Waaree Technologies Limited
BSE: WAAREE · Power Generation
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Snapshot
Unlock Waaree Technologies Limited's vital signs
Growth · Profitability · Valuation · Strength · Conviction
Company Overview
Business
Waaree Energies Limited is a prominent Indian manufacturer of solar photovoltaic modules and a provider of comprehensive renewable energy solutions. The company operates large-scale manufacturing facilities in Gujarat and serves a broad customer base across utility, commercial, and residential segments.
Business Model
The company generates revenue through the manufacturing of solar modules, the provision of engineering, procurement, and construction (EPC) services, and the delivery of operations and maintenance support for solar projects.
Growth Outlook
Growth is driven by India's national solar energy targets and the company's expanding footprint in international markets, particularly the United States. Continued investment in vertical integration and manufacturing capacity remains a core strategic focus.
Key Risks
- Regulatory and Policy Risk. Changes in government subsidies, import duties, or renewable energy policies could significantly impact demand and profitability.
- Supply Chain Volatility. Fluctuations in the cost and availability of raw materials, such as polysilicon and glass, pose a risk to manufacturing margins.
- Competitive Intensity. The solar module market is highly competitive, with potential pressure from low-cost international manufacturers impacting pricing power.
- Geopolitical Risk. As a significant exporter, the company is exposed to trade barriers and geopolitical tensions in key international markets like the United States.
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Peers · Power Generation
| Company | Mkt Cap | P/E | EV/EBITDA | Rev Gr YoY | EBITDA Mgn | ROE | ROCE | 1Y Return |
|---|---|---|---|---|---|---|---|---|
Waaree Technologies LimitedWAAREE | ₹232 Cr | — | — | — | 22.0% | — | — | -25.6% |
RattanIndia Power LimitedRTNPOWER | ₹4,269 Cr | 37.86 | 10.43 | -6.5% | 25.5% | 2.4% | 6.1% | -35.3% |
Gujarat Industries Power Company LimitedGIPCL | ₹3,196 Cr | 6.36 | 7.39 | 23.8% | 52.8% | 13.7% | 6.8% | +15.8% |
Insolation EnerINA | ₹2,040 Cr | — | — | — | 13.0% | — | — | -58.1% |
K.P. EnergyKPEL | ₹1,691 Cr | 9.19 | 6.08 | 74.3% | 19.0% | 43.5% | 39.7% | -41.0% |
Orient Green Power Company LimitedGREENPOWER | ₹1,101 Cr | 17.07 | 7.72 | -0.1% | 69.5% | 6.0% | 7.7% | -31.1% |
As of Mar 2026
Financials
Waaree Technologies Limited
BSE: WAAREE · Power Generation
Limited coverage
We are not actively covering this company or have limited coverage today. Click to request coverage.
Snapshot
Unlock Waaree Technologies Limited's vital signs
Growth · Profitability · Valuation · Strength · Conviction
Company Overview
Business
Waaree Energies Limited is a prominent Indian manufacturer of solar photovoltaic modules and a provider of comprehensive renewable energy solutions. The company operates large-scale manufacturing facilities in Gujarat and serves a broad customer base across utility, commercial, and residential segments.
Business Model
The company generates revenue through the manufacturing of solar modules, the provision of engineering, procurement, and construction (EPC) services, and the delivery of operations and maintenance support for solar projects.
Growth Outlook
Growth is driven by India's national solar energy targets and the company's expanding footprint in international markets, particularly the United States. Continued investment in vertical integration and manufacturing capacity remains a core strategic focus.
Key Risks
- Regulatory and Policy Risk. Changes in government subsidies, import duties, or renewable energy policies could significantly impact demand and profitability.
- Supply Chain Volatility. Fluctuations in the cost and availability of raw materials, such as polysilicon and glass, pose a risk to manufacturing margins.
- Competitive Intensity. The solar module market is highly competitive, with potential pressure from low-cost international manufacturers impacting pricing power.
- Geopolitical Risk. As a significant exporter, the company is exposed to trade barriers and geopolitical tensions in key international markets like the United States.
Start your research today
Unlock AI insights, financials, peers and live data on Waaree Technologies Limited and 5,000+ companies — free.
Peers · Power Generation
As of Mar 2026