Added to YB: 2026-04-28
Pitch date: 2026-04-24
WAAREEENER.NS [neutral]
Waaree Energies Limited
+0.73%
current return
Author Info
No bio for this author
Company Info
Waaree Energies Limited manufactures and exports solar photovoltaic modules for residential, commercial, industrial, and institutional projects.
Market Cap
INR 950.9B
Pitch Price
INR 3.3K
Price Target
N/A
Dividend
0.12%
EV/EBITDA
18.79
P/E
29.24
EV/Sales
4.09
Sector
Semiconductors and Semiconductor Equipment
Category
growth
Waaree Renewable Tech: From 'Just Another Solar EPC' to India’s Hidden Energy Infra Monopoly?
WAAREEENER.NS (deep dive): Solar EPC transitioning to integrated energy infra platform. FY26 rev ₹3,331cr (+109% YoY), PAT ₹479cr (+108%), 19% OPM. 2.9GW order book + 36GW pipeline. Key pivot: ₹1,225cr ASPL acquisition for transmission control. Expanding into BESS, data centers, IPP (54.8MWp). Risk: margin compression from competition, working capital stress. 22.9x P/E vs prior 100x+ peak. Market pricing EPC growth, missing infra integration upside. Execution risk understated in 2.5x revenue scale-up.
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