.03
0.00
Consolidate Net Profit
1.82
7.26
-74.93%
Operating Profit Margin (Excl OI)
72.08%
40.76%
31.32%
Values in Rs Cr.
Direction Arrows
Net Sales

Growth in half year ended Sep 2025 is -36.44% vs -3.62% in Mar 2025

Direction Arrows
Consolidated Net Profit

Growth in half year ended Sep 2025 is -74.93% vs 2,603.45% in Mar 2025

Annual Results Snapshot (Consolidated) - Mar'25stock-summary
Mar'25
Mar'24
Change(%)
Net Sales
28.25
26.69
5.84%
Operating Profit (PBDIT) excl Other Income
10.35
18.18
-43.07%
Interest
5.09
4.01
26.93%
Exceptional Items
0.00
0.00
Consolidate Net Profit
6.97
6.63
5.13%
Operating Profit Margin (Excl OI)
36.64%
68.12%
-31.48%
Values in Rs Cr.
Direction Arrows
Net Sales

YoY Growth in year ended Mar 2025 is 5.84% vs -45.58% in Mar 2024

Direction Arrows
Consolidated Net Profit

YoY Growth in year ended Mar 2025 is 5.13% vs -32.62% in Mar 2024

stock-summaryCompany CV
About Waa Solar Ltd stock-summary
stock-summary
Waa Solar Ltd
Micro Cap
Power
Waa Solar Limited was incorporated as a Private Limited Company with the name "Waa Solar Private Limited" on November 9, 2009. The status of the Company changed to Public Limited Company and Company name was changed to "Waa Solar Limited" on February 19, 2018. The Company was promoted by Mr. Hitesh Doshi and Mr. Viren Doshi. On May 8, 2010, the company was taken over by the Promoter M/s. Madhav Power Private Limited (MPPL) by entering into solar power projects in Gujarat.
Company Coordinates stock-summary
Company Details
Madhav House Subhanpura, Nr Panchratna Building Vadodara Gujarat : 390023
stock-summary
Tel: 91-0265-2290722
stock-summary
info@waasolar.org
Registrar Details
Bigshare Services Pvt Ltd , E-2 , Ansa Industrial Estate, Saki Vihar Road, Saki Naka, Andheri (E), Mumbai