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About the company
Waaree Energies Limited is an India-based renewable energy company. The Company is primarily engaged in the business of manufacturing of solar Photo-voltaic modules and solar cells, setting up of projects in solar space and the sale of electricity. The Company’s operating segments include Solar Photovoltaic Modules, Generation of Power, and Engineering, procurement and construction (EPC) contract. Its manufacturing plants are located in Tumb, Nandigram, Chikhli and Surat, Gujarat State, India. Its By Products include PV Modules, Inverter, Solar Kits, BESS and Electrolyzer Stacks. The PV Modules include HJT Module, N Type Module, Mono PERC, Flexible and Special Module. Its By Applications include Rooftop Solar, Flexible Solar, Small Modules, Special Modules, Energy Storage and Green Hydrogen. The Company’s solutions include EPC, Energy Storage and Green Hydrogen (Alkaline Electrolysers Turnkey).
- Revenue in INR (TTM)220.60bn
- Net income in INR32.69bn
- Incorporated1990
- Employees2.51k
- LocationWaaree Energies Ltd602 Western Express HighwayMUMBAI 400066IndiaIND
- Phone+91 2 266444444
- Websitehttps://www.waaree.com
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Mergers & acquisitions
| Acquired company | WAAREEENER:NSI since announced | Transaction value |
|---|---|---|
| Kotsons Pvt Ltd | -7.36% | 21.82m |
| Kamath Transformers Pvt Ltd | 1.74% | 34.27m |
Data delayed at least 15 minutes, as of Feb 18 2026 10:26 GMT.
Peer analysis
Key Information
- Key Information
- Stock Performance
- Per Share Data
- Efficiency
- Management Effectiveness
- Profitability
- Financial Strength
- Growth Rates
| Company | Revenue (TTM) | Net income (TTM) | Market cap | Employees | Price/earnings (TTM) | Price/book value (MRQ) | Price/cash flow (TTM) | Price/sales (TTM) | EPS (excl. extraordinary items, TTM) | EPS (incl. extraordinary items, TTM) | Revenue per share (TTM) | Book value per share (MRQ) | Asset turnover (TTM) | Inventory turnover (TTM) | Receivables turnover (TTM) | Revenues per employee (TTM) | Return on avg assets (TTM) | Return on avg assets (5 yr avg) | Return on investment (TTM) | Return on investment (5 yr avg) | Gross margin (TTM) | Gross margin (5 yr avg) | Net profit margin (TTM) | Net Profit margin (5 yr avg) | Quick ratio (MRQ) | Interest coverage (TTM) | Total debt to capital (MRQ) | Payout ratio (5 yr avg) | Revenue (YOY change %) | Revenue (5 yr growth rate) | Net income (YOY change %) | Net income (5 yr growth rate) | Capital expenditure (5 yr growth rate) | Dividend (5 yr growth rate) |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Grindwell Norton Ltd | 29.40bn | 3.89bn | 179.86bn | 2.43k | 46.23 | -- | 36.38 | 6.12 | 35.14 | 35.14 | 265.62 | -- | -- | -- | -- | 12,105,760.00 | -- | 14.36 | -- | 18.43 | 54.00 | 45.11 | 13.27 | 14.11 | -- | 50.14 | -- | 47.00 | 4.65 | 12.22 | -3.89 | 15.10 | 13.63 | 17.78 |
| Craftsman Automation Ltd | 75.92bn | 3.34bn | 184.69bn | 2.89k | 51.85 | -- | 24.46 | 2.43 | 149.33 | 149.33 | 3,392.09 | -- | -- | -- | -- | 26,243,070.00 | -- | 5.75 | -- | 8.76 | 45.54 | 36.93 | 4.40 | 6.14 | -- | 2.42 | -- | 4.33 | 27.83 | 30.69 | -36.10 | 37.21 | 47.83 | -- |
| Jyoti CNC Automation Ltd | 20.70bn | 3.54bn | 191.96bn | 2.16k | 54.15 | -- | 47.92 | 9.27 | 15.59 | 15.59 | 91.02 | -- | -- | -- | -- | 9,599,485.00 | -- | -- | -- | -- | 56.00 | -- | 17.12 | -- | -- | 8.33 | -- | -- | 35.80 | -- | 109.47 | -- | -- | -- |
| Kirloskar Oil Engines Ltd | 73.38bn | 5.42bn | 207.54bn | 2.48k | 38.34 | -- | 29.94 | 2.83 | 37.24 | 37.57 | 504.15 | -- | -- | -- | -- | 29,635,180.00 | -- | 5.30 | -- | 8.38 | 42.62 | 32.29 | 7.21 | 6.57 | -- | 2.23 | -- | 21.28 | 7.64 | 13.44 | 10.70 | 22.28 | 30.04 | -- |
| Timken India Ltd | 33.01bn | 4.35bn | 237.66bn | 1.28k | 54.63 | -- | 44.65 | 7.20 | 57.84 | 57.84 | 438.84 | -- | -- | -- | -- | 25,750,890.00 | -- | 13.79 | -- | 16.75 | 38.83 | 32.24 | 13.18 | 13.63 | -- | 126.07 | -- | -- | 8.19 | 14.24 | 14.09 | 12.70 | 25.62 | -- |
| Premier Energies Ltd | 72.15bn | 13.31bn | 341.21bn | 1.61k | 26.92 | -- | 18.14 | 4.73 | 28.21 | 28.21 | 149.51 | -- | -- | -- | -- | 44,785,260.00 | -- | -- | -- | -- | 40.47 | -- | 18.44 | -- | -- | 10.51 | -- | -- | 107.35 | -- | 305.05 | -- | -- | -- |
| Thermax Limited | 103.44bn | 6.82bn | 344.05bn | 3.70k | 50.46 | -- | 39.08 | 3.33 | 60.52 | 60.52 | 917.98 | -- | -- | -- | -- | 27,925,730.00 | -- | 5.34 | -- | 10.28 | 46.97 | 42.71 | 6.59 | 5.78 | -- | 5.89 | -- | 27.55 | 11.43 | 12.63 | -1.68 | 18.24 | 79.83 | 14.87 |
| AIA Engineering Ltd | 43.11bn | 11.62bn | 368.15bn | 1.31k | 31.68 | -- | 28.93 | 8.54 | 124.53 | 124.53 | 461.91 | -- | -- | -- | -- | 33,006,440.00 | -- | 14.79 | -- | 16.43 | 54.47 | 45.00 | 26.93 | 21.66 | -- | 38.74 | -- | 8.75 | -11.67 | 7.54 | -6.59 | 12.43 | 0.7551 | -9.94 |
| Schaeffler India Ltd | 90.98bn | 10.65bn | 591.39bn | 3.61k | 55.51 | -- | 42.39 | 6.50 | 68.17 | 68.17 | 582.13 | -- | -- | -- | -- | 25,236,370.00 | -- | 13.82 | -- | 17.89 | 38.17 | 32.78 | 11.71 | 11.48 | -- | 294.52 | -- | 43.66 | 13.54 | 13.55 | 4.43 | 20.62 | 18.36 | 31.95 |
| Suzlon Energy Ltd | 149.85bn | 32.31bn | 630.05bn | 6.66k | 19.55 | -- | 17.76 | 4.20 | 2.35 | 2.35 | 10.91 | -- | -- | -- | -- | 22,492,630.00 | -- | 15.63 | -- | 52.10 | 29.14 | 26.91 | 21.56 | 16.77 | -- | 6.14 | -- | -- | 67.02 | 29.91 | 213.72 | -- | 29.83 | -- |
| Waaree Energies Ltd | 220.60bn | 32.69bn | 878.20bn | 2.51k | 26.98 | -- | 20.69 | 3.98 | 113.15 | 113.15 | 762.74 | -- | -- | -- | -- | -- | -- | 11.74 | -- | 25.04 | 39.38 | 25.09 | 15.42 | 10.24 | -- | 15.30 | -- | -- | 26.73 | 48.57 | 50.94 | 113.89 | 120.01 | -- |
Data as of Feb 18 2026. Currency figures normalised to Waaree Energies Ltd's reporting currency: Indian Rupee INR
4.28%Per cent of shares held by top holders
| Holder | Shares | % Held |
|---|---|---|
| The Vanguard Group, Inc.as of 04 Feb 2026 | 3.13m | 1.09% |
| Motilal Oswal Asset Management Co. Ltd.as of 31 Dec 2025 | 2.82m | 0.98% |
| BlackRock Fund Advisorsas of 06 Feb 2026 | 2.20m | 0.76% |
| BlackRock Advisors (UK) Ltd.as of 06 Feb 2026 | 1.10m | 0.38% |
| PineBridge Investments Asia Ltd.as of 31 Dec 2025 | 832.23k | 0.29% |
| Norges Bank Investment Managementas of 30 Jun 2025 | 667.24k | 0.23% |
| Geode Capital Management LLCas of 12 Feb 2026 | 607.83k | 0.21% |
| Franklin Advisory Services LLCas of 06 Feb 2026 | 363.14k | 0.13% |
| Kotak Mahindra Asset Management Co. Ltd.as of 31 Jan 2026 | 327.84k | 0.11% |
| Vanguard Asset Management Ltd.as of 31 Dec 2025 | 271.98k | 0.10% |
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Data from 31 Dec 2025 - 31 Jan 2026Source: FactSet Research Systems Inc.
