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    Waaree Energies Limited

    India's largest solar PV module manufacturer, with integrated cell, EPC and O&M operations in 24+ countries.

    Capital Goods
    Industrials
    View WAAREEENER earnings calls
    ₹2,840.7
    -5.78% from avg

    Overview

    Price

    ₹2,840.7

    Market Cap

    ₹78.9k Cr

    Sector

    Capital Goods

    Industrials

    Rank

    2

    Performance

    Explore WAAREEENER

    Promise TrackerConcall Analysis

    Financials

    Income Statement

    Financial Trajectories

    11
    Quarterly

    Balance Sheet

    Balance Sheet

    ₹ Cr · Annual
    Line itemFY20FY21FY22FY23FY24FY25FY26FY26
    LiabilitiesEquity Capital197197197243263287288288
    Reserves1011482311.6k3.8k9.2k11.2k14.2k
    Borrowings1573403633205531.2k2.9k3.2k
    Other Liabilities4835961.4k5.2k6.6k9.0k10.2k12.5k
    Total Liabilities9381.3k2.2k7.4k11.3k19.7k24.6k30.1k
    AssetsFixed Assets1522856251.1k1.4k4.1k6.2k7.3k
    CWIP4031245371.3k1.9k1.9k3.5k
    Investments85115143317165254953
    Other Assets6618781.3k5.7k8.4k13.7k16.3k18.4k
    Total Assets9381.3k2.2k7.4k11.3k19.7k24.6k30.1k

    Valuation

    Assumptions

    Current — WAAREEENER
    Price
    ₹2,841
    EPS (TTM)
    ₹129.06
    PE (TTM)
    22.0
    Profit growth
    96.4%
    ₹

    The Earnings Per Share over the last 12 months.

    %

    Your assumption of the company's expected yearly EPS growth (e.g., 6 for 6%).

    Pre-filled with the lower of median (34.3×) and current (22.0×) PE — the conservative anchor.

    %

    The annualized return you aim to achieve. We solve for the price that delivers it, then compare to today's price.

    Valuation

    Current price
    ₹2,841
    vs
    Fair value · 15% return
    ₹49,991
    1660%Undervalued

    At 96.4% growth and a 22× exit, ₹2841 only delivers your return if you pay ₹49,991. The price is currently baking in 18% growth.

    EPS grows 96.4%/yr for 5 years, then fades to 6% over 2, exits at 22×.

    YearGrowthEPS (₹)
    FY2796.4%253.47
    FY2896.4%497.82
    FY2996.4%977.72
    FY3096.4%1920.25
    FY3196.4%3771.37
    FY3251.2% ·fade5702.31
    FY336.0% ·fade6044.45

    Methodology: we discount normalized net profit as a proxy for owner earnings (an earnings-power approximation — not full free cash flow). Terminal growth is capped at 6% (≈ nominal GDP) regardless of the required return. This is an analytical tool, not investment advice.

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