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Waaree Energies Limited Fundamentals

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Market Cap

94,467.33 Cr.

Face value

10.00

Book value

329.96

Div. yield

0.000

P/E ratio

50.59

P/B ratio

9.97

Debt/Eq.

0.21

Market Cap

94,467.33 Cr.

Face value

10.00

Book value

329.96

Div. yield

0.00%

P/E ratio

50.59

P/B ratio

9.97

Debt/Eq.

0.21
About Waaree Energies Limited
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Waaree Energies Limited was originally incorporated as ‘Anmol Fluid Connectors Private Limited’ at Mumbai, Maharashtra as a private limited company under the Companies Act, 1956, pursuant to a certificate of incorporation dated December 18, 1990, iss Read more ▾

IndustryElectric Equipment
SectorCapital Goods
Top subsidiaries
Waaree Renewable Technologies Ltd.Indosolar Ltd.Waaree Green Aluminium Pvt Ltd.Sangam Solar One Pvt Ltd.Sangam Solar Two Pvt Ltd.Waaree Clean Energy Solutions Pvt Ltd.Sangam Solar Four Pvt Ltd.Waaree Power Pvt Ltd.Rasila International Pte Ltd.Waaree Solar Americas IncWaaneep Solar One Pvt Ltd.
MANAGEMENT
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Whole Time DirectorViren Doshi
Managing DirectorHitesh Chimanlal Doshi
Whole Time DirectorHitesh Mehta
Non Independent & Non Executive DirectorBinita Doshi
Non Executive Independent DirectorSamir Shah
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Whole Time DirectorViren Doshi
Managing DirectorHitesh Chimanlal Doshi
Whole Time DirectorHitesh Mehta
Non Independent & Non Executive DirectorBinita Doshi
Non Executive Independent DirectorSamir Shah
Non Executive Independent DirectorJayesh Shah
Additional DirectorRajendra Mohan Malla
Company SecretaryKiran Jain
Non Independent & Non Executive DirectorModesto Volpe
Whole Time DirectorViren Chimanlal Doshi
Whole Time DirectorHitesh Pranjivan Mehta
Independent DirectorRajender Mohan Malla
Non Executive Independent DirectorSujit Kumar Varma
Non Executive Independent DirectorJayesh Shah
Non Executive DirectorModesto Volpe
Company SecretaryKiran Jain
Managing DirectorHitesh Doshi
Chairman & Managing DirectorHitesh Doshi
Company Secretary & Compliance OfficerRajesh Gaur
Non Executive Independent DirectorSujit Varma
Whole Time DirectorViren Doshi
Whole Time Director & Chief Financial OfficerHitesh Mehta
Independent DirectorRajinder Singh Loona
Whole Time DirectorAmit Ashok Paithankar
Non Executive Independent DirectorRajender Malla
Non Executive Independent DirectorRicha Goyal
Whole Time Director & Chief Financial OfficerHitesh Pranjivan Mehta
Non Executive Independent DirectorSujit Kumar Varma
Non Executive Independent DirectorRajender Mohan Malla
Non Executive Independent DirectorJayesh Dhirajlal Shah
Non Executive Independent DirectorRicha Goyal
Whole Time DirectorViren Doshi
Chairman & Managing DirectorHitesh Chimanlal Doshi
Chairman & Managing DirectorHitesh Chimanlal Doshi
Non Executive DirectorArvind Ananthanarayanan
Other detail of Waaree Energies Limited
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location
Address602, 6th Floor, Western Edge - I Western Express Highway Borivali (East) ,Mumbai ,Maharashtra-400066.
phone
Telephone022-66444444
email
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MORE DETAILS
NSE Code25907
NSE SymbolWAAREEENER
SeriesEQ
ISININE377N01017
Waaree Energies Limited was originally incorporated as ‘Anmol Fluid Connectors Private Limited’ at Mumbai, Maharashtra as a private limited company under the Companies Act, 1956, pursuant to a certificate of incorporation dated December 18, 1990, issued by the RoC. The name of the company was changed to ‘Waaree Solar Private Limited’, pursuant to a fresh certificate of incorporation issued by the RoC on April 25, 2007. The name of the company was further changed to ‘Waaree Energies Priave Limited’, pursuant to a fresh certificate of incorporation issued by the RoC on October 15, 2007. The name of the company was further changed to ‘Waaree Energies Private Limited’, pursuant to a fresh certificate of incorporation issued by the RoC on December 12, 2007. Thereafter, the company was converted into a public limited company pursuant to a special resolution passed in the extraordinary general meeting of the Shareholders held on March 8, 2013, and consequently the name of the company was changed to its present name i.e., ‘Waaree Energies Limited’, pursuant to a fresh certificate of incorporation issued by the RoC on May 2, 2013.Waaree Energies is the largest manufacturer of solar Photo-voltaic (PV) modules in India. The company commenced operations in 2007 focusing on solar PV module manufacturing with an aim to provide quality, cost-effective sustainable energy solutions across markets, and aid in reducing carbon foot-print paving the way for sustainable energy thereby improving quality of life. The company’s solar PV modules are manufactured using multicrystalline cell technology, monocrystalline cell technology and emerging technologies such as Tunnel Oxide Passivated Contact (TopCon) which helps reduce energy loss and enhances overall efficiency. Its portfolio of solar energy products consists of the following PV modules: (i) multicrystalline modules; (ii) monocrystalline modules; and (iii) TopCon modules, comprising flexible modules, which includes bifacial modules (Mono PERC) (framed and unframed), and building integrated photo voltaic (BIPV) modules.The company’s solar PV modules warranties are insured by external parties, which require it to maintain high standards for insurance approval. It has received a tier-1 PV module maker rating from the Bloomberg New Energy Finance between Fiscal 2018 and Fiscal 2024. Certain of its laboratories are accredited by the National Accreditation Board for Testing and Calibration Laboratories (NABL) which tests its solar PV modules for quality check. Further, it ensures that its manufacturing facilities are regularly audited by quality audit firms. It is also included under the ALMM list identified by the Government of India, which enables it to participate in various government schemes aimed at developing the solar industry in India. It also manufactures semi-flexible solar panels for sale to global customers through its in-house research and development in product application.Business area of the companyThe company is primarily engaged in the business of manufacture of Solar Photo-voltaic Modules, setting up of Projects in solar space and sale of electricity.Products of the companyPV modulesMulticrystalline modulesMonocrystalline modulesTOPCon modulesAwards, accreditations or recognitions2017: Solar PV EPC Company of the year at the India Solar Week Excellence 2017 awarded by Solar Quarter.2017: Leadership in the category of Solar PV EPC Company of the Year Utility Scale (50 MW -100 MW) at the India Solar Week Excellence Awards 2017 awarded by Solar Quarter.2017: Leadership in the category of Solar Module Company of the Year Utility Scale (Domestic Manufacturer) at the India Solar Week Excellence Awards 2017 awarded by Solar Quarter.2017: Consumer choice award by Solar Quarter in the category of rooftop application, flexible modules (Waaree Merlin Modules).2017: Dun and Bradstreet Everest Industries Limited award for Metro RESCO Solar PV Project.2018: Solar Module Company of the year in solar sector at the CSR Leadership Awards by ET Now.2018: Solar Module Company of the Year (Monocrystalline Technology) Domestic at the Indian Solar PV Module TECH India Awards 2018 awarded by Solar Quarter.2018: Top-30 Evergreen in India for solar rooftop power plant ((i) Indian oil fuel retail outlet, Madhya Pradesh; (ii) Reliance Mumbai Metro; and (iii) Swaminarayan Temple, Gujarat) Awards by SKOCH.2021: Best brand 2021 by the Economic Times.2022: One of the top performers of 2022 in the PV Module Reliability Scorecard2022: Indian module company of year for the state of Maharashtra at the Suryacon Pune Conference.2022: Leading renewable energy manufacturer –solar modules at the Renewable Energy India Awards 2022.2023: Most preferred workplace - manufacturing 2022-23 by Marksmen Network.2023: Best performing domestic modules of the year for the state of Tamil Nadu at the Suryacon Coimbatore Conference 2023.2023: Most preferred solar panel for rooftops in Maharashtra at the Suryacon Pune Conference.2023: Winner of the renewable energy –manufacturer-solarcategory by the Indian Chamber of Commerce 2023.2023: RE brand of the year at the RenewX Awards 2023.2023: Energy Company of the year (Renewables) by the Economic Times at the Energy Leadership Awards 2023.2023: EPC company of the year for largescale projects –platinum category at the Suryacon Coimbatore Conference 2023 to Waaree Renewable Technologies Limited.2024: Long Association Award at Enerparc's vendor association meeting, Bangalore.2024: Recognised in the Renewable Energy Test Center (RETC) 2024 PV Module Index Report.2024: Largest solar PV module manufacturer for achieving 200GW non-fossil power capacity by Ministry of New and Renewable Energy, Government of India.2024: Recognised as tier 1 solar module manufacturer by Bloomberg New Energy Finance.History and milestones2007: Entered the solar energy sector with a 30 MW module manufacturing line.2014: Started a joint venture with North Eastern Electric Power Corporation Limited (NEEPCO) for implementation of solar power project in Sehore, Madhya Pradesh.2017: Acquired 40% shares in Waaneep Solar Private Limited from NEEPCO pursuant to which Waaneep Solar Private Limited became its wholly owned subsidiary2018: Commissioned solar photovoltaic modules plant having capacity of 1,000 MW.2018: Divested Waaneep Solar Private Limited to Hero Solar Energy Private Limited in tranches.2019: Commissioned international EPC project of 49.5 MWp ground mounted Song Giang solar power project in Vietnam2021: Acquired 500 MW Solar Module manufacturing facility to take total installed capacity to 2GW Initiated construction activities for a solar cell manufacturing unit.2023: Increased capacity to 12GW.2023: Selected as a manufacturer under the PLI Scheme for setting up a manufacturing facility of 6GW as a greenfield project.2024: Increased capacity to 13.3GW with commissioning of 1.3 GW of module manufacturing facility at Indosolar Limited’s Noida facility.
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