Waa Solar Limited (WAA) Fair Value & Analysis
Utilities · IN · Market cap ₹650M
Fair value as of: Jul 6, 2026
From 14 valuation models · updated today
Share price −7.8% over the past month.
Price vs Fair Value (12 months)
12‑month range ₹42.82 – ₹77.60 · fair‑value band ₹15.01 – ₹27.87 · the ₹49.00 price screens above the ₹21.44 fair value. As of Jul 6, 2026.
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Waa Solar Limited (WAA) currently trades at ₹49.00, while our model-based Fair Value estimate is ₹21.44 — implying the stock looks roughly 56.2% overvalued today. We read business quality at 29/100 (below-average quality), in the Utilities sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium — the entry price still matters most (evidence: medium).
Over the trailing twelve months, Waa Solar Limited generated revenue of ₹278M at a net margin of 2.3%. Revenue grew 31.0% year over year. It earns a return on equity of 0.4%. Net debt stands at ₹1.4B. Fundamentals as of Jul 6, 2026
Our scenario range runs from ₹15.01 (bear case) to ₹27.87 (bull case); at ₹49.00, the current price sits above that range. The share trades about 40% below its 52-week high and 20% above its 52-week low, currently below its 200-day average. For context, the median of 10 Utilities peers we cover trades at -28% fair-value upside — at -56%, WAA screens richer than that median.
Key figures & financial health
More key figures
Figures from reported company fundamentals (EODHD) · as of Jul 6, 2026. TTM = trailing twelve months.
About the company
Waa Solar Limited, together with its subsidiaries, engages in electric power generation and transmission primarily in India. The company generates electricity through solar plant. It develops and operates a 10.25 MW solar power plant at Surendranagar, Gujarat; 100 KWP solar power plant at Raja Bhoj airport in Bhopal; and a 10.42 MW solar power project in Koppal, Karnataka. In addition, the company operates solar power projects of 4.00 MW in Punjab and Gujarat. Waa Solar Limited was incorporated in 2009 and is based in Vadodara, India. Waa Solar Limited operates as a subsidiary of Madhav Power Pvt. Ltd.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Waa Solar Limited reported revenue of ₹278M in FY2025 versus ₹131M in FY2021, a compound +20.6%/yr. Reported net income was ₹6.5M in FY2025, compounding +36.5%/yr from FY2021.
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How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data — nothing guessed.
Not financial advice · no buy/sell recommendation. Model-based estimates are not certainties; their reliability depends on data quality and assumptions.