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WAAREE Energies Limited (WAAREEENER) AI Stock Analysis
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WAAREE Energies Limited
(NSE:WAAREEENER)
The score is driven primarily by strong financial performance (rapid revenue and profit expansion and improved leverage), but is meaningfully held back by negative and volatile free cash flow and clear technical weakness (price below key moving averages with negative MACD and low RSI). Valuation is reasonable at ~20x earnings but does not fully offset the cash-flow and trend risks.
WAAREE Energies Limited (WAAREEENER) vs. iShares MSCI India ETF (INDA)
- Market Cap
- INR 662.75B
- Dividend Yield
- 0.17%
- Average Volume (3M)
- 50.40K
- Price to Earnings (P/E)
- 17.9
- Beta (1Y)
- 1.57
- Revenue Growth
- 75.43%
- EPS Growth
- 38.62%
- Country
- India
- Employees
- 2,110
- Sector
- General
- Sector Strength
- 55
- Industry
- Solar
WAAREE Energies Limited Business Overview & Revenue Model
Company Description
Established in 1989 and based in Mumbai, India, Waaree Energies Limited is a leading manufacturer and global exporter of solar photovoltaic (PV) modules. The company supplies these advanced solar components for a diverse range of applications, spanni...
WAAREE Energies Limited Financial Statement Overview
Summary
Strong growth and profitability scale-up (revenue rose sharply from ~19.4B in 2021 to ~265.4B in 2026; net income to ~37.1B in 2026) and improved leverage by 2025 (debt-to-equity ~0.13). The key drag is cash conversion: free cash flow turned materially negative in 2026 (~-29.1B) despite positive operating cash flow (~19.7B), increasing execution and reinvestment risk.
Income Statement
84Very PositiveBalance Sheet
78PositiveCash Flow
52Neutral| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 300.43B | 265.37B | 144.44B | 113.71B | 67.51B | 28.44B |
| Gross Profit | 73.09B | 68.67B | 39.24B | 22.69B | 11.05B | 4.35B |
| EBITDA | 65.93B | 63.22B | 27.22B | 21.20B | 9.12B | 2.00B |
| Net Income | 38.16B | 37.11B | 18.67B | 12.37B | 4.83B | 756.39M |
Balance Sheet | ||||||
| Total Assets | 0 | 301.15B | 197.47B | 113.14B | 74.20B | 22.37B |
| Cash, Cash Equivalents and Short-Term Investments | 73.89B | 73.89B | 78.13B | 38.50B | 17.11B | 4.08B |
| Total Debt | 0 | 36.92B | 11.99B | 10.92B | 9.06B | 4.21B |
| Total Liabilities | -150.11B | 151.04B | 101.52B | 71.65B | 55.58B | 17.98B |
| Stockholders Equity | 150.11B | 144.37B | 94.79B | 40.88B | 18.38B | 4.28B |
Cash Flow | ||||||
| Free Cash Flow | -20.02B | -29.12B | -1.16B | 9.63B | 6.95B | 2.04B |
| Operating Cash Flow | 5.75B | 19.69B | 31.58B | 23.05B | 15.60B | 7.01B |
| Investing Cash Flow | -23.78B | -44.96B | -68.08B | -33.40B | -20.94B | -6.75B |
| Financing Cash Flow | 18.57B | 27.74B | 40.36B | 9.09B | 6.42B | 985.19M |
WAAREE Energies Limited Technical Analysis
Price Trends
Market Momentum
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:WAAREEENER, the sentiment is Negative. The current price of 2300.00 is below the 20-day moving average (MA) of 2380.58, below the 50-day MA of 2490.42, and below the 200-day MA of 2830.21, indicating a bearish trend. The MACD of -52.98 indicates Positive momentum. The RSI at 40.19 is Neutral, neither overbought nor oversold. The STOCH value of 30.35 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:WAAREEENER.
WAAREE Energies Limited Peers Comparison
Overall Rating
IN:WEBELSOLAR71Outperform
IN:WAAREEINDO69Neutral
IN:PREMIERENE62Neutral- IN:WAAREEENER61Neutral
IN:SWSOLAR45Neutral
IN:SWELECTES44Neutral
Financial Indicators
| Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| IN:WEBELSOLAR | 71Outperform | INR 28.44B | 3.85 | ― | 0.38% | 76.28% | 54.75% |
| IN:WAAREEINDO | 69Neutral | INR 7.97B | 6.37 | ― | ― | -26.82% | -41.38% |
| IN:PREMIERENE | 62Neutral | INR 393.12B | 23.72 | ― | 0.17% | 26.70% | 58.85% |
| IN:WAAREEENER | 61Neutral | INR 661.60B | 17.95 | ― | 0.17% | 75.43% | 38.62% |
| Sector * | 55Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
| IN:SWSOLAR | 45Neutral | INR 31.82B | 15.49 | ― | ― | -9.04% | ― |
| IN:SWELECTES | 44Neutral | INR 8.85B | 20.90 | ― | 0.60% | -10.86% | 55.28% |
* General Sector Average
Performance Comparison
| Show on chart | Ticker | Company Name | Price | Change | % Change |
|---|---|---|---|---|---|
| IN:WAAREEENER | WAAREE Energies Limited | 2300.00 | -1123.96 | -32.83% | |
| IN:WAAREEINDO | Indosolar Limited | 191.45 | -388.30 | -66.98% | |
| IN:PREMIERENE | Premier Energies Limited | 866.00 | -204.86 | -19.13% | |
| IN:SWELECTES | Swelect Energy Systems Limited | 584.00 | -212.90 | -26.72% | |
| IN:SWSOLAR | Sterling And Wilson Renewable Energy Limited | 136.25 | -102.45 | -42.92% | |
| IN:WEBELSOLAR | Websol Energy System Limited | 65.51 | -60.22 | -47.90% |
WAAREE Energies Limited Corporate Events
Waaree Energies details GPCB closure order revocation for Gujarat solar cell plant
Waaree Energies disclosed that the Gujarat Pollution Control Board had issued a closure direction in January 2026 for its solar cell manufacturing facility in Degam, Navsari, after finding non-compliance with the Water Act and conditions of its envir...
Waaree Energies Releases Q2 and H1 FY27 Investor Presentation
Waaree Energies Limited has released its investor and earnings presentation for the quarter and half year ended September 30, 2026, and will discuss the results with analysts and institutional investors in an earnings call on October 28, 2026. By sha...
Waaree Energies Grants 5,800 Stock Options Under ESOP 2021
Waaree Energies Limited has granted 5,800 employee stock options under its Waaree Employee Stock Option Plan 2021 to an eligible employee, with each option convertible into one equity share of Rs. 10 each at an exercise price of Rs. 10. The options f...
Waaree Energies posts strong H1 FY27 growth and ramps up global clean energy capacity
Waaree Energies Limited operates in the solar energy sector, manufacturing photovoltaic modules and solar cells and serving both retail and utility-scale markets. The company is expanding internationally, including increasing its U.S. manufacturing c...
Waaree Energies to Consolidate India Operations and Boost U.S. Solar Capacity
Waaree Energies’ board has approved consolidating its Indian manufacturing operations by relocating plant and machinery from its Tumb and Nandigram facilities to its existing Chikhli plant in Gujarat, a move aimed at streamlining production and...
Waaree Energies to Consolidate Indian Operations and Boost U.S. Solar Capacity
Waaree Energies’ board has approved consolidating its Indian manufacturing by relocating plant and machinery from its Tumb and Nandigram units to the existing Chikhli facility in Gujarat, aiming to streamline operations and improve efficiencies...
Waaree Energies to Consolidate India Plants and Boost U.S. Solar Capacity
Waaree Energies Limited has approved a consolidation of its Indian manufacturing operations, relocating plant and machinery from its Tumb and Nandigram facilities to its existing Chikhli, Gujarat site, in a move aimed at streamlining production capac...
Waaree Energies Schedules Investor and Analyst Meets in August 2026
Waaree Energies Limited has scheduled interactions with analysts and institutional investors as part of Citi’s 2026 India Industrials Access Day, to be held virtually on August 11 and 13, and the EMKAY Confluence – Investor Conference 202...
Waaree Energies Plans Investor Meets at August 2026 Conferences
Waaree Energies Limited has scheduled interactions with analysts and institutional investors in mid-August 2026, including participation in Citi’s 2026 India Industrials Access Day and the EMKAY Confluence – Investor Conference 2026 in Mu...
Waaree Energies Files Monitoring Report on Rs 3,600 Crore IPO Proceeds
Waaree Energies Limited has submitted to the stock exchanges a Monitoring Agency Report for the quarter ended June 30, 2026, covering the utilisation of proceeds from its public issue of equity shares.Prepared by CARE Ratings Limited under SEBI regul...
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.
Date of analysis: Aug 06, 2026