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Waaree Renewable Technologies Limited
NSE: WAAREERTL · Capital Goods
₹733.35-1.96%06 Nov 2026
Ask the data
Instant answers about Waaree Renewable Technologies Limited — computed from its filings, no language modelMarket cap₹7,656 cr
Current price₹733.35
High / Low₹1,256 / ₹656
P/E24.7
P/B6.85
Book value₹107.1
ROE27.7%
ROCE27.2%
Debt / equity1.26
Dividend yield—
EPS (TTM)₹29.69
Face value₹2
Price & valuation
split & bonus adjusted · pick a metric and rangeAnnual performance
annual · ₹ crore · line = operating margin| FY25 | FY26 | |
|---|---|---|
| Revenue | 1,598 | 3,331 |
| EBITDA | 311 | 641 |
| Operating margin | 19.5% | 19.2% |
| Interest | 15 | 13 |
| Depreciation | 6 | 9 |
| Profit before tax | 300 | 640 |
| Tax | 72 | 161 |
| Net profit | 229 | 0 |
| EPS ₹ | 22.00 | 45.91 |
| Operating cash flow | 303 | 287 |
| Capex | 101 | 122 |
| Dividend paid | 21 | 0 |
| Total assets | 1,120 | 2,374 |
| Equity | 455 | 934 |
Quarterly performance
last 7 quarters · ₹ crore| MAR '25 | JUN '25 | SEP '25 | DEC '25 | MAR '26 | JUN '26 | SEP '26 | |
|---|---|---|---|---|---|---|---|
| Revenue | 477 | 603 | 775 | 851 | 1,102 | 924 | 1,058 |
| Operating profit | 126 | 118 | 158 | 159 | 207 | 173 | 160 |
| Operating margin | 26.5% | 19.5% | 20.4% | 18.7% | 18.8% | 18.8% | 15.1% |
| Other income | 5 | 5 | 4 | 5 | 6 | 5 | 9 |
| Interest | 4 | 4 | 4 | 3 | 3 | 10 | 37 |
| Depreciation | 2 | 2 | 2 | 2 | 2 | 6 | 27 |
| Profit before tax | 121 | 117 | 157 | 158 | 208 | 163 | 105 |
| Tax | 27 | 30 | 40 | 38 | 52 | 44 | 24 |
| Net profit | 94 | 86 | 116 | 120 | 0 | 116 | 74 |
| EPS ₹ | 9.00 | 8.29 | 11.16 | 11.50 | 14.96 | 11.11 | 7.07 |
| Revenue YoY | — | — | — | — | 131.3% | 53.2% | 36.5% |
| Profit YoY | — | — | — | — | -100.0% | 34.1% | -36.5% |
Earlier results (standalone, Mar '15 – Dec '24)
₹ crore · from BSE, before the NSE XBRL filings beginWaaree Renewable Technologies Limited reports consolidated figures above. Quarterly consolidated results only became mandatory in India in 2019, so the earlier history available is the standalone company only (excluding subsidiaries). It is shown separately so the two bases are never mixed.
Full years
| FY16† | FY17† | FY18† | FY19† | FY20† | FY21† | FY22† | FY23† | FY24† | |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | 0 | 0 | 2 | 5 | 2 | 8 | 154 | 342 | 867 |
| Operating profit | 0 | -0 | 1 | 2 | 0 | 3 | 13 | 76 | 200 |
| Operating margin | 27.1% | -11.5% | 25.2% | 49.5% | 2.0% | 36.1% | 8.7% | 22.2% | 23.1% |
| Other income | — | — | — | 1 | 3 | 4 | 14 | 5 | 8 |
| Interest | — | — | — | 2 | 3 | 4 | 1 | 1 | 5 |
| Depreciation | — | — | 0 | 0 | 0 | 0 | 0 | 0 | 3 |
| Profit before tax | 0 | -0 | 0 | 1 | -0 | 3 | 26 | 80 | 200 |
| Tax | 0 | 0 | 0 | 1 | 1 | 0 | 6 | 20 | 51 |
| Net profit | 0 | -0 | 0 | 0 | -1 | 2 | 20 | 59 | 149 |
Quarters
| MAR '15† | JUN '15† | SEP '15† | DEC '15† | MAR '16† | JUN '16† | SEP '16† | DEC '16† | MAR '17† | JUN '17† | SEP '17† | DEC '17† | MAR '18† | JUN '18† | SEP '18† | DEC '18† | MAR '19† | JUN '19† | SEP '19† | DEC '19† | MAR '20† | JUN '20† | SEP '20† | DEC '20† | MAR '21† | JUN '21† | SEP '21† | DEC '21† | MAR '22† | JUN '22† | SEP '22† | DEC '22† | MAR '23† | JUN '23† | SEP '23† | DEC '23† | MAR '24† | JUN '24† | SEP '24† | DEC '24† | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 0 | 0 | -0 | 0 | 0 | 0 | 0 | -0 | 0 | 1 | 0 | 0 | 1 | 1 | 1 | 1 | 2 | 1 | 1 | 0 | 0 | 0 | 0 | 2 | 6 | 26 | 10 | 43 | 74 | 92 | 118 | 72 | 60 | 127 | 148 | 322 | 271 | 236 | 524 | 360 |
| Operating profit | 0 | 0 | -0 | 0 | 0 | 0 | 0 | -0 | 0 | 0 | 0 | 0 | 0 | -0 | -0 | 1 | 2 | 0 | 0 | -0 | -0 | -0 | -0 | 0 | 3 | 3 | -1 | 2 | 10 | 10 | 10 | 34 | 21 | 14 | 26 | 87 | 73 | 41 | 72 | 72 |
| Operating margin | 30.8% | 22.2% | 146.7% | 44.4% | 64.4% | 28.6% | 25.0% | 170.0% | 70.0% | 64.7% | 4.0% | 8.1% | 15.7% | -8.7% | -41.0% | 65.1% | 80.2% | 44.9% | 29.0% | -84.0% | -250.0% | -192.9% | -50.0% | 11.8% | 50.8% | 9.7% | -13.0% | 5.2% | 13.3% | 11.2% | 8.6% | 47.8% | 35.4% | 11.3% | 17.4% | 27.1% | 26.9% | 17.5% | 13.6% | 20.0% |
| Other income | — | — | — | — | — | — | — | — | — | — | — | — | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 11 | 1 | 1 | 1 | 1 | 1 | 1 | 2 | 2 | 2 | 2 | 3 | 3 | 4 |
| Interest | — | — | — | — | — | — | — | — | — | — | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 0 | 2 | 1 | 3 | 3 | 4 | 3 |
| Depreciation | 0 | — | — | — | — | — | — | — | — | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 2 | 2 | 2 |
| Profit before tax | 0 | 0 | -0 | 0 | 0 | 0 | 0 | -0 | 0 | 0 | 0 | 0 | 0 | -0 | -0 | 0 | 1 | 0 | -0 | -0 | -0 | -0 | 0 | 0 | 3 | 3 | 9 | 3 | 11 | 12 | 11 | 36 | 21 | 16 | 25 | 88 | 72 | 40 | 69 | 71 |
| Tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -0 | 0 | 1 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 3 | 3 | 3 | 9 | 6 | 4 | 7 | 22 | 19 | 11 | 16 | 17 |
| Net profit | 0 | 0 | -0 | 0 | 0 | 0 | 0 | -0 | 0 | 0 | 0 | 0 | -0 | -0 | -0 | 0 | 0 | -0 | -0 | -0 | -0 | -0 | -0 | 0 | 2 | 2 | 8 | 2 | 8 | 9 | 8 | 27 | 16 | 12 | 19 | 66 | 53 | 28 | 54 | 54 |
| EPS ₹ | 0.03 | 0.03 | -0.22 | 0.02 | 0.27 | 0.03 | 0.02 | -0.17 | 0.07 | 0.24 | 0.01 | 0.01 | -0.15 | -0.06 | -0.51 | 0.41 | 0.53 | -0.24 | -0.01 | -0.07 | -0.20 | -0.10 | — | 0.08 | 1.15 | 0.98 | 3.85 | 1.14 | 3.85 | 4.19 | 4.05 | 12.78 | 7.51 | 5.74 | 8.92 | 31.51 | 5.07 | 2.73 | 5.14 | 5.14 |
| Revenue YoY | — | — | — | — | 246.2% | 55.6% | — | -211.1% | -77.8% | 264.3% | 108.3% | — | 790.0% | 35.3% | 144.0% | 240.5% | 177.5% | 29.0% | 13.1% | -80.2% | -94.3% | -84.3% | -88.4% | 612.0% | 3907.1% | 18814.3% | 12700.0% | 2327.0% | 1212.8% | 248.2% | 1051.8% | 66.6% | -19.1% | 37.8% | 25.1% | 347.7% | 353.9% | 86.0% | 255.5% | 11.8% |
| Profit YoY | — | — | — | — | 800.0% | 200.0% | — | -666.7% | -74.1% | 700.0% | -50.0% | — | -285.7% | -112.5% | -1600.0% | 200.0% | — | — | — | -600.0% | -189.1% | — | — | — | — | — | — | 1294.1% | 235.1% | 327.9% | 5.0% | 1022.8% | 95.3% | 37.0% | 120.4% | 146.6% | 237.5% | 138.0% | 188.4% | -18.4% |
Returns & margins
trailing-twelve-month, per quarter| DEC '25 | MAR '26 | JUN '26 | SEP '26 | |
|---|---|---|---|---|
| ROE | 63.3% | 34.6% | 37.7% | 27.7% |
| ROCE | 83.0% | 64.3% | 69.5% | 27.2% |
| Net margin | 15.4% | 9.7% | 9.6% | 7.9% |
| EBITDA margin | 20.7% | 19.2% | 19.1% | 17.8% |
| Debt / equity | 0.04 | 0.09 | 0.09 | 1.26 |
| Interest coverage | 37.90 | 49.16 | 36.55 | 13.10 |
| Asset turnover | 1.86 | 1.40 | 1.54 | 0.81 |
Balance sheet
equity vs borrowings over time · ₹ crore| MAR '25 | SEP '25 | MAR '26 | SEP '26 | |
|---|---|---|---|---|
| Share capital | 21 | 21 | 21 | 21 |
| Other equity / reserves | 435 | 637 | 913 | 1,098 |
| Total equity | 455 | 658 | 934 | 1,118 |
| Borrowings | 27 | 26 | 82 | 1,413 |
| Current liabilities | 613 | 689 | 1,329 | 1,963 |
| Non-current liabilities | 52 | 105 | 111 | 1,160 |
| Total assets | 1,120 | 1,451 | 2,374 | 4,869 |
| Property, plant & equipment | 195 | 256 | 269 | 664 |
| Capital work-in-progress | 56 | 119 | 178 | 162 |
| Investments | 52 | 61 | 31 | 112 |
| Inventories | 6 | 54 | 117 | 273 |
| Receivables | 498 | 614 | 1,172 | 1,878 |
| Cash & equivalents | 27 | 68 | 72 | 110 |
Cash flow
annual · ₹ crore · line = free cash flow| FY25 | FY26 | |
|---|---|---|
| Cash from operations | 303 | 287 |
| Cash from investing | -237 | -264 |
| Cash from financing | -49 | 23 |
| Capex | 101 | 122 |
| Free cash flow | 201 | 164 |
| Dividends paid | 21 | 0 |
Where the assets sit
Sep '26 · ₹ croreFixed assets (PPE)₹664 cr14%
CWIP₹162 cr3%
Investments₹112 cr2%
Inventories₹273 cr6%
Receivables₹1,878 cr39%
Cash & equivalents₹110 cr2%
Other assets₹1,670 cr34%
Peer comparison
largest in Capital Goods · this company in bold| Company | Market cap ₹cr | Price | P/E | P/B | ROE |
|---|---|---|---|---|---|
| Hindustan Aeronautics Ltd. | 3,33,052 | 4,980.00 | 35.7 | 8.12 | 22.7% |
| Bharat Electronics Ltd. | 2,89,468 | 396.00 | 45.2 | 11.02 | 24.4% |
| Tata Motors Ltd. | 1,56,797 | 425.50 | 24.8 | 10.26 | 41.3% |
| Bharat Heavy Electricals Ltd. | 1,45,828 | 418.80 | 50.7 | 5.45 | 10.8% |
| ABB India Ltd. | 1,43,541 | 6,774.00 | 55.7 | 15.37 | 27.6% |
| Siemens Ltd. | 1,26,736 | 3,560.00 | 28.2 | 8.02 | 28.4% |
| Hitachi Energy India Ltd. | 1,23,988 | 27,800.00 | 107.8 | 23.95 | 22.2% |
| CG Power and Industrial Solutions Ltd. | 1,21,786 | 773.00 | 89.1 | 13.94 | 15.6% |
| Polycab India Ltd. | 1,18,610 | 7,871.00 | 37.6 | 9.06 | 24.1% |
| Cummins India Ltd. | 1,12,233 | 4,048.80 | 49.8 | 13.52 | 27.1% |
| Waaree Renewable Technologies Limited | 7,656 | 733.35 | 24.7 | 6.85 | 27.7% |
StoxGud checklist: Bearish setup · 3/10
- Price above 50-day average
- Price above 200-day average
- 50-day average above 200-day (uptrend)
- RSI in healthy 40–70 zone
- Positive 1-year return
- Return on equity above 15%
- Debt to equity below 1
- Revenue growing year on year
- Net profit margin above 10%
- P/E below industry median
A rules-based screen of trend, momentum, quality and valuation. Educational only — not a buy or sell recommendation.
Returns & technicals
1 month-9.7%
6 months-30.3%
1 year-42.7%
3Y CAGR—
5Y CAGR—
10Y CAGR—
50-day avg₹797.48
200-day avg₹900.41
RSI (14)33
FAQs
What is the share price of Waaree Renewable Technologies Limited?
Waaree Renewable Technologies Limited (WAAREERTL) closed at ₹733.35 on NSE on 06 Nov 2026.
What is the market cap of Waaree Renewable Technologies Limited?
₹7,656 crore at the latest close.
What is the P/E ratio of Waaree Renewable Technologies Limited?
24.7, on trailing-twelve-month earnings from its filings.
How fast is Waaree Renewable Technologies Limited growing?
Waaree Renewable Technologies Limited: Latest-quarter revenue is up 36.5% year on year, profit down 36.5%.
How profitable is Waaree Renewable Technologies Limited?
On a trailing-twelve-month basis return on equity is 27.7%, return on capital employed 27.2%, operating margin 17.8%, net margin 7.9%.
How much debt does Waaree Renewable Technologies Limited have?
Waaree Renewable Technologies Limited is moderately geared: debt to equity is 1.26 with borrowings of ₹1,413 cr against cash of ₹110 cr (balance sheet of 2026-09-30). Operating profit covers interest 13.1 times.
Financials parsed from Waaree Renewable Technologies Limited's own XBRL filings to NSE (consolidated), ₹ crore unless marked. Quarterly from MAR '25, annual from FY25, balance sheet from Mar '25. * = derived (full year or half year minus earlier quarters). Information only, not investment advice.
Waaree Renewable Technologies Limited · advanced chart