Waaree Renewable Technologies Complete Financial Statements
In FY2026, Waaree Renewable Technologies (WAAREERTL) reported revenue ₹1,109 Cr, net profit ₹156 Cr and EPS ₹14.95, with a net profit margin of 14.1% and ROE of 16.7%. Full financial statements from FY2018 to FY2026 (9 years) — income statement, balance sheet and cash flow in ₹ Crores. Download as Excel or CSV. Explore WAAREERTL intrinsic value to estimate fundamental worth using multiple valuation models.
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WAAREERTL Revenue, Net Profit & EBITDA — Year-on-Year Growth
WAAREERTL YoY (Mar 2025 vs Mar 2026) — revenue +130.6%, net profit +66.0%, EBITDA +67.7%, expenses +153.1%. For live price, earnings ratios and company overview, see WAAREERTL share price.
WAAREERTL Income Statement — Revenue, EBITDA & Net Profit
Waaree Renewable Technologies revenue ₹1,109 Cr, EBITDA ₹213 Cr, net profit ₹156 Cr, EPS ₹14.95 (2026) — net profit margin 14.1%. Review Waaree Renewable Technologies P/E valuation to evaluate earnings-based valuation against sector peers.
| Particulars | Mar 2026 | Sept 2025 | Mar 2025 | Jun 2025 | Dec 2025 | Sept 2024 | Mar 2024 | Jun 2024 | Dec 2024 | Sept 2023 | Mar 2023 | Jun 2023 | Dec 2023 | Sept 2022 | Mar 2022 | Jun 2022 | Dec 2022 | Sept 2021 | Mar 2021 | Jun 2021 | Dec 2021 | Sept 2020 | Mar 2020 | Jun 2020 | Dec 2020 | Sept 2019 | Jun 2019 | Dec 2019 | Dec 2018 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 1,109 | 779 | 481 | 608 | 856 | 528 | 275 | 239 | 364 | 151 | 62 | 130 | 325 | 121 | 77 | 96 | 74 | 19 | 9 | 29 | 46 | 2 | 1 | 2 | 3 | 2 | 2 | 2 | 2 |
| Expenses | 896 | 617 | 354 | 486 | 692 | 453 | 198 | 195 | 288 | 119 | 39 | 116 | 236 | 108 | 64 | 82 | 38 | 8 | 3 | 25 | 41 | 0 | 3 | 1 | 2 | 1 | 1 | 1 | 1 |
| EBITDA | 213 | 162 | 127 | 122 | 164 | 75 | 77 | 44 | 76 | 32 | 23 | 14 | 88 | 13 | 13 | 14 | 36 | 11 | 6 | 4 | 5 | 1 | -2 | 1 | 2 | 1 | 2 | 1 | 1 |
| Operating Profit Margin % | 19.00% | 20.00% | 26.00% | 19.00% | 19.00% | 14.00% | 28.00% | 17.00% | 20.00% | 20.00% | 36.00% | 10.00% | 27.00% | 10.00% | 16.00% | 14.00% | 48.00% | 28.00% | 61.00% | 13.00% | 10.00% | 69.00% | -291.00% | 44.00% | 29.00% | 48.00% | 67.00% | 39.00% | 48.00% |
| Depreciation | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 1 | 1 | 2 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest | 3 | 4 | 4 | 4 | 3 | 4 | 4 | 3 | 3 | 2 | 2 | 1 | 0 | 1 | 1 | 1 | 1 | 2 | 2 | 3 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Profit Before Tax | 208 | 157 | 121 | 117 | 158 | 69 | 72 | 39 | 71 | 28 | 20 | 12 | 86 | 11 | 11 | 12 | 34 | 8 | 3 | 0 | 3 | 0 | -2 | 0 | 0 | 0 | 0 | 0 | 0 |
| Tax | 52 | 40 | 27 | 30 | 38 | 16 | 21 | 11 | 17 | 7 | 7 | 3 | 22 | 3 | 4 | 2 | 9 | 4 | 4 | 2 | 2 | 1 | 0 | 1 | 1 | 0 | 0 | 0 | 0 |
| Net Profit | 156 | 116 | 94 | 86 | 120 | 54 | 51 | 28 | 54 | 21 | 12 | 9 | 64 | 8 | 7 | 10 | 25 | 4 | -1 | -2 | 0 | -1 | -3 | -1 | -1 | 0 | 0 | 0 | 0 |
| Earnings Per Share (₹) | 14.95 | 11.18 | 9.00 | 8.29 | 11.50 | 5.14 | 4.93 | 2.72 | 5.14 | 1.97 | 5.90 | 0.88 | 30.97 | 3.89 | 3.25 | 4.80 | 12.04 | 2.07 | -0.49 | -1.31 | 0.12 | -0.27 | -1.27 | -0.33 | -0.36 | -0.15 | -0.03 | -0.08 | -0.03 |
WAAREERTL Balance Sheet — Assets, Liabilities & Shareholders' Equity
WAAREERTL total assets ₹2,374 Cr, total equity ₹934 Cr, total liabilities ₹ Cr (2026) — ROE 16.7%.
| Particulars | 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Total Assets | 2,374 | 1,120 | 714 | 283 | 168 | 203 | 122 | 95 | 16 |
| Current Assets | 1,790 | 812 | 550 | 128 | 93 | 46 | 45 | 13 | 8 |
| Fixed Assets | 450 | 198 | 157 | 74 | 73 | 155 | 31 | 32 | 4 |
| Capital Work in Progress | 178 | 56 | 3 | 80 | 1 | 2 | 41 | 3 | 4 |
| Investments | 117 | 52 | 9 | 0 | 1 | 30 | 0 | 0 | 0 |
| Other Assets | 0 | 814 | 545 | 128 | 93 | 17 | 50 | 60 | 8 |
| LIABILITIES | |||||||||
| Total Liabilities | |||||||||
| Current Liabilities | 111 | 52 | 49 | 46 | 47 | 132 | 40 | 40 | 0 |
| Non-Current Liabilities | |||||||||
| SHAREHOLDERS' EQUITY | |||||||||
| Total Equity | 934 | 455 | 246 | 85 | 30 | 54 | 57 | 40 | 10 |
| Share Capital | 21 | 21 | 21 | 21 | 21 | 21 | 21 | 10 | 10 |
| Reserves & Surplus | 914 | 435 | 226 | 64 | 9 | 2 | 5 | -1 | 0 |
WAAREERTL Cash Flow Statement — Operating, Investing & Financing
Waaree Renewable Technologies operating cash flow ₹303 Cr, investing ₹-237 Cr, financing ₹-49 Cr, net cash flow ₹17 Cr (2025).
| Particulars | March 2025 | March 2024 | March 2023 | March 2022 | March 2021 | March 2020 | March 2019 | March 2018 |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | 303 | 128 | 65 | 43 | 2 | 51 | -7 | 0 |
| Investing Activities | -237 | -114 | -66 | 9 | -114 | -38 | -28 | 0 |
| Financing Activities | -49 | -7 | -9 | -40 | 86 | 14 | 35 | 0 |
| Net Cash Flow | 17 | 6 | -10 | 12 | -26 | 27 | 0 | 0 |