Waa Solar Ltd

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

Waa Solar Ltd

₹ 38.2 6.14%
24 Mar - close price
waasolar.org BSE: 541445
About

Incorporated in 2009, Waa Solar Ltd undertakes projects of solar power generation

Key Points

Business Overview:[1][2]
Company is a subsidiary of Madhav Power Private Limited and has sponsored Madhav group’s various project specific SPVs in road construction and solar power segments. It does solar power generation by setting up Solar Power Project and by investing in Special Purpose Vehicle associate and subsidiaries companies which are engaged in solar power generation activities. Company is also planning to commence the Engineering, Procurement and Construction (EPC) in solar project.

Website BSE
  • Market Cap ₹ 50.7 Cr.
  • Current Price ₹ 38.2
  • High / Low ₹ 57.0 / 35.0
  • Stock P/E 6.96
  • Book Value ₹ 130
  • Dividend Yield 0.00 %
  • ROCE 6.87 %
  • ROE 4.32 %
  • Face Value ₹ 10.0
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Pros

  • Stock is trading at 0.29 times its book value
  • Company has delivered good profit growth of 51.6% CAGR over last 5 years

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 -2.42% over past five years.
  • Company has a low return on equity of 2.71% over last 3 years.
  • Contingent liabilities of Rs.111 Cr.
  • Promoters have pledged 73.0% 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

Sector: Power Generation & Distribution Industry: Power Generation And Supply

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Half Yearly Results

Consolidated Figures in Rs. Crores / View Standalone

Mar 2019 Sep 2019 Mar 2020 Sep 2020 Mar 2021 Sep 2021 Mar 2022 Sep 2022
41.34 31.29 16.94 21.39 22.77 21.33 24.67 25.68
10.42 4.04 15.19 3.07 4.48 3.80 7.00 9.19
Operating Profit 30.92 27.25 1.75 18.32 18.29 17.53 17.67 16.49
OPM % 74.79% 87.09% 10.33% 85.65% 80.32% 82.18% 71.63% 64.21%
5.09 2.10 19.27 0.70 0.58 0.54 0.52 0.28
Interest 13.04 12.29 6.01 8.31 6.67 6.11 5.71 5.12
Depreciation 18.09 13.70 5.85 8.24 8.15 8.06 8.07 7.96
Profit before tax 4.88 3.36 9.16 2.47 4.05 3.90 4.41 3.69
Tax % 30.33% 22.32% 17.58% 18.22% 51.11% 17.18% 30.61% 19.51%
Net Profit 2.81 2.67 8.59 2.10 2.20 4.21 3.53 3.60
EPS in Rs 2.17 1.92 6.45 1.49 1.56 2.84 2.63 2.87
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 TTM
27.26 31.00 65.97 63.59 51.67 50.78 79.34 47.88 43.84 45.72 50.35
0.92 5.71 20.34 21.81 7.95 9.07 18.82 18.83 7.21 10.49 16.19
Operating Profit 26.34 25.29 45.63 41.78 43.72 41.71 60.52 29.05 36.63 35.23 34.16
OPM % 96.63% 81.58% 69.17% 65.70% 84.61% 82.14% 76.28% 60.67% 83.55% 77.06% 67.85%
0.24 2.31 0.60 1.06 0.73 2.63 5.79 21.33 1.25 1.04 0.80
Interest 9.01 12.81 19.90 20.68 21.38 21.43 26.43 18.31 14.97 11.82 10.83
Depreciation 9.28 9.41 14.85 15.96 24.08 18.04 33.02 19.56 16.39 16.13 16.03
Profit before tax 8.29 5.38 11.48 6.20 -1.01 4.87 6.86 12.51 6.52 8.32 8.10
Tax % 0.00% 0.00% 1.13% 1.13% -19.80% 19.51% 46.65% 18.94% 38.65% 24.28%
Net Profit 8.28 5.38 11.35 6.12 -1.21 3.92 3.79 11.25 4.30 7.73 7.13
EPS in Rs 207.00 134.50 283.75 120.60 -26.60 3.79 3.14 8.36 3.05 5.47 5.50
Dividend Payout % 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 Years: -2%
3 Years: -17%
TTM: 4%
Compounded Profit Growth
10 Years: %
5 Years: 52%
3 Years: 60%
TTM: 78%
Stock Price CAGR
10 Years: %
5 Years: %
3 Years: 68%
1 Year: -9%
Return on Equity
10 Years: %
5 Years: 3%
3 Years: 3%
Last Year: 4%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
0.19 0.19 0.19 0.27 0.27 4.88 6.63 6.63 6.63 13.27
Reserves 64.54 69.92 81.27 108.75 63.74 112.62 142.25 154.93 158.20 158.83
107.55 182.35 329.43 179.08 173.06 187.70 234.89 149.23 134.89 114.92
0.33 27.84 35.92 10.07 12.40 14.88 76.73 30.88 22.13 23.27
Total Liabilities 172.61 280.30 446.81 298.17 249.47 320.08 460.50 341.67 321.85 310.29
144.61 198.00 396.31 257.45 190.93 225.81 204.14 150.09 138.22 122.09
CWIP 0.02 15.93 0.00 0.00 3.53 0.51 71.14 0.00 0.00 0.00
Investments 15.62 3.20 0.70 25.81 36.45 42.75 80.99 76.72 82.15 87.43
12.36 63.17 49.80 14.91 18.56 51.01 104.23 114.86 101.48 100.77
Total Assets 172.61 280.30 446.81 298.17 249.47 320.08 460.50 341.67 321.85 310.29

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
47.36 52.30 42.40 40.35 106.26 24.57 33.96 31.00
-194.44 98.12 -18.16 -33.98 -132.52 75.69 -18.28 1.41
124.44 -150.75 -24.20 -5.58 62.55 -105.83 -38.52 -31.15
Net Cash Flow -22.64 -0.34 0.04 0.79 36.30 -5.58 -22.84 1.27

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
Debtor Days 0.00 29.44 12.84 11.94 14.27 45.00 14.54 81.57 90.00 105.86
Inventory Days
Days Payable
Cash Conversion Cycle 0.00 29.44 12.84 11.94 14.27 45.00 14.54 81.57 90.00 105.86
Working Capital Days 128.94 171.90 121.67 52.52 -30.94 187.53 -22.27 408.53 521.19 479.88
ROCE % 8.57% 9.46% 7.69% 7.76% 9.70% 9.08% 6.17% 7.05% 6.87%

Shareholding Pattern

Numbers in percentages

Jun 2018 Sep 2018 Mar 2019 Sep 2019 Mar 2020 Sep 2020 Mar 2021 Sep 2021 Mar 2022 Sep 2022
69.85 69.85 69.85 69.85 69.85 69.85 69.81 69.81 69.81 69.81
30.15 30.15 30.15 30.15 30.15 30.15 30.19 30.19 30.19 30.19

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