Waaree Renewables Technologies Ltd

Waaree Renewables Technologies Ltd

₹ 862 -2.22%
30 May - close price
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]

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]

  • Market Cap 1,793 Cr.
  • Current Price 862
  • High / Low 1,022 / 281
  • Stock P/E 32.4
  • Book Value 40.9
  • Dividend Yield 0.06 %
  • ROCE 84.1 %
  • ROE 96.2 %
  • Face Value 10.0

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 57.3%
  • Debtor days have improved from 114 to 63.8 days.

Cons

  • Stock is trading at 21.1 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.

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023
1 1 1 3 8 28 11 45 77 95 121 74 61
3 0 0 2 3 25 8 41 64 82 108 38 39
Operating Profit -2 0 1 1 5 4 3 4 12 13 13 36 22
OPM % -291% 45% 69% 29% 61% 13% 28% 10% 16% 14% 10% 48% 36%
1 1 1 1 1 0 7 0 0 1 0 0 0
Interest 0 1 1 1 2 3 2 1 1 1 1 1 2
Depreciation 0 0 0 0 1 1 1 1 1 1 1 1 1
Profit before tax -2 -0 0 0 3 -0 8 3 11 12 11 34 20
Tax % -16% -319% 1,550% 443% 119% -490% 48% 92% 37% 16% 27% 27% 37%
Net Profit -3 -1 -1 -0 -1 -2 4 0 7 10 8 25 12
EPS in Rs -1.27 -0.33 -0.27 -0.36 -0.49 -1.31 2.07 0.12 3.25 4.80 3.89 12.04 5.90
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
2 7 6 13 162 351
2 4 5 6 138 267
Operating Profit 0 3 1 7 24 84
OPM % 25% 45% 15% 54% 15% 24%
0 1 1 2 8 2
Interest 0 2 3 4 7 5
Depreciation 0 1 1 2 4 3
Profit before tax 0 1 -3 3 21 77
Tax % 79% 334% -26% 170% 58% 28%
Net Profit 0 -2 -3 -2 9 55
EPS in Rs 0.09 -1.91 -1.53 -1.14 4.27 26.63
Dividend Payout % 0% 0% 0% 0% 12% 4%
Compounded Sales Growth
10 Years: %
5 Years: 180%
3 Years: 295%
TTM: 117%
Compounded Profit Growth
10 Years: %
5 Years: 261%
3 Years: 179%
TTM: 531%
Stock Price CAGR
10 Years: 51%
5 Years: 107%
3 Years: 336%
1 Year: 165%
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
10 10 21 21 21 21
Reserves 0 -1 5 1 9 64
0 37 40 117 42 39
5 48 56 62 96 159
Total Liabilities 16 95 122 202 168 283
4 32 30 155 73 74
CWIP 4 3 41 2 1 80
Investments 0 0 0 30 1 0
8 59 50 16 93 128
Total Assets 16 95 122 202 168 283

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 % 10% 3% 8% 26% 84%

Shareholding Pattern

Numbers in percentages

Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023
72.06 72.33 72.33 74.27 74.51 74.51 74.51 74.51 74.51 74.51 74.51 74.51
0.72 0.72 0.72 0.32 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
27.21 26.95 26.95 25.40 25.49 25.49 25.49 25.49 25.49 25.48 25.49 25.48

* 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.

Click on the line-items to see the names of individual entities.

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