Waa Solar Limited
BSE: WAA · Power Generation · sector
₹39.99BSE close 2026-10-26
Key numbers
Market cap₹53 cr
Price₹39.99
52w high / low₹79 / ₹39
P/E81.6xSector median 18.7x
P/B0.3xSector median 1.5x
Book value₹129.2
Dividend yield–Sector median 1.39%
ROE0.4%Sector median 4.5%
ROCE6.6%Sector median 6.2%
OPM55.7%Sector median 33.3%
Debt / equity–Sector median 0.90x
EV/EBITDA0.7xSector median 9.8x
Interest cover1.0x
Current ratio1.61x
Sales growth 3y+2.5%Sector median +3.1%
Profit growth 3y-53.6%Sector median +19.3%
PEG–
Last 12 months to Mar 2026, Consolidated. "Sector median" = middle value of 35 companies in Power Generation (P/E median leaves out loss-making companies). Tap ? for what a number means.
Things to know
- Operating profit covered interest 1.0x in the last 12 months.
- Net loss in 1 of the last 3 quarters.
- Other income was 417% of net profit in the last 12 months.
- No dividend in the last 5 financial years.
- Price ₹39.99 on 2026-10-26: -49.2% from the 52-week high, +2.5% from the 52-week low.
Plain facts from the filings, built by the same fixed rules for every company. A line appears only when the data for it is available. Not a view on the stock.
Charts
Weekly close · high ₹156.05 · low ₹39.99
RevenueNet profit
RevenueNet profit
Quarterly results
| ₹ cr | Mar 2025 | Sep 2025 | Mar 2026 |
|---|---|---|---|
| Revenue | 14 | 9 | 19 |
| EBITDA | 6 | 6 | 9 |
| OPM % | 40.8% | 71.9% | 48.3% |
| Other income | 2 | 2 | 1 |
| Net profit | 7 | 2 | -1 |
| EPS (₹) | 5.47 | 1.37 | 0.88 |
Consolidated figures where filed. Latest quarter Mar 2026.
Profit & loss (yearly)
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 | TTM |
|---|---|---|---|---|---|---|
| Revenue | 24 | 26 | 26 | 28 | 28 | 28 |
| EBITDA | 20 | 21 | 18 | 10 | 15 | 15 |
| Net profit | 5 | 6 | 4 | 7 | 1 | 1 |
| EPS (₹) | 3.88 | 4.89 | 3.32 | 5.26 | 0.49 | 0.49 |
| Revenue growth | +9.7% | +1.0% | +8.3% | -1.7% | – | |
| Profit growth | +31.4% | -32.2% | +58.4% | -90.7% | – | |
| Dividend / share (₹) | – | – | – | – | – |
| Compounded growth | 3 years | 5 years | Last 12 months |
|---|---|---|---|
| Sales | +2.5% | – | – |
| Net profit | -53.6% | – | – |
| EPS | -53.6% | – | – |
| Share price | – | -46.9% (2y) | -37.2% |
Balance sheet
| ₹ cr | FY25 | FY26 |
|---|---|---|
| Shareholders' equity | 174 | 171 |
| Cash & equivalents | 38 | 43 |
| Total assets | 333 | 412 |
| Fixed assets | 98 | 181 |
| Investments | 97 | 97 |
| Inventory | 0 | 0 |
Year-end figures from the March annual filing.
Cash flow
| ₹ cr | FY25 | FY26 |
|---|---|---|
| Cash from operations | -5 | 67 |
| Cash from investing | -63 | -87 |
| Cash from financing | 86 | 25 |
| Capex | 79 | 88 |
| Free cash flow | -84 | -21 |
Free cash flow = cash from operations − capex.
Ratios by year
| ₹ cr | FY25 | FY26 |
|---|---|---|
| ROE % | 4.0% | 0.4% |
| ROCE % | 5.2% | 6.6% |
| Inventory days | 0 | 35 |
| Working capital days | 1,189 | 570 |
Peers in Power Generation
| Company | Market cap | P/E | P/B | ROE | ROCE | OPM | Sales 3y | Div yield |
|---|---|---|---|---|---|---|---|---|
| NTPC | ₹2,90,900 cr | 10.5x | 1.4x | 14.3% | 8.7% | 30.9% | +2.1% | 3.01% |
| ADANIGREEN | ₹2,05,875 cr | 113.6x | 9.5x | 9.1% | 7.3% | 86.3% | +18.4% | 0.16% |
| JSWENERGY | ₹82,396 cr | 40.1x | 2.7x | 6.8% | 7.2% | 53.2% | +22.3% | 0.44% |
| NHPC | ₹70,878 cr | 18.7x | 1.7x | 9.4% | 5.0% | 47.4% | +3.1% | 3.33% |
| NTPCGREEN | ₹68,877 cr | 115.1x | 3.6x | 3.2% | 3.6% | 87.1% | – | – |
| NLCINDIA | ₹31,803 cr | 9.6x | 1.5x | 15.7% | 9.0% | 33.3% | +2.7% | 2.31% |
| ACMESOLAR | ₹26,965 cr | 39.0x | 5.3x | 12.6% | 8.6% | 87.6% | – | 0.09% |
| SJVN | ₹19,256 cr | 30.2x | 1.4x | 4.5% | 5.5% | 69.8% | +15.5% | 2.97% |
| CLEANMAX | ₹13,612 cr | 127.6x | 2.9x | 2.0% | 5.4% | 59.2% | – | – |
| WAA | ₹53 cr | 81.6x | 0.3x | 0.4% | 6.6% | 55.7% | +2.5% | – |
Business segments (2026-03-31)
| Segment | Revenue | Share | EBIT | Margin |
|---|---|---|---|---|
| Solar Power Generation | ₹13 cr | 67.1% | ₹1 cr | 5.3% |
| Contract Receipt | ₹6 cr | 32.9% | ₹-1 cr | -9.1% |
| Toll Collection | ₹0 cr | – | ₹0 cr | – |
Documents
Links go to the original files on the exchange website.
About the company
| Sector | Utilities |
| Industry | Power Generation |
| Sub-industry | Power Generation |
| Symbol | WAA |
| BSE code | 541445 |
| ISIN | INE799N01012 |
| Face value | ₹10.0 |
| Incorporated | – |
| Website | – |
| Plants (India / abroad) | – |
Data built 2026-10-24 from BSE company filings (inline XBRL: Integrated Filing - Finance) + BSE results summary for earlier years; price = BSE close 2026-10-26.