Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Financials of Waaree Energies Ltd
Quarter-by-quarter operating performance
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 3,328 | 3,537 | 1,596 | 2,936 | 3,409 | 3,574 | 3,457 | 4,004 | 4,426 | 6,066 | 7,565 | 8,480 |
| Expenses + | 2,861 | 3,020 | 1,425 | 2,518 | 2,856 | 3,050 | 2,736 | 3,081 | 3,429 | 4,659 | 5,637 | 6,904 |
| Operating Profit | 468 | 517 | 171 | 418 | 552 | 525 | 722 | 923 | 997 | 1,406 | 1,928 | 1,577 |
| OPM % | 14% | 15% | 11% | 14% | 16% | 15% | 21% | 23% | 23% | 23% | 25% | 19% |
| Other Income + | 87 | 21 | 105 | 364 | 88 | 89 | 88 | 133 | 171 | 161 | -99 | 180 |
| Interest | 40 | 33 | 18 | 48 | 34 | 31 | 31 | 57 | 43 | 96 | 93 | 48 |
| Depreciation | 57 | 71 | 74 | 75 | 76 | 84 | 89 | 153 | 182 | 240 | 267 | 301 |
| Profit before tax | 457 | 435 | 184 | 659 | 531 | 499 | 690 | 845 | 943 | 1,231 | 1,469 | 1,408 |
| Tax % | 26% | 26% | 23% | 28% | 24% | 25% | 27% | 24% | 18% | 29% | 25% | 20% |
| Net Profit + | 338 | 320 | 141 | 475 | 401 | 376 | 507 | 644 | 773 | 878 | 1,107 | 1,126 |
| EPS in Rs | 17.05 | 15.98 | 6.32 | 23.41 | 19.99 | 13.73 | 17.15 | 21.54 | 25.94 | 29.29 | 36.94 | 36.89 |
Financials of Waaree Energies Ltd
Annual income statement trend
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Sales + | 1,996 | 1,953 | 2,854 | 6,751 | 11,398 | 14,444 | 26,537 |
| Expenses + | 1,903 | 1,868 | 2,748 | 5,915 | 9,823 | 11,723 | 20,628 |
| Operating Profit | 93 | 85 | 106 | 836 | 1,574 | 2,722 | 5,909 |
| OPM % | 5% | 4% | 4% | 12% | 14% | 19% | 22% |
| Other Income + | 25 | 45 | 97 | 88 | 576 | 398 | 413 |
| Interest | 34 | 31 | 41 | 82 | 140 | 152 | 280 |
| Depreciation | 27 | 29 | 43 | 164 | 277 | 402 | 990 |
| Profit before tax | 57 | 70 | 118 | 677 | 1,734 | 2,565 | 5,052 |
| Tax % | 31% | 31% | 33% | 26% | 27% | 25% | 23% |
| Net Profit + | 39 | 48 | 80 | 500 | 1,274 | 1,928 | 3,884 |
| EPS in Rs | 2.12 | 2.50 | 3.84 | 24.49 | 62.76 | 65.00 | 129.02 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
Financials of Waaree Energies Ltd
Capital structure and asset base
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Equity Capital | 197 | 197 | 197 | 243 | 263 | 287 | 288 |
| Reserves | 101 | 148 | 231 | 1,595 | 3,825 | 9,192 | 14,150 |
| Borrowings + | 157 | 340 | 363 | 320 | 553 | 1,199 | 3,213 |
| Other Liabilities + | 483 | 596 | 1,362 | 5,247 | 6,635 | 9,028 | 12,465 |
| Total Liabilities | 938 | 1,281 | 2,154 | 7,406 | 11,277 | 19,706 | 30,115 |
| Fixed Assets + | 152 | 285 | 625 | 1,105 | 1,450 | 4,051 | 7,329 |
| CWIP | 40 | 3 | 124 | 537 | 1,341 | 1,884 | 3,476 |
| Investments | 85 | 115 | 143 | 31 | 71 | 65 | 953 |
| Other Assets + | 661 | 878 | 1,262 | 5,732 | 8,414 | 13,706 | 18,358 |
| Total Assets | 938 | 1,281 | 2,154 | 7,406 | 11,277 | 19,706 | 30,115 |
Financials of Waaree Energies Ltd
Operating, investing and financing cash movement
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | 83 | 67 | 698 | 1,560 | 2,305 | 3,158 | 1,627 |
| Cash from Investing Activity + | -22 | -250 | -673 | -2,088 | -3,346 | -6,806 | -3,953 |
| Cash from Financing Activity + | -50 | 161 | 101 | 642 | 909 | 4,036 | 2,573 |
| Net Cash Flow | 12 | -21 | 126 | 114 | -132 | 388 | 247 |
| Free Cash Flow | 32 | -35 | 202 | 698 | 968 | -114 | -3,209 |
| CFO/OP | 102% | 105% | 683% | 199% | 168% | 143% | 47% |
Financials of Waaree Energies Ltd
Working capital efficiency and return ratios
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Debtor Days | 26 | 22 | 12 | 17 | 31 | 30 | 34 |
| Inventory Days | 54 | 83 | 85 | 192 | 108 | 96 | 118 |
| Days Payable | 67 | 99 | 83 | 143 | 84 | 91 | 63 |
| Cash Conversion Cycle | 13 | 6 | 14 | 66 | 55 | 35 | 90 |
| Working Capital Days | 10 | 2 | -84 | -66 | -40 | -87 | -26 |
| ROCE % | 16% | 21% | 52% | 44% | 35% | 39% |