Shares of Waaree Energies declined by 2.05% to Rs 3,152.50 in early trade Thursday. At 9:18 am, the stock is trading lower compared to its previous close, with investor sentiment turning bearish, according to a Moneycontrol analysis.
Financial Performance:
The following table summarizes the consolidated quarterly financial performance of Waaree Energies:
| Heading | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 |
|---|---|---|---|---|---|
| Revenue | Rs 3,408.90 Crore | Rs 3,574.38 Crore | Rs 3,457.29 Crore | Rs 4,003.93 Crore | Rs 4,425.83 Crore |
| Net Profit | Rs 401.13 Crore | Rs 375.66 Crore | Rs 506.88 Crore | Rs 644.47 Crore | Rs 772.89 Crore |
| EPS | 14.98 | 13.75 | 18.41 | 21.59 | 25.94 |
Revenue for the quarter-ending June 2025 increased to Rs 4,425.83 Crore compared to Rs 3,408.90 Crore in June 2024. Net profit also increased to Rs 772.89 Crore for the quarter-ending June 2025, up from Rs 401.13 Crore in June 2024.
The table below shows the consolidated yearly financial performance.
| Heading | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Revenue | Rs 2,854.27 Crore | Rs 6,750.87 Crore | Rs 11,397.61 Crore | Rs 14,444.50 Crore |
| Net Profit | Rs 79.65 Crore | Rs 500.28 Crore | Rs 1,274.38 Crore | Rs 1,928.13 Crore |
| EPS | 3.84 | 21.82 | 48.05 | 68.24 |
| BVPS | 21.69 | 75.54 | 155.45 | 329.96 |
| ROE | 17.68 | 26.25 | 30.26 | 19.69 |
| Debt to Equity | 0.73 | 0.15 | 0.08 | 0.10 |
The company's revenue for the year-ending 2025 stood at Rs 14,444.50 Crore, a significant increase from Rs 2,854.27 Crore in 2022. Net profit for the year-ending 2025 was Rs 1,928.13 Crore compared to Rs 79.65 Crore in 2022.
The below table shows the standalone yearly income statement:
| Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | |
|---|---|---|---|---|
| Sales | Rs 12,764 Crore | Rs 10,717 Crore | Rs 6,532 Crore | Rs 2,771 Crore |
| Other Income | Rs 453 Crore | Rs 240 Crore | Rs 108 Crore | Rs 81 Crore |
| Total Income | Rs 13,218 Crore | Rs 10,957 Crore | Rs 6,641 Crore | Rs 2,852 Crore |
| Total Expenditure | Rs 10,690 Crore | Rs 9,266 Crore | Rs 5,947 Crore | Rs 2,722 Crore |
| EBIT | Rs 2,528 Crore | Rs 1,691 Crore | Rs 694 Crore | Rs 129 Crore |
| Interest | Rs 131 Crore | Rs 133 Crore | Rs 76 Crore | Rs 33 Crore |
| Tax | Rs 615 Crore | Rs 409 Crore | Rs 157 Crore | Rs 26 Crore |
| Net Profit | Rs 1,781 Crore | Rs 1,148 Crore | Rs 460 Crore | Rs 69 Crore |
The below table shows the standalone quarterly income statement:
| Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 | Jun 2024 | |
|---|---|---|---|---|---|
| Sales | Rs 3,369 Crore | Rs 3,322 Crore | Rs 3,082 Crore | Rs 3,169 Crore | Rs 3,190 Crore |
| Other Income | Rs 197 Crore | Rs 159 Crore | Rs 101 Crore | Rs 104 Crore | Rs 88 Crore |
| Total Income | Rs 3,567 Crore | Rs 3,482 Crore | Rs 3,184 Crore | Rs 3,273 Crore | Rs 3,278 Crore |
| Total Expenditure | Rs 2,650 Crore | Rs 2,657 Crore | Rs 2,519 Crore | Rs 2,769 Crore | Rs 2,743 Crore |
| EBIT | Rs 916 Crore | Rs 824 Crore | Rs 664 Crore | Rs 504 Crore | Rs 534 Crore |
| Interest | Rs 33 Crore | Rs 48 Crore | Rs 26 Crore | Rs 26 Crore | Rs 30 Crore |
| Tax | Rs 223 Crore | Rs 195 Crore | Rs 166 Crore | Rs 119 Crore | Rs 132 Crore |
| Net Profit | Rs 659 Crore | Rs 580 Crore | Rs 471 Crore | Rs 357 Crore | Rs 371 Crore |
The table below presents the standalone balance sheet.
| Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | |
|---|---|---|---|---|
| Share Capital | Rs 287 Crore | Rs 262 Crore | Rs 243 Crore | Rs 197 Crore |
| Reserves & Surplus | Rs 9,120 Crore | Rs 3,840 Crore | Rs 1,699 Crore | Rs 231 Crore |
| Current Liabilities | Rs 7,313 Crore | Rs 5,083 Crore | Rs 4,845 Crore | Rs 1,370 Crore |
| Other Liabilities | Rs 1,130 Crore | Rs 1,487 Crore | Rs 544 Crore | Rs 240 Crore |
| Total Liabilities | Rs 17,851 Crore | Rs 10,673 Crore | Rs 7,333 Crore | Rs 2,039 Crore |
| Fixed Assets | Rs 4,578 Crore | Rs 2,218 Crore | Rs 1,373 Crore | Rs 670 Crore |
| Current Assets | Rs 10,929 Crore | Rs 7,600 Crore | Rs 5,404 Crore | Rs 1,203 Crore |
| Other Assets | Rs 2,343 Crore | Rs 855 Crore | Rs 555 Crore | Rs 165 Crore |
| Total Assets | Rs 17,851 Crore | Rs 10,673 Crore | Rs 7,333 Crore | Rs 2,039 Crore |
| Contingent Liabilities | Rs 0 Crore | Rs 1,744 Crore | Rs 1,326 Crore | Rs 342 Crore |
The table below presents the standalone cash flow from activities.
| Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | |
|---|---|---|---|---|
| Operating Activities | Rs 2,939 Crore | Rs 2,116 Crore | Rs 1,491 Crore | Rs 571 Crore |
| Investing Activities | Rs -6,764 Crore | Rs -3,246 Crore | Rs -2,246 Crore | Rs -525 Crore |
| Financing Activities | Rs 4,076 Crore | Rs 960 Crore | Rs 871 Crore | Rs 66 Crore |
| Others | Rs -2 Crore | Rs -6 Crore | Rs 5 Crore | Rs 1 Crore |
| Net Cash Flow | Rs 249 Crore | Rs -175 Crore | Rs 122 Crore | Rs 114 Crore |
Key financial ratios for Waaree Energies are as follows:
| Ratio | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|
| Basic EPS (Rs.) | 65.09 | 44.60 | 20.80 | 3.53 |
| Diluted Eps (Rs.) | 64.82 | 44.42 | 20.56 | 3.53 |
| Book Value [Excl. Reval Reserve]/Share (Rs.) | 327.46 | 156.03 | 79.83 | 21.73 |
| Dividend/Share (Rs.) | 0.00 | 0.00 | 0.00 | 0.00 |
| Face Value | 10 | 10 | 10 | 10 |
| Gross Profit Margin (%) | 22.31 | 15.06 | 13.31 | 6.11 |
| Operating Margin (%) | 19.80 | 12.59 | 10.94 | 4.68 |
| Net Profit Margin (%) | 13.95 | 10.71 | 7.04 | 2.51 |
| Return on Networth / Equity (%) | 18.93 | 27.98 | 23.68 | 16.26 |
| ROCE (%) | 23.99 | 24.14 | 28.74 | 19.42 |
| Return On Assets (%) | 9.97 | 10.75 | 6.27 | 3.41 |
| Current Ratio (X) | 1.49 | 1.50 | 1.12 | 0.88 |
| Quick Ratio (X) | 1.18 | 0.99 | 0.56 | 0.49 |
| Debt to Equity (x) | 0.10 | 0.07 | 0.10 | 0.63 |
| Interest Coverage Ratios (X) | 21.63 | 12.12 | 11.32 | 4.98 |
| Asset Turnover Ratio (%) | 0.89 | 1.19 | 1.39 | 1.76 |
| Inventory Turnover Ratio (X) | 3.24 | 3.19 | 3.67 | 3.97 |
| 3 Yr CAGR Sales (%) | 114.62 | 10,252.60 | 7,982.57 | 5,164.30 |
| 3 Yr CAGR Net Profit (%) | 405.63 | 3,288.73 | 2,045.20 | 734.69 |
| P/E (x) | 36.94 | 0.00 | 0.00 | 0.00 |
| P/B (x) | 7.35 | 0.00 | 0.00 | 0.00 |
| EV/EBITDA (x) | 22.12 | 0.00 | 0.00 | 0.00 |
| P/S (x) | 5.41 | 0.00 | 0.00 | 0.00 |
Shares of Waaree Energies are currently trading lower compared to its previous close, with investor sentiment turning bearish.
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