WAA Solar
- Market cap
- ₹ 53 Cr.
- P/E
- 69.9x
- P/B
- 0.29x
- 52-week range
- 39.01 – 78.7
- ROE
- 0%
- ROCE
- 3.2%
- Dividend yield
- 0%
- Debt / equity
- 0.96
- Sector
- Power
- Industry
- Power Generation
- Listed on
- BSE SME
About
Waa Solar Limited is an India-based company, which is engaged in solar power generation. The Company sets up solar power projects and invests in special purpose vehicle (SPV) associate and subsidiary companies, which are engaged in solar power generation activities. The Company is also engaged in engineering, procurement and construction (EPC) in solar projects. Its segments include Solar Power Generation, EPC Contract, and Toll Collection. The Company’s projects include 10.25 MW Solar PV Power Project, Surendranagar, Gujarat; 100 KW Solar PV Power Project, Raja Bhoj Airport, Bhopal; 10.42 MW Solar PV Power Project, District: Koppal, Karnataka; 4.00 MW Solar PV Power Project, District: Mansa, Punjab, and 4.00 MW Solar PV Power Project, District: Vadodara, Gujarat. The Company's subsidiaries include Madhav Infracon (Vidisha Kurwai Corridor) Pvt Ltd, Sol Kar Infrastructure Pvt Ltd, Madhav Solar (J) Private Limited, and Aspire Infracon Pvt. Ltd.
Quick check
The five things to look at first. Open one for more.
Compared with its industry
Power Generation: 36 companies →WAA Solar against the typical company in its industry. The rank is out of the companies that report each figure; green means the better quarter of the pack, red the worse quarter.
- Valuation (P/E)69.9 against a typical 35: pricier than most peers (1st = cheapest).23rd of 36
- Sales growth+523.7% against a typical +6.5% from a year earlier.1st of 30
- Profit growth−173.6% against a typical −1.3% from a year earlier.24th of 25
- Share price, 3 months−7.8% against a typical −11.9%.12th of 34
- Size₹ 53.2 Cr. market value against a typical ₹ 2,247.1 Cr. (1st = largest).27th of 33
Financials
Consolidated figures in ₹ crore.
| ₹ Cr. | Sep 2020 | Mar 2021 | Sep 2021 | Mar 2022 | Sep 2022 | Mar 2023 | Sep 2023 | Mar 2024 | Sep 2024 | Mar 2025 | Sep 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 21 | 23 | 21 | 25 | 26 | 23 | 24 | 3 | 14 | 14 | 9 | 19 |
| Expenses | 3 | 4 | 4 | 7 | 9 | 4 | 7 | 2 | 10 | 8 | 2 | 10 |
| Operating Profit | 18 | 18 | 18 | 18 | 16 | 19 | 17 | 1 | 5 | 6 | 6 | 9 |
| OPM % | 85.7% | 80.3% | 82.2% | 71.6% | 64.2% | 81% | 71.9% | 38.2% | 32.7% | 40.8% | 72.2% | 48.2% |
| Other Income | 1 | 1 | 1 | 1 | 0 | 0 | 0 | 0 | 1 | 2 | 2 | 1 |
| Interest | 8 | 7 | 6 | 6 | 5 | 5 | 4 | −0 | 2 | 3 | 5 | 6 |
| Depreciation | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 1 | 5 | −1 | 3 | 4 |
| Profit before tax | 2 | 4 | 4 | 4 | 4 | 6 | 5 | 1 | −1 | 5 | 0 | 0 |
| Tax % | 18.2% | 51.1% | 17.2% | 30.6% | 19.5% | 16% | 16.2% | 72.3% | 0% | 0.7% | 20% | 509.1% |
| Net Profit | 2 | 2 | 4 | 4 | 4 | 7 | 5 | 2 | −0 | 7 | 2 | −1 |
| EPS in Rs | 1.49 | 1.56 | 2.84 | 2.63 | 2.87 | 4.57 | 3.54 | 1.46 | −0.22 | 5.47 | 1.37 | −0.88 |
Growth and returns
Compounded yearly rates over each period.
- 10 Years
- −8%
- 5 Years
- −9%
- 3 Years
- −17%
- TTM
- −2%
- 10 Years
- −23%
- 5 Years
- −35%
- 3 Years
- −64%
- TTM
- −93%
- 10 Years
- —
- 5 Years
- 7%
- 3 Years
- −17%
- TTM
- —
- 10 Years
- 3%
- 5 Years
- 3%
- 3 Years
- 3%
- TTM
- —
P/E and EPS over time
Daily P/E and trailing 12-month EPS. EPS updates with each result.
Peers
Listed companies in the same business.
| WAA Solar | ₹ 42.40 | ₹ 53 Cr. | 69.9x | 0.3x | 0% | — |
| Adani Power | ₹ 182.00 | ₹ 70,196 Cr. | 33.1x | 6.5x | 21.2% | 23.9% |
| NTPC | ₹ 298.00 | ₹ 2,88,961 Cr. | 12.5x | 1.7x | 14% | 16% |
| Power Grid Corporation of India | ₹ 247.20 | ₹ 2,29,911 Cr. | 14.4x | 2.7x | 16.5% | 40% |
| Adani Green Energy | ₹ 1,185.00 | ₹ 1,95,190 Cr. | 130.6x | 12.6x | 10.3% | 12.1% |
| Adani Energy Solutions | ₹ 1,219.85 | ₹ 1,49,972 Cr. | 90.5x | 8.2x | 9.6% | 8.5% |
Management
- Amit A. Khurana
- Managing Director, Executive Chairman of the Board
- Mohanan Shankaran Choran
- Chief Financial Officer
- Mansi Gopalbhai Heda
- Compliance Officer, Company Secretary
- Neelakshi Khurana
- Executive Director
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