Waaree Renewable Technologies share price today

Waaree Renewable Technologies Ltd's share price was ₹732.10 at the close on 4 November 2026. It has been falling for 13 weeks. That is 19.5% below its average price over the last 200 trading days. In the last 52 weeks it traded between ₹679 and ₹1,182, and at that close it sat 11% of the way up from that low.

A share price tends to move through four phases: moving sideways (stage 1), rising (stage 2), stalling near a high (stage 3) and falling (stage 4). Today Waaree Renewable Technologies Ltd is in stage 4. The phase helps read everything below.

Over the past 13 weeks it has done worse than the NIFTY 500, and it has been behind for 16 weeks running.

Over the last 11 years the share price moved +33,637% while the NIFTY 500 moved +241%, so it is ahead of the index over that whole period. It was last ahead over 13 weeks in the week of 17 July 2026. The chart above shows the 13-week comparison for every week.

This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row.

Three changes stood out: profit fell in the September 2026 quarter, foreign funds (FIIs) raised their stake for 11 quarters in a row and revenue up on a year earlier for 12 quarters in a row (every quarter we can compare).

1. Profit fell in the September 2026 quarter

   Profit was ₹81 crore, -30.2% on a year earlier (₹116 crore), after 6 quarters of growth.

   Why: Profit fell even as revenue grew because more sales came from the transmission and distribution business, which earns less profit than solar work.

   From the earnings call on 21 Oct 2026.

2. Foreign funds (FIIs) raised their stake for 11 quarters in a row

   From 0% to 2% of the company by the September 2026 quarter.

3. Revenue up on a year earlier for 12 quarters in a row (every quarter we can compare)

   In the September 2026 quarter revenue was ₹1,058 crore, +36.5% on a year earlier.

   Why: Revenue rose because the transmission and distribution business became a bigger part of the company after it was combined into the main numbers, even though solar project work fell.

   Next results: check whether the late land handovers clear and solar project work picks up.

   From the earnings call on 21 Oct 2026.

For July to September 2026 (the quarter ended 30 September 2026), Waaree Renewable Technologies reported revenue of ₹1,058 crore, up 36.5% from ₹775 crore a year earlier, and a profit of ₹81.0 crore, down 30.2% from ₹116 crore.

Waaree Renewable Technologies results: July to September 2026 against a year earlier

The next results, for October to December 2026, are due by 14 February 2027: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter).

Waaree Renewable Technologies' management discussed these results on a call held on 21 October 2026; what it said is further down this page.

From the company's reported quarterly results (quarter ended 30 September 2026). Revenue and profit in ₹ crore.

Waaree Renewable Technologies closed at ₹732.10 on 4 November 2026, down 38.1% from ₹1,181.85 a year earlier (7 November 2025) and up 1,462.3% over five years. Its highest weekly close since March 2016 was ₹2,748.45 on 26 April 2024.

Waaree Renewable Technologies share price: then and now

Weekly closing prices. Each change is the move from that price to the 4 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes.

556 weekly closes from 17 March 2016 to 4 November 2026.

4 Nov 2026: Waaree Renewable Technologies closed at ₹732.10, up 5.4% on the week and down 9.5% on the month. 21 Oct 2026: Waaree Renewable Technologies held its results call for July to September 2026. Management guided: Consolidated operating margin above 15% sustainable on solar execution and efficiencies.

Earlier

• Results for July to September 2026: Revenue up 36.5% and profit down 30.2% on a year earlier.

Waaree Renewable Technologies has paid no dividend on the NSE since 1 April 2021, the start of the period we checked.

Not in its latest year. Waaree Renewable Technologies Ltd paid out 0% of its profit as dividends in FY26. It did pay a dividend in 4 of its last 13 reported years, so there is a history but no current dividend.

From the NSE corporate-actions record, read 5 November 2026.

On the call for July to September 2026, held on 21 October 2026, Waaree Renewable Technologies' management guided: Consolidated operating margin above 15% sustainable on solar execution and efficiencies.

“With this, WRTL is evolving from a pure solar EPC player into a broader energy transition EPC platform.”Manmohan Sharma, on the call for July to September 2026

What management guided

• T&D margin improvement in coming quarters on scale and efficiencies.
• Book conversion to revenue over next 3-4 quarters with execution rising progressively.
• Interest and depreciation run-rate to stabilize with interest reduction effort.
• Associate Power earnings to offset acquisition financing burden over time.

Management’s own plans and goals, from our notes of the call. A plan is not a result.

Source: the call transcript.

From the call for July to September 2026, 21 October 2026.

When Waaree Renewable Technologies reports October to December 2026, these are the 4 checks that show whether the story is still on course. First: Solar quarterly execution rebound on delayed developer handovers clearing - check MWp volumes recover progressively in next quarter.

Waaree Renewable Technologies is on one of our India lists: Power & green energy stocks.

Waaree Renewable Technologies Ltd earned ₹81.0 Cr of net profit in the Sep 2026 quarter, −30.2% on the same quarter a year earlier. Full-year FY26 profit was ₹479 Cr. That is 7.7% of the quarter's revenue. The same quarter a year earlier earned ₹116 Cr.

Net profit is what is left after every cost, interest and tax. Earnings per share, dividends and book value all grow from it.

For the full year, FY26 profit was ₹479 Cr (+109.2% on the year before).

Why profit moved: revenue changed +36.5% on a year earlier and the margin moved −5.0 percentage points. Sales did the work while the margin got thinner.

On average over the last four quarters, profit changed +50.2% and revenue +89.3%. Profit is growing slower than sales: rising costs are taking part of the growth.

Waaree Renewable Technologies Ltd reported ₹1,058 Cr of revenue in the Sep 2026 quarter, +36.5% on the same quarter a year earlier. That is the 12th quarter in a row with growth on the year before. The last full year, FY26, came in at ₹3,331 Cr. The last four reported quarters add to ₹3,935 Cr.

Revenue is everything the company billed its customers in the period.

A growth rate over several years is not shown, because there are too few years of figures to work one out properly.

FY26 revenue was ₹3,331 Cr, +108.4% on the year before.

Is growth speeding up? Revenue over the last 12 months grew +77.7%, against +70.3% a year over the last 8 quarters (accelerating); profit over the last 12 months grew +36.4%, against +55.4% a year (rolling over).

Waaree Renewable Technologies Ltd's operating margin was 15.0% in the Sep 2026 quarter, 5.0 percentage points lower than the same quarter a year ago. Across 13 years it has been between −15.0% and 54.0%. The latest quarter is within that range.

Operating margin is what is left from every ₹100 of sales after the costs of running the business, before interest and tax. It shows pricing power and cost control.

Why the margin moved: operating margin changed −5.3 percentage points on the year while gross margin changed −0.1 points. So the drop came mostly from costs below the gross margin, such as staff and overheads, measured against sales.

Over the last 3 years, 84% of Waaree Renewable Technologies Ltd's reported profit came in as cash from its operations, so the profit is backed by cash. In FY26 it brought in ₹287 Cr of operating cash against ₹479 Cr of profit. After ₹205 Cr of spending on assets, ₹82.0 Cr was left over as free cash.

The profit and loss account shows what was earned. The cash-flow statement shows the cash that actually came in. Comparing operating cash flow with profit is one of the best checks that a profit is real.

Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year.

Why 84% of profit came in as cash: the cash cycle got 380 days longer between FY21 and FY26, so more of each rupee of profit waits in the business before it arrives.

What to look at next: the bigger use of cash is spending on new assets, at 15.1× depreciation over three years. The next section checks what that spending is building.

Waaree Renewable Technologies Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was 19 days in FY26, up from −361 days in FY21. It spent ₹317 Cr on assets over the last 3 years. Customers take 128 days to pay, and stock sits for 20 days on average.

Working capital is the cash tied up between paying suppliers and getting paid. Debtor days: how long customers take to pay. Inventory days: how long stock sits. The cash cycle: the whole loop, in days of sales.

At FY26 sales of ₹3,331 Cr, each day of that cycle ties up about ₹9.1 Cr, so roughly ₹173 Cr is tied up in the business at any time.

FY26: customers took 128 days to pay and stock sat for 20 days, about 0.7 months of sales sitting as stock, for a full cycle of 19 days, longer than FY21's −361.

The full loop: cash goes out to suppliers and production on day 0. Stock sits for 20 days. Customers pay about 128 days after that. Suppliers are paid at 129 days. Together that makes the 19-day cycle.

Spending on assets: ₹317 Cr over the last 3 years, against ₹21.0 Cr of depreciation (the yearly wear and tear on existing assets). So it is building well beyond replacing what wears out. Work still in progress is ₹178 Cr (FY26): assets paid for that are not earning yet.

In short: the cash is going into new capacity, not getting stuck in the daily cycle. The question is whether the new capacity earns.

Waaree Renewable Technologies Ltd's P/E is 16.5×, about the lowest it has ever been. Its usual P/E (the middle reading) is 49.4×, over 8.2 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth.

P/E is the share price divided by a year's profit per share: how many rupees the market pays for each rupee of yearly profit.