Waaree Energies Share Price Target 2025, 2026, 2030, 2040, 2050
Waaree Energies Ltd was established in December 1990 as one of the first solar energy companies in India. Since its inception, Waaree has manufactured PV modules with an installed capacity of 12 GW in five manufacturing facilities spread across India and globally. It is by far the largest module exporter, with a 44% market share!
This blog will discuss its Waaree Energies share price targets as far as 25 years from now (2025 – 2050).
What is Waaree Energies Ltd (NSE: WAAREEENER)?
Waaree Energies offers a wide range of solar modules, including multicrystalline, monocrystalline, and TOPCon modules. With five manufacturing facilities worldwide and plans to increase capacity to 20.9 GW by 2027, in addition to trading solar components and expanding its international manufacturing presence in Texas by FY25, Waaree Energies has a broad product portfolio.
Fundamental Table
| Metric | Value |
|---|---|
| Market Capitalization | ₹73,688 Cr |
| Current Price | ₹2,565 |
| High / Low (52 weeks) | ₹3,743 / ₹2,295 |
| Stock P/E | 74.6 |
| Book Value | ₹ |
| Dividend Yield | 0.00% |
| ROCE | 43.6% |
| ROE | 33.4% |
| Face Value | ₹10.0 |
| Industry PE | 63.2 |
| Net Cash Flow (PY) | ₹114 Cr |
| PBT (Quarterly) | ₹499 Cr |
| EPS | ₹62.8 |
| Promoter Holding | 64.3% |
| PEG Ratio | – |
| Net Profit (Annual) | ₹1,274 Cr |
| Debt | ₹985 Cr |
| Dividend (Last Year) | ₹0.00 Cr |
| Current Liabilities | ₹7,543 Cr |
| Current Assets | ₹8,770 Cr |
| Debt-to-Equity Ratio | 0.20 |
| Price-to-Book Value | – |
| Graham Number | ₹ |
Key Financials
| Metric | Value |
|---|---|
| Sales | ₹11,398 Cr |
| Operating Profit | ₹1,575 Cr |
| Compounded Sales Growth (3 Years) | 80% |
| Compounded Profit Growth (3 Years) | 180% |
| Stock Price CAGR (5 Years) | – |
| Return on Equity (ROE) – 5 Years | 35% |
| Cash from Operating Activity | ₹2,305 Cr |
Peer Comparisons
| S.No. | Name | CMP Rs. | P/E | Mar Cap Rs.Cr. | NP Qtr Rs.Cr. | Qtr Profit Var % | Sales Qtr Rs.Cr. | Qtr Sales Var | ROCE % |
|---|---|---|---|---|---|---|---|---|---|
| 1 | Siemens | ₹6,104.80 | 80.03 | ₹2,17,404.45 | ₹831.20 | 45.41% | ₹6,461.10 | 11.25% | 25.59% |
| 2 | ABB | ₹6,415.65 | 80.55 | ₹1,35,953.00 | ₹440.45 | 21.68% | ₹2,912.16 | 5.16% | 30.69% |
| 3 | CG Power & Ind | ₹650.20 | 111.00 | ₹99,399.78 | ₹219.63 | -1.77% | ₹2,412.69 | 20.54% | 46.63% |
| 4 | Suzlon Energy | ₹55.57 | 76.26 | ₹75,225.82 | ₹200.60 | 45.89% | ₹2,103.38 | 47.98% | 24.93% |
| 5 | Waaree Energies | ₹2,565.00 | 74.56 | ₹73,688.14 | ₹375.66 | 14.78% | ₹3,574.38 | 1.05% | 43.63% |
| 6 | BHEL | ₹204.49 | 160.12 | ₹71,204.71 | ₹106.15 | 268.47% | ₹6,584.10 | 28.46% | 3.37% |
| 7 | Hitachi Energy | ₹13,436.35 | 285.67 | ₹56,945.50 | ₹52.29 | 111.36% | ₹1,553.74 | 26.53% | 17.85% |
| Period | Share Price (INR) |
|---|---|
| Before 1 Year | – |
| Before 6 Months | ₹2,295 |
| Before 5 Years | – |
| All-Time Max | ₹3,743 |
Waaree Energies share price may fluctuate today due to market demand for solar energy shares, investor sentiment, and current developments in international expansion. Positive momentum can come from a good order book, advances in solar technology, or announcements about production facilities or partnerships in the renewable energy sector.
Check Live Price here:
Waaree Energies share price may fluctuate due to market sentiment, global energy trends, and renewable energy policies. Strong financial results or project announcements could provide positive momentum that drives price changes; trading volumes and sector performance provide insight into potential price movements.
| Price Type | Change |
|---|---|
| Maximum (Rs.) | + 80 |
| Minimum (Rs.) | – 35 |
WAAREEENER Indicator Based Technical Analysis
NOTE!
Signals may differ across timeframes. If you’re planning to purchase WAAREEENER and keep it for more than one week, it’s suggested that you choose signals from weekly and daily timeframes. For trading in the short term, signals that range from 5 minutes to 1-hour timeframes are better appropriate.
Waaree Energies share price goal for 2025 is estimated to be between Rs 1900-3800, driven by strong demand for solar modules, an order book of 16.6 GW, expanding domestic and global manufacturing facilities and strong backward integration in solar cells – while the US factory launch in FY25 supports growth with strong momentum and long-term sustainability.
| Year | Minimum Price (₹) | Maximum Price (₹) | Remarks |
|---|---|---|---|
| 2025 | ₹1,900 | ₹3,800 | Steady growth expected. |
| Month | Minimum Price (₹) | Maximum Price (₹) | Remarks |
|---|---|---|---|
| January | ₹1,900 | ₹2,200 | Post-IPO momentum. |
| February | ₹2,000 | ₹2,300 | U.S. expansion optimism. |
| March | ₹2,100 | ₹2,400 | Strong export growth. |
| April | ₹2,200 | ₹2,500 | New order inflows likely. |
| May | ₹2,300 | ₹2,600 | Expansion progress. |
| June | ₹2,400 | ₹2,700 | Facility ramp-up. |
| July | ₹2,500 | ₹2,800 | Higher sales expected. |
| August | ₹2,600 | ₹2,900 | U.S. demand strengthens. |
| September | ₹2,700 | ₹3,000 | Growing solar market. |
| October | ₹2,800 | ₹3,100 | Partnerships possible. |
| November | ₹2,900 | ₹3,200 | Strong quarterly results. |
| December | ₹3,000 | ₹3,800 | Year-end rally expected. |
Waaree Energies share price forecast for 2026 is projected at Rs2350-Rs4500 due to its 20.9GW production expansion, US market expansion and backward integration into ingots and wafers. Rising exports, strong order backlog and focus on advanced technologies like TOPCon will guarantee continued momentum and future scalability within the solar industry.
| Year | Minimum Price (₹) | Maximum Price (₹) |
|---|---|---|
| 2026 | ₹2,300 | ₹4,500 |
| Month | Minimum Price (₹) | Maximum Price (₹) |
|---|---|---|
| January | ₹2,300 | ₹2,600 |
| February | ₹2,400 | ₹2,800 |
| March | ₹2,500 | ₹3,000 |
| April | ₹2,600 | ₹3,200 |
| May | ₹2,700 | ₹3,300 |
| June | ₹2,800 | ₹3,500 |
| July | ₹2,900 | ₹3,700 |
| August | ₹3,000 | ₹3,800 |
| September | ₹3,200 | ₹4,000 |
| October | ₹3,300 | ₹4,200 |
| November | ₹3,400 | ₹4,300 |
| December | ₹3,500 | ₹4,500 |
Waaree Energies 2030 share price target is estimated at Rs 4,000-9,000, supported by its advanced solar technologies, product innovations and extended global reach. Its 27 GW capacity, backward integration capability, energy storage solutions and green hydrogen solutions will help ensure continued growth and capitalise on future opportunities in the renewable energy market.
| Year | Minimum Price (₹) | Maximum Price (₹) |
|---|---|---|
| 2030 | ₹4,000 | ₹9,000 |
| Month | Minimum Price (₹) | Maximum Price (₹) |
|---|---|---|
| January | ₹4,000 | ₹4,500 |
| February | ₹4,200 | ₹4,800 |
| March | ₹4,500 | ₹5,000 |
| April | ₹4,800 | ₹5,500 |
| May | ₹5,000 | ₹5,800 |
| June | ₹5,300 | ₹6,200 |
| July | ₹5,500 | ₹6,500 |
| August | ₹5,800 | ₹6,800 |
| September | ₹6,000 | ₹7,200 |
| October | ₹6,200 | ₹7,500 |
| November | ₹6,500 | ₹8,000 |
| December | ₹7,000 | ₹9,000 |
Waaree Energies share price target for 2040 is estimated between Rs10,000-Rs25,000, driven by breakthroughs in solar efficiency, green hydrogen technology and energy storage solutions. Leveraging its global leadership in renewable energy production while increasing production with investments in AI-driven energy technologies, Waaree is poised for long-term market dominance and exponential growth through its sustainable innovations.
| Year | Minimum Price (₹) | Maximum Price (₹) |
|---|---|---|
| 2040 | ₹10,000 | ₹25,000 |
| Month | Minimum Price (₹) | Maximum Price (₹) |
|---|---|---|
| January | ₹10,000 | ₹11,500 |
| February | ₹10,500 | ₹12,000 |
| March | ₹11,000 | ₹12,500 |
| April | ₹11,500 | ₹13,500 |
| May | ₹12,000 | ₹14,000 |
| June | ₹12,500 | ₹15,000 |
| July | ₹13,000 | ₹16,000 |
| August | ₹14,000 | ₹17,500 |
| September | ₹15,000 | ₹19,000 |
| October | ₹16,000 | ₹20,000 |
| November | ₹18,000 | ₹22,500 |
| December | ₹20,000 | ₹25,000 |
Waaree Energies 2050 share price target is estimated to range between Rs20,000-Rs50,000, driven by innovative solar technologies and leading pioneering energy technologies such as quantum solar cells and AI-driven grids. Further expansion in green hydrogen production and energy independence initiatives should lead to sustainable growth and profitability.
| Year | Minimum Price (₹) | Maximum Price (₹) |
|---|---|---|
| 2050 | ₹20,000 | ₹50,000 |
| Month | Minimum Price (₹) | Maximum Price (₹) |
|---|---|---|
| January | ₹20,000 | ₹23,000 |
| February | ₹21,000 | ₹24,500 |
| March | ₹22,000 | ₹26,000 |
| April | ₹23,000 | ₹28,000 |
| May | ₹24,000 | ₹30,000 |
| June | ₹25,000 | ₹32,000 |
| July | ₹27,000 | ₹35,000 |
| August | ₹29,000 | ₹38,000 |
| September | ₹31,000 | ₹42,000 |
| October | ₹33,000 | ₹45,000 |
| November | ₹37,000 | ₹47,500 |
| December | ₹40,000 | ₹50,000 |
| Year | Minimum Target (₹) | Maximum Target (₹) |
|---|---|---|
| 2025 | ₹1,900 | ₹3,800 |
| 2026 | ₹2,300 | ₹4,500 |
| 2030 | ₹4,000 | ₹9,000 |
| 2040 | ₹10,000 | ₹25,000 |
| 2050 | ₹20,000 | ₹50,000 |
| Category | Percentage (Sep 2024) |
|---|---|
| Promoters | 64.31% |
| FIIs | 2.23% |
| DIIs | 3.02% |
| Public | 30.46% |
- The promoters hold the majority of the shares and own 64.31 % of Waaree Energies Ltd.
- Foreign institutional investors (FIIs) hold a stake of 2.23%.
- Domestic institutional investors (DIIs) hold 3.02 % of the shares.
- The public holds 30.46 % of the shares.
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Waaree Energies has garnered an excellent reputation with its impressive order book. By June 2024, Waaree had secured 16.6 GW for solar PV modules and served 566 customers in India and 33 international customers during FY23; 57% of revenue for FY24 came from 10 customers, which illustrated Waaree’s ability to cultivate long-term relationships with key stakeholders.
Waaree Energies Ltd Earning Results (Financials)
| Financial Metric | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 |
|---|---|---|---|---|---|
| Sales | ₹11,398 Cr | ₹6,751 Cr | ₹2,854 Cr | ₹1,953 Cr | ₹1,996 Cr |
| Net Profit | ₹1,274 Cr | ₹500 Cr | ₹80 Cr | ₹48 Cr | ₹39 Cr |
| Operating Profit | ₹1,575 Cr | ₹836 Cr | ₹106 Cr | ₹85 Cr | ₹93 Cr |
| Profit Before Tax | ₹1,734 Cr | ₹677 Cr | ₹118 Cr | ₹70 Cr | ₹57 Cr |
| EPS (in Rs) | ₹62.76 | ₹24.49 | ₹3.84 | ₹2.50 | ₹2.12 |
| Other Income | ₹576 Cr | ₹88 Cr | ₹97 Cr | ₹45 Cr | ₹25 Cr |
| Depreciation | ₹277 Cr | ₹164 Cr | ₹43 Cr | ₹29 Cr | ₹27 Cr |
| Expenses | ₹9,823 Cr | ₹5,915 Cr | ₹2,748 Cr | ₹1,868 Cr | ₹1,903 Cr |
| Tax % | 27% | 26% | 33% | 31% | 31% |
| Interest | ₹140 Cr | ₹82 Cr | ₹41 Cr | ₹31 Cr | ₹34 Cr |
| OPM % | 14% | 12% | 4% | 4% | 5% |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% |
Waaree Energies experienced impressive growth in FY24, with revenues rising from Rs6,751 crores in FY23 to Rs11,398 crores – an increase of 163% – thanks to improved efficiency that saw earnings per share reach Rs62.76 despite reduced taxes and robust other income. It also ensured strong business momentum going into FY25.
Expert Forecasts On The Future Of Waaree Energies Ltd.
The stock offers strong growth potential but risks related to global competition and rising costs. Ideal for long-term investors with confidence in the growth of the solar sector.
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Is Waaree Energies Stock Good to Buy? (Bull case & bear case)
Bullish Case:
- The Revenue has increased to ₹11,398 Cr in FY24, a growth of 69% over FY23, which gives strong momentum.
- Net profit increased to ₹1,274 Cr, with a solid OPM of 14%, which also gives strength fundamentally.
- Set up a 1.6GW plant in the US by FY25 to tap international markets, which gives global recognition of the positive side of waaree energies.
- Construction of a 6 GW plant in Odisha for the production of solar cells and wafers.
- The Order book of 16.6 GW till June 2024 ensures long-term earnings visibility.
- Strong position in advanced solar technologies (TOPCon, bifacial modules).
Bearish Case:
- Total costs increased to ₹9,823 Cr in FY24, driven by high material costs (77%).
- Debt increased to ₹985 crore by September 2024, which could put pressure on margins.
- Intense competition in solar exports could affect pricing power.
- As 57% of export revenue comes from the USA, there is a threat of market risks.
- Large-scale expansion plans depend on timely execution and cost control.
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Conclusion
Waaree Energies has quickly established itself as a challenging player in the renewable energy sector, focussing on the manufacture of solar panels and other green energy solutions. Short-term investors could take advantage of expanding projects or government policies to promote clean energy and realise quick profits. Long-term investors could capitalise on India’s ambitious renewable energy targets to achieve sustainable growth by 2050.
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