WAAREE RENEWABLE TECHNOLOGIES LTD (WAAREERTL) fair value: what the stock is really worth
As of Oct 1, 2026: fair value of WAAREE RENEWABLE TECHNOLOGIES LTD ₹791, price ₹809, upside -2.2%, quality 61 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Oct 2, 2026.
How to read this chart
18‑month range ₹782.30 – ₹1,331 · fair‑value band ₹331.26 – ₹1,000 · the ₹808.80 price screens above the ₹791.39 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Oct 2, 2026.
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Waaree Renewable Technologies Limited engages in the generation of power through renewable energy sources in India. The company offers ground mounted solar; capex model; resco opex; rooftop solar; floating solar; and operations and maintenance solutions. It also provides engineering, procurement, and construction (EPC) services.
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Waaree Renewable Technologies Limited engages in the generation of power through renewable energy sources in India. The company offers ground mounted solar; capex model; resco opex; rooftop solar; floating solar; and operations and maintenance solutions. It also provides engineering, procurement, and construction (EPC) services. The company serves the individual, industrial, and commercial sectors. The company was formerly known as Sangam Renewables Limited and changed its name to Waaree Renewable Technologies Limited in July 2021. The company was incorporated in 1999 and is headquartered in Mumbai, India. Waaree Renewable Technologies Limited operates as a subsidiary of Waaree Energies Limited.
Stock analysis
WAAREE RENEWABLE TECHNOLOGIES LTD (WAAREERTL) currently trades at ₹808.80, while our model-based Fair Value estimate is ₹791.39, so the stock looks roughly fairly valued today (gap 2.2%).
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Valuation
Bull case: the Growth Earnings group reads highest at a median of ₹2,100 per share, and 11 of the 26 models we run sit above the ₹808.80 price.
Bear case: the Growth DCF group reads lowest at ₹373.29, and 15 of the 26 models stay below the price. Evidence for this calculation is medium.
Scenario range: ₹331.26 (bear) to ₹1,000 (bull), the price of ₹808.80 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 61/100 (solid quality), in the Industrials sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
WAAREE RENEWABLE TECHNOLOGIES LTD reported revenue of ₹33.3B in FY2026 versus ₹1.6B in FY2022, a compound +113.1%/yr. Reported net income was ₹4.8B in FY2026, compounding +173.1%/yr from FY2022. FY2022 was a trough year, so the rate overstates the trend.
Key figures
Market cap ₹84.4B (≈ $877M) · P/E ratio 16.8 · P/S ratio 2.42 · EPS (TTM) ₹48.04 · Dividend yield 0.2% · Net margin 14.4% · Return on assets (EBIT) 24.5% · Operating margin 18.2%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 52 out of 100 (low confidence).
What moves the price
The share trades about 39% below its 52-week high and 3% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −34% fair-value upside, at −2%, WAAREERTL screens cheaper than that median.
Fair Value models
Bear ₹331.26Fair Value ₹791.39Bull ₹1,000
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2026 figures (about 6 months old). Earnings retained since then (₹24.35 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.81/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+108.5%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+111.8%
’22
’23
’24
’25
’26
Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
12.3% (2022) → 19.0% (2026)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: rate outside our plausibility band
not computed
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+34.2%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (India: IMF forecast 4.1% a year to 2030, 4.7% from 2016 to 2025) that is about +28.8% a year for the price.
Compare WAAREE RENEWABLE TECHNOLOGIES LTD with another stock
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Engineering & Construction · 785 stocks
Beats the industry median on 8/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score58 · Above median
Fair Value upside−3.6% · Above median
Profitability
Return on assets0.0% · Bottom 25%
Net margin (TTM)−34.0% · Bottom 25%
Operating margin (TTM)18.6% · Top 25%
Growth and dividend
Revenue growth131.2% · Top 25%
Dividend yield (TTM)0.2% · Bottom 25%
Balance sheet
Debt / equity0.02× · Below median
Valuation Multiplesvs Engineering & Construction median · lower = cheaper
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Is WAAREE RENEWABLE TECHNOLOGIES LTD (WAAREERTL) overvalued or undervalued?
As of Oct 2, 2026, our model estimates a fair value of ₹791.39 versus a price of ₹808.80, about −2% upside (fairly valued).
What is the fair value of WAAREERTL?
Our model-based fair value for WAAREE RENEWABLE TECHNOLOGIES LTD is ₹791.39 (as of Oct 2, 2026), built from audited fundamentals. The current price: ₹808.80.
What is the quality score of WAAREERTL?
WAAREE RENEWABLE TECHNOLOGIES LTD has a Quality Score of 61/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for WAAREE RENEWABLE TECHNOLOGIES LTD (WAAREERTL)?
Our model-based price target is the fair value of ₹791.39 (as of Oct 2, 2026) from 26 valuation models. Cautious scenario ₹331.26, optimistic scenario ₹1,000. It is a calculation from audited fundamentals, not an analyst target.
What is the WAAREE RENEWABLE TECHNOLOGIES LTD stock forecast for 2026?
Our models put fair value at ₹791.39, about −2% upside versus a price of ₹808.80 (fairly valued). Cautious scenario ₹331.26, optimistic scenario ₹1,000. The calculation is refreshed regularly with new filings.
What is the revenue of WAAREE RENEWABLE TECHNOLOGIES LTD (WAAREERTL)?
WAAREE RENEWABLE TECHNOLOGIES LTD reported trailing-twelve-month revenue of about ₹36.5B (latest available figure, as of Oct 2, 2026).
Does WAAREE RENEWABLE TECHNOLOGIES LTD pay a dividend?
WAAREE RENEWABLE TECHNOLOGIES LTD currently shows a dividend yield of about 0.20% relative to its recent price (as of Oct 2, 2026).
What growth is priced into WAAREE RENEWABLE TECHNOLOGIES LTD (WAAREERTL)?
For today's price to be fair in a discounted-cash-flow model, WAAREE RENEWABLE TECHNOLOGIES LTD would have to grow free cash flow by +34.2 % per year for five years (discount rate 12.4 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 4 years revenue grew +113.1 % per year. As of Oct 2, 2026.
What discount rate (WACC) does the fair value of WAAREERTL use?
Our models discount WAAREE RENEWABLE TECHNOLOGIES LTD at 12.4 %: a base by market capitalisation (small), damped by beta 0.48, country premium for India. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For WAAREE RENEWABLE TECHNOLOGIES LTD that is +34.2 % per year a year over ten years, using the same discount rate (12.4 %) and the same formula as our fair value.
How much growth has WAAREE RENEWABLE TECHNOLOGIES LTD (WAAREERTL) delivered so far?
Over the past 4 years revenue at WAAREE RENEWABLE TECHNOLOGIES LTD grew +113.1 % a year. The price currently implies +34.2 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of WAAREE RENEWABLE TECHNOLOGIES LTD (WAAREERTL) growing?
The median revenue growth in the sector is +6.3 % a year. That is the yardstick for the growth priced into WAAREE RENEWABLE TECHNOLOGIES LTD (+34.2 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of WAAREE RENEWABLE TECHNOLOGIES LTD (WAAREERTL)?
The free-cash-flow yield on the price is 1.95 %: that much free cash flow WAAREE RENEWABLE TECHNOLOGIES LTD produces per unit of market value. When it exceeds the discount rate of our models (12.4 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of WAAREE RENEWABLE TECHNOLOGIES LTD (WAAREERTL)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For WAAREE RENEWABLE TECHNOLOGIES LTD it is ₹791.39 per share (as of Oct 2, 2026), against a price of ₹808.80. It is the blended result of 26 valuation models (cash flow, earnings, asset, dividend).
Is WAAREE RENEWABLE TECHNOLOGIES LTD stock overvalued or undervalued in 2026?
As of Oct 2, 2026, WAAREERTL trades above its calculated fair value: price ₹808.80, fair value ₹791.39, a gap of about −2% (fairly valued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of WAAREERTL?
No. The price is what the market pays today (₹808.80); the fair value is what the company's own numbers justify (₹791.39). For WAAREE RENEWABLE TECHNOLOGIES LTD the two are ₹17.41 per share apart. That gap is exactly why we show both numbers side by side.
How much is WAAREE RENEWABLE TECHNOLOGIES LTD worth?
The market values WAAREE RENEWABLE TECHNOLOGIES LTD at about ₹84.4B (market capitalisation, as of Oct 2, 2026). Per share that is ₹808.80; our models calculate a fair value of ₹791.39 per share.
What do the bullish and bearish scenarios say about WAAREERTL?
Our models span a range for WAAREE RENEWABLE TECHNOLOGIES LTD: cautious scenario ₹331.26, base ₹791.39, optimistic ₹1,000 per share (as of Oct 2, 2026, price ₹808.80). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of WAAREERTL?
WAAREE RENEWABLE TECHNOLOGIES LTD trades at a price-to-earnings ratio of 16.8 (as of Oct 2, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ₹791.39 is built from several models across several years. Other multiples: P/B 0.1, P/S 13.3, EV/EBITDA 12.4.
How solid is the balance sheet of WAAREE RENEWABLE TECHNOLOGIES LTD (WAAREERTL)?
Balance-sheet figures for WAAREE RENEWABLE TECHNOLOGIES LTD (as of Oct 2, 2026): debt of 0.02 per unit of equity. They feed the Quality Score of 61/100, which measures business quality independently of the share price.
How far is WAAREERTL from its 52-week high?
WAAREE RENEWABLE TECHNOLOGIES LTD trades at ₹808.80, about 39% below its 52-week high of ₹1,331 and 3% above the low of ₹782.30 (as of Oct 1, 2026). Distance from the high says nothing about value: that is what the fair value of ₹791.39 is for.
Which stocks are comparable to WAAREE RENEWABLE TECHNOLOGIES LTD?
From the same area (Industrials) we also value Quanta Services, Inc, Vinci SA, Comfort Systems USA, Inc, Larsen & Toubro Limited, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is WAAREE RENEWABLE TECHNOLOGIES LTD stock attractive at the current price?
The data as of Oct 2, 2026: price ₹808.80, calculated fair value ₹791.39 (−2%), Quality Score 61/100, from 26 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of WAAREERTL calculated?
We run WAAREE RENEWABLE TECHNOLOGIES LTD through 26 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of ₹791.39, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.5 % above its aggregate fair value. WAAREE RENEWABLE TECHNOLOGIES LTD itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of WAAREE RENEWABLE TECHNOLOGIES LTD (WAAREERTL)?
The closing price on Oct 1, 2026 was ₹808.80. Our model-based fair value is ₹791.39, about −2% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with WAAREE RENEWABLE TECHNOLOGIES LTD right now?
The model range is unusually wide (₹331.26 to ₹1,000). The outcome hinges heavily on assumptions, so read the point estimate with caution. The price sits close to our fair value, market and models broadly agree here, little valuation tension.
Key figures of WAAREE RENEWABLE TECHNOLOGIES LTD
How large is the market capitalisation of WAAREE RENEWABLE TECHNOLOGIES LTD (WAAREERTL)?
The market capitalisation of WAAREE RENEWABLE TECHNOLOGIES LTD is ₹84.4B (≈ $877M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of WAAREE RENEWABLE TECHNOLOGIES LTD (WAAREERTL)?
The price-to-sales ratio of WAAREE RENEWABLE TECHNOLOGIES LTD is 2.42 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of WAAREE RENEWABLE TECHNOLOGIES LTD (WAAREERTL)?
Earnings per share at WAAREE RENEWABLE TECHNOLOGIES LTD are ₹48.04 (price ÷ EPS = P/E 16.8). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of WAAREE RENEWABLE TECHNOLOGIES LTD (WAAREERTL)?
The dividend yield of WAAREE RENEWABLE TECHNOLOGIES LTD is 0.2% (payout 3.3%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of WAAREE RENEWABLE TECHNOLOGIES LTD (WAAREERTL)?
The net margin of WAAREE RENEWABLE TECHNOLOGIES LTD is 14.4% (fiscal year 2026). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the EBIT return on assets of WAAREE RENEWABLE TECHNOLOGIES LTD (WAAREERTL)?
On an EBIT basis the return on assets of WAAREE RENEWABLE TECHNOLOGIES LTD is 24.5% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of WAAREE RENEWABLE TECHNOLOGIES LTD (WAAREERTL)?
The operating margin of WAAREE RENEWABLE TECHNOLOGIES LTD is 18.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at WAAREE RENEWABLE TECHNOLOGIES LTD (WAAREERTL)?
Revenue at WAAREE RENEWABLE TECHNOLOGIES LTD is growing +53.2% versus a year earlier (3y avg +112%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at WAAREE RENEWABLE TECHNOLOGIES LTD (WAAREERTL)?
Earnings per share at WAAREE RENEWABLE TECHNOLOGIES LTD are growing +34.1% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does WAAREE RENEWABLE TECHNOLOGIES LTD (WAAREERTL) carry?
The net debt of WAAREE RENEWABLE TECHNOLOGIES LTD is ₹738M (fiscal year 2026, ≈ 0.4 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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