Waaree Energies Ltd
Fortune 500 2024
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OVERVIEW
FINANCIALS
NEWS
About
Waaree Energies Limited (WEL) was founded in 1990, with headquarters in Mumbai, India. The company boasts an aggregate installed capacity totalling 13.3 GW, across its facilities located in Chikhli, Surat, Tumb, Nandigram in Gujarat and Noida, and 1.5 GW in the USA. WEL, the flagship company of the Waaree Group, has 4 solar module manufacturing facilities and has a presence in 388+ locations nationally and 68 countries internationally. Bloomberg New Energy Finance has consecutively listed the company in Tier 1 Module Manufacturers for 35 quarters. Waaree Energies' equity shares made their stock market debut on October 28, 2024, receiving an overwhelming response for was subscribed 76.34 times.
Incorporation Year: 1990
Headquarters: Mumbai, India
Top Management: Chairman & MD : Hitesh Chimanlal Doshi
Industry: Capital Goods - Renewables
Website: waaree.com
Featured In Fortune India Ranking
Fortune 500 India
#195(2024)
#276(2023)
#195(2024)#276(2023)
Ranking Trend Fortune 500 India
Financial Data 2024
Revenue
12,536
(INR Cr)
Net Operating Income
11,398
(INR Cr)
Assets
6,097
(INR Cr)
Profit
1,237
(INR Cr)
Net Worth
4,088
(INR Cr)
Fortune India Coverage
Financial Data
RevenueNet Operating IncomeProfitAssetsNet Worth
| PARAMETERS | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (INR Cr) | 12536 59.4% | 7867 172.5% | 2887 39.5% | 2071 1.5% | 2041 24.3% | 1641 24.9% | 1314 31.4% | 1001 24.4% | 805 138.9% | 337 14.9% | 293 16.6% | 251 800.8% | 28 0.0% | 28 - |
| Net Operating Income (INR Cr) | 11398 68.83% | 6751 136.52% | 2854 46.16% | 1953 -2.15% | 1996 25.44% | 1591 0.00% | 1277 0.00% | 998 27.43% | 783 0.00% | 314 7.48% | 292 24.62% | 234 740.25% | 28 0.00% | 28 0.00% |
| Profit (INR Cr) | 1237 156.3% | 483 538.2% | 76 53.7% | 49 18.0% | 42 -49.3% | 82 225.5% | 25 11.0% | 23 -16.7% | 27 - | 0 -98.7% | 25 57.9% | 16 - | 0 - | -3 - |
| Assets (INR Cr) | 6097 136.4% | 2579 205.2% | 845 11.3% | 759 45.0% | 524 25.7% | 417 4.2% | 400 67.0% | 239 -5.8% | 254 6.7% | 238 21.4% | 196 69.3% | 116 77.3% | 65 152.4% | 26 - |
| Net Worth (INR Cr) | 4088 122.4% | 1838 329.9% | 428 23.9% | 345 15.8% | 298 16.1% | 257 0.0% | 223 0.0% | 163 16.2% | 141 0.0% | 112 1.3% | 111 29.5% | 86 338.1% | 20 205.0% | 6 0.0% |
| Employee Cost (INR Cr) | 154 30.1% | 118 129.7% | 51 17.1% | 44 -12.7% | 50 20.8% | 42 30.8% | 32 54.3% | 21 31.6% | 16 -24.3% | 21 93.3% | 11 131.3% | 5 - | 0 - | 0 - |
| Interest Cost (INR Cr) | 140 | 82 | 41 | 31 | 34 | 59 | 17 | 16 | 11 | 11 | 6 | 10 | 0 | 0 |
| Cash & Bank Balance (INR Cr) | 3779 | 1736 | 366 | 110 | 79 | 119 | 15 | 23 | 79 | 22 | 13 | 11 | 1 | 0 |
| Total Debt (INR Cr) | 553 | 320 | 363 | 340 | 157 | 142 | 154 | 68 | 110 | 123 | 83 | 29 | 46 | 20 |
Key Financial Ratios
Profit As % Of RevenuesRONW %Interest Cost to EBITDA %ROCE %Debt to Equity Ratio
| PARAMETERS | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Profit As % Of Revenues | 9.9% | 6.1% | 2.6% | 2.4% | 2.0% | 5.0% | 1.9% | 2.3% | 3.4% | 0.1% | 8.6% | 6.4% | 0.4% | - |
| Profit As % Of Assets | 20.3% | 18.7% | 9.0% | 6.5% | 8.0% | 19.8% | 6.3% | 9.5% | 10.8% | 0.1% | 12.9% | 13.8% | 0.2% | - |
| Profit As % Of Networth | 30.3% | 26.3% | 17.7% | 14.3% | 14.0% | 32.1% | 11.4% | 14.0% | 19.5% | 0.3% | 22.8% | 18.7% | 0.6% | - |
| Interest Cost to EBITDA % | 8.9% | 10.1% | 38.6% | 36.5% | 36.5% | 41.1% | 28.8% | 27.0% | 26.7% | - | 14.5% | 38.6% | - | - |
| Debt to Equity Ratio | 0.14 | 0.17 | 0.85 | 0.99 | 0.53 | 0.55 | 0.69 | 0.42 | 0.78 | 1.10 | 0.75 | 0.34 | 2.35 | 3.05 |
| RONW | 34.4% | 44.2% | 20.6% | 15.0% | 14.1% | 20.4% | 11.4% | 15.0% | 19.5% | 0.3% | 25.7% | 29.0% | 0.8% | - |
| ROCE | 35.0% | 44.8% | 20.6% | 16.8% | 20.2% | 29.8% | 14.7% | 21.7% | 21.1% | 5.3% | 29.1% | 32.6% | 0.3% | 0.0% |