About
Waaree Renewable Technologies Limited engages in the generation of power through renewable energy sources in India. The company offers ground mounted solar; capex model; resco opex; rooftop solar; floating solar; and operations and maintenance solutions. It also provides engineering, procurement, and construction (EPC) services. The company serves the individual, industrial, and commercial sectors. The company was formerly known as Sangam Renewables Limited and changed its name to Waaree Renewable Technologies Limited in July 2021. The company was incorporated in 1999 and is headquartered in Mumbai, India. Waaree Renewable Technologies Limited operates as a subsidiary of Waaree Energies Limited.
Key Metrics
as of Sep 2026Market Cap8,961 Cr
P/E17.60
Div Yield0.12 %
Book Value₹89.50
52w High₹1,358.00
52w Low₹780.00
Face Value₹2.00
Quarterly Results
Rs. Crores · hover row for definition| Metric | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 | Jun 2024 | Mar 2024 | Dec 2023 | Sep 2023 | Jun 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 811.00 | 1,102.00 | 851.00 | 775.00 | 603.00 | 477.00 | 360.00 | 524.00 | 236.00 | 273.00 | 324.00 | 150.00 | 129.00 |
| Expenses | 652.00 | 896.00 | 692.00 | 617.00 | 486.00 | 350.00 | 288.00 | 453.00 | 195.00 | 198.00 | 236.00 | 119.00 | 116.00 |
| Operating Profit | 159.00 | 207.00 | 159.00 | 158.00 | 118.00 | 126.00 | 72.00 | 72.00 | 41.00 | 75.00 | 88.00 | 31.00 | 13.00 |
| OPM % | 20.00 | 19.00 | 19.00 | 20.00 | 19.00 | 27.00 | 20.00 | 14.00 | 17.00 | 28.00 | 27.00 | 20.00 | 10.00 |
| Other Income | 7.00 | 8.00 | 7.00 | 5.00 | 5.00 | 1.00 | 4.00 | 3.00 | 3.00 | 2.00 | 1.00 | 1.00 | 1.00 |
| Depreciation | 2.00 | 2.00 | 2.00 | 2.00 | 2.00 | 2.00 | 2.00 | 2.00 | 2.00 | 2.00 | 2.00 | 2.00 | 1.00 |
| Interest | 7.00 | 3.00 | 3.00 | 4.00 | 4.00 | 4.00 | 3.00 | 4.00 | 3.00 | 4.00 | 0.00 | 2.00 | 1.00 |
| Profit before tax | 157.00 | 210.00 | 160.00 | 157.00 | 117.00 | 121.00 | 71.00 | 69.00 | 40.00 | 72.00 | 86.00 | 28.00 | 12.00 |
| Tax % | 27.00 | 25.00 | 24.00 | 26.00 | 26.00 | 23.00 | 24.00 | 23.00 | 28.00 | 29.00 | 26.00 | 25.00 | 26.00 |
| Net Profit | 114.00 | 157.00 | 122.00 | 117.00 | 87.00 | 94.00 | 54.00 | 54.00 | 28.00 | 51.00 | 64.00 | 21.00 | 9.00 |
| EPS in Rs | 10.97 | 15.08 | 11.66 | 11.22 | 8.30 | 9.01 | 5.14 | 5.14 | 2.73 | 4.93 | 6.18 | 1.98 | 0.88 |
Profit & Loss
Annual · Rs. Crores| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 3,331.00 | 1,597.00 | 876.00 | 342.00 | 154.00 | 8.00 | 2.00 | 5.00 | 1.00 | 0.00 | 0.00 | 0.00 |
| Expenses | 2,690.00 | 1,286.00 | 669.00 | 266.00 | 140.00 | 5.00 | 2.00 | 3.00 | 2.00 | 0.00 | 0.00 | 0.00 |
| Operating Profit | 641.00 | 311.00 | 207.00 | 76.00 | 13.00 | 3.00 | 0.00 | 2.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| OPM % | 19.00 | 19.00 | 24.00 | 22.00 | 9.00 | 36.00 | 1.50 | 50.00 | -16.00 | -15.00 | 27.00 | 38.00 |
| Other Income | 24.00 | 11.00 | 4.00 | 5.00 | 14.00 | 4.00 | 3.00 | 1.00 | 1.00 | 0.00 | 0.00 | 0.00 |
| Interest | 13.00 | 15.00 | 7.00 | 1.00 | 1.00 | 4.00 | 3.00 | 2.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Depreciation | 8.00 | 6.00 | 6.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Profit before tax | 644.00 | 301.00 | 199.00 | 80.00 | 26.00 | 3.00 | 0.00 | 1.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Tax % | 25.00 | 24.00 | 27.00 | 26.00 | 21.00 | 12.00 | -52.00 | 65.00 | 73.00 | 0.00 | 31.00 | 25.00 |
| Net Profit | 483.00 | 229.00 | 145.00 | 59.00 | 20.00 | 2.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| EPS in Rs | 46.25 | 22.01 | 13.97 | 5.71 | 1.96 | 0.22 | -0.02 | 0.06 | 0.02 | -0.01 | 0.02 | 0.02 |
| Dividend Payout % | 0.00 | 5.00 | 7.00 | 4.00 | 5.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Balance Sheet
Annual · Rs. Crores — latest first| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 21.00 | 21.00 | 21.00 | 21.00 | 21.00 | 21.00 | 21.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 |
| Reserves | 919.00 | 436.00 | 227.00 | 91.00 | 31.00 | 12.00 | 10.00 | 1.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Borrowings | 115.00 | 27.00 | 40.00 | 0.00 | 0.00 | 37.00 | 37.00 | 36.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Other Liabilities | 1,289.00 | 637.00 | 427.00 | 143.00 | 80.00 | 13.00 | 1.00 | 1.00 | 2.00 | 0.00 | 0.00 | 0.00 |
| Total Liabilities | 2,343.00 | 1,121.00 | 715.00 | 254.00 | 132.00 | 83.00 | 68.00 | 48.00 | 12.00 | 10.00 | 10.00 | 10.00 |
| Fixed Assets | 238.00 | 195.00 | 154.00 | 9.00 | 3.00 | 3.00 | 3.00 | 4.00 | 4.00 | 0.00 | 0.00 | 0.00 |
| CWIP | 111.00 | 56.00 | 3.00 | 80.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Investments | 31.00 | 52.00 | 9.00 | 0.00 | 1.00 | 32.00 | 32.00 | 32.00 | 0.00 | 0.00 | 1.00 | 1.00 |
| Other Assets | 1,962.00 | 818.00 | 549.00 | 165.00 | 128.00 | 48.00 | 33.00 | 13.00 | 9.00 | 10.00 | 10.00 | 10.00 |
| Total Assets | 2,343.00 | 1,121.00 | 715.00 | 254.00 | 132.00 | 83.00 | 68.00 | 48.00 | 12.00 | 10.00 | 10.00 | 10.00 |
Cash Flows
Annual · Rs. Crores — latest first| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity | 291.00 | 302.00 | 128.00 | 58.00 | 34.00 | 3.00 | 3.00 | 5.00 | 0.00 | -2.00 | 0.00 | 0.00 |
| Cash from Investing Activity | -272.00 | -237.00 | -114.00 | -66.00 | 19.00 | -8.00 | 3.00 | -31.00 | -3.00 | 1.00 | 0.00 | 0.00 |
| Cash from Financing Activity | 26.00 | -49.00 | -7.00 | -2.00 | -39.00 | 5.00 | -6.00 | 27.00 | 2.00 | 1.00 | 0.00 | 0.00 |
| Net Cash Flow | 45.00 | 17.00 | 6.00 | -10.00 | 13.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Free Cash Flow | 232.00 | 201.00 | 117.00 | -28.00 | 33.00 | 3.00 | 3.00 | 4.00 | -3.00 | -2.00 | 0.00 | 0.00 |
| CFO/OP % | 66.00 | 120.00 | 74.00 | 84.00 | 277.00 | 129.00 | 11,900.00 | 195.00 | -310.00 | 4,700.00 | -69.00 | -75.00 |
Ratios
Annual · Days / % — latest first| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 128.00 | 114.00 | 155.00 | 65.00 | 107.00 | 118.00 | 4.00 | 209.00 | 115.00 | 0.00 | 0.00 | 46.00 |
| Inventory Days | 16.00 | 2.00 | 17.00 | 53.00 | 5.00 | 44.00 | — | — | — | — | — | — |
| Days Payable | 108.00 | 69.00 | 168.00 | 111.00 | 159.00 | 260.00 | — | — | — | — | — | — |
| Cash Conversion Cycle | 37.00 | 46.00 | 3.00 | 7.00 | -47.00 | -98.00 | 4.00 | 209.00 | 115.00 | 0.00 | 0.00 | 46.00 |
| Working Capital Days | 11.00 | -10.00 | 2.00 | 11.00 | 25.00 | 1,640.00 | 59.00 | 224.00 | -303.00 | 9,111.00 | 7,140.00 | 10,460.00 |
| ROCE % | 85.00 | 82.00 | 103.00 | 99.00 | 45.00 | 9.00 | 5.00 | 11.00 | 5.00 | 0.00 | 1.00 | 1.00 |
Corporate Actions
6 records| Action | Ex Date | Record Date | Ratio | Amount (₹) | Notes |
|---|---|---|---|---|---|
| Dividend | 24 Jan 2025 | 24 Jan 2025 | — | 1.00 | |
| Dividend | 09 Sep 2024 | — | — | 1.00 | |
| Split | 15 Mar 2024 | 16 Mar 2024 | 10:2 | — | |
| Dividend | 18 Sep 2023 | — | — | 1.00 | |
| Dividend | 15 Sep 2022 | — | — | 0.50 | |
| Bonus | 21 Jul 2014 | 22 Jul 2014 | 57:10 | — |
Announcements
5 filingsShareholding Pattern
Open on BSEFinancial Results — Filings
Open on BSEBoard Filings
Open on BSEAnnual Reports
Credit Ratings
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Rating update9 Jul from fitch
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Rating update5 Feb from care
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Rating update5 Feb from fitch
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Rating update21 Mar 2025 from care
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Rating update24 Oct 2024 from care
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Rating update10 May 2024 from care