Shares of Waaree Energies declined by 2.39% to trade at Rs 3,112.50 in Monday's early session. The stock is among the top losers on the Nifty Midcap 150 index at 9:25 am.
Financial Snapshot:
Waaree Energies has demonstrated substantial financial growth over the past few years. Here's a look at the company's consolidated financial performance:
Consolidated Quarterly Performance:
| 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 |
The company's revenue has shown a consistent increase over the quarters, with the revenue for the quarter ending June 2025 standing at Rs 4,425.83 Crore, compared to Rs 3,408.90 Crore in June 2024. Similarly, the net profit has risen from Rs 401.13 Crore in June 2024 to Rs 772.89 Crore in June 2025. Earnings per share (EPS) have also increased from 14.98 to 25.94 over the same period.
Consolidated Yearly 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 annual data reveals a substantial increase in revenue, from Rs 2,854.27 Crore in 2022 to Rs 14,444.50 Crore in 2025. Net profit also surged from Rs 79.65 Crore in 2022 to Rs 1,928.13 Crore in 2025. The EPS increased from 3.84 in 2022 to 68.24 in 2025.
Standalone Yearly Performance:
| Header | 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 standalone annual income statement shows consistent growth. Sales increased from Rs 2,771 Crore in March 2022 to Rs 12,764 Crore in March 2025. Net profit also rose significantly from Rs 69 Crore in March 2022 to Rs 1,781 Crore in March 2025.
Standalone Quarterly Performance:
| Header | 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 standalone quarterly income statement reveals sales of Rs 3,369 Crore for June 2025 compared to Rs 3,190 Crore for June 2024. The net profit increased from Rs 371 Crore in June 2024 to Rs 659 Crore in June 2025.
Balance Sheet:
| Header | 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 |
| Header | 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 |
| 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 /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 |
Key financial ratios for Waaree Energies show a P/E ratio of 36.94 and a P/B ratio of 7.35 as of March 2025. The company reported a debt-to-equity ratio of 0.10 as of the year-ending March 2025.
Corporate Announcements:
- On August 19, 2025, Waaree Energies addressed a rumour verification under Regulation 30(11) of the SEBI Listing Regulations, 2015.
- The Exchange sought clarification from Waaree Energies on August 19, 2025, regarding news in www.businesstoday.in concerning a potential collapse of the Enel Green Power deal.
- An announcement was made under Regulation 30 (LODR) regarding the Monitoring Agency Report on the utilisation of proceeds from the public issue for the quarter ended June 30, 2025.
Waaree Energies is included as one of the stocks in the Nifty Midcap 150 index.
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