Waa Solar Ltd

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Waa Solar Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents
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Waa Solar Ltd

₹ 49.5 -4.68%
11 Sep - close price
waasolar.org BSE - SME: 541445
About

Incorporated in 2009, Waa Solar Ltd is in
the business of solar power generation
and its transmission[1]

Key Points

Business Overview:[1]
WSL is a subsidiary of Madhav Power Pvt. Ltd which operates in Renewable Energy, Infrastructure and real estate sector. It does solar power generation by setting up Solar Power Project and by investing in Special Purpose Vehicle companies which are engaged in solar power generation activities. Company is planning to commence Engineering, Procurement and Construction in solar project

Website BSE
  • Market Cap ₹ 65.6 Cr.
  • Current Price ₹ 49.5
  • High / Low ₹ 78.7 / 40.9
  • Stock P/E
  • Book Value ₹ 138
  • Dividend Yield 0.00 %
  • ROCE 3.49 %
  • ROE -0.25 %
  • Face Value ₹ 10.0
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Pros

  • Stock is trading at 0.36 times its book value

Cons

  • Company has low interest coverage ratio.
  • The company has delivered a poor sales growth of 2.38% over past five years.
  • Company has a low return on equity of 0.94% over last 3 years.
  • Contingent liabilities of Rs.37.0 Cr.
  • Promoters have pledged 75.2% of their holding.

* 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

Utilities Power Power Power Generation

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Half Yearly Results

Standalone Figures in Rs. Crores / View Consolidated

Mar 2020 Sep 2020 Mar 2021 Sep 2021 Mar 2022 Sep 2022 Mar 2023 Sep 2023 Mar 2024 Sep 2024 Mar 2025 Sep 2025 Mar 2026
12.47 11.99 12.44 11.09 12.43 13.38 12.43 12.02 14.05 14.11 13.54 8.53 18.64
4.80 1.26 1.67 1.56 1.65 2.73 2.06 1.95 6.39 9.60 10.74 2.35 9.74
Operating Profit 7.67 10.73 10.77 9.53 10.78 10.65 10.37 10.07 7.66 4.51 2.80 6.18 8.90
OPM % 61.51% 89.49% 86.58% 85.93% 86.73% 79.60% 83.43% 83.78% 54.52% 31.96% 20.68% 72.45% 47.75%
10.25 0.57 0.43 0.17 0.36 0.17 0.21 0.30 0.37 0.61 1.99 1.55 1.16
Interest 4.18 4.67 3.22 2.96 2.73 2.42 2.30 1.92 2.00 2.15 2.78 4.72 6.28
Depreciation 4.29 4.51 4.51 4.48 4.48 4.38 4.41 4.39 4.40 4.41 -0.67 2.91 3.78
Profit before tax 9.45 2.12 3.47 2.26 3.93 4.02 3.87 4.06 1.63 -1.44 2.68 0.10 0.00
Tax % 18.10% 17.45% 55.33% 17.70% 21.88% 17.41% 18.09% 17.49% 34.97% 0.00% 1.12% 20.00%
7.74 1.75 1.56 1.87 3.08 3.32 3.17 3.34 1.06 -1.43 2.65 0.08 -0.54
EPS in Rs 5.82 1.32 1.17 1.41 2.32 2.50 2.39 2.52 0.80 -1.08 2.00 0.06 -0.41
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
53.66 46.02 25.63 24.37 25.07 24.69 24.16 23.27 25.54 25.79 27.65 27.17
19.75 19.33 1.52 3.25 2.28 5.87 2.66 2.96 4.52 7.94 20.34 12.09
Operating Profit 33.91 26.69 24.11 21.12 22.79 18.82 21.50 20.31 21.02 17.85 7.31 15.08
OPM % 63.19% 58.00% 94.07% 86.66% 90.91% 76.23% 88.99% 87.28% 82.30% 69.21% 26.44% 55.50%
0.60 0.88 0.44 2.31 3.65 11.24 1.00 0.53 0.38 0.55 2.60 2.71
Interest 13.44 11.79 10.84 10.58 9.50 8.58 7.89 5.69 4.72 3.92 4.93 11.00
Depreciation 9.43 9.44 13.56 9.44 9.44 9.01 9.01 8.95 8.78 8.79 3.74 6.69
Profit before tax 11.64 6.34 0.15 3.41 7.50 12.47 5.60 6.20 7.90 5.69 1.24 0.10
Tax % 0.95% 0.00% 0.00% 19.35% 29.47% 17.48% 40.89% 20.32% 17.85% 22.50% 2.42% 570.00%
11.53 6.34 0.15 2.75 5.29 10.29 3.31 4.94 6.49 4.40 1.22 -0.46
EPS in Rs 288.25 126.80 3.00 2.81 3.98 7.74 2.49 3.72 4.89 3.32 0.92 -0.35
Dividend Payout % 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Compounded Sales Growth
10 Years: -5%
5 Years: 2%
3 Years: 2%
TTM: -2%
Compounded Profit Growth
10 Years: %
5 Years: %
3 Years: %
TTM: -138%
Stock Price CAGR
10 Years: %
5 Years: 7%
3 Years: -16%
1 Year: -27%
Return on Equity
10 Years: 2%
5 Years: 2%
3 Years: 1%
Last Year: 0%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Equity Capital 0.19 0.27 0.27 4.88 6.63 6.63 6.63 13.27 13.27 13.27 13.27 13.27
Reserves 81.45 109.32 71.12 111.63 142.97 156.56 159.87 158.18 164.67 169.07 170.29 169.83
122.20 88.27 86.00 95.65 83.01 73.31 62.27 51.01 39.34 37.58 116.64 152.73
14.98 0.21 0.33 2.99 38.48 5.99 3.84 3.22 3.29 2.71 5.06 50.33
Total Liabilities 218.82 198.07 157.72 215.15 271.09 242.49 232.61 225.68 220.57 222.63 305.26 386.16
126.80 117.36 65.45 98.49 89.08 76.44 67.43 58.47 50.15 40.59 94.83 177.87
CWIP 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.27 21.40 19.90
Investments 81.45 68.79 81.45 87.75 136.73 99.43 113.77 117.62 117.65 102.79 99.94 99.66
10.57 11.92 10.82 28.91 45.28 66.62 51.41 49.59 52.77 78.98 89.09 88.73
Total Assets 218.82 198.07 157.72 215.15 271.09 242.49 232.61 225.68 220.57 222.63 305.26 386.16

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
46.92 10.28 22.37 8.63 66.46 22.17 17.65 17.50 21.55 11.80 -3.59 65.37
-50.68 12.80 -12.59 -5.89 -47.51 2.52 -22.09 -0.42 0.24 -0.25 -51.50 -85.71
-1.16 -24.12 -9.95 -2.10 5.66 -19.74 -19.49 -16.95 -16.40 -5.68 74.13 25.10
Net Cash Flow -4.92 -1.03 -0.17 0.64 24.61 4.94 -23.94 0.13 5.40 5.87 19.04 4.76
Free Cash Flow 46.88 10.28 22.37 8.63 66.44 25.80 17.65 17.50 21.09 12.41 -82.70 -22.86
CFO/OP 139% 39% 93% 44% 301% 129% 93% 92% 109% 73% -49% 437%

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Debtor Days 15.78 0.95 0.14 0.45 1.02 0.74 0.00 6.43 0.71 39.77 45.94 9.00
Inventory Days 0.00 0.00 25.03
Days Payable 3,410.84
Cash Conversion Cycle 15.78 0.95 0.14 0.45 1.02 0.74 0.00 6.43 0.71 39.77 45.94 -3,376.81
Working Capital Days -145.09 -30.93 -54.83 231.10 -412.03 282.80 444.77 440.76 367.00 766.23 362.89 -483.08
ROCE % 13.07% 9.03% 6.19% 7.57% 6.74% 4.95% 5.80% 5.27% 5.74% 4.40% 2.37% 3.49%

Insights

In beta
Jan 2012 Jul 2013 Mar 2015 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Capacity Utilization Factor (CUF) - Surendranagar Solar Plant
%

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Solar Power Revenue Share
%
Operational Solar Capacity (Standalone)
MW
PGVCL Project Awarded Capacity
MW
PGVCL Project Capacity Executed/Commissioned
MW

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

Sep 2020Mar 2021Sep 2021Mar 2022Sep 2022Mar 2023Sep 2023Mar 2024Sep 2024Mar 2025Sep 2025Mar 2026
69.85% 69.81% 69.81% 69.81% 69.81% 69.81% 69.75% 68.46% 67.85% 67.86% 67.86% 67.86%
30.15% 30.19% 30.19% 30.19% 30.19% 30.19% 30.26% 31.54% 32.15% 32.14% 32.13% 32.14%
No. of Shareholders 3343274831,0461,0871,0601,0981,4692,2782,3672,4122,307

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