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Waa Solar

541445 BSE
Price unavailable

Waa Solar (WAA) share price was ₹42.40 at the 27 Oct 2026 close; market capitalisation ₹56.24 Cr; sector Power. The share price fell 31.7% over the year to 27 Oct 2026 (adjusted for splits and bonuses). In the Mar 2026 quarter, revenue rose 36.8% year on year to ₹18.96 Cr and net profit was −₹1.17 Cr, against ₹7.26 Cr a year earlier (compared with Mar 2025). Promoters held 67.86% of Waa Solar in Sep 2026, unchanged from Mar 2026. Its Tapetide Score is 39/100 (Weak) as of 28 Oct 2026.

Close 27 Oct 2026 ₹42.40 −21.61 −33.76% 1Y

Key Fundamentals

SMEPowerUtilities
Market Cap
₹56.24 Cr
EBITDA
₹18.20 Cr
Return on Equity
-0.21%
Return on Capital Employed
3.32%
Debt to Equity
0.96
Book Value
₹139.16
EPS (TTM)
—
52W High
₹78.70
52W Low
₹39.01

Price-based figures as of 27 Oct 2026, 15:30 IST · TTM

Peer Comparison

Utilities › Power › Power Generation

NTPC
₹306.6010.712,97,300 Cr1.462.98%14.21%9.22%1,98,997 Cr28,333 Cr
Adani Green
₹1,296.80113.952,13,606 Cr9.890.00%6.65%6.85%15,145 Cr2,249 Cr
JSW Energy
₹508.6045.7893,251 Cr2.540.43%8.23%7.51%19,914 Cr2,460 Cr
NHPC
₹75.3219.9375,659 Cr1.832.20%6.69%4.09%14,819 Cr4,267 Cr
NTPC Green Energy
₹83.59117.7370,436 Cr3.710.00%2.72%2.90%3,468 Cr605 Cr
NLC India
₹230.209.9531,920 Cr1.481.67%14.91%9.33%20,134 Cr3,366 Cr
ACME Solar Holdings
₹427.1545.3930,194 Cr3.840.05%9.84%7.11%2,895 Cr602 Cr
Waa Solar (this company)
——56 Cr0.300.00%-0.21%3.32%——
Median 8 companies₹306.6045.3973,047 Cr2.190.24%7.46%6.98%15,145 Cr2,460 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 →

39 Weak
Overall score

Data confidence 84/100

Category scores

Quality Weak 39
Returns, margins, earnings quality 22% weight
Valuation Weak 45
Cheap vs sector & own history 24% weight
Growth Poor 28
Sales & profit trajectory 9% weight
Financial Health Poor 22
Solvency, leverage, coverage 9% weight
Momentum Poor 16
Trend strength, vol-adjusted 12% weight
Ownership Average 50
FII/DII/promoter flows 24% weight

The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.

Key Insights

Strengths

1
  • Stock is trading at 0.32 times its book value

Weaknesses

6
  • Though the company is reporting repeated profits, it is not paying out dividend
  • Company has low interest coverage ratio.
  • The company has delivered a poor sales growth of -8.73% over past five years.
  • Company has a low return on equity of 2.57% over last 3 years.
  • Promoters have pledged 75.2% of their holding.
  • Company has high debtors of 155 days.

Technical Indicators

Oscillators

Bearish

Bearish
3
Neutral
6
Bullish
0

Overall

Bearish

Bearish
11
Neutral
6
Bullish
2

Moving Averages

Bearish

Bearish
8
Neutral
0
Bullish
2

Growth Rate

Revenue Growth
-0.97% higher than 3Y

change over 1 year

Net Income Growth
-110% lower than 3Y

change over 1 year

Cash Flow Change
—

EBITDA Margin Change
42.1%

change over 1 year Operating margin 48.15% · Mar 2026

Quarterly Results

Particulars Mar 2020Sep 2020Mar 2021Sep 2021Mar 2022Sep 2022Mar 2023Sep 2023Mar 2024Sep 2024Mar 2025Sep 2025Mar 2026
Sales
16.94
21.39
22.77
21.33
24.67
25.68
23.36
23.65
3.04
14.38
13.86
8.81
18.96
Expenses
15.19
3.07
4.48
3.8
7
9.19
4.43
6.64
1.88
9.68
8.2
2.45
9.83
Operating Profit
1.75
18.32
18.29
17.53
17.67
16.49
18.93
17.01
1.16
4.7
5.66
6.36
9.13
OPM %
10.33%
85.65%
80.32%
82.18%
71.63%
64.21%
81.04%
71.92%
38.16%
32.68%
40.84%
72.19%
48.15%
Other Income
19.27
0.7
0.58
0.54
0.52
0.28
0.37
0.45
0.22
0.61
1.99
1.55
1.16
Interest
6.01
8.31
6.67
6.11
5.71
5.12
4.93
4.28
-0.27
2.24
2.86
4.81
6.31
Depreciation
5.85
8.24
8.15
8.06
8.07
7.96
7.99
7.98
1
4.5
-0.58
3
3.87
PBT
9.16
2.47
4.05
3.9
4.41
3.69
6.38
5.2
0.65
-1.43
5.37
0.1
0.11
Tax %
17.58%
18.22%
51.11%
17.18%
30.61%
19.51%
15.99%
16.15%
72.31%
0%
0.74%
20%
509.09%
Net Profit
8.59
2.1
2.2
4.21
3.53
3.6
6.81
5.04
1.59
-0.29
7.26
1.82
-1.17
EPS (₹)
6.45
1.49
1.56
2.84
2.63
2.87
4.57
3.54
1.46
-0.22
5.47
1.37
-0.88
Figures in ₹ Crores

Profit & Loss

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Sales
65.97
63.59
51.67
50.78
79.34
47.88
43.84
45.72
48.74
26.4
28.25
27.77
Expenses
20.34
21.81
7.95
9.07
18.82
18.83
7.21
10.51
13.3
8.11
17.81
12.28
Operating Profit
45.63
41.78
43.72
41.71
60.52
29.05
36.63
35.21
35.44
18.29
10.44
15.49
OPM %
69.17%
65.7%
84.61%
82.14%
76.28%
60.67%
83.55%
77.01%
72.71%
69.28%
36.96%
55.78%
Other Income
0.6
1.06
0.73
2.63
5.79
21.33
1.25
1.06
0.65
0.55
2.51
2.71
Interest
19.9
20.68
21.38
21.43
26.43
18.31
14.97
11.82
10.06
4.01
5.09
11.12
Depreciation
14.85
15.96
24.08
18.04
33.02
19.56
16.39
16.13
15.96
8.98
3.92
6.88
PBT
11.48
6.2
-1.01
4.87
6.86
12.51
6.52
8.32
10.07
5.85
3.94
0.2
Tax %
1.13%
1.13%
19.8%
19.51%
46.65%
18.94%
38.65%
24.28%
17.58%
22.39%
1.02%
290%
Net Profit
11.35
6.12
-1.21
3.92
3.79
11.25
4.3
7.73
10.38
6.63
6.97
0.65
EPS (₹)
284
121
-26.6
3.79
3.14
8.36
3.05
5.47
7.42
5
5.25
0.49
Div. Payout %
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
Figures in ₹ Crores

Balance Sheet

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
0.19
0.27
0.27
4.88
6.63
6.63
6.63
13.27
13.27
13.27
13.27
13.27
Reserves
81.27
109
63.74
113
142
155
158
159
167
169
174
171
Borrowings
329
179
173
188
235
149
135
115
93.5
50.82
142
178
Other Liabilities
35.92
10.07
12.4
14.88
76.73
30.88
22.13
23.27
24.79
1.6
3.98
49.25
Total Liabilities
447
298
249
320
461
342
322
310
299
235
333
412
Fixed Assets
396
257
191
226
204
104
138
122
107
44.4
98.45
181
CWIP
0
0
3.53
0.51
71.14
45.88
0
0
0
0.27
21.4
19.9
Investments
0.7
25.81
36.45
42.75
80.99
76.72
82.15
87.43
87.82
97.22
97.02
96.68
Other Assets
49.8
14.91
18.56
51.01
104
115
101
101
104
92.69
116
114
Total Assets
447
298
249
320
461
342
322
310
299
235
333
412
Figures in ₹ Crores

Cash Flow

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
47.36
52.3
42.4
40.35
106
24.57
33.96
31
36.86
14.97
-4.55
67.45
Investing
-194
98.12
-18.16
-33.98
-133
75.69
-18.28
1.41
-1.29
51.44
-62.95
-87.34
Financing
124
-151
-24.2
-5.58
62.55
-106
-38.52
-31.15
-30.92
-66.94
86.34
24.75
Net Cash Flow
-22.64
-0.34
0.04
0.79
36.3
-5.58
-22.84
1.27
4.65
-0.53
18.84
4.86
Free Cash Flow
-150
175
37.62
40.35
24.27
38.19
34.91
31
36.4
15.58
-83.66
-20.78
CFO/OP
104
125
97
99
181
93
100
94
108
91
-43
439
Figures in ₹ Crores

Ratios

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
12.84
11.94
14.27
45
14.54
81.57
90
106
90.91
208
215
155
Inventory Days
—
—
—
—
—
—
—
—
—
576
0
—
Days Payable
—
—
—
—
—
—
—
—
—
369
—
—
Cash Conversion Cycle
12.84
11.94
14.27
45
14.54
81.57
90
106
90.91
414
215
155
Working Capital Days
122
52.52
-92.61
160
-22.27
409
521
480
434
924
697
5.65
ROCE %
9.14%
7.43%
7.51%
9.4%
8.55%
5.7%
6.59%
6.46%
6.73%
3.76%
3.26%
3.24%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

Log in to view Waa Solar insights

63 extracted metrics + investor summaries across FY15–FY26.

Shareholding Pattern

Promot.67.86%Others2.80%Public29.34%As ofSep 2026
75.16% of promoter holding pledged as of 14 Oct 2026

Documents

Frequently Asked Questions about Waa Solar

What does Waa Solar Ltd do?
Incorporated in 2009, Waa Solar Ltd is in the business of solar power generation and its transmission[1]
Where is Waa Solar Ltd (WAA) listed?
Waa Solar Ltd trades under code 541445 on the BSE.
Which sector does Waa Solar Ltd belong to?
Waa Solar Ltd is classified under the Power sector, in the Power Generation industry.
What is the market capitalisation of Waa Solar Ltd?
Waa Solar Ltd has a market capitalisation of ₹56.24 Cr as of 27 Oct 2026, which places it in the Small Cap band.
What is the 52-week high and low of Waa Solar Ltd?
Over the last 52 weeks Waa Solar Ltd has traded between ₹39.01 and ₹78.7 as of 27 Oct 2026.
What is the Return on Equity (ROE) of Waa Solar Ltd?
Waa Solar Ltd reported a return on equity of -0.21%. Its debt-to-equity ratio is 0.96.

Company Information

Incorporated in 2009, Waa Solar Ltd is in the business of solar power generation and its transmission[1]

Website waasolar.org
CEO Mr. Amit Ashok Khurana
Employees 21
Listed 2018-06-12
Face Value ₹ 10
Shares Outstanding 1,32,65,063

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