Waaree Renewables Technologies Ltd

Waaree Renewab. Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Waaree Renewables Technologies Ltd

₹ 2,748 -5.00%
26 Apr 2:09 p.m.
waaree.com BSE: 534618
About

Incorporated in 1999, Waaree Renewables Technologies Ltd is engaged in the business of generation of power through renewable energy sources and also provides consultancy services in this regard. [1] Waaree Energy is one of the largest vertically integrated new energy companies. It has India's largest Solar panel manufacturing capacity of 12GW at its plants in Chikhli, Surat and Umbergaon in Gujarat.

Key Points

Services
The Company has a renewable energy business with a focus on Solar PV, the primary focus being Solar Pumps, Solar Park, Captive Consumption, Floating Solar, and Rooftop Solar. It provides floating solar solutions, rooftop solar solutions and ground-mounted solar project EPC solutions. [1][2][3][4]
The company is the #1 Indian Module manufacturer

Website BSE
  • Market Cap ₹ 28,625 Cr.
  • Current Price ₹ 2,748
  • High / Low ₹ 3,038 / 157
  • Stock P/E 270
  • Book Value ₹ 10.8
  • Dividend Yield 0.01 %
  • ROCE 83.8 %
  • ROE 95.8 %
  • Face Value ₹ 2.00
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Pros

  • Company is expected to give good quarter
  • Company has delivered good profit growth of 261% CAGR over last 5 years
  • Company has a good return on equity (ROE) track record: 3 Years ROE 56.8%
  • Debtor days have improved from 114 to 63.8 days.

Cons

  • Stock is trading at 254 times its book value

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Infrastructure Developers & Operators Industry: Engineering - Turnkey Services

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
3 8 28 11 45 77 95 121 74 61 129 150 324
2 3 25 8 41 64 82 108 38 39 113 122 236
Operating Profit 1 5 4 3 4 12 13 13 36 22 16 28 88
OPM % 29% 61% 13% 28% 10% 16% 14% 10% 48% 36% 12% 19% 27%
1 1 0 7 0 0 1 0 0 0 1 1 0
Interest 1 2 3 2 1 1 1 1 1 2 1 2 0
Depreciation 0 1 1 1 1 1 1 1 1 1 1 1 2
Profit before tax 0 3 -0 8 3 11 12 11 34 20 15 25 87
Tax % 443% 119% -490% 48% 92% 37% 16% 27% 27% 37% 27% 27% 26%
-0 -1 -2 4 0 7 10 8 25 12 11 18 64
EPS in Rs -0.07 -0.10 -0.26 0.41 0.02 0.65 0.96 0.78 2.41 1.18 1.07 1.76 6.19
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
2 7 6 13 162 351 665
2 4 5 6 138 267 511
Operating Profit 0 3 1 7 24 84 154
OPM % 25% 45% 15% 54% 15% 24% 23%
0 1 1 2 8 2 2
Interest 0 2 3 4 7 5 5
Depreciation 0 1 1 2 4 3 5
Profit before tax 0 1 -3 3 21 77 146
Tax % 79% 334% -26% 170% 58% 28%
0 -2 -3 -2 9 55 106
EPS in Rs 0.02 -0.38 -0.31 -0.23 0.83 5.32 10.20
Dividend Payout % 0% 0% 0% 0% 12% 4%
Compounded Sales Growth
10 Years: %
5 Years: 180%
3 Years: 295%
TTM: 82%
Compounded Profit Growth
10 Years: %
5 Years: 261%
3 Years: 179%
TTM: 113%
Stock Price CAGR
10 Years: 102%
5 Years: 279%
3 Years: 473%
1 Year: 1516%
Return on Equity
10 Years: %
5 Years: 42%
3 Years: 57%
Last Year: 96%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 10 10 21 21 21 21 21
Reserves 0 -1 5 1 9 64 92
0 37 40 117 42 39 39
5 48 56 62 96 159 274
Total Liabilities 16 95 122 202 168 283 426
4 32 30 155 73 74 155
CWIP 4 3 41 2 1 80 0
Investments 0 0 0 30 1 0 0
8 59 50 16 93 128 270
Total Assets 16 95 122 202 168 283 426

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
0 -7 51 -2 43 65
0 -28 -38 -105 9 -66
0 35 14 81 -40 -9
Net Cash Flow 0 0 27 -26 12 -10

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 74 214 87 174 105 64
Inventory Days
Days Payable
Cash Conversion Cycle 74 214 87 174 105 64
Working Capital Days -804 -513 -860 -381 -71 -33
ROCE % 7% 2% 6% 23% 84%

Shareholding Pattern

Numbers in percentages

Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
74.51% 74.51% 74.51% 74.51% 74.51% 74.51% 74.51% 74.51% 74.51% 74.48% 74.46% 74.46%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.20%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.09% 0.01%
25.49% 25.49% 25.49% 25.49% 25.49% 25.48% 25.49% 25.48% 25.49% 25.51% 25.43% 25.33%
No. of Shareholders 2,5613,5245,6888,0218,0378,8149,97211,12014,69824,84428,98586,482

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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Documents

Announcements

Annual reports

Concalls