Waaree Renewab.

INR
1,043.25
27.25 (2.68%)
BSENSE

May 06

BSE+NSE Vol: 2.9 lacs

  • 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

2.9 lacs (-3.10%) Volume

Shareholding (Mar 2026)

FII

1.85%

Held by 75 FIIs

DII

0.02%

Held by 0 DIIs

Promoter

74.32%

Who are the top shareholders of the Waaree Renewab.?

06-Jun-2025

The top shareholder of Waaree Renewab is Waaree Energies Limited, owning 74.39% of the shares. Individual investors hold 19.57%, with Hitesh P Mehta as the largest public shareholder at 1.06%, while 47 foreign institutional investors own a combined 1.13%.

The top shareholders of Waaree Renewab include Waaree Energies Limited, which holds the largest share at 74.39%. Individual investors collectively own 19.57% of the company, with the highest public shareholder being Hitesh P Mehta, who holds 1.06%. Additionally, 47 foreign institutional investors (FIIs) hold a combined 1.13% of the shares. There are no pledged promoter holdings, and no mutual funds are involved in the company's shareholding.

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Who are in the management team of Waaree Renewab.?

06-Jun-2025

As of March 2022, the management team of Waaree Renewab includes Nilesh Gandhi (Chairman), Pujan Pankaj Doshi (Managing Director), Hitesh Pranjivan Mehta (CFO), and several independent and non-executive directors. This diverse team oversees the company's governance and strategic direction.

As of March 2022, the management team of Waaree Renewab includes the following individuals:<BR><BR>1. Nilesh Gandhi - Chairman & Independent Director<BR>2. Mitul Mehta - Independent Non-Executive Director<BR>3. Anita Jaiswal - Independent Non-Executive Director<BR>4. Pujan Pankaj Doshi - Executive Director & Managing Director<BR>5. Hitesh Pranjivan Mehta - Executive Director & Chief Financial Officer<BR>6. Viren Doshi Chimanlal - Executive Director<BR>7. Sunil Nankishor Rathi - Non-Executive & Non-Independent Director<BR><BR>This team comprises a mix of executive and non-executive directors, contributing to the governance and strategic direction of the company.

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What does Waaree Renewab. do?

06-Jun-2025

Waaree Renewables Technologies Ltd is a mid-cap company in the power industry, specializing in renewable energy. As of March 2025, it reported net sales of ₹477 Cr and a net profit of ₹94 Cr, with a market cap of ₹10,843 Cr.

Overview:<BR>Waaree Renewables Technologies Ltd operates in the power industry and is categorized as a mid-cap company.<BR><BR>History:<BR>The company was originally incorporated in 1999 as Sangam Renewables Limited and was converted into a public company on November 18, 2011. It changed its name to Waaree Renewables Technologies Ltd on July 19, 2021. The latest quarterly results report net sales and profit for March 2025.<BR><BR>Financial Snapshot:<BR>Net Sales: 477 Cr (Quarterly Results - Mar 2025) <BR>Net Profit: 94 Cr (Quarterly Results - Mar 2025) <BR>Market Cap: Rs 10,843 Cr (Mid Cap)<BR><BR>Key Metrics:<BR>P/E: 47.00 <BR>Industry P/E: 68 <BR>Dividend Yield: 0.19% <BR>Debt-Equity: -0.48 <BR>Return on Equity: 51.00% <BR>Price to Book: 24.15 <BR><BR>Contact Details:<BR>Address: 504-B Western Edge-1, Off W/E Highway Borivali (E) Mumbai Maharashtra : 400066 <BR>Tel: 91-22-43331500 <BR>Email: info@sangamrenew.com

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What is the bonus history of the Waaree Renewab.?

06-Jun-2025

Waaree Renewables Technologies Ltd issued a bonus of 57:100 on July 21, 2014, with a record date of July 22, 2014, making shareholders on record eligible for the bonus shares.

Waaree Renewables Technologies Ltd has a bonus history that includes a bonus issue with a ratio of 57:100. This bonus was announced with an ex-date of July 21, 2014, and the record date was July 22, 2014. This means that shareholders on record as of the record date were eligible to receive the bonus shares. If you have any more questions about the company or its performance, feel free to ask!

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Has Waaree Renewab. declared dividend?

06-Jun-2025

Yes, Waaree Renewables Technologies Ltd has declared a 50% dividend, amounting to ₹1 per share, with an ex-date of January 24, 2025. While recent returns have been negative, long-term price returns over several years show significant growth.

Waaree Renewables Technologies Ltd has declared a 50% dividend.<BR><BR>Dividend Details:<BR>- Percentage announced: 50%<BR>- Amount per share: 1 per share<BR>- Ex-date: 24 Jan 25<BR><BR>Dividend Yield: 0.19%.<BR><BR>Total Returns by Period:<BR>In the last 6 months, the price return was -28.58%, the dividend return was 0.07%, resulting in a total return of -28.51%.<BR><BR>Over the past year, the price return was -55.11%, the dividend return was 0.10%, leading to a total return of -55.01%.<BR><BR>In the 2-year period, the price return was 407.0%, the dividend return was 1.46%, culminating in a total return of 408.46%.<BR><BR>For the 3-year period, the price return was 1405.38%, the dividend return was 5.79%, which resulted in a total return of 1411.17%.<BR><BR>In the last 4 years, the price return was 4391.98%, the dividend return was 14.22%, giving a total return of 4406.2%.<BR><BR>Finally, over the 5-year period, the price return was 53570.98%, the dividend return was 202.31%, leading to a total return of 53773.29%.<BR><BR>Overall, Waaree Renewables has declared a dividend, and while recent returns over shorter periods have been negative, the long-term returns over multiple years show significant growth, particularly in price returns.

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Who are the peers of the Waaree Renewab.?

03-Jun-2025

Waaree Renewab.'s peers include NTPC, Power Grid Corp, Adani Power, Adani Green, Tata Power Co., JP Power Ven., KPI Green Energy, GMR Urban, and RattanIndia Power. In terms of management risk, growth, and capital structure, Waaree Renewab. shows good performance, but its 1-year return of -58.78% is lower than GMR Urban's 64.40% and Adani Green's -50.84%.

Peers: The peers of Waaree Renewab. are NTPC, Power Grid Corpn, Adani Power, Adani Green, Tata Power Co., JP Power Ven., KPI Green Energy, GMR Urban, RattanIndia Pow.<BR><BR>Quality Snapshot: Excellent management risk is observed at Power Grid Corpn, while Average management risk is found at NTPC, Adani Power, Tata Power Co., KPI Green Energy, and the rest. Below Average management risk is noted for JP Power Ven. and RattanIndia Pow. Growth is Excellent for Adani Power, Tata Power Co., KPI Green Energy, and Waaree Renewab., while Good growth is seen at NTPC, JP Power Ven., and RattanIndia Pow. Below Average growth is present at Power Grid Corpn, and Adani Green does not qualify. Capital Structure is Good for Waaree Renewab., while Below Average is noted for NTPC, Power Grid Corpn, Adani Power, Tata Power Co., KPI Green Energy, and RattanIndia Pow. Average capital structure is found at JP Power Ven., and Adani Green and GMR Urban do not qualify.<BR><BR>Return Snapshot: The peer with the highest 1-year return is GMR Urban at 64.40%, while the lowest is Adani Green at -50.84%. Waaree Renewab.'s 1-year return is -58.78%, which is lower than both of these peers. Additionally, the six-month return is negative for NTPC, Power Grid Corpn, Adani Green, Tata Power Co., and RattanIndia Pow.

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Is Waaree Renewab. overvalued or undervalued?

09-Jun-2025

As of March 20, 2023, Waaree Renewables is considered very expensive with high valuation ratios, including a PE of 46.27 and an EV to EBITDA of 33.86, despite strong ROCE and ROE figures, and has underperformed the Sensex with a return of -54.62%.

As of 20 March 2023, the valuation grade for Waaree Renewables has moved from expensive to very expensive. The company is currently overvalued based on its high valuation ratios. The PE ratio stands at 46.27, while the Price to Book Value is significantly high at 23.60, and the EV to EBITDA ratio is 33.86. <BR><BR>In comparison to its peers, Waaree Renewables has a lower PEG ratio of 0.77 compared to ABB's 2.32 and BHEL's 0.61, yet it still reflects a very expensive valuation status. Notably, while Waaree has shown a strong ROCE of 128.35% and ROE of 51.00%, these figures do not justify the current high price levels. Additionally, the stock has underperformed against the Sensex over the past year, with a return of -54.62% compared to the Sensex's 7.59%.

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How big is Waaree Renewab.?

24-Jul-2025

As of 24th July, Waaree Renewable Technologies Ltd has a market capitalization of 11,554.00 Cr, with recent Net Sales of 1,964.59 Cr and a Net Profit of 287.30 Cr.

As of 24th July, Waaree Renewable Technologies Ltd has a market capitalization of 11,554.00 Cr, categorizing it as a Mid Cap company.<BR><BR>For the latest four quarters, the company reported Net Sales of 1,964.59 Cr and a Net Profit of 287.30 Cr.<BR><BR>The latest annual period for the balance sheet is March 2024, with Shareholder's Funds amounting to 232.26 Cr and Total Assets valued at 714.02 Cr.

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When is the next results date for Waaree Renewab.?

08-Oct-2025

Waaree Renewab. will declare its results on 10 October 2025.

Waaree Renewab. will declare its results on 10 October 2025.

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How has been the historical performance of Waaree Renewab.?

03-Nov-2025

Waaree Renewab has shown significant growth from 2021 to 2025, with net sales increasing from INR 12.98 crore to INR 1,597.75 crore, and profit after tax improving from a loss of INR 2.37 crore to a profit of INR 228.92 crore. The company's total assets also rose substantially, indicating strong overall financial performance.

Answer:<BR>The historical performance of Waaree Renewab shows significant growth in net sales and profitability over the years, particularly from 2021 to 2025.<BR><BR>Breakdown:<BR>Waaree Renewab's net sales have increased dramatically from INR 12.98 crore in March 2021 to INR 1,597.75 crore in March 2025, reflecting a robust upward trend. The total operating income followed a similar trajectory, rising from INR 12.98 crore in March 2021 to INR 1,597.75 crore in March 2025. The company's total expenditure, excluding depreciation, also rose significantly, reaching INR 1,286.85 crore in March 2025, up from just INR 5.99 crore in March 2021. Operating profit (PBDIT) has shown a remarkable increase, climbing from INR 6.99 crore in March 2021 to INR 325.70 crore in March 2025, while profit before tax surged from INR 3.40 crore in March 2021 to INR 300.48 crore in March 2025. The profit after tax has also improved significantly, moving from a loss of INR 2.37 crore in March 2021 to a profit of INR 228.92 crore in March 2025. The company's total assets increased from INR 121.60 crore in March 2020 to INR 1,120.12 crore in March 2025, indicating strong growth in its asset base. Total liabilities also rose, but at a slower pace, from INR 121.60 crore in March 2020 to INR 1,120.12 crore in March 2025. Cash flow from operating activities improved significantly, reaching INR 302 crore in March 2025, compared to INR 2 crore in March 2021. Overall, Waaree Renewab has demonstrated a strong upward trend in both revenue and profitability over the past few years.

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Is Waaree Renewab. technically bullish or bearish?

03-Dec-2025

As of December 2, 2025, Waaree Renewab. shows a mildly bullish trend in the short term, but mixed signals from various indicators suggest significant bearish pressures in the longer time frames.

As of 2 December 2025, the technical trend for Waaree Renewab. has changed from sideways to mildly bullish. However, the overall technical stance remains mixed. The daily moving averages indicate a mildly bullish sentiment, while the weekly and monthly MACD readings are mildly bearish. The Bollinger Bands also reflect a bearish outlook on both weekly and monthly time frames. The KST shows a bullish signal on the weekly but is mildly bearish on the monthly, and the OBV is mildly bearish weekly but bullish monthly. The Dow Theory indicates no clear trend in both weekly and monthly perspectives. Given these conflicting indicators, the current stance is mildly bullish but with significant bearish pressures in the longer time frames.

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Are Waaree Renewable Technologies Ltd latest results good or bad?

17-Apr-2026

Waaree Renewable Technologies Ltd's latest Q4 FY26 results are strong, with net sales up 29.53% sequentially and 131.31% year-on-year, alongside a net profit increase of 29.55% quarter-on-quarter. However, concerns about margin compression and high stock valuations suggest investors should proceed with caution.

Waaree Renewable Technologies Ltd's latest results for Q4 FY26 can be characterized as strong overall, showcasing impressive revenue growth and profitability. The company reported net sales of ₹1,102.40 crores, which reflects a remarkable 29.53% increase sequentially and a staggering 131.31% increase year-on-year. Additionally, the net profit for the quarter was ₹155.74 crores, marking a 29.55% quarter-on-quarter growth and a 66.02% increase compared to the same quarter last year.<BR><BR>Despite these positive operational metrics, there are concerns regarding the sustainability of margins. The operating margin, while stable at 18.76%, has compressed significantly from the previous year's peak of 26.51%. This compression could indicate rising competitive pressures or changes in the revenue mix, which investors should monitor closely.<BR><BR>The company's return on equity (ROE) remains exceptionally high at 46.30%, highlighting strong capital efficiency. However, the stock trades at high valuations, with a price-to-earnings ratio of 26.47 and a price-to-book ratio of 16.89, raising questions about whether these premiums are justified in the long term.<BR><BR>In summary, while Waaree Renewable's financial performance in terms of revenue and profit growth is impressive, the challenges related to margin compression and high valuations suggest a cautious approach for investors.

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Should I buy, sell or hold Waaree Renewable Technologies Ltd?

17-Apr-2026

Why is Waaree Renewable Technologies Ltd falling/rising?

05-May-2026

As of 05-May, Waaree Renewable Technologies Ltd's stock price is at 1,016.00, down 0.77% due to underperformance relative to its sector and reduced investor participation. Despite this short-term decline, the stock has shown strong long-term growth with a year-to-date increase of 5.06% and a 405.82% rise over the past three years.

As of 05-May, Waaree Renewable Technologies Ltd's stock price is currently at 1,016.00, reflecting a decrease of 7.9 points or 0.77%. This decline can be attributed to several factors. Firstly, the stock has underperformed its sector by 1.66% today, indicating weaker performance relative to its peers. Additionally, there has been a notable drop in investor participation, with delivery volume falling by 31.34% compared to the 5-day average, suggesting reduced interest from investors.<BR><BR>Despite the current decline, the stock has shown strong performance over longer periods, with a year-to-date increase of 5.06% and an impressive 405.82% rise over the past three years. However, the recent performance indicates a short-term weakness, as the stock is lower than the 5-day moving averages, although it remains above the 20, 50, 100, and 200-day moving averages.<BR><BR>Overall, while Waaree Renewable Technologies Ltd has demonstrated significant long-term growth and has a solid financial foundation, the recent drop in stock price is primarily influenced by short-term underperformance and decreased trading activity.

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iScoreScore
Click here to find our call on this stock
Strong Sell
Sell
Hold
Buy
Strong Buy

Dashboard

1

Company has a Debt to Equity ratio (avg) of 0.05 times

 
2

Healthy long term growth as Net Sales has grown by an annual rate of 203.35% and Operating profit at 160.33%

 
3

With a growth in Net Sales of 131.31%, the company declared Outstanding results in Mar 26

4

With ROE of 51.2, it has a Expensive valuation with a 11.7 Price to Book Value

5

Despite the size of the company, domestic mutual funds hold only 0.29% of the company

stock-summaryMojo Parameters

Mojo Parameters

Loading Valuation Snapshot...

Stock DNA

stock-summary
Industry

Power

stock-summary
Market cap

INR 10,695 Cr (Small Cap)

stock-summary
P/E

23.00

stock-summary
Industry P/E

64

stock-summary
Dividend Yield

0.00%

stock-summary
Debt Equity

-0.25

stock-summary
Return on Equity

51.23%

stock-summary
Price to Book

11.30

Revenue and Profits:
Net Sales:
1,102 Cr
(Quarterly Results - Mar 2026)
Net Profit:
156 Cr
stock-summaryTotal Returns
Total Returns (Price + Dividend) stock-summary
Dividend Yield (0%)
TimePeriod
Price Return
Dividend Return
Total Return
3 Months
15.87%
0%
15.87%
6 Months
-11.7%
0%
-11.7%
1 Year
10.39%
0%
10.39%
2 Years
-63.67%
0.09%
-63.58%
3 Years
419.39%
1.80%
421.19%
4 Years
1597.72%
5.49%
1603.21%
5 Years
7159.92%
17.35%
7177.27%

Latest dividend: 1 per share ex-dividend date: Jan-24-2025

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

Announcements stock-summary

Announcement under Regulation 30 (LODR)-Earnings Call Transcript

24-Apr-2026 | Source : BSE

Please find attached herewith Earning Call transcript for the investor call held on 17th April 2026

Announcement under Regulation 30 (LODR)-Newspaper Publication

18-Apr-2026 | Source : BSE

Please find attached herewith Newspaper Advertisement for the audited financials results for quarter and financial year ended March 31 2026

Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome

17-Apr-2026 | Source : BSE

Please find attached herewith Audio recording of Investor Call.

Corporate Actions stock-summary

stock-summary
BOARD MEETING

No Upcoming Board Meetings

stock-summary
DIVIDEND

Waaree Renewable Technologies Ltd has declared 50% dividend, ex-date: 24 Jan 25

stock-summary
SPLITS

Waaree Renewable Technologies Ltd has announced 2:10 stock split, ex-date: 15 Mar 24

stock-summary
BONUS

Waaree Renewable Technologies Ltd has announced 57:100 bonus issue, ex-date: 21 Jul 14

stock-summary
RIGHTS

No Rights history available

stock-summaryKey Factors

Quality key factors stock-summary

Factor
Value
Sales Growth (5y)
203.35%
EBIT Growth (5y)
160.33%
EBIT to Interest (avg)
23.20
Debt to EBITDA (avg)
0.76
Net Debt to Equity (avg)
-0.25
Sales to Capital Employed (avg)
2.88
Tax Ratio
25.17%
Dividend Payout Ratio
7.03%
Pledged Shares
0
Institutional Holding
1.95%
ROCE (avg)
95.41%
ROE (avg)
51.21%

Valuation key factors

Factor
Value
P/E Ratio
23
Industry P/E
64
Price to Book Value
11.69
EV to EBIT
16.90
EV to EBITDA
16.67
EV to Capital Employed
15.30
EV to Sales
3.21
PEG Ratio
0.22
Dividend Yield
NA
ROCE (Latest)
90.54%
ROE (Latest)
51.23%

Technicals key factors

Indicator
Weekly
Monthly
MACD
Mildly Bullish
Mildly Bearish
RSI
No Signal
No Signal
Bollinger Bands
Bullish
Mildly Bearish
Moving Averages
Mildly Bearish (Daily)
KST
Mildly Bullish
Mildly Bearish
Dow Theory
No Trend
No Trend
OBV
No Trend
No Trend
stock-summary Technical Indicator Scale: Bearish, Mildly Bearish, Sideways, Mildly Bullish, Bullish  Turned 
stock-summaryShareholding
Shareholding Snapshot : Mar 2026stock-summary
Shareholding Compare (%holding) stock-summary
Majority shareholders

Promoters

Pledged Promoter Holdings

None

Mutual Funds

Held by 7 Schemes (0.07%)

FIIs

Held by 75 FIIs (1.85%)

Promoter with highest holding

Waaree Energies Limited (74.32%)

Highest Public shareholder

Hitesh P Mehta (1.05%)

Individual Investors Holdings

19.53%

stock-summaryFinancial
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          "chgp_class": "positive"
        },
        {
          "field": "Interest",
          "val1": "13.29",
          "val2": "14.84",
          "chgp": "-10.44%",
          "chgp_class": "positive"
        },
        {
          "field": "Exceptional Items",
          "val1": "0.00",
          "val2": "-4.02",
          "chgp": "100.00%",
          "chgp_class": "positive"
        },
        {
          "field": "Consolidate Net Profit",
          "val1": "478.70",
          "val2": "229.16",
          "chgp": "108.89%",
          "chgp_class": "positive"
        },
        {
          "field": "Operating Profit Margin (Excl OI)",
          "val1": "19.24%",
          "val2": "19.46%",
          "chgp": "-0.22%",
          "chgp_class": "negative"
        }
      ]
    }
  }
]

Quarterly Results Snapshot (Consolidated) - Mar'26 - YoYstock-summary

Mar'26
Mar'25
Change(%)
Net Sales
1,102.40
476.58
131.31%
Operating Profit (PBDIT) excl Other Income
206.82
126.34
63.70%
Interest
2.68
4.38
-38.81%
Exceptional Items
0.00
-4.02
100.00%
Consolidate Net Profit
155.74
93.81
66.02%
Operating Profit Margin (Excl OI)
18.76%
26.51%
-7.75%
Values in Rs Cr.
Direction Arrows
Net Sales

YoY Growth in quarter ended Mar 2026 is 131.31% vs 74.37% in Mar 2025

Direction Arrows
Consolidated Net Profit

YoY Growth in quarter ended Mar 2026 is 66.02% vs 82.72% in Mar 2025

Half Yearly Results Snapshot (Consolidated) - Sep'25stock-summary

Sep'25
Sep'24
Change(%)
Net Sales
1,377.97
760.82
81.12%
Operating Profit (PBDIT) excl Other Income
275.49
112.64
144.58%
Interest
7.18
7.11
0.98%
Exceptional Items
0.00
0.00
Consolidate Net Profit
202.74
81.84
147.73%
Operating Profit Margin (Excl OI)
19.99%
14.81%
5.18%
Values in Rs Cr.
Direction Arrows
Net Sales

Growth in half year ended Sep 2025 is 81.12% vs 172.70% in Sep 2024

Direction Arrows
Consolidated Net Profit

Growth in half year ended Sep 2025 is 147.73% vs 177.89% in Sep 2024

Nine Monthly Results Snapshot (Consolidated) - Dec'25stock-summary

Dec'25
Dec'24
Change(%)
Net Sales
2,229.03
1,121.17
98.81%
Operating Profit (PBDIT) excl Other Income
434.29
184.56
135.31%
Interest
10.60
10.46
1.34%
Exceptional Items
0.00
0.00
Consolidate Net Profit
322.96
135.35
138.61%
Operating Profit Margin (Excl OI)
19.48%
16.46%
3.02%
Values in Rs Cr.
Direction Arrows
Net Sales

YoY Growth in nine months ended Dec 2025 is 98.81% vs 85.87% in Dec 2024

Direction Arrows
Consolidated Net Profit

YoY Growth in nine months ended Dec 2025 is 138.61% vs 44.45% in Dec 2024

Annual Results Snapshot (Consolidated) - Mar'26stock-summary

Mar'26
Mar'25
Change(%)
Net Sales
3,331.42
1,597.75
108.51%
Operating Profit (PBDIT) excl Other Income
641.09
310.90
106.20%
Interest
13.29
14.84
-10.44%
Exceptional Items
0.00
-4.02
100.00%
Consolidate Net Profit
478.70
229.16
108.89%
Operating Profit Margin (Excl OI)
19.24%
19.46%
-0.22%
Values in Rs Cr.
Direction Arrows
Net Sales

YoY Growth in year ended Mar 2026 is 108.51% vs 82.30% in Mar 2025

Direction Arrows
Consolidated Net Profit

YoY Growth in year ended Mar 2026 is 108.89% vs 54.70% in Mar 2025

stock-summaryCompany CV
About Waaree Renewable Technologies Ltd stock-summary
stock-summary
Waaree Renewable Technologies Ltd
Small Cap
Power
Sangam Renewables Limited was originally incorporated on 22 June 1999. The Company got converted into a Public Company on November 18, 2011 and thereafter the name was changed from `Sangam Renewables Limited' to `Waaree Renewable Technologies Limited' vide fresh Certificate of Incorporation issued by the Registrar of Companies on July 19, 2021.
Company Coordinates stock-summary
Company Details
504-B Western Edge-1, Off W/E Highway Borivali (E) Mumbai Maharashtra : 400066
stock-summary
Tel: 91-22-43331500
stock-summary
stock-summary
info@sangamrenew.com
Registrar Details
Purva Shareregistry (India) Pvt Ltd , Gala No 9, Shiv Shakti, Industrial Estate,Sitaram Mill Comp., J R Boricha Marg, Lower Parel [E], Mumbai