Waaree Renewables Share Price Target 2023, 2024, 2025, 2026, 2028, 2030, 2040 and 2050

In this article we are going to talk about Waaree Renewables Share Price Target 2023 to 2050. In this article, we will discuss in detail the company’s fundamental, price history as well as company’s strengths, risks and important news. So that you can easily take the decision to invest in this stock.

What is Waaree Renewables

Waaree Renewables Technologies Ltd (WRTL), a subsidiary of Waaree group, is currently engaged in the business of Solar EPC. It is a leader in the field of renewable energy. Waaree group is currently working rapidly on its solar projects, till now about 10100 solar projects have been successfully installed through which 600+ MW capacity is being operated.The company engages in solar development as well as financing, construction, ownership and operation of solar projects. It provides clean energy to its customers using on-side solar projects and off-side solar farms.

Waaree Renewables The company was established in 1999 and headquartered in Mumbai, it focuses on long-term investments within the commercial and industrial customer segments.

Waaree Renewables Fundamental

Waaree Renewable Technologies Limited is a well-known name in the renewable energy sector with a market cap of ₹24,860 crore. It has taken a huge leap in the last financial year with a sales growth of 255%. Its shares have grown by 1123% in the last one year.

The company has been showing continuous growth for the last five years. The company has earned a profit of Rs 148 crore in this financial year. Which is 155% more than last year.

It features a high ROE of 57.42%, significant profits and sales growth, but its valuation P/E and P/B ratios are high at 167.87 and 220.42 respectively, indicating potential market volatility.

	
Company Name	Waaree Renewable Technologies Ltd.
Sector	Renewables Energy
Established	1999
Website	waareertl.com
Listing At	NSE, BSE
Mkt Cap	24,860 Cr
ROE	57.42%
ROCE	76.19%
52 Week High	3,037.75
52 Week Low	193.00
P/E Ratio (TTM)	167.87
P/B Ratio	220.42
Face Value	2
Book Value Per Share	24.90
EPS (TTM)	14.22
Dividend Yield	0.04%
Net Sales	875.19
Sales Growth	152.27%
Net Profit (Anual)	148.94 Cr
Profit Growth	150.69%

Waaree Renewables Listing date

Waaree Renewables company is listed only on Bombay Stock Exchange (BSE). The company was listed at Rs 2.82 on August 9, 2012, but today on June 5, 2024, the company’s share price has increased to Rs 2267.

Waaree Renewables Share Price History

The company, established in 1999, was listed on India’s BSE market on 9 August 2012. At the time of listing the share price of the company was Rs 2.82 and today (05/06/2024) the share price of the company has increased to Rs 2267.70. In these 12 years, the company’s shares have grown by approximately 80314.89%.

At the beginning of the year, its share price was Rs 438.83, which today has become Rs 2267.70 with a growth of 416.76%. Its shares have grown by 994.67% in the last 1 year. However, its shares have been declining since last one month. Let us see what the price prediction of Waaree Renewables is going to be in the next decades.

Waaree Renewables Share Price Growth Chart

Looking at the share growth chart of Waaree Renewables, it shows that from the time of listing till 2022, the company’s share remained almost constant, but after 2022, there has been a lot of growth in the company’s share. The lowest price of the last 52 weeks has been ₹192.80 and the highest price has been ₹3037.75.

Waaree Renewables Profit/Loss – Last 5 Years Report

Waaree Renewables Income Report

INCOME	Mar 24	Mar 23	Mar 22	Mar 21	Mar 20
	12 mths	12 mths	12 mths	12 mths	12 mths
Revenue From Operations [Gross]	867.36	341.58	153.50	7.60	1.98
Revenue From Operations [Net]	867.36	341.58	153.50	7.60	1.98
Other Operating Revenues	0.00	0.15	0.06	0.00	0.00
Total Operating Revenues	867.36	341.73	153.56	7.60	1.98
Other Income	7.83	5.18	14.35	3.69	3.11
Total Revenue	875.19	346.92	167.91	11.30	5.08

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Waaree Renewables Expenses

Expenses	Mar 24	Mar 23	Mar 22	Mar 21	Mar 20
	12 mths	12 mths	12 mths	12 mths	12 mths
Purchase Of Stock-In Trade	0.00	0.00	5.54	0.00	0.00
Operating And Direct Expenses	0.00	252.96	127.81	4.26	0.00
Changes In Inventories Of FG, WIP And Stock-In Trade	0.00	0.00	0.00	-0.46	0.00
Employee Benefit Expenses	17.30	9.78	5.60	0.66	1.03
Finance Costs	3.86	1.18	1.47	3.62	3.38
Depreciation And Amortisation Expenses	2.58	0.18	0.16	0.16	0.16
Other Expenses	651.16	3.01	1.38	0.39	0.90
Total Expenses	674.90	267.11	141.96	8.63	5.48

Waaree Renewables Profit/Loss

For the financial year 2023-24, the company had generated a revenue of Rs 675.19 crore on which the company had earned a profit of Rs 148.94 crore. In 2020, the company had suffered a loss of Rs 0.19 crore but since then the company’s profit has been increasing year after year.

Profit/Loss	Mar 24	Mar 23	Mar 22	Mar 21	Mar 20
	12 mths	12 mths	12 mths	12 mths	12 mths
Profit/Loss Before Exceptional, ExtraOrdinary Items And Tax	200.29	79.81	25.95	2.66	-0.40
Profit/Loss Before Tax	200.29	79.81	25.95	2.66	-0.40
Profit/Loss After Tax And Before ExtraOrdinary Items	148.94	59.41	20.40	2.34	-0.19
Profit/Loss From Continuing Operations	148.94	59.41	20.40	2.34	-0.19
Profit/Loss For The Period	148.94	59.41	20.40	2.34	-0.19

Waaree Renewables Other Additional Information

EARNINGS PER SHARE	Mar 24	Mar 23	Mar 22	Mar 21	Mar 20
	12 mths	12 mths	12 mths	12 mths	12 mths
Basic EPS (Rs.)	14.30	28.54	9.80	1.13	-0.09
Diluted EPS (Rs.)	14.29	28.44	9.80	1.13	-0.09
DIVIDEND AND DIVIDEND PERCENTAGE
Equity Share Dividend	0.00	1.04	1.04	0.00	0.00
Equity Dividend Rate (%)	50.00	10.00	10.00	0.00	0.00

Waaree Renewables Balance Sheet – Last 5 Years Report:

Equities And Liabilities

SHAREHOLDER’S FUNDS	Mar 24	Mar 23	Mar 22	Mar 21	Mar 20
	12 mths	12 mths	12 mths	12 mths	12 mths
Equity Share Capital	20.83	20.81	20.81	20.81	20.81
Total Share Capital	20.83	20.81	20.81	20.81	20.81
Reserves and Surplus	238.53	90.62	31.40	11.97	9.61
Total Reserves and Surplus	238.53	90.62	31.40	11.97	9.61
Total Shareholders Funds	259.36	111.43	52.21	32.79	30.43
NON-CURRENT LIABILITIES
Long Term Borrowings	0.00	0.00	0.09	45.28	36.67
Deferred Tax Liabilities [Net]	8.16	0.60	0.65	0.72	0.68
Long Term Provisions	0.62	0.31	0.22	0.17	0.05
Total Non-Current Liabilities	8.78	0.91	0.96	46.18	37.40
CURRENT LIABILITIES
Short Term Borrowings	10.00	0.00	0.00	0.00	0.00
Trade Payables	297.51	76.81	57.91	2.74	0.01
Other Current Liabilities	119.92	65.19	20.94	1.55	0.50
Short Term Provisions	0.45	0.10	0.04	0.69	0.04
Total Current Liabilities	427.89	142.10	78.89	4.97	0.56
Total Capital And Liabilities	696.02	254.45	132.06	83.94	68.38

Assets

NON-CURRENT ASSETS	Mar 24	Mar 23	Mar 22	Mar 21	Mar 20
	12 mths	12 mths	12 mths	12 mths	12 mths
Tangible Assets	96.56	9.27	3.15	3.23	3.39
Intangible Assets	0.00	0.00	0.00	0.00	0.01
Capital Work-In-Progress	0.00	80.05	0.00	0.00	0.00
Fixed Assets	96.56	89.32	3.15	3.23	3.40
Non-Current Investments	0.22	0.22	0.22	32.10	32.10
Long Term Loans And Advances	0.00	0.00	0.00	43.00	31.30
Other Non-Current Assets	4.02	0.06	0.01	0.50	0.43
Total Non-Current Assets	100.80	89.60	3.39	78.84	67.22
CURRENT ASSETS
Current Investments	9.00	0.00	0.56	0.00	0.00
Inventories	29.17	36.52	1.69	0.46	0.00
Trade Receivables	371.65	61.28	45.11	2.36	0.02
Cash And Cash Equivalents	116.82	12.74	38.57	0.53	0.28
Short Term Loans And Advances	45.53	38.86	38.01	0.00	0.00
Other Current Assets	23.04	15.44	4.74	1.75	0.86
Total Current Assets	595.22	164.85	128.67	5.10	1.16
Total Assets	696.02	254.45	132.06	83.94	68.38

Other Additional Information

OTHER ADDITIONAL INFORMATION	Mar 24	Mar 23	Mar 22	Mar 21	Mar 20
	12 mths	12 mths	12 mths	12 mths	12 mths
CONTINGENT LIABILITIES, COMMITMENTS
Contingent Liabilities	0.00	19.30	3.70	0.00	0.00
BONUS DETAILS
Bonus Equity Share Capital	–	3.64	3.64	3.64	3.64
NON-CURRENT INVESTMENTS
Non-Current Investments Quoted Market Value	–	–	–	–	–
Non-Current Investments Unquoted Book Value	–	0.22	0.22	32.10	32.10

Waaree Renewables Quarterly Report

	Mar 24	Dec 23	Sep 23	Jun 23
Sales +	272.94	323.95	149.50	128.80
Expenses +	201.43	236.41	224.21	112.84
EBITDA	75.16	87.75	27.65	16.17
EBIT	74.32	86.85	26.93	16.04
Net Profit	52.79	65.61	18.58	11.96
Profit Before Tax	71.51	87.54	25.28	15.96
Operating Profit Margin	27.78%	27.23%	18.74%	12.72%
Net Profit Margin	19.51%	20.36%	12.60%	9.42%
Earning Per Share	5.06	31.38	8.89	5.72
Depreciation	1.55	1.67	1.41	0.82
Dividends Per Share	0.00	0.00	0.00	0.00

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Waaree Renewables Share Price Target 2023, 2024, 2025, 2026, 2028, 2030, 2040 and 2050

Waaree Renewables Share Price Target 2023

Month	Minimum Target (₹)	Maximum Target (₹)
January	100	105
February	102	115
March	120	135
April	155	170
May	165	175
June	175	215
July	230	260
August	250	270
September	242	252
October	252	265
November	277	290
December	290	380

Waaree Renewables Share Price Target 2024

Month	Minimum Target (₹)	Maximum Target (₹)
January	400	730
February	800	1080
March	1100	1380
April	1480	2400
May	2388	2424
June	2410	2420
July	2430	2500
August	2460	2480
September	2475	2505
October	2490	2520
November	2500	2515
December	2510	2530

Waaree Renewables Share Price Target 2025

Month	Minimum Target (₹)	Maximum Target (₹)
January	2520	2538
February	2535	2545
March	2540	2557
April	2550	2580
May	2545	2575
June	2570	2596
July	2590	2604
August	2598	2610
September	2600	2624
October	2604	2620
November	2615	2640
December	2635	2670

Waaree Renewables Share Price Target 2026

Month	Minimum Target (₹)	Maximum Target (₹)
January	2650	2675
February	2640	2660
March	2648	2668
April	2650	2670
May	2665	2696
June	2680	2704
July	2695	2720
August	2706	2740
September	2720	2745
October	2733	2755
November	2745	2760
December	2750	2780

Waaree Renewables Share Price Target 2028

Month	Minimum Target (₹)	Maximum Target (₹)
January	3015	3026
February	3022	3042
March	3025	3055
April	3000	3018
May	3015	3060
June	3050	3102
July	3055	3095
August	3078	3122
September	3100	3154
October	3104	3165
November	3116	3155
December	3150	3204

Waaree Renewables share prediction: expert opinion

Waaree Renewables Share Price Target 2030

Month	Minimum Target (₹)	Maximum Target (₹)
January	3354	3388
February	3380	3395
March	3390	3435
April	3400	3445
May	3380	3404
June	3402	3418
July	3415	3480
August	3450	3495
September	3435	3480
October	3470	3552
November	3502	3568
December	3520	3598

Waaree Renewables Share Price Target 2040

Month	Minimum Target (₹)	Maximum Target (₹)
January	3844	3888
February	3850	3898
March	3820	3865
April	3848	3898
May	3850	3926
June	3878	3938
July	3898	3930
August	3902	3955
September	3900	3988
October	3956	4022
November	3968	4030
December	3988	4058

Waaree Renewables Share Price Target 2050

Month	Minimum Target (₹)	Maximum Target (₹)
January	4425	4486
February	4447	4498
March	4450	4482
April	4480	4540
May	4456	4502
June	4500	4555
July	4550	4588
August	4580	4598
September	4590	4640
October	4604	4655
November	4650	4680
December	4670	4708

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How to Buy Waaree Renewables

To buy or sell shares of any company listed in the Indian market (NSE and BSE), the investor will have to open a demat account. Demat account should be registered by SEBI so that no fraud of any kind can happen to the investor. Some demat accounts are listed below –

• Zerodha
• Groww
• Angel One
• Upstox

Shareholding Pattern of Waaree Renewables

Promoter	74.51%
Other Domestic Institutions	0.01%
Retail and Others	25.33%
Foreign Institutions	0.20%
Total	100.00

Latest News

1. Waaree Renewables received a 300 MW solar project contract worth Rs 1401 crore from North Eastern Electric Power Corporation, including engineering, procurement, construction, and three years of maintenance.

2. Waaree Renewable’s stock rose 5% to ₹4,650 after winning a ₹990.60 crore contract for a 980 MWp solar plant, raising its pending projects to 2.141 GW.

3. The BSE and NSE have placed Waaree Renewable Tech under the long-term ASM (Additional Surveillance Measure) framework due to high price volatility. Immediate support for the stock is at Rs 2,000, with major support at Rs 1,640. Ravi Singh from Religare Broking believes the stock remains strong with a near-term target of Rs 2,150 and a stop loss at Rs 2,000. Shiju Koothupalakkal from Prabhudas Lilladher noted the stock’s recent surge and overbought indicators.

4. The quarterly net profit report of Waaree Renewables Company was displayed in March 2024, according to which the net profit of the company is Rs 52.79 crore. This profit is 237.55% more than the company’s profit of Rs 15.64 crore in March 2023.

Strengths

• Strong profit growth: The company’s profit has been growing for the last 3 years. Which reflects the company’s strong financial position and effective cost management.
• High ROE and ROCE: Both return on equity (57.42%) and return on capital employed (76.19%) are quite high, indicating efficient utilization of shareholders’ funds and capital.
• Improvement in Balance Sheet: The reserves and surplus of the company have increased significantly over the years, indicating the financial stability of the company.
• Low debt levels: The long-term borrowings of the company are minimal, thereby reducing financial risk.
• The coming time is going to be for renewable energy, we may see a boom in its shares in future also.

Risks

• BSE and NSE put Waaree Renewable under long-term ASM (Additional Surveillance Measure) due to high volatility.
• High Valuation Ratio: P/E ratio of 167.87 and P/B ratio of 220.42 shows that the stock is highly valued but can create volatility in the market.
• Dividend Yield: The dividend yield of 0.04% is low for investors, making it less attractive.
• FIIs and DIIs share percentage of the company is 0.20% and 0.01% respectively, which may be a matter of concern for investors.
• The decline in FIIs and DIIs could be due to a company’s disappointing performance or lack of confidence in its future growth potential.
• The P/E ratio of the company is quite high which could mean that its stock is overvalued.

Waaree Renewables Points to Consider Before Investing

1. Fundamental and technical analysis: Before investing in any company, it is very important to do fundamental as well as technical analysis of the company.

2. Current Liabilities: A significant increase in current liabilities, especially trade payables and other current liabilities, may indicate potential liquidity risks.

3. Concentration of assets: A large portion of the company’s current assets are in trade receivables, which may pose a risk if collections are delayed or bad debts increase.

4. Sector Volatility: The renewable sector is subject to policy changes, regulatory risks and market volatility which may impact the company’s performance.

5. Before investing, keep in mind that the company’s ASSETS should always be 1.5 to 2 times more than the company’s LIABILITIES.

6. Governments in India as well as around the world are emphasizing on renewable energy.

Competitors of Waaree Renewables

• GMR Airports Infra.
• RITES
• Power Mech Projects
• L&T
• Sterling
• HFCL Ltd
• Techno Electric

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Conclusion

Over the years, Waaree Renewable Technologies Limited has demonstrated strong financial position with consistent growth in revenues and profits. High ROE and ROCE indicate that the company is giving high returns on its capital. However, the high P/E ratio and rising current liabilities also present potential risks. The rapid growth in the renewable energy sector ensures growth for the company, but also brings with it inherent risks associated with sector volatility and regulatory changes. Overall, Waaree Renewable Technologies Ltd. stock stands out with promising growth prospects.

Disclaimer – Please note that we are not SEBI-registered advisors. Our post is for educational purposes only. Therefore, before investing in any share, take advice from a SEBI certified expert. If you invest, you yourself will be responsible for your profit and loss, not us.