Shares of Waaree Energies gained 2.02% to trade at Rs 3,265.00 in early trade on Tuesday. The stock is among the top gainers on the Nifty Midcap 150 index.
On August 30, 2025, Waaree Energies announced the publication of the notice for the 35th Annual General Meeting.
Financial Highlights:
Consolidated Financial Performance:
The following table presents the consolidated financial performance of Waaree Energies:
| Particulars | 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 | Rs 3.84 | Rs 21.82 | Rs 48.05 | Rs 68.24 |
| BVPS | Rs 21.69 | Rs 75.54 | Rs 155.45 | Rs 329.96 |
| ROE | 17.68 | 26.25 | 30.26 | 19.69 |
| Debt to Equity | 0.73 | 0.15 | 0.08 | 0.10 |
The revenue for Waaree Energies has increased significantly from Rs 2,854.27 Crore in 2022 to Rs 14,444.50 Crore in 2025. Similarly, the net profit has risen from Rs 79.65 Crore in 2022 to Rs 1,928.13 Crore in 2025.
Quarterly Consolidated Financials:
| Particulars | 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 following table presents the standalone annual financial performance of Waaree Energies:
| Particulars | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|
| Sales | Rs 2,771 Crore | Rs 6,532 Crore | Rs 10,717 Crore | Rs 12,764 Crore |
| Other Income | Rs 81 Crore | Rs 108 Crore | Rs 240 Crore | Rs 453 Crore |
| Total Income | Rs 2,852 Crore | Rs 6,641 Crore | Rs 10,957 Crore | Rs 13,218 Crore |
| Total Expenditure | Rs 2,722 Crore | Rs 5,947 Crore | Rs 9,266 Crore | Rs 10,690 Crore |
| EBIT | Rs 129 Crore | Rs 694 Crore | Rs 1,691 Crore | Rs 2,528 Crore |
| Interest | Rs 33 Crore | Rs 76 Crore | Rs 133 Crore | Rs 131 Crore |
| Tax | Rs 26 Crore | Rs 157 Crore | Rs 409 Crore | Rs 615 Crore |
| Net Profit | Rs 69 Crore | Rs 460 Crore | Rs 1,148 Crore | Rs 1,781 Crore |
| Particulars | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 |
|---|---|---|---|---|---|
| Sales | Rs 3,190 Crore | Rs 3,169 Crore | Rs 3,082 Crore | Rs 3,322 Crore | Rs 3,369 Crore |
| Other Income | Rs 88 Crore | Rs 104 Crore | Rs 101 Crore | Rs 159 Crore | Rs 197 Crore |
| Total Income | Rs 3,278 Crore | Rs 3,273 Crore | Rs 3,184 Crore | Rs 3,482 Crore | Rs 3,567 Crore |
| Total Expenditure | Rs 2,743 Crore | Rs 2,769 Crore | Rs 2,519 Crore | Rs 2,657 Crore | Rs 2,650 Crore |
| EBIT | Rs 534 Crore | Rs 504 Crore | Rs 664 Crore | Rs 824 Crore | Rs 916 Crore |
| Interest | Rs 30 Crore | Rs 26 Crore | Rs 26 Crore | Rs 48 Crore | Rs 33 Crore |
| Tax | Rs 132 Crore | Rs 119 Crore | Rs 166 Crore | Rs 195 Crore | Rs 223 Crore |
| Net Profit | Rs 371 Crore | Rs 357 Crore | Rs 471 Crore | Rs 580 Crore | Rs 659 Crore |
| Particulars | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|
| Operating Activities | Rs 571 Crore | Rs 1,491 Crore | Rs 2,116 Crore | Rs 2,939 Crore |
| Investing Activities | Rs -525 Crore | Rs -2,246 Crore | Rs -3,246 Crore | Rs -6,764 Crore |
| Financing Activities | Rs 66 Crore | Rs 871 Crore | Rs 960 Crore | Rs 4,076 Crore |
| Others | Rs 1 Crore | Rs 5 Crore | Rs -6 Crore | Rs -2 Crore |
| Net Cash Flow | Rs 114 Crore | Rs 122 Crore | Rs -175 Crore | Rs 249 Crore |
| Particulars | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|
| Share Capital | Rs 197 Crore | Rs 243 Crore | Rs 262 Crore | Rs 287 Crore |
| Reserves & Surplus | Rs 231 Crore | Rs 1,699 Crore | Rs 3,840 Crore | Rs 9,120 Crore |
| Current Liabilities | Rs 1,370 Crore | Rs 4,845 Crore | Rs 5,083 Crore | Rs 7,313 Crore |
| Other Liabilities | Rs 240 Crore | Rs 544 Crore | Rs 1,487 Crore | Rs 1,130 Crore |
| Total Liabilities | Rs 2,039 Crore | Rs 7,333 Crore | Rs 10,673 Crore | Rs 17,851 Crore |
| Fixed Assets | Rs 670 Crore | Rs 1,373 Crore | Rs 2,218 Crore | Rs 4,578 Crore |
| Current Assets | Rs 1,203 Crore | Rs 5,404 Crore | Rs 7,600 Crore | Rs 10,929 Crore |
| Other Assets | Rs 165 Crore | Rs 555 Crore | Rs 855 Crore | Rs 2,343 Crore |
| Total Assets | Rs 2,039 Crore | Rs 7,333 Crore | Rs 10,673 Crore | Rs 17,851 Crore |
| Contingent Liabilities | Rs 342 Crore | Rs 1,326 Crore | Rs 1,744 Crore | Rs 0 Crore |
| Particulars | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|
| Basic EPS (Rs.) | 3.53 | 20.80 | 44.60 | 65.09 |
| Diluted EPS (Rs.) | 3.53 | 20.56 | 44.42 | 64.82 |
| Book Value /Share (Rs.) | 21.73 | 79.83 | 156.03 | 327.46 |
| Dividend/Share (Rs.) | 0.00 | 0.00 | 0.00 | 0.00 |
| Face Value | 10 | 10 | 10 | 10 |
| Gross Profit Margin (%) | 6.11 | 13.31 | 15.06 | 22.31 |
| Operating Margin (%) | 4.68 | 10.94 | 12.59 | 19.80 |
| Net Profit Margin (%) | 2.51 | 7.04 | 10.71 | 13.95 |
| Return on Networth / Equity (%) | 16.26 | 23.68 | 27.98 | 18.93 |
| ROCE (%) | 19.42 | 28.74 | 24.14 | 23.99 |
| Return On Assets (%) | 3.41 | 6.27 | 10.75 | 9.97 |
| Current Ratio (X) | 0.88 | 1.12 | 1.50 | 1.49 |
| Quick Ratio (X) | 0.49 | 0.56 | 0.99 | 1.18 |
| Debt to Equity (x) | 0.63 | 0.10 | 0.07 | 0.10 |
| Interest Coverage Ratios (X) | 4.98 | 11.32 | 12.12 | 21.63 |
| Asset Turnover Ratio (%) | 1.76 | 1.39 | 1.19 | 0.89 |
| Inventory Turnover Ratio (X) | 3.97 | 3.67 | 3.19 | 3.24 |
| 3 Yr CAGR Sales (%) | 5,164.30 | 7,982.57 | 10,252.60 | 114.62 |
| 3 Yr CAGR Net Profit (%) | 734.69 | 2,045.20 | 3,288.73 | 405.63 |
| P/E (x) | 0.00 | 0.00 | 0.00 | 36.94 |
| P/B (x) | 0.00 | 0.00 | 0.00 | 7.35 |
| EV/EBITDA (x) | 0.00 | 0.00 | 0.00 | 22.12 |
| P/S (x) | 0.00 | 0.00 | 0.00 | 5.41 |
Waaree Energies shares gained 2.02% in early trade on Tuesday and are trading at Rs 3,265.00.
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