Waa Solar Ltd
Incorporated in 2009, Waa Solar Ltd is in
the business of solar power generation
and its transmission[1]
- Market Cap ₹ 87.7 Cr.
- Current Price ₹ 66.1
- High / Low ₹ 177 / 62.4
- Stock P/E 12.6
- Book Value ₹ 141
- Dividend Yield 0.00 %
- ROCE 3.22 %
- ROE 3.78 %
- Face Value ₹ 10.0
Pros
- Stock is trading at 0.47 times its book value
Cons
- Though the company is reporting repeated profits, it is not paying out dividend
- Company has low interest coverage ratio.
- The company has delivered a poor sales growth of -10.0% over past five years.
- Tax rate seems low
- Company has a low return on equity of 4.33% over last 3 years.
- Contingent liabilities of Rs.190 Cr.
- Promoters have pledged or encumbered 75.2% of their holding.
- Company has high debtors of 215 days.
* 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
Half Yearly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
31.00 | 65.97 | 63.59 | 51.67 | 50.78 | 79.34 | 47.88 | 43.84 | 45.72 | 48.74 | 26.40 | 28.25 | |
5.71 | 20.34 | 21.81 | 7.95 | 9.07 | 18.82 | 18.83 | 7.21 | 10.51 | 13.30 | 8.11 | 17.90 | |
Operating Profit | 25.29 | 45.63 | 41.78 | 43.72 | 41.71 | 60.52 | 29.05 | 36.63 | 35.21 | 35.44 | 18.29 | 10.35 |
OPM % | 81.58% | 69.17% | 65.70% | 84.61% | 82.14% | 76.28% | 60.67% | 83.55% | 77.01% | 72.71% | 69.28% | 36.64% |
2.31 | 0.60 | 1.06 | 0.73 | 2.63 | 5.79 | 21.33 | 1.25 | 1.06 | 0.65 | 0.55 | 2.60 | |
Interest | 12.81 | 19.90 | 20.68 | 21.38 | 21.43 | 26.43 | 18.31 | 14.97 | 11.82 | 10.06 | 4.01 | 5.09 |
Depreciation | 9.41 | 14.85 | 15.96 | 24.08 | 18.04 | 33.02 | 19.56 | 16.39 | 16.13 | 15.96 | 8.98 | 3.92 |
Profit before tax | 5.38 | 11.48 | 6.20 | -1.01 | 4.87 | 6.86 | 12.51 | 6.52 | 8.32 | 10.07 | 5.85 | 3.94 |
Tax % | 0.00% | 1.13% | 1.13% | 19.80% | 19.51% | 46.65% | 18.94% | 38.65% | 24.28% | 17.58% | 22.39% | 1.02% |
5.38 | 11.35 | 6.12 | -1.21 | 3.92 | 3.79 | 11.25 | 4.30 | 7.73 | 10.38 | 6.63 | 6.97 | |
EPS in Rs | 134.50 | 283.75 | 120.60 | -26.60 | 3.79 | 3.14 | 8.36 | 3.05 | 5.47 | 7.42 | 5.00 | 5.25 |
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: | -8% |
5 Years: | -10% |
3 Years: | -15% |
TTM: | 7% |
Compounded Profit Growth | |
---|---|
10 Years: | -5% |
5 Years: | 31% |
3 Years: | -1% |
TTM: | 5% |
Stock Price CAGR | |
---|---|
10 Years: | % |
5 Years: | 45% |
3 Years: | 19% |
1 Year: | -58% |
Return on Equity | |
---|---|
10 Years: | 3% |
5 Years: | 4% |
3 Years: | 4% |
Last Year: | 4% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 0.19 | 0.19 | 0.27 | 0.27 | 4.88 | 6.63 | 6.63 | 6.63 | 13.27 | 13.27 | 13.27 | 13.27 |
Reserves | 69.92 | 81.27 | 108.75 | 63.74 | 112.62 | 142.25 | 154.93 | 158.20 | 158.83 | 166.94 | 168.89 | 173.78 |
182.35 | 329.43 | 179.08 | 173.06 | 187.70 | 234.89 | 149.23 | 134.89 | 114.92 | 93.50 | 50.81 | 142.25 | |
27.84 | 35.92 | 10.07 | 12.40 | 14.88 | 76.73 | 30.88 | 22.13 | 23.27 | 24.79 | 1.61 | 3.98 | |
Total Liabilities | 280.30 | 446.81 | 298.17 | 249.47 | 320.08 | 460.50 | 341.67 | 321.85 | 310.29 | 298.50 | 234.58 | 333.28 |
198.00 | 396.31 | 257.45 | 190.93 | 225.81 | 204.14 | 104.21 | 138.22 | 122.09 | 106.60 | 44.40 | 98.45 | |
CWIP | 15.93 | 0.00 | 0.00 | 3.53 | 0.51 | 71.14 | 45.88 | 0.00 | 0.00 | 0.00 | 0.27 | 21.40 |
Investments | 3.20 | 0.70 | 25.81 | 36.45 | 42.75 | 80.99 | 76.72 | 82.15 | 87.43 | 87.82 | 99.31 | 97.02 |
63.17 | 49.80 | 14.91 | 18.56 | 51.01 | 104.23 | 114.86 | 101.48 | 100.77 | 104.08 | 90.60 | 116.41 | |
Total Assets | 280.30 | 446.81 | 298.17 | 249.47 | 320.08 | 460.50 | 341.67 | 321.85 | 310.29 | 298.50 | 234.58 | 333.28 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
47.36 | 52.30 | 42.40 | 40.35 | 106.26 | 24.57 | 33.96 | 31.00 | 36.86 | 16.54 | -4.55 | ||
-194.44 | 98.12 | -18.16 | -33.98 | -132.52 | 75.69 | -18.28 | 1.41 | -1.29 | 49.87 | -62.95 | ||
124.44 | -150.75 | -24.20 | -5.58 | 62.55 | -105.83 | -38.52 | -31.15 | -30.92 | -66.94 | 86.34 | ||
Net Cash Flow | -22.64 | -0.34 | 0.04 | 0.79 | 36.30 | -5.58 | -22.84 | 1.27 | 4.65 | -0.53 | 18.84 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 29.44 | 12.84 | 11.94 | 14.27 | 45.00 | 14.54 | 81.57 | 90.00 | 105.86 | 90.91 | 178.77 | 215.38 |
Inventory Days | 576.08 | 0.00 | ||||||||||
Days Payable | 369.40 | |||||||||||
Cash Conversion Cycle | 29.44 | 12.84 | 11.94 | 14.27 | 45.00 | 14.54 | 81.57 | 90.00 | 105.86 | 90.91 | 385.45 | 215.38 |
Working Capital Days | 171.90 | 121.67 | 52.52 | -92.61 | 160.36 | -22.27 | 408.53 | 521.19 | 479.88 | 433.82 | 894.66 | 696.67 |
ROCE % | 8.42% | 9.14% | 7.43% | 7.51% | 9.40% | 8.55% | 5.70% | 6.59% | 6.46% | 6.73% | 3.76% | 3.22% |
Documents
Announcements
- Announcement under Regulation 30 (LODR)-Newspaper Publication 19h
- Notice Of 16Th AGM Of The Company 19h
- Reg. 34 (1) Annual Report. 19h
-
Revised Outcome Of The Board Meeting Held Today, On August 26, 2025.
26 Aug - Board approved 16th AGM on Sep 26, 2025; book closure Sep 20–26; e-voting Sep 23–25; scrutinizer appointed.
-
Intimation Of The Dates Of Book Closure And Cut-Off For The Annual General Meeting Of The Company.
26 Aug - Board approved 16th AGM on Sept 26, 2025; book closure Sept 20-26; e-voting Sept 23-25; cut-off Sept 19; scrutinizer appointed.
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