WAAREE Energies Limited (WAAREEENER) AI Stock Analysis

• Market Cap: ₹1.02T
• Dividend Yield: N/A
• Average Volume (3M): 192.97K
• Price to Earnings (P/E): 38.2
• Beta (1Y): 2.01
• Revenue Growth: 55.90%
• EPS Growth: 93.10%
• Country: IN
• Employees: 2,512
• Sector: Energy
• Sector Strength: 52
• Industry: Solar
• EPS (TTM): 27.20
• Shares Outstanding: 287,640,900
• 10 Day Avg. Volume: 125,759
• 30 Day Avg. Volume: 192,974
• PEG Ratio: 0.60
• Price to Book (P/B): 6.90
• Price to Sales (P/S): 4.53
• P/FCF Ratio: -564.27
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: ₹4,055.00
• Price Target Upside: 14.67% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 2

• Rating: 76 Outperform
• Price Target: ₹3,300.00 ▼(-6.68% Downside)

WAAREE Energies Limited benefits from strong financial performance, highlighted by significant revenue and profitability growth, and a robust balance sheet. Technical analysis shows positive momentum, but high volatility poses a risk. The stock's valuation, while suggesting growth potential, is relatively high, which could be a concern for value investors.

WAAREE Energies Limited Business Overview & Revenue Model

Company Description

WAAREE Energies Limited is a leading player in the renewable energy sector, primarily focusing on solar energy solutions. Established in India, the company specializes in manufacturing solar photovoltaic (PV) modules, solar inverters, and providing comprehensive solar power solutions. WAAREE serves various sectors, including residential, commercial, and utility-scale projects, contributing significantly to the adoption of clean energy in India and abroad.

How the Company Makes Money

WAAREE Energies Limited generates revenue through multiple streams, primarily from the sale of solar PV modules and related equipment. The company manufactures and sells high-quality solar panels, solar inverters, and other components, catering to both domestic and international markets. In addition to product sales, WAAREE also offers engineering, procurement, and construction (EPC) services for solar power projects, which constitute a significant revenue source. The company has established strategic partnerships with various stakeholders, including government bodies and private enterprises, to facilitate the implementation of large-scale solar projects, further enhancing its revenue potential. Additionally, WAAREE benefits from incentives and subsidies provided by the Indian government to promote renewable energy, contributing to its overall earnings.

WAAREE Energies Limited Financial Statement Overview

Summary

WAAREE Energies Limited demonstrates strong revenue growth and profitability with efficient operations. The balance sheet is solid with low leverage and substantial equity, while cash flow generation is robust albeit with recent challenges in free cash flow. The company is well-positioned in the solar industry, but should focus on optimizing capital deployment.

Income Statement

WAAREE Energies Limited has shown strong revenue growth, with a significant increase from ₹19,417.76 crore in 2021 to ₹144,445 crore in 2025. The gross profit margin improved to 27.17% in 2025, up from previous years, indicating enhanced operational efficiency. The net profit margin also increased to 12.93%, showcasing improved profitability. However, EBIT and EBITDA margins remained consistent, suggesting room for further operational enhancements.

Balance Sheet

The company's balance sheet reveals a solid equity base, with stockholders' equity rising to ₹94,792 crore in 2025. The debt-to-equity ratio is relatively low at 0.13, indicating conservative leverage and financial stability. The equity ratio stands at 48.00%, showcasing a stable financial structure. However, high cash balances suggest potential underutilization of capital.

Cash Flow

WAAREE Energies' operating cash flow has consistently grown, reaching ₹31,582 crore in 2025, indicating strong cash generation. However, free cash flow turned negative in 2025 due to substantial capital expenditures, highlighting a potential area of concern. Despite this, the operating cash flow to net income ratio indicates robust cash conversion.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	154.61B	144.44B	113.71B	67.51B	28.44B	19.42B
Gross Profit	45.21B	39.24B	22.69B	11.05B	4.35B	2.69B
EBITDA	33.83B	27.22B	21.20B	9.12B	2.00B	1.29B
Net Income	22.18B	18.67B	12.37B	4.83B	756.39M	465.94M
Balance Sheet
Total Assets	0.00	197.47B	113.14B	74.20B	22.37B	12.93B
Cash, Cash Equivalents and Short-Term Investments	78.13B	78.13B	38.50B	17.11B	4.08B	397.60M
Total Debt	0.00	11.99B	10.92B	9.06B	4.21B	4.08B
Total Liabilities	-95.95B	101.52B	71.65B	55.58B	17.98B	9.00B
Stockholders Equity	95.95B	94.79B	40.88B	18.38B	4.28B	3.53B
Cash Flow
Free Cash Flow	-1.75B	-1.16B	9.63B	6.95B	2.04B	-1.26B
Operating Cash Flow	10.35B	31.58B	23.05B	15.60B	7.01B	716.68M
Investing Cash Flow	-11.88B	-68.08B	-33.40B	-20.94B	-6.75B	-2.50B
Financing Cash Flow	4.49B	40.36B	9.09B	6.42B	985.19M	1.57B

WAAREE Energies Limited Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 3536.15
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:WAAREEENER, the sentiment is Positive. The current price of 3536.15 is above the 20-day moving average (MA) of 3417.76, above the 50-day MA of 3324.52, and above the 200-day MA of 2806.74, indicating a bullish trend. The MACD of 45.46 indicates Negative momentum. The RSI at 57.26 is Neutral, neither overbought nor oversold. The STOCH value of 76.47 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:WAAREEENER.

WAAREE Energies Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
WAAREEENER	76 Outperform	₹1.02T	38.19	―	―	55.90%	93.10%
Sector *	65 Neutral	$15.17B	7.61	4.09%	5.20%	3.87%	-62.32%
WEBELSOLAR	62 Neutral	₹52.54B	26.01	―	―	397.23%	―
ZODIAC	61 Neutral	₹5.65B	27.74	―	0.20%	59.55%	58.31%
INOXGREEN	59 Neutral	₹95.77B	246.80	―	―	14.36%	3.96%
BORORENEW	54 Neutral	₹87.25B	―	―	―	4.94%	-328.07%
SWSOLAR	45 Neutral	₹56.76B	51.96	―	―	112.24%	-474.43%