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

₹ 40.2 -4.33%
22 Oct - 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 ₹ 53.3 Cr.
  • Current Price ₹ 40.2
  • High / Low ₹ 78.7 / 39.0
  • Stock P/E 116
  • Book Value ₹ 139
  • Dividend Yield 0.00 %
  • ROCE 3.24 %
  • ROE 0.25 %
  • Face Value ₹ 10.0
Edit ratios

Pros

  • Stock is trading at 0.29 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 -8.73% over past five years.
  • Company has a low return on equity of 2.57% over last 3 years.
  • Promoters have pledged 75.2% of their holding.
  • Company has high debtors of 155 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

Utilities Power Power Power Generation

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Half Yearly Results

Consolidated Figures in Rs. Crores / View Standalone

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
16.94 21.39 22.77 21.33 24.67 25.68 23.36 23.65 3.04 14.38 13.86 8.81 18.96
15.19 3.07 4.48 3.80 7.00 9.19 4.43 6.64 1.88 9.68 8.20 2.45 9.83
Operating Profit 1.75 18.32 18.29 17.53 17.67 16.49 18.93 17.01 1.16 4.70 5.66 6.36 9.13
OPM % 10.33% 85.65% 80.32% 82.18% 71.63% 64.21% 81.04% 71.92% 38.16% 32.68% 40.84% 72.19% 48.15%
19.27 0.70 0.58 0.54 0.52 0.28 0.37 0.45 0.22 0.61 1.99 1.55 1.16
Interest 6.01 8.31 6.67 6.11 5.71 5.12 4.93 4.28 -0.27 2.24 2.86 4.81 6.31
Depreciation 5.85 8.24 8.15 8.06 8.07 7.96 7.99 7.98 1.00 4.50 -0.58 3.00 3.87
Profit before tax 9.16 2.47 4.05 3.90 4.41 3.69 6.38 5.20 0.65 -1.43 5.37 0.10 0.11
Tax % 17.58% 18.22% 51.11% 17.18% 30.61% 19.51% 15.99% 16.15% 72.31% 0.00% 0.74% 20.00% 509.09%
8.59 2.10 2.20 4.21 3.53 3.60 6.81 5.04 1.59 -0.29 7.26 1.82 -1.17
EPS in Rs 6.45 1.49 1.56 2.84 2.63 2.87 4.57 3.54 1.46 -0.22 5.47 1.37 -0.88
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
65.97 63.59 51.67 50.78 79.34 47.88 43.84 45.72 48.74 26.40 28.25 27.77
20.34 21.81 7.95 9.07 18.82 18.83 7.21 10.51 13.30 8.11 17.81 12.28
Operating Profit 45.63 41.78 43.72 41.71 60.52 29.05 36.63 35.21 35.44 18.29 10.44 15.49
OPM % 69.17% 65.70% 84.61% 82.14% 76.28% 60.67% 83.55% 77.01% 72.71% 69.28% 36.96% 55.78%
0.60 1.06 0.73 2.63 5.79 21.33 1.25 1.06 0.65 0.55 2.51 2.71
Interest 19.90 20.68 21.38 21.43 26.43 18.31 14.97 11.82 10.06 4.01 5.09 11.12
Depreciation 14.85 15.96 24.08 18.04 33.02 19.56 16.39 16.13 15.96 8.98 3.92 6.88
Profit before tax 11.48 6.20 -1.01 4.87 6.86 12.51 6.52 8.32 10.07 5.85 3.94 0.20
Tax % 1.13% 1.13% 19.80% 19.51% 46.65% 18.94% 38.65% 24.28% 17.58% 22.39% 1.02% 290.00%
11.35 6.12 -1.21 3.92 3.79 11.25 4.30 7.73 10.38 6.63 6.97 0.65
EPS in Rs 15.76 6.70 -1.48 3.79 3.14 8.36 3.05 5.47 7.42 5.00 5.25 0.49
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: -9%
3 Years: -17%
TTM: -2%
Compounded Profit Growth
10 Years: -23%
5 Years: -35%
3 Years: -64%
TTM: -93%
Stock Price CAGR
10 Years: %
5 Years: 0%
3 Years: -20%
1 Year: -37%
Return on Equity
10 Years: 3%
5 Years: 3%
3 Years: 3%
Last Year: 0%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

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 81.27 108.75 63.74 112.62 142.25 154.93 158.20 158.83 166.94 168.89 173.78 171.36
329.43 179.08 173.06 187.70 234.89 149.23 134.89 114.92 93.50 50.82 142.25 178.12
35.92 10.07 12.40 14.88 76.73 30.88 22.13 23.27 24.79 1.60 3.98 49.25
Total Liabilities 446.81 298.17 249.47 320.08 460.50 341.67 321.85 310.29 298.50 234.58 333.28 412.00
396.31 257.45 190.93 225.81 204.14 104.21 138.22 122.09 106.60 44.40 98.45 181.30
CWIP 0.00 0.00 3.53 0.51 71.14 45.88 0.00 0.00 0.00 0.27 21.40 19.90
Investments 0.70 25.81 36.45 42.75 80.99 76.72 82.15 87.43 87.82 97.22 97.02 96.68
49.80 14.91 18.56 51.01 104.23 114.86 101.48 100.77 104.08 92.69 116.41 114.12
Total Assets 446.81 298.17 249.47 320.08 460.50 341.67 321.85 310.29 298.50 234.58 333.28 412.00

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
47.36 52.30 42.40 40.35 106.26 24.57 33.96 31.00 36.86 14.97 -4.55 67.45
-194.44 98.12 -18.16 -33.98 -132.52 75.69 -18.28 1.41 -1.29 51.44 -62.95 -87.34
124.44 -150.75 -24.20 -5.58 62.55 -105.83 -38.52 -31.15 -30.92 -66.94 86.34 24.75
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 4.86
Free Cash Flow -149.87 175.20 37.62 40.35 24.27 38.19 34.91 31.00 36.40 15.58 -83.66 -20.78
CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit 104% 125% 97% 99% 181% 93% 100% 94% 108% 91% -43% 439%

Ratios

Consolidated / View Standalone

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 12.84 11.94 14.27 45.00 14.54 81.57 90.00 105.86 90.91 207.66 215.38 155.23
Inventory Days 576.08 0.00
Days Payable 369.40
Cash Conversion Cycle 12.84 11.94 14.27 45.00 14.54 81.57 90.00 105.86 90.91 414.35 215.38 155.23
Working Capital Days 121.67 52.52 -92.61 160.36 -22.27 408.53 521.19 479.88 433.82 923.56 696.67 5.65
ROCE % 9.14% 7.43% 7.51% 9.40% 8.55% 5.70% 6.59% 6.46% 6.73% 3.76% 3.26% 3.24%

Insights

In beta
Jul 2013 Mar 2015 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Capacity Utilization Factor (CUF) - Surendranagar Solar Plant
% ・Standalone data

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Solar Power Revenue Share
% ・Standalone data
Operational Solar Capacity (Standalone)
MW ・Standalone data
PGVCL Project Capacity Executed/Commissioned
MW ・Standalone data
PGVCL Project Awarded Capacity
MW ・Standalone data
MP PM-KUSUM Project Awarded Capacity
MW ・Standalone data

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

Mar 2021Sep 2021Mar 2022Sep 2022Mar 2023Sep 2023Mar 2024Sep 2024Mar 2025Sep 2025Mar 2026Sep 2026
69.81% 69.81% 69.81% 69.81% 69.81% 69.75% 68.46% 67.85% 67.86% 67.86% 67.86% 67.86%
30.19% 30.19% 30.19% 30.19% 30.19% 30.26% 31.54% 32.15% 32.14% 32.13% 32.14% 32.14%
No. of Shareholders 3274831,0461,0871,0601,0981,4692,2782,3672,4122,3072,295

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