Waaree Technologies share price & results
- Mar 2026
- Sept 2026
Mumbai-based manufacturer of batteries for industrial and consumer use, focused on energy storage systems and EV batteries, diversifying into lithium-ion and BESS.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 3.0 | −34.7% YoY | Quarterly, as filed | Quarter to Mar 2026 | Revenue from operations as filed. |
| Operating margin | -81.2 | −14.6 pts YoY | Operating profit / revenue | Quarter to Mar 2026 | For the quarter; a change is in percentage points. |
| Net profit | -2.5 | Quarterly, as filed | Quarter to Mar 2026 | Profit after tax as filed. The year-earlier figure was zero or a loss, so no percentage is shown. | |
| Return on equity | +77.9 pts | Trailing twelve months | TTM · period unavailable | Not in the analysed materials. No older figure is substituted. | |
| Free cash flow margin | -37.59 | −17.0 pts | Fiscal year | FY ending Mar 2026 | (Operating cash flow − fixed-asset purchases + disposals) ÷ revenue. |
| Revenue growth (YoY) | +33.8 pts | Trailing twelve months | TTM · period unavailable | Not in the analysed materials. No older figure is substituted. |
Price
Performance −35.6% 1Y
1Y: ₹279.5 on 24 Oct 2025 → ₹180. High ₹379.05 (23 Apr 2026), low ₹139 (16 Mar 2026).
- Previous close
- ₹170.8
- Market cap
- ₹271 Cr
- 52-week range
- ₹139 – ₹379.05
- One year
- −35.78%
- Return on equity (FY ending Mar 2026)
- 68.64%
Overview
- Symbol
- NSE:WAAREE
- Sector
- Power
- Industry
- Utilities
- Exchange
- NSE
- Currency
- INR
What WAAREE TECHNOLOGIES LIMITED does
Based on the company's own presentations, annual report and earnings calls.
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
Fundamentals
Ratios, each with its period
Current values with the period they cover; the trend reads across the 6 fiscal years held (Mar 2021 to Mar 2026).
Financials
What the filings say
Net profit, year on year: +19% (quarter to mar 2026 against mar 2025).
| Line item | Sept 2022 | Mar 2023 | Sept 2023 | Mar 2024 | Sept 2024 | Mar 2025 | Sept 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 8 | 22 | 14 | 15 | 6 | 5 | 4 | 3 |
| Expenses | 7 | 23 | 15 | 21 | 8 | 8 | 5 | 5 |
| Operating profit | 0 | -1 | -2 | -6 | -2 | -3 | -1 | -2 |
| Operating margin | 0.4% | −5.1% | −11.8% | −41.6% | −42.7% | −66.6% | −26.5% | −81.2% |
| Other income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 0 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Profit before tax | 0 | -2 | -3 | -7 | -3 | -4 | -2 | -3 |
| Tax rate | 17.6% | −24.9% | −25.1% | −23.8% | −24.3% | −25.7% | −24.3% | −25.2% |
| Net profit | 0 | -1 | -2 | -6 | -3 | -3 | -2 | -2 |
| EPS (₹ per share) | 0.14 | -1.15 | -1.85 | -5.12 | -2.43 | -2.81 | -1.60 | -2.28 |
| Line item | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sept 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Equity capital | 11 | 11 | 11 | 11 | 11 | 11 |
| Reserves | 2 | 0 | -7 | -13 | -14 | -17 |
| Borrowings | 0 | 3 | 18 | 18 | 20 | 21 |
| Other liabilities | 0 | 19 | 3 | 4 | 3 | 3 |
| Total liabilities | 12 | 33 | 25 | 20 | 19 | 18 |
| Fixed assets | 0 | 7 | 6 | 4 | 3 | 2 |
| Capital work in progress | 0 | 1 | 0 | 0 | 0 | 0 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 |
| Other assets | 12 | 25 | 19 | 15 | 16 | 15 |
| Total assets | 12 | 33 | 25 | 20 | 19 | 18 |
| Line item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Cash from operations | 3 | -10 | 9 | -15 | -2 | -2 |
| Cash from investing | -0 | 0 | -9 | 0 | -0 | -0 |
| Cash from financing | 0 | 8 | 3 | 15 | -0 | 3 |
| Net cash flow | 3 | -2 | 3 | -0 | -2 | 0 |
| Free cash flow | 3 | -10 | 0 | -15 | -2 | -3 |
| Line item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Debtor days | — | 247 | 4 | 1 | 0 | 6 |
| Inventory days | — | 2 | 171 | 78 | 129 | 129 |
| Days payable | — | 3 | 30 | 11 | 36 | 54 |
| Cash conversion cycle | — | 246 | 145 | 69 | 94 | 80 |
| Working capital days | — | 301 | -26 | -120 | 27 | -164 |
| Return on capital employed | −6.1% | 3.7% | −10.6% | −53.9% | −39.9% | −32.2% |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Ownership
Who owns it
Promoters hold 58.80% as of Sept 2026; institutions added 0.00 pts since Mar 2026.
- Promoters 58.80%
- Foreign institutions 0.00%
- Public 41.19%
Who is on the register
Named in the Sep 2026 filing
Every holder of WAAREE TECHNOLOGIES LIMITED above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| 13.78% | unchanged | |
| 12.34% | unchanged | |
| 9.51% | unchanged | |
| 5.14% | unchanged | |
| 3.19% | unchanged | |
| 3.02% | unchanged | |
| 3.02% | unchanged | |
| 2.98% | unchanged | |
| 2.83% | unchanged | |
| 2.83% | unchanged | |
| 2.83% | unchanged | |
| 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.
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