Waaree Renewables share price target 2024, 2025, 2026, 2027 to 2030

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In this article, we delve into a comprehensive analysis of Waaree Renewables Ltd share price targets for the years 2024, 2025, 2026, 2027, 2030, 2040, and 2050. Our examination spans various perspectives, including financial metrics, fundamental analysis, technical analysis, and more.

After the announcement of the Pardhanmantri Suryodya Yojna in the Interim Budget FY25 on 01 Feb 2024, the government revealed its plan to install rooftop solar panels in 10 million households to enable them to sell surplus solar energy. This initiative is expected to directly benefit solar manufacturing companies, with Waaree Renewables being the largest solar panel manufacturer in the country. In this article, we will conduct an analysis of the company.

Share Price History

Waaree Renewables gave 88% return in one month. It gave almost 715% returns in one year and from its low of ₹14 it has given 28,800% returns.

About

Established in 1989 and headquartered in Mumbai, India, Waaree Renewables Limited holds the distinction of being a leading player in the renewable energy sector. With a robust presence in the market, Waaree boasts India’s largest aggregate installed capacity, currently standing at 12GW as of June 30, 2023. Its manufacturing plants located in Chikhli, Surat, Tumb, and Nandigram in Gujarat contribute significantly to this capacity. Additionally, the company has emerged as a key player in solar module exports for Fiscal 2023, further solidifying its position in the global market.

As of June 30, 2023, Waaree has served a substantial clientele, with a total of 407 customers within India and an additional 20 customers outside the country. This extensive reach underscores the company’s commitment to providing renewable energy solutions both domestically and internationally. Notably, Waaree has supplied over 6GW of solar modules, highlighting its significant contribution to the proliferation of solar energy infrastructure. Furthermore, the company has successfully commissioned more than 1.1GW of solar engineering, procurement, and construction (EPC) projects, further demonstrating its expertise and reliability in delivering comprehensive renewable energy solutions.

Founded 1989
Chairman & MDHitesh Chimanlal Doshi
SectorSolar Panel Manufacturing
HeadquartersMumbai, Maharashtra
Official Websitewaaree.com

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Financial Details

As of February 1st, 2024, Waaree Renewables demonstrates a robust financial standing and performance in the market. With a market capitalization of ₹8,398 crore, the company’s stock is evaluated at a price-to-earnings (P/E) ratio of 79.1, indicating investor confidence in its growth potential.

Additionally, Waaree Renewables boasts an impressive return on capital employed (ROCE) of 83.8% and a remarkable return on equity (ROE) of 95.8%, showcasing its efficient utilization of resources and strong profitability.

The company maintains a healthy balance sheet with a debt-to-equity ratio of 0.34 and a debt amounting to ₹38.7 crore, indicating prudent financial management.

Moreover, with a significant promoter holding of 74.46% and public holding of 25.54%, Waaree Renewables enjoys stable ownership structure.

Its earnings per share (EPS) stand at ₹51.0, reflecting its profitability on a per-share basis. Furthermore, the company has achieved impressive sales growth of 81.5%, underscoring its strong performance and market position in the renewable energy sector.

Market Cap₹ 8,398 CrStock P/E79.1
ROCE83.8 %ROE95.8 %
Debt to equity0.34Debt₹ 38.7 Cr
Promoter Holding74.46%Public Holding25.54%
EPS₹51.0Sales growth 81.5%
as of 01 Feb 2024

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Financial Statement

As of February 1st, 2024, here are the financial particulars for the trailing twelve months (TTM) along with the data for the years 2023, 2022, and 2021:

The net sales for the TTM period amount to ₹665 crore, showing a steady growth trend compared to previous years. In 2023, the net sales stood at ₹351 crore, marking a significant increase from the previous year’s performance. In 2022, the net sales were ₹162 crore, indicating steady growth from the preceding year. Furthermore, in 2021, the net sales were ₹213 crore, reflecting a consistent performance over time.

Regarding expenses, for the TTM period, the company incurred expenses totaling ₹511 crore, which have also seen a proportional increase in line with the growth in net sales. In 2023, expenses amounted to ₹267 crore, showing an increase compared to the previous year. In 2022, expenses were ₹138 crore, indicating a rising trend in expenditures. In contrast, in 2021, expenses were relatively higher at ₹186 crore, possibly due to specific operational or one-time factors.

Finally, the profit after tax (PAT) for the TTM period stands at ₹106 crore, showcasing a strong performance in generating profits. In 2023, the PAT was ₹59 crore, indicating an improvement compared to the previous year. In 2022, the company reported a loss of ₹2 crore, suggesting a turnaround from the preceding year’s performance. Similarly, in 2021, the PAT was positive at ₹6 crore, reflecting a consistent effort towards profitability.

ParticularsTTM202320222021
Net Sales66535116213
Expenses5112671386
Profit After Tax106559-2
as of 01 Feb 2024 (₹ amount in crores)

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Table of Waaree Renewables Ltd Share Price Target

As of 01 Feb 2024, Waaree Renewables closed at ₹ 4,032 marking all time high gaining 5% in a single day. In this we will analyse the stock for future growth of the company.

YearMin TargetMax Target
2024₹ 6,093₹ 6,802
2025₹ 7,652₹ 9,493
2026₹ 10,853₹ 12,239
2027₹ 14,729₹ 17,176
2028₹ 18,532₹ 20,293
2029₹ 21,658₹ 25,964
2030₹ 26,891₹ 32,392
as of 01 Feb 24

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Waaree Renewables Ltd share price target in 2024:

  • Minimum Target: ₹ 6,093
  • Maximum Target: ₹ 6,802

In the upcoming year, the company is anticipated to maintain a price range between ₹ 6,093 and ₹ 6,802

Waaree Renewables Ltd share price target in 2025:

  • Minimum Target: ₹ 7,652
  • Maximum Target: ₹ 9,493

Moving into 2025, the projected price range widens, reaching between ₹ 7,652 and ₹ 9,493

Waaree Renewables Ltd share price target in 2026:

  • Minimum Target: ₹ 10,853
  • Maximum Target: ₹ 12,239

Further into the future, specifically in 2026, the anticipated price range expands to ₹ 10,853 to ₹ 12,239.

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Waaree Renewables Ltd share price target in 2027:

  • Minimum Target: ₹ 14,729
  • Maximum Target: ₹ 17,176

By 2027, the company’s share price is expected to aim for a range of ₹14,729 to ₹17,176.

Waaree Renewables Ltd share price target in 2028:

  • Minimum Target: ₹ 18,532
  • Maximum Target: ₹ 20,293

Looking ahead to 2028, the minimum and maximum targets extend to ₹18,532 and ₹20,293, respectively.

Waaree Renewables Ltd share price target in 2029:

  • Minimum Target: ₹ 21,658
  • Maximum Target: ₹ 25,964

In the long term, by 2029, the company is anticipated to potentially reach a price range between ₹21,658 and ₹25,964.

Waaree Renewables Ltd share price target in 2030:

  • Minimum Target: ₹ 26,891
  • Maximum Target: ₹ 32,392

Projected into 2030, the minimum and maximum targets suggest a potential price range of ₹26,891 to ₹32,392

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Positive and Negative Points of Waaree Renewables Ltd

Positive

  • The company is nearly debt-free, indicating a strong financial position and reduced financial risk.
  • There has been an improvement in the cash conversion cycle, reflecting enhanced efficiency in managing cash flows and operations.
  • Both the Return on Capital Employed (ROCE) and Return on Equity (ROE) metrics demonstrate the robust performance of the company, indicating effective utilization of resources and strong profitability.

Negative

  • company does not have any considerable negative points

Disclaimer

Investing in stock market is risky and subject to the market condition. This article provides an examination of the company for educational purposes only. We are not SEBI( Stock exchange board of India) registered advisors, and this is not an investment advice. We do not provide tips or calls. Before making any investment decisions, please conduct your own research or consult a qualified financial advisor.

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