Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Financials of Waaree Renewable Technologies Ltd
Quarter-by-quarter operating performance
| Mar 2023 | 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 + | 61 | 129 | 150 | 324 | 273 | 236 | 524 | 360 | 477 | 603 | 775 | 851 | 1,102 |
| Expenses + | 39 | 116 | 119 | 236 | 198 | 195 | 453 | 288 | 350 | 486 | 617 | 692 | 896 |
| Operating Profit | 22 | 13 | 31 | 88 | 75 | 41 | 72 | 72 | 126 | 118 | 158 | 159 | 207 |
| OPM % | 36% | 10% | 20% | 27% | 28% | 17% | 14% | 20% | 27% | 19% | 20% | 19% | 19% |
| Other Income + | 0 | 1 | 1 | 0 | 2 | 3 | 3 | 4 | 1 | 5 | 4 | 5 | 6 |
| Interest | 2 | 1 | 2 | 0 | 4 | 3 | 4 | 3 | 4 | 4 | 4 | 3 | 3 |
| Depreciation | 1 | 1 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 |
| Profit before tax | 20 | 12 | 28 | 86 | 72 | 39 | 69 | 71 | 121 | 117 | 157 | 158 | 208 |
| Tax % | 37% | 27% | 25% | 26% | 29% | 28% | 23% | 24% | 23% | 26% | 26% | 24% | 25% |
| Net Profit + | 12 | 9 | 21 | 64 | 51 | 28 | 54 | 53 | 94 | 86 | 116 | 120 | 156 |
| EPS in Rs | 1.18 | 0.88 | 1.98 | 6.17 | 4.93 | 2.72 | 5.14 | 5.13 | 9.00 | 8.29 | 11.16 | 11.52 | 14.93 |
Financials of Waaree Renewable Technologies Ltd
Annual income statement trend
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|
| Sales + | 2 | 7 | 6 | 13 | 162 | 351 | 876 | 1,598 | 3,331 |
| Expenses + | 2 | 4 | 5 | 6 | 138 | 267 | 669 | 1,287 | 2,690 |
| Operating Profit | 0 | 3 | 1 | 7 | 24 | 84 | 207 | 311 | 641 |
| OPM % | 25% | 45% | 15% | 54% | 15% | 24% | 24% | 19% | 19% |
| Other Income + | 0 | 1 | 1 | 2 | 8 | 2 | 4 | 11 | 20 |
| Interest | 0 | 2 | 3 | 4 | 7 | 5 | 7 | 15 | 13 |
| Depreciation | 0 | 1 | 1 | 2 | 4 | 3 | 6 | 6 | 9 |
| Profit before tax | 0 | 1 | -3 | 3 | 21 | 77 | 198 | 300 | 640 |
| Tax % | 79% | 334% | 26% | 170% | 58% | 28% | 27% | 24% | 25% |
| Net Profit + | 0 | -2 | -3 | -2 | 9 | 55 | 145 | 229 | 479 |
| EPS in Rs | 0.02 | -0.38 | -0.31 | -0.23 | 0.85 | 5.32 | 13.95 | 21.98 | 45.88 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 12% | 4% | 7% | 5% | 0% |
Financials of Waaree Renewable Technologies Ltd
Capital structure and asset base
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 10 | 10 | 21 | 21 | 21 | 21 | 21 | 21 | 21 |
| Reserves | 0 | -1 | 5 | 1 | 9 | 64 | 226 | 435 | 913 |
| Borrowings + | 0 | 37 | 40 | 125 | 42 | 39 | 40 | 27 | 146 |
| Other Liabilities + | 5 | 48 | 56 | 55 | 96 | 159 | 427 | 637 | 1,294 |
| Total Liabilities | 16 | 95 | 122 | 203 | 168 | 283 | 714 | 1,120 | 2,374 |
| Fixed Assets + | 4 | 32 | 30 | 155 | 73 | 74 | 157 | 198 | 272 |
| CWIP | 4 | 3 | 41 | 2 | 1 | 80 | 3 | 56 | 178 |
| Investments | 0 | 0 | 0 | 30 | 1 | 0 | 9 | 52 | 31 |
| Other Assets + | 8 | 59 | 50 | 17 | 93 | 128 | 545 | 814 | 1,893 |
| Total Assets | 16 | 95 | 122 | 203 | 168 | 283 | 714 | 1,120 | 2,374 |
Financials of Waaree Renewable Technologies Ltd
Operating, investing and financing cash movement
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | 0 | -7 | 51 | 2 | 43 | 65 | 128 | 303 | 287 |
| Cash from Investing Activity + | 0 | -28 | -38 | -114 | 9 | -66 | -114 | -237 | -264 |
| Cash from Financing Activity + | 0 | 35 | 14 | 86 | -40 | -9 | -7 | -49 | 23 |
| Net Cash Flow | 0 | 0 | 27 | -26 | 12 | -10 | 6 | 17 | 45 |
| Free Cash Flow | 0 | -35 | 11 | -84 | 36 | -18 | 117 | 201 | 164 |
| CFO/OP | 0% | -202% | 5,820% | 34% | 196% | 84% | 74% | 120% | 66% |
Financials of Waaree Renewable Technologies Ltd
Working capital efficiency and return ratios
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 74 | 214 | 87 | 131 | 105 | 64 | 155 | 114 | 128 |
| Inventory Days | 44 | 5 | 53 | 17 | 2 | 16 | |||
| Days Payable | 578 | 164 | 108 | 168 | 69 | 108 | |||
| Cash Conversion Cycle | 74 | 214 | 87 | -403 | -54 | 9 | 3 | 47 | 37 |
| Working Capital Days | -849 | -513 | -1,059 | -205 | -91 | -42 | 0 | -11 | 11 |
| ROCE % | 7% | 2% | 6% | 22% | 84% | 100% | 82% | 84% |