Waaree Energies Limited (WAAREEENER) - Net Assets

Latest as of March 2026: Rs150.11 Billion INR ≈ $1.62 Billion USD

Based on the latest financial reports, Waaree Energies Limited (WAAREEENER) has net assets worth Rs150.11 Billion INR (≈ $1.62 Billion USD) as of March 2026. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (Rs301.15 Billion ≈ $3.26 Billion USD) and total liabilities (Rs151.04 Billion ≈ $1.63 Billion USD). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Check tangible net worth ratio of Waaree Energies Limited to evaluate the tangible quality of the company's equity base.

Key Net Assets Metrics

Metric	Value
Current Net Assets	Rs150.11 Billion
% of Total Assets	49.84%
Annual Growth Rate	59.5%
5-Year Change	3312.7%
10-Year Change	N/A
Growth Volatility	98.2

Waaree Energies Limited - Net Assets Trend (2017–2026)

This chart illustrates how Waaree Energies Limited's net assets have evolved over time, based on quarterly financial data. See Waaree Energies Limited defensive liquidity buffer to measure how many days the company can operate on defensive assets alone.

Annual Net Assets for Waaree Energies Limited (2017–2026)

The table below shows the annual net assets of Waaree Energies Limited from 2017 to 2026. For live valuation and market cap data, see WAAREEENER market cap overview.

Year	Net Assets	Change
2026-03-31	Rs150.11 Billion ≈ $1.62 Billion	+56.44%
2025-03-31	Rs95.95 Billion ≈ $1.04 Billion	+131.30%
2024-03-31	Rs41.48 Billion ≈ $448.64 Million	+122.81%
2023-03-31	Rs18.62 Billion ≈ $201.35 Million	+323.29%
2022-03-31	Rs4.40 Billion ≈ $47.57 Million	+11.99%
2021-03-31	Rs3.93 Billion ≈ $42.47 Million	+15.34%
2020-03-31	Rs3.41 Billion ≈ $36.82 Million	+32.07%
2019-03-31	Rs2.58 Billion ≈ $27.88 Million	+46.69%
2018-03-31	Rs1.76 Billion ≈ $19.01 Million	-21.79%
2017-03-31	Rs2.25 Billion ≈ $24.30 Million	--

Equity Component Analysis

This analysis shows how different components contribute to Waaree Energies Limited's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.

Equity Composition Insights

Retained earnings have decreased by 0.0% over the analyzed period, potentially due to dividend distributions or operating losses.

Current Equity Component Breakdown (March 2026)

Component	Amount	Percentage
Common Stock	Rs2.88 Billion	1.99%
Other Components	Rs141.50 Billion	98.01%
Total Equity	Rs144.37 Billion	100.00%

Waaree Energies Limited Competitors by Market Cap

The table below lists competitors of Waaree Energies Limited ranked by their market capitalization.

Company	Market Cap
MOWI ASA SP.ADR F:PNDA	$9.54 Billion
Medibank Private Ltd AU:MPL	$9.55 Billion
Novoray Corporation SHG:688300	$9.56 Billion
Oklo Inc. NYSE:OKLO	$9.56 Billion
Tianshui Huatian Technology Co Ltd SHE:002185	$9.54 Billion
Swancor Advanced Materials Co Ltd SHG:688585	$9.52 Billion
Godaddy Inc NYSE:GDDY	$9.51 Billion
Tripod Technology Corp TW:3044	$9.49 Billion

Equity Growth Attribution

This analysis shows how different factors contributed to changes in Waaree Energies Limited's equity between the two most recent reporting periods.

Equity Growth Insights

From 2025 to 2026, total equity changed from 94,792,000,000 to 144,373,400,000, a change of 49,581,400,000 (52.3%).
Net income of 37,113,000,000 contributed positively to equity growth.
Dividend payments of 575,300,000 reduced retained earnings.
New share issuances of 15,404,500,000 increased equity.
Other comprehensive income decreased equity by 744,200,000.
Other factors decreased equity by 1,616,600,000.

Equity Change Factors (2025 to 2026)

Factor	Impact	Contribution
Net Income	Rs37.11 Billion	+25.71%
Dividends Paid	Rs575.30 Million	-0.4%
Share Issuances	Rs15.40 Billion	+10.67%
Other Comprehensive Income	Rs-744.20 Million	-0.52%
Other Changes	Rs-1.62 Billion	-1.12%
Total Change	Rs-	52.31%

Book Value vs Market Value Analysis

This analysis compares Waaree Energies Limited's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.

Valuation Insights

Current price-to-book ratio: 6.12x
The company is trading at a significant premium to its book value, suggesting the market values its earnings potential, brand, or other intangibles highly.
The price-to-book ratio has decreased from 501.65x to 6.12x over the analyzed period, indicating reduced market premium.

Historical Price-to-Book Ratios

Date	Book Value per Share	Market Price	P/B Ratio
2017-03-31	Rs6.11	Rs3065.90	x
2018-03-31	Rs9.39	Rs3065.90	x
2019-03-31	Rs13.08	Rs3065.90	x
2020-03-31	Rs15.16	Rs3065.90	x
2021-03-31	Rs12.27	Rs3065.90	x
2022-03-31	Rs14.89	Rs3065.90	x
2023-03-31	Rs63.99	Rs3065.90	x
2024-03-31	Rs142.29	Rs3065.90	x
2025-03-31	Rs344.98	Rs3065.90	x
2026-03-31	Rs501.20	Rs3065.90	x

Capital Efficiency Dashboard

This dashboard shows how efficiently Waaree Energies Limited utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.

Capital Efficiency Insights

Current Return on Equity (ROE): 25.71%
The company demonstrates strong efficiency in generating profits from shareholder equity.
DuPont Analysis Breakdown:
• Net Profit Margin: 13.99%
• Asset Turnover: 0.88x
• Equity Multiplier: 2.09x
Recent ROE (25.71%) is above the historical average (21.17%), indicating improving capital efficiency.

Historical Capital Efficiency Metrics

Year	Return on Equity	Net Profit Margin	Asset Turnover	Equity Multiplier	Economic Value Added
2017	20.13%	3.02%	0.93x	7.15x	Rs154.72 Million
2018	13.10%	1.70%	1.26x	6.14x	Rs54.58 Million
2019	30.72%	4.98%	2.02x	3.05x	Rs534.34 Million
2020	14.90%	2.23%	2.13x	3.14x	Rs146.37 Million
2021	13.22%	2.40%	1.50x	3.67x	Rs113.36 Million
2022	17.69%	2.66%	1.27x	5.23x	Rs328.74 Million
2023	26.26%	7.15%	0.91x	4.04x	Rs2.99 Billion
2024	30.26%	10.88%	1.01x	2.77x	Rs8.28 Billion
2025	19.70%	12.93%	0.73x	2.08x	Rs9.19 Billion
2026	25.71%	13.99%	0.88x	2.09x	Rs22.68 Billion

Industry Comparison

This section compares Waaree Energies Limited's net assets metrics with peer companies in the Solar industry.

Industry Context

Industry: Solar
Average net assets among peers: $2,580,382,362
Average return on equity (ROE) among peers: 16.24%

Peer Company Comparison

Company	Net Assets	Return on Equity	Debt-to-Equity	Market Cap
Waaree Energies Limited (WAAREEENER)	Rs150.11 Billion	20.13%	1.01x	$9.54 Billion
BOROSIL RENEWABLES LIMITED (BORORENEW)	$6.24 Billion	5.22%	0.06x	$902.98 Million
GENSOL ENGINEERING ORD (BSE) (GENSOL)	$464.90 Million	23.85%	3.47x	$9.85 Million
Premier Energies Limited (PREMIERENE)	$6.60 Billion	35.06%	4.39x	$5.16 Billion
Surana Solar Limited (SURANASOL)	$423.79 Million	7.16%	1.42x	$14.31 Million
Swelect Energy Systems Limited (SWELECTES)	$7.00 Billion	3.09%	0.29x	$104.44 Million
Sterling and Wilson Renewable Energy Limited (SWSOLAR)	$566.15 Million	55.52%	18.05x	$561.00 Million
Urja Global Limited (URJA)	$32.01 Million	0.00%	0.00x	$57.62 Million
Websol Energy System Limited (WEBELSOLAR)	$-681.51 Million	0.00%	0.00x	$475.16 Million

About Waaree Energies Limited

NSE:WAAREEENER India Solar

Market Cap

$9.54 Billion

Rs881.91 Billion INR

Market Cap Rank

#2347 Global

#92 in India

Share Price

Rs3065.90

Change (1 day)

-0.41%

52-Week Range

Rs2419.00 - Rs3739.80

All Time High

Rs3739.80