539337
Waaree Tech. financials
- Market cap
- ₹221 Cr
- Sector
- Power
What Waaree Tech. does
Waaree Technologies Limited manufactures batteries serving both industrial and consumer customers, with a particular focus on energy storage systems (ESS) and electric vehicle (EV) batteries. The company classifies its core business as Energy Storage Systems. It has been diversifying its product mix and entering new segments such as lithium-ion batteries and battery energy storage systems (BESS), while working to streamline operations and improve utilisation at its manufacturing facility.
Segments
- Industrial batteries
- Consumer batteries
- Manufacturing facility
- 1 (capacity underutilised in FY25)
- Customer segments served
- Industrial and consumer
- Product diversification
- Expanding into lithium-ion batteries and BESS (FY25)
- Core industry classification
- Energy Storage Systems
Quarterly results
Q4 FY26: revenue down 79.9%, net profit up 55.4% against the same quarter last year.
| Line item | Q2 FY23 | Q4 FY23 | Q2 FY24 | Q4 FY24 | Q2 FY25 | Q4 FY25 | Q2 FY26 | Q4 FY26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 8 | 22 | 14 | 15 | 6 −25% | 5 −79% | 4 −70% | 3 −80% |
| EBITDA | 0 | -1 | -2 | -6 | -2 −8067% | -3 −178% | -1 +32% | -2 +61% |
| Net profit | 0 | -1 | -2 | -6 | -3 −1847% | -3 −144% | -2 +14% | -2 +55% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance −32.7% 1Y
1Y: ₹304.85 on 10 Sept 2025 → ₹205.1. High ₹379.05 (23 Apr 2026), low ₹139 (16 Mar 2026).
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹4 Cr | ₹11 Cr | ₹11 Cr | ₹11 Cr | ₹11 Cr | ₹11 Cr |
| Reserves | ₹-0 Cr | ₹2 Cr | ₹0 Cr | ₹-7 Cr | ₹-14 Cr | ₹-17 Cr |
| Borrowings | ₹0 Cr | ₹0 Cr | ₹3 Cr | ₹18 Cr | ₹20 Cr | ₹21 Cr |
| Other liabilities | ₹0 Cr | ₹0 Cr | ₹19 Cr | ₹3 Cr | ₹3 Cr | ₹3 Cr |
| Total liabilities | ₹4 Cr | ₹12 Cr | ₹33 Cr | ₹25 Cr | ₹19 Cr | ₹18 Cr |
| Fixed assets | ₹0 Cr | ₹0 Cr | ₹7 Cr | ₹6 Cr | ₹3 Cr | ₹2 Cr |
| Capital work in progress | ₹0 Cr | ₹0 Cr | ₹1 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Investments | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Other assets | ₹4 Cr | ₹12 Cr | ₹25 Cr | ₹19 Cr | ₹16 Cr | ₹15 Cr |
| Total assets | ₹4 Cr | ₹12 Cr | ₹33 Cr | ₹25 Cr | ₹19 Cr | ₹18 Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Mar 2026
The ownership split has held steady since Mar 2025. The shareholder count grew 9% to 5,667.
- Promoters
- 58.8%
- Public
- 41.2%
Since Mar 2025
- Promoters 0.00 pp
- FIIs 0.00 pp
- Public 0.00 pp
How it drifted, 12 quarters
Over this window promoters fell from 60.7% to 58.8% — −1.9 pp.
Ownership split by quarter, oldest first. Sep '21: Promoters 60.7%, Public 39.3%.Dec '21: Promoters 60.7%, Public 39.3%.Mar '22: Promoters 60.7%, Public 39.3%.Jun '22: Promoters 60.7%, Public 39.3%.Sep '22: Promoters 55.8%, Public 44.2%.Mar '23: Promoters 60.4%, Public 39.6%.Sep '23: Promoters 60.1%, Public 39.9%.Mar '24: Promoters 59.1%, Public 40.9%.Sep '24: Promoters 58.8%, FIIs 0.0%, Public 41.2%.Mar '25: Promoters 58.8%, Public 41.2%.Sep '25: Promoters 58.8%, Public 41.2%.Mar '26: Promoters 58.8%, Public 41.2%.
Who is on the register
Named in the Mar 2026 filing
Every holder of Waaree Tech. above SEBI's 1% disclosure line, and what changed since Sep 2025.
| Holder | Stake | Change |
|---|---|---|
| Kirit Chimanlal Doshi | 13.78% | unchanged |
| Viren C Doshi | 12.34% | unchanged |
| Pankaj Chimanlal Doshi | 9.51% | unchanged |
| Chodvadiya Jignesh Vinubhai | 5.14% | −0.10 pp |
| Sandeep Kapadia | 3.19% | unchanged |
| Ankit Hitesh Doshi | 3.02% | unchanged |
| Waaree Ess Private Ltd | 3.02% | unchanged |
| Binita Hitesh Doshi | 2.98% | unchanged |
| Pujan P Doshi | 2.83% | unchanged |
| Nipa Viren Doshi | 2.83% | unchanged |
| Bindiya Kirit Doshi | 2.83% | unchanged |
| Rushabh Pankaj Doshi | 2.83% | unchanged |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
Learn to analyse Waaree Tech.
Guides on how to read this kind of business and the numbers that matter.