Waa SolarShare price, financial results, shareholding and management
- Market cap
- ₹55 cr
- Stock P/E
- -
- Book value
- ₹139
- Price to book
- 0.30
- EV / operating profit
- -
- Market cap to sales
- 1.98
- ROCE · FY26
- 3.3%
- ROE · FY26
- -0.2%
- ROE, 3-year average
- 1.5%
- Operating margin · FY26
- 55.7%peers -49.8%
- Sales growth, 3 years
- -17.3%
- Profit growth, 3 years
- -109.7%
- Debt to equity
- 0.96
- Borrowings
- ₹178 cr
- Interest cover
- 1.0×
- Cash from business / op. profit
- 436%
- Debtor days
- 155
- Pledged
- 0.00%
- Promoter holding
- 67.86%
- Change in promoter holding
- 0.00 pts
- Shareholders
- 2,307
- 52-week high / low
- ₹79 / ₹39
- Dividend yield
- 0.00%
- Face value
- ₹10
Tap or hover on any figure for what it means. Our arithmetic on reported figures, at the latest close.
newboard is reading this company's filings. Its plain description, key points, management and study will appear here soon; the figures below are worked out from what it has filed.
Waa Solar share price chart
Close on 6 Nov 2026 · +0.36% on the day · Vol 4,800
Daily prices to 6 Nov 2026, adjusted for splits and bonuses. Closing prices only: check the exchange for the live price.
Share price returns
To the close of 6 Nov 2026
- 1 month
- -5.7%
- 3 months
- -5.2%
- 6 months
- -35.2%
- 1 year
- -34.2%
- Traded a day, 20 days
- ₹0.02 cr
Business growth
Sales and net profit, from the reported results
| Sales | Profit | |
|---|---|---|
| FY26 on FY25 | -2% | -110% |
| 3 years, a year | -17% | - |
| Latest half, H2 FY26 | +37% | -109% |
Waa Solar revenue and profit growth
Half-yearly results · Profit and lossSales have fallen. Last year profit grew more slowly than sales, so the profit kept from each rupee of sales slipped.
SME companies report every six months. In the latest half, sales were higher than in the same half a year before. Profit grew more slowly than sales, so each rupee of sales left a little less profit.
Waa Solar half-yearly results
SME companies report every six months · ₹ crore
| H1FY23 | H2FY23 | H1FY24 | H2FY24 | H1FY25 | H2FY25 | H1FY26 | H2FY26 | |
|---|---|---|---|---|---|---|---|---|
| Sales | 25.68 | 23.36 | 23.65 | 3.04 | 14.38 | 13.86 | 8.81 | 18.96 |
| Expenses | 9.18 | 4.43 | 6.63 | 1.34 | 9.69 | 7.05 | 2.45 | 9.83 |
| Operating profit | 16.50 | 18.93 | 17.01 | 1.71 | 4.69 | 6.81 | 6.36 | 9.13 |
| OPM | 64.3% | 81.0% | 72.0% | 56.0% | 32.6% | 49.1% | 72.2% | 48.1% |
| Interest | 5.12 | 4.93 | 4.28 | 0.27 | 2.24 | 2.86 | 4.81 | 6.31 |
| Depreciation | 7.96 | 8 | 7.98 | 1 | 4.50 | 0.58 | 3 | 3.87 |
| Profit before tax | 3.69 | 6.38 | 5.20 | 0.66 | -1.43 | 5.37 | 0.09 | 0.11 |
| Net profit | 2.97 | 5.36 | 4.36 | 0.18 | -1.43 | 5.33 | 0.08 | -0.46 |
Waa Solar profit and loss
Full years to March, FY15 to FY26 · ₹ crore, consolidated where reported
| FY15 | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 65.97 | 63.59 | 51.67 | 50.78 | 79.34 | 47.88 | 43.84 | 45.72 | 49.04 | 26.69 | 28.25 | 27.77 |
| Expenses | 20.34 | 21.81 | 7.95 | 9.07 | 18.82 | 18.83 | 7.21 | 10.51 | 13.60 | 8.51 | 17.89 | 12.29 |
| Operating profit | 45.63 | 41.78 | 43.72 | 41.71 | 60.52 | 29.05 | 36.63 | 35.21 | 35.44 | 18.18 | 10.35 | 15.48 |
| OPM | 69.2% | 65.7% | 84.6% | 82.1% | 76.3% | 60.7% | 83.5% | 77.0% | 72.7% | 68.1% | 36.6% | 55.7% |
| Other income | 0.60 | 1.06 | 0.73 | 2.63 | 5.79 | 21.33 | 1.25 | 1.06 | 0.65 | 0.66 | 2.60 | 2.71 |
| Interest | 19.90 | 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 |
| Profit before tax | 11.48 | 6.20 | -1.01 | 4.87 | 6.86 | 12.51 | 6.52 | 8.32 | 10.07 | 5.85 | 3.94 | 0.20 |
| Tax rate | 1.1% | 1.3% | 19.8% | 19.5% | 44.8% | 10.1% | 34.0% | 7.1% | 17.6% | 22.4% | 1.0% | 292.0% |
| Net profit | 11.35 | 6.12 | -1.21 | 3.92 | 3.79 | 11.25 | 4.30 | 7.73 | 8.30 | 4.54 | 3.90 | -0.38 |
| EPS ₹ | 283.75 | 120.60 | -26.60 | 3.79 | 3.14 | 8.36 | 3.05 | 5.47 | 7.42 | 5 | 5.26 | 0.49 |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
A tax rate above 60% or below zero (FY26) comes from tax charged on a small or negative profit, as reported.
Earnings per share before FY18 is on the share count of that time, before later bonus or share issues, so it does not compare with the years after.
Waa Solar profitability
Margins and returns on capitalLast year the company kept more from each rupee of sales than the year before. It earns a low return on the money it uses.
Operating margin, every year
Per cent of sales kept before interest, depreciation and tax
| FY15 | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating margin | 69.2% | 65.7% | 84.6% | 82.1% | 76.3% | 60.7% | 83.5% | 77.0% | 72.7% | 68.1% | 36.6% | 55.7% |
| Tax rate | 1.1% | 1.3% | 19.8% | 19.5% | 44.8% | 10.1% | 34.0% | 7.1% | 17.6% | 22.4% | 1.0% | 292.0% |
| ROCE | · | 7.7% | 7.8% | 9.7% | 9.7% | 8.9% | 7.0% | 6.9% | 7.2% | 3.9% | 3.2% | 3.3% |
| ROE | · | 6.4% | -1.4% | 4.3% | 2.8% | 7.2% | 2.6% | 4.6% | 4.7% | 2.5% | 2.1% | -0.2% |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Waa Solar debt and cash flow
Balance sheet · Cash flow · Working capitalThe company's own money, its net worth, has shrunk. Its loans are smaller than its own money. Last year the business brought in more cash than it showed as profit. It spent more on assets and investments than the business brought in, and raised the rest from loans or shares. Customers pay faster than they did in FY24, which frees up the company's money.
Bars below the line are cash going out.
Waa Solar balance sheet
At each 31 March · ₹ crore
| FY15 | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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 | 108.75 | 63.74 | 112.62 | 142.25 | 154.93 | 158.20 | 158.83 | 166.94 | 168.89 | 173.78 | 171.36 |
| Net worth | 81.46 | 109.02 | 64.01 | 117.50 | 148.88 | 161.56 | 164.83 | 172.10 | 180.21 | 182.16 | 187.05 | 184.63 |
| Borrowings | 329.43 | 179.08 | 173.06 | 187.70 | 234.89 | 149.23 | 134.89 | 114.92 | 93.50 | 50.82 | 142.25 | 178.12 |
| Other liabilities | 35.92 | 10.07 | 12.40 | 14.88 | 76.73 | 30.88 | 22.13 | 23.27 | 24.79 | 1.60 | 3.98 | 49.25 |
| Total liabilities | 446.81 | 298.17 | 249.47 | 320.08 | 460.50 | 341.67 | 321.85 | 310.29 | 298.50 | 234.58 | 333.28 | 412 |
| Fixed assets | 396.31 | 257.45 | 190.93 | 225.81 | 204.14 | 104.21 | 138.22 | 122.09 | 106.60 | 44.40 | 98.45 | 181.30 |
| Capital work in progress | 0 | 0 | 3.53 | 0.51 | 71.14 | 45.88 | 0 | 0 | 0 | 0.27 | 21.40 | 19.90 |
| Investments | 0.70 | 25.81 | 36.45 | 42.75 | 80.99 | 76.72 | 82.15 | 87.43 | 87.82 | 97.22 | 97.02 | 96.68 |
| Other assets | 49.80 | 14.91 | 18.56 | 51.01 | 104.23 | 114.86 | 101.48 | 100.77 | 104.08 | 92.69 | 116.41 | 114.12 |
Waa Solar cash flow
₹ crore
| FY15 | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | 47.36 | 52.30 | 42.40 | 40.35 | 106.26 | 24.57 | 33.96 | 31 | 36.86 | 14.97 | -4.55 | 67.45 |
| Cash from investing | -194.44 | 98.12 | -18.16 | -33.98 | -132.52 | 75.69 | -18.28 | 1.41 | -1.29 | 51.44 | -62.95 | -87.34 |
| Cash from financing | 124.44 | -150.75 | -24.20 | -5.58 | 62.55 | -105.83 | -38.52 | -31.15 | -30.92 | -66.94 | 86.34 | 24.75 |
| Net cash flow | -22.64 | -0.33 | 0.04 | 0.79 | 36.29 | -5.57 | -22.84 | 1.26 | 4.65 | -0.53 | 18.84 | 4.86 |
Working capital
Days
| FY15 | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor days | 13 | 12 | 14 | 45 | 15 | 82 | 90 | 106 | 91 | 208 | 215 | 155 |
| Inventory days | · | · | · | · | · | · | · | · | · | 576 | 0 | 25 |
| Days payable | · | · | · | · | · | · | · | · | · | 369 | · | 3,412 |
| Cash conversion cycle | 13 | 12 | 14 | 45 | 15 | 82 | 90 | 106 | 91 | 414 | 215 | -3,232 |
| Working capital days | 122 | 53 | -93 | 160 | -22 | 409 | 521 | 480 | 434 | 924 | 697 | 6 |
Waa Solar peers and competitors
Listed SME companies in the same industryBy sales, Waa Solar is number 1 of the 2 listed SME companies in power.
Each company's latest full year and its latest close; companies the exchange puts in the same industry, whose businesses can differ a good deal. A list, not a comparison of their shares.
| Company | Market cap ₹ cr | P/E | Sales ₹ cr | Profit ₹ cr | Op. margin | Debt/equity |
|---|---|---|---|---|---|---|
| Waa Solar | 55 | - | 27.8 | -0.4 | 55.7% | 0.96 |
| Waaree Technologies | 207 | - | 7.1 | -4.2 | -49.8% | - |
| Median of the 1 others | 207 | - | 7.1 | -4.2 | -49.8% | - |
Waa Solar shareholding pattern
Promoters, FIIs, DIIs, HNIs and small holdersThe promoters own more than half the company, a little less than in the first filing shown. Big foreign and Indian funds own very little. The number of shareholders has grown a lot.
Waa Solar shareholding pattern
Per cent of shares, from the patterns filed with the exchange. Tap + to see everyone holding 1% or more in that group. HNIs and small holders show only where the pattern was filed in full.
| Sep 22 | Mar 23 | Sep 23 | Mar 24 | Sep 24 | Mar 25 | Sep 25 | Mar 26 | |
|---|---|---|---|---|---|---|---|---|
| Promoters | 69.81% | 69.81% | 69.75% | 68.46% | 67.85% | 67.86% | 67.86% | 67.86% |
| Number of shareholders | 1,087 | 1,060 | 1,098 | 1,469 | 2,278 | 2,367 | 2,412 | 2,307 |
Waa Solar latest news and announcements
Announcements · Documents · Corporate actionsWhat changed recently
Each half-year is set against the same half a year earlier
- H2 FY26: sales ₹19 cr (+37%), net profit -₹0.5 cr (-109%) on H2 FY25.
- Shareholding, 31 March 2026: promoters unchanged at 67.86%.
Waa Solar announcements
4 on record, latest first; each opens the filing on the exchange
- Company UpdateCompliance Certificate for the Quarter ended on September 30, 2016, pursuant to Regulation 74(5) of the SEBI (DP) Regulations, 2018PDF ↗
- AGM/EGMPursuant to Regulation 44 of the SEBI (LODR) Regulations, 2015, Submission of the Voting Results and Scrutinizer''s Report for the 17th AGM of the Company, heldPDF ↗
- AGM/EGMIntimation of Proceedings of the Annual General Meeting (AGM) of the Company held today i.e., on Wednesday, September 30, 2026PDF ↗
- AGM/EGMIntimation of Outcome of the Annual General Meeting (AGM) held today i.e., on Wednesday, September 30, 2026PDF ↗
Waa Solar annual reports, earnings calls and documents
Every document links to its source; “read” marks those this page is built from
Waa Solar share split, bonus and dividends
From the corporate actions the company announces on the exchange
No share split, bonus issue or dividend is on record since listing.
Checks we ran on Waa Solar's data · 8
Before any number shows, it goes through the same checks. A figure that fails is held back, never shown as if it were right.
- ✓Balance sheet totals add up for FY25 and FY26.
- ✓Market cap uses the share count in the latest shareholding pattern (1,32,66,764 shares).
- ✓The share capital in the FY26 results matches the share count in the shareholding pattern.
- ✓Promoter and public holdings add up to 100% in every shareholding pattern shown.
- ✓The two half-years of FY26 add up to the full-year sales.
- !Earnings per share changes basis between FY16 (₹120.60) and FY18 (₹3.79) because the share count behind it changes; EPS is shown as reported, and growth is worked out on profit.
- ✓Revenue and profit are reported for every year shown, FY15 to FY26.
- iPrices run to the close on 14 Oct 2026, from the exchange's daily figures.
Questions people ask about Waa Solar
What does Waa Solar do?
Waa Solar is an SME company listed on BSE SME, in power.
What is the share price of Waa Solar?
₹41.5 at the close on 6 Nov 2026, from the exchange's daily figures.
What is the market cap of Waa Solar?
₹55 cr at the close on 6 Nov 2026, on 1,32,66,764 shares.
What are Waa Solar's revenue and profit?
Revenue ₹28 cr and profit after tax -₹0 cr in FY26.
Who are the promoters of Waa Solar?
The promoter group; promoters held 67.86% at 31 March 2026.
What is Waa Solar's website?
www.waasolar.org
More SME companies like Waa Solar
Other listed SME companies in power, the closest in size first, each read from its own documents.
Built from 4 exchange announcements, 8 shareholding patterns and 12 years of reported results. Every figure carries its source; where the documents are silent, the page says so.