Waaree Technologies
Waaree Technologies (WAAREE) share price was ₹178.75 at the 28 Oct 2026 close; market capitalisation ₹193 Cr; sector Power. The share price fell 35.6% over the year to 28 Oct 2026 (adjusted for splits and bonuses). In the Mar 2026 quarter, revenue fell 34.7% year on year to ₹3.03 Cr and net profit was −₹2.46 Cr, against −₹3.03 Cr a year earlier (compared with Mar 2025). Promoters held 58.81% of Waaree Technologies in Sep 2026, unchanged from Mar 2026. Its Tapetide Score is 30/100 (Poor) as of 28 Oct 2026.
Key Fundamentals
SMEPowerUtilitiesPrice-based figures as of 29 Oct 2026, 11:20 IST · TTM
Peer Comparison
Utilities › Power › Power Generation
| ₹306.90 | 10.72 | 2,97,591 Cr | 1.46 | 2.98% | 14.21% | 9.22% | 1,98,997 Cr | 28,333 Cr | |
| ₹1,305.80 | 114.75 | 2,15,088 Cr | 9.96 | 0.00% | 6.65% | 6.85% | 15,145 Cr | 2,249 Cr | |
| ₹508.70 | 45.79 | 93,269 Cr | 2.54 | 0.43% | 8.23% | 7.51% | 19,914 Cr | 2,460 Cr | |
| ₹75.61 | 20.00 | 75,951 Cr | 1.83 | 2.20% | 6.69% | 4.09% | 14,819 Cr | 4,267 Cr | |
| ₹83.59 | 117.73 | 70,436 Cr | 3.71 | 0.00% | 2.72% | 2.90% | 3,468 Cr | 605 Cr | |
| ₹230.35 | 9.95 | 31,941 Cr | 1.48 | 1.67% | 14.91% | 9.33% | 20,134 Cr | 3,366 Cr | |
| ₹425.95 | 45.27 | 30,109 Cr | 3.83 | 0.05% | 9.84% | 7.11% | 2,895 Cr | 602 Cr | |
| Waaree Technologies (this company) | ₹176.00 | — | 190 Cr | — | 0.00% | 68.63% | -62.80% | 4 Cr | 0 Cr |
| Median 8 companies | ₹268.63 | 45.27 | 73,193 Cr | 2.54 | 0.24% | 9.04% | 6.98% | 14,982 Cr | 2,355 Cr |
Comparable companies in the same industry. Market cap, P/E and P/B use the live price; other metrics are as reported in filings. A dash means the figure is not published for that company.
Tapetide Score
Data-driven rating, 0–100, as of . How it works →
Data confidence 93/100
Category scores
The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.
Key Insights
Weaknesses
1- Company has low interest coverage ratio.
Technical Indicators
Oscillators
Bearish
Overall
Bearish
Moving Averages
Bearish
Growth Rate
change over 1 year
change over 1 year
change over 1 year
change over 1 year Operating margin -81.19% · Mar 2026
Quarterly Results
| Particulars | Mar 2020 | 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 | 0 | 0 | 0 | 0 | 13.13 | 7.5 | 21.89 | 13.5 | 15.05 | 5.6 | 4.64 | 4.11 | 3.03 |
| Expenses | 0.1 | 0.06 | 0.21 | 0.17 | 13.03 | 7.47 | 23 | 15.1 | 21.31 | 7.99 | 7.73 | 5.2 | 5.49 |
| Operating Profit | -0.1 | -0.06 | -0.21 | -0.17 | 0.1 | 0.03 | -1.11 | -1.6 | -6.26 | -2.39 | -3.09 | -1.09 | -2.46 |
| OPM % | — | — | — | — | 0.76% | 0.4% | -5.07% | -11.85% | -41.59% | -42.68% | -66.59% | -26.52% | -81.19% |
| Other Income | 0.03 | 0 | 0.04 | 0.09 | 0.27 | 0.15 | 0.17 | 0.22 | 0.14 | 0.04 | 0.18 | 0.19 | 0.13 |
| Interest | 0 | 0 | 0 | 0.02 | 0.02 | 0.01 | 0.03 | 0.2 | 0.02 | 0.02 | 0.07 | 0.28 | 0.32 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0.68 | 1.09 | 1.09 | 1.09 | 1.1 | 1.08 | 0.64 |
| PBT | -0.07 | -0.06 | -0.17 | -0.1 | 0.35 | 0.17 | -1.65 | -2.67 | -7.23 | -3.46 | -4.08 | -2.26 | -3.29 |
| Tax % | 0% | 0% | -52.94% | -30% | 25.71% | 17.65% | -24.85% | -25.09% | -23.79% | -24.28% | -25.74% | -24.34% | -25.23% |
| Net Profit | -0.08 | -0.06 | -0.08 | -0.07 | 0.26 | 0.15 | -1.24 | -1.99 | -5.51 | -2.62 | -3.03 | -1.72 | -2.46 |
| EPS (₹) | -0.22 | -0.16 | -0.22 | -0.07 | 0.24 | 0.14 | -1.15 | -1.85 | -5.12 | -2.43 | -2.81 | -1.6 | -2.28 |
Profit & Loss
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 4.2 | 4.95 | 4.76 | 6.78 | 1.47 | -0.76 | 0 | 13.13 | 29.4 | 28.55 | 10.24 | 7.13 |
| Expenses | 4.04 | 4.87 | 4.61 | 6.71 | 1.66 | -0.54 | 0.28 | 13.19 | 30.45 | 36.4 | 15.71 | 10.68 |
| Operating Profit | 0.16 | 0.08 | 0.15 | 0.07 | -0.19 | -0.22 | -0.28 | -0.06 | -1.05 | -7.85 | -5.47 | -3.55 |
| OPM % | 3.81% | 1.62% | 3.15% | 1.03% | -12.93% | — | — | -0.46% | -3.57% | -27.5% | -53.42% | -49.79% |
| Other Income | 0.03 | 0.11 | 0.04 | 0.06 | 0.14 | 0.1 | 0.05 | 0.36 | 0.32 | 0.36 | 0.22 | 0.32 |
| Interest | 0 | 0 | 0 | 0.01 | 0.05 | 0.01 | 0 | 0.04 | 0.07 | 0.23 | 0.09 | 0.6 |
| Depreciation | 0.03 | 0.04 | 0.04 | 0.03 | 0 | 0.01 | 0 | 0 | 0.68 | 2.18 | 2.19 | 1.73 |
| PBT | 0.16 | 0.15 | 0.15 | 0.09 | -0.1 | -0.14 | -0.23 | 0.26 | -1.48 | -9.9 | -7.53 | -5.56 |
| Tax % | 31.25% | 33.33% | 33.33% | 33.33% | -20% | 0% | -39.13% | 26.92% | -26.35% | -24.14% | -24.97% | -24.82% |
| Net Profit | 0.11 | 0.1 | 0.11 | 0.05 | -0.08 | -0.14 | -0.14 | 0.19 | -1.09 | -7.5 | -5.65 | -4.18 |
| EPS (₹) | 0.58 | 0.27 | 0.3 | 0.14 | -0.22 | -0.38 | -0.38 | 0.18 | -1.01 | -6.97 | -5.25 | -3.88 |
| Div. Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
Balance Sheet
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 1.36 | 2.63 | 2.63 | 2.63 | 2.63 | 2.63 | 3.68 | 10.77 | 10.77 | 10.77 | 10.77 | 10.77 |
| Reserves | 0.21 | 1.22 | 1.33 | 1.38 | 1.3 | 1.16 | -0.03 | 1.56 | 0.47 | -7.03 | -12.68 | -16.86 |
| Borrowings | 0 | 0 | 0 | 0.29 | 0.38 | 0 | 0.15 | 0 | 3.05 | 17.85 | 17.66 | 21.11 |
| Other Liabilities | 0.6 | 0.69 | 0.22 | 0.09 | 0.02 | 0.03 | 0.04 | 0.14 | 18.63 | 3.21 | 3.75 | 2.77 |
| Total Liabilities | 2.17 | 4.54 | 4.18 | 4.39 | 4.33 | 3.82 | 3.84 | 12.47 | 32.92 | 24.8 | 19.5 | 17.79 |
| Fixed Assets | 0.16 | 0.19 | 0.15 | 0 | 0.01 | 0.01 | 0 | 0 | 7.47 | 5.77 | 3.95 | 2.42 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0.75 | 0.21 | 0.21 | 0 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0.15 | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 |
| Other Assets | 2.01 | 4.35 | 4.03 | 4.39 | 4.32 | 3.81 | 3.69 | 12.27 | 24.5 | 18.62 | 15.14 | 15.17 |
| Total Assets | 2.17 | 4.54 | 4.18 | 4.39 | 4.33 | 3.82 | 3.84 | 12.47 | 32.92 | 24.8 | 19.5 | 17.79 |
Cash Flow
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating | 0.67 | -0.85 | -1.06 | -1.5 | 0.1 | 0.09 | 3.24 | -10.49 | 9.15 | -15.12 | -1.74 | -2.48 |
| Investing | 0 | 0.04 | 0.04 | 0.15 | 0.01 | 0.09 | -0.1 | 0.13 | -8.87 | 0.22 | -0.23 | -0.07 |
| Financing | -0.06 | 2.17 | 0 | 0.28 | 0.04 | -0.38 | 0.15 | 8.3 | 3.01 | 14.57 | -0.27 | 2.85 |
| Net Cash Flow | 0.6 | 1.37 | -1.02 | -1.08 | 0.14 | -0.2 | 3.29 | -2.06 | 3.29 | -0.32 | -2.25 | 0.3 |
| Free Cash Flow | 0.65 | -0.91 | -1.06 | -1.4 | 0.09 | 0.08 | 3.24 | -10.49 | 0.26 | -15.07 | -2.11 | -2.68 |
| CFO/OP | 456 | -988 | -673 | -2,100 | -58 | -41 | -1,157 | 17,483 | -871 | 193 | 32 | 70 |
Ratios
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 54.75 | 110 | 73.61 | 122 | 246 | — | — | 247 | 3.72 | 1.41 | 0 | 5.63 |
| Inventory Days | 48.34 | 50.63 | 178 | 35.44 | 0 | — | — | 2.33 | 171 | 77.86 | 129 | 129 |
| Days Payable | 47.35 | 51.44 | 14.52 | 0.59 | — | — | — | 2.91 | 29.9 | 10.52 | 35.59 | 54.35 |
| Cash Conversion Cycle | 55.74 | 109 | 237 | 157 | 246 | — | — | 246 | 145 | 68.75 | 93.53 | 80.36 |
| Working Capital Days | 51.27 | 108 | 202 | 212 | 911 | — | — | 301 | -25.7 | -120 | 27.09 | -164 |
| ROCE % | 10% | 5.54% | 3.84% | 2.91% | -1.16% | -3.21% | -6.06% | 3.72% | -10.59% | -53.9% | -39.85% | -32.24% |
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
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58 extracted metrics + investor summaries across FY15–FY26.
Documents
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Company Information
Incorporated in 2013, Waaree Technologies Ltd trades e-vehicles, batteries, lithium batteries and artificial intelligence based products & services[1]
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