Regulatory
HIGHTrigger: US Commerce Department sided with domestic solar manufacturers (First Solar, Qcells) who filed an anti-dumping petition
Monitor: regulatory
Waaree Energies Ltd: Stock Analysis & Fundamentals
Updated this weekWaaree Energies Ltd (Capital Goods - Solar) — fundamental analysis, earnings data, and key metrics. PE: 22.0. ROE: 32.8%. This stock is not currently in the Nifty 500 momentum outperformers list.
Waaree Energies Ltd Key Facts
What's Happening
🌐FII stake decreased 0.7% this quarter
🏛️DII reducing — stake down 1.5%
Key Risks
1. Regulatory
HIGH2. Commodity
MEDIUM3. Geopolitical
MEDIUMKey Numbers
Current Price
₹3,009
Dividend Yield
0.07%
Market Cap
86.6K Cr
Valuation
N/AWhat Are the Key Risks for Waaree Energies Ltd?
Earnings deceleration risks from management commentary
Commodity
MEDIUMTrigger: Global silver prices have risen significantly, impacting photovoltaic cell silver paste input costs
Monitor: commodity
Geopolitical
MEDIUMTrigger: Trump administration's fossil fuel priorities create a structurally hostile regulatory environment for Asian solar exporters into the US
Monitor: geopolitical
Logistics
LOWTrigger: Not Given
Monitor: logistics
Fx
LOWTrigger: Large USD-denominated revenue base creates two-way FX exposure
Monitor: fx
What Is Waaree Energies Ltd's Management Saying?
Key quotes from recent conference calls
“the agency calculated preliminary duty rates, known as dumping margins, of 123.04% for imports from India. Final decision on or around July 13 [Risk (regulatory): HIGH]”
“silver and the other commodities... is it going to hurt your gross margin going forward? we do a back-to-back cell tying, which we have been doing for the last many years [Risk (commodity): MEDIUM]”
“US President Donald Trump continues a pro-fossil fuel agenda and has decried the energy transition as a 'green new scam' [Risk (geopolitical): MEDIUM]”
“Around 33 percent of the company's revenue for the October-December quarter came from the overseas markets [Risk (fx): LOW]”
The above analysis is parsed from publicly available earnings call transcripts. This is educational research only — not investment advice. Last updated Apr 30, 2026.
Other Top Capital Goods - Solar Stocks Beating Nifty 500
Frequently Asked Questions: Waaree Energies Ltd
Based on publicly available financial data. This is educational research, not investment advice.
What were Waaree Energies Ltd's latest quarterly results?
Waaree Energies Ltd's latest quarterly results (Mar 2026) show
- PAT Growth YoY: +74.8%
- Revenue Growth YoY: +111.8%
- Operating Margin: 19.0%
What is Waaree Energies Ltd's current PE ratio?
Waaree Energies Ltd's current PE ratio is 22.0x.
- Current PE: 22.0x
- Market Cap: 86.6K Cr
- Dividend Yield: 0.07%
What is Waaree Energies Ltd's price-to-book ratio?
Waaree Energies Ltd's price-to-book ratio is 6.0x.
- Price-to-Book (P/B): 6.0x
- Book Value per Share: ₹502
- Current Price: ₹3009
Is Waaree Energies Ltd a fundamentally strong company?
Waaree Energies Ltd's fundamental strength based on key financial ratios
- Return on Capital (ROCE): 39.0%
Is Waaree Energies Ltd debt free?
Waaree Energies Ltd has a debt-to-equity ratio of N/A.
- Total Debt: ₹3,000 Cr
What is Waaree Energies Ltd's return on equity (ROE) and ROCE?
Waaree Energies Ltd's return ratios over recent years
- FY2024: ROCE 44.0%
- FY2025: ROCE 35.0%
- FY2026: ROCE 39.0%
Is Waaree Energies Ltd's cash flow positive?
Waaree Energies Ltd's operating cash flow is positive (FY2026).
- Cash from Operations (CFO): ₹2,000 Cr
- Free Cash Flow (FCF): ₹-2,000 Cr
- CFO/PAT Ratio: 42% (weak cash conversion)
What is Waaree Energies Ltd's dividend yield?
Waaree Energies Ltd's current dividend yield is 0.07%.
- Dividend Yield: 0.07%
- Current Price: ₹3009
Who holds Waaree Energies Ltd shares — promoters, FII, DII?
Waaree Energies Ltd's shareholding pattern (Mar 2026)
- Promoters: 64.2%
- FII (Foreign): 7.1%
- DII (Domestic): 4.3%
- Public: 24.4%
Is promoter holding increasing or decreasing in Waaree Energies Ltd?
Waaree Energies Ltd's promoter holding has decreased recently.
- Current Promoter Holding: 64.2% (Mar 2026)
- Previous Quarter: 64.2% (Dec 2025)
- Change: -0.03% (decreasing — worth monitoring)
Is Waaree Energies Ltd a new momentum entry or an established outperformer?
Waaree Energies Ltd is an established outperformer with 1 weeks of consecutive Nifty 500 outperformance.
What are the key risks in Waaree Energies Ltd?
Waaree Energies Ltd has 5 key risks worth monitoring
- [HIGH] Regulatory — US Commerce Department sided with domestic solar manufacturers (First Solar, Qcells) who filed an anti-dumping petition
- [MEDIUM] Commodity — Global silver prices have risen significantly, impacting photovoltaic cell silver paste input costs
- [MEDIUM] Geopolitical — Trump administration's fossil fuel priorities create a structurally hostile regulatory environment for Asian solar exporters into the US
- [LOW] Logistics — Not Given
What did Waaree Energies Ltd's management say in the latest earnings call?
In Q4 FY26, Waaree Energies Ltd's management highlighted
- "the agency calculated preliminary duty rates, known as dumping margins, of 123.04% for imports from India. Final decision on or around July 13 [Risk ..."
- "silver and the other commodities... is it going to hurt your gross margin going forward? we do a back-to-back cell tying, which we have been doing for..."
- "US President Donald Trump continues a pro-fossil fuel agenda and has decried the energy transition as a 'green new scam' [Risk (geopolitical): MEDIUM..."
Is Waaree Energies Ltd worth studying for long term investment?
Based on quantitative research signals, here is why Waaree Energies Ltd may be worth studying
- Cash flow is positive — CFO ₹2,000 Cr
What is the investment thesis for Waaree Energies Ltd?
Waaree Energies Ltd investment thesis summary:
Risk Factors (Bear Case)
- Key risk: Regulatory
What is the future outlook for Waaree Energies Ltd?
Waaree Energies Ltd's forward outlook based on current data signals
- Key Risk: Regulatory
The above FAQs are generated from publicly available earnings data and conference call transcripts. This is educational research only. Sector Alpha is not SEBI registered and does not provide investment advice.