Waaree Energies Limited IPO

Incorporated in December 1990, Waaree Energies Limited is an Indian manufacturer of solar PV modules with an aggregate installed capacity of 12 GW.

The product portfolio of solar energy products consists of the following PV modules

  1. Multicrystalline modules
  2. Monocrystalline modules; and
  3. TopCon modules include flexible bifacial modules (Mono PERC), both framed and unframed, as well as building-integrated photovoltaic (BIPV) modules.

As of June 30, 2023, the company operates four manufacturing facilities in India, covering a total area of 136.30 acres. These facilities are located in Surat, Tumb, Nandigram, and Chikhli in Gujarat, India.

The Tumb facility is certified with ISO 45001:2018 and ISO 14001:2015 for the manufacture, marketing, supply, and installation of solar photovoltaic modules. The Chikhli facility is certified with ISO 45001:2018, ISO 9001:2015, and ISO 14001:2015 for solar photovoltaic module manufacturing, marketing, and supply.The company also comply with various safety standards for its PV modules.

As of March 31, 2021, 2022, and 2023, and as of June 30, 2023, the company served a total of 1,381, 716, 566, and 373 customers in India, respectively. Outside India, the company served 31, 26, 33, and 20 customers during the same periods.

Competitive Strength

  • Largest Solar PV Module Manufacturer in India
  • The diversified base of Indian and global customers with a large order book
  • Advanced manufacturing facility with global accreditions
  • Extensive Pan India retail network
  • Consistent track record of financial performance
  • Experienced management team

As of June 30, 2023, the company had 1,019 full-time employees.

Waaree Energies Limited Financial Information (Restated Consolidated)

Waaree Energies Limited’s revenue increased by 70% and profit after tax (PAT) rose by 155% between the financial year ending with March 31, 2024 and March 31, 2023.

Period Ended30 Jun 202431 Mar 202431 Mar 202331 Mar 2022
Assets11,989.4811,313.737,419.922,237.4
Revenue3,496.4111,632.766,860.362,945.85
Profit After Tax401.131,274.38500.2879.65
Net Worth4,471.714,074.841,826.02427.13
Reserves and Surplus2,464.693,825585.96230.43
Total Borrowing261.24317.32273.48313.08
Amount in ₹ Crore

Key Performance Indicator

The market capitalization of Waaree Energies IPO is Rs 42939.36 Cr.

KPI as of June 30, 2024.

KPIValues
ROE8.79%
ROCE9.45%
Debt/Equity0.06
RoNW8.81%
P/BV8.84
PAT Margin (%)11.47
 Pre IPOPost IPO
EPS (Rs) 48.6956.16
P/E (x) 30.8726.76
Note:
  • The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latest FY earnings as of March 31, 2024 that is available in RHP.
  • The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of June 30, 2024 that is available in RHP.

Objects of the Issue (Waaree Energies IPO Objectives)

The net proceeds of the Fresh Issue are proposed to be utilised in the following manner:

  1. Part finance the cost of establishing the 6GW of Ingot Wafer, Solar Cell and Solar PV Module manufacturing facility in Odisha, India(“Project”).
  2. General corporate purposes.

Waaree Energies IPO Details

IPO DateOctober 21, 2024 to October 23, 2024
Listing Date[.]
Face Value₹10 per share
Price Band₹1427 to ₹1503 per share
Lot Size9 Shares
Total Issue Size28,752,095 shares
(aggregating up to ₹4,321.44 Cr)
Fresh Issue23,952,095 shares
(aggregating up to ₹3,600.00 Cr)
Offer for Sale4,800,000 shares of ₹10
(aggregating up to ₹721.44 Cr)
Issue TypeBook Built Issue IPO
Listing AtBSE, NSE
Share holding pre issue263,331,104
Share holding post issue287,283,199

Waaree Energies IPO Promoter Holding

The company's promoters are Hitesh Chimanlal Doshi, Viren Chimanlal Doshi, Pankaj Chimanlal Doshi and Waaree Sustainable Finance Private Limited.

Share Holding Pre Issue71.80%
Share Holding Post Issue64.30%

SHARIAH SCREENING for - Waaree Energies Limited IPO

Looking to invest ethically or according to Islamic principles? Expert Ethical brokers can help. Whether you need an ethical investment broker, a halal stock broker in India, or a Shariah-compliant broker, there are specialists available. Discover how to align your investments with your values and start your journey towards ethical wealth creation today through Ethical IAP or Ethical PMS.

Visit Prosperia.in to learn more about Ethical Investment Opportunities and start your journey towards ethical wealth creation today.

BUSINESS SCREEN

FINANCIAL RATIOS

As per our analysis and Based on the information we have, this is the output.
Allah knows best.
If you find this result mistaken or questionable, let us know via email at info (@) halalstock.in

Spread the Knowledge - Share the Latest IPO Updates and Shariah Compliant IPO's.

Latest Current & Upcoming IPOs in BSE & NSE - Including Shariah Compliant.

The IPO dashboard offers insights on the Latest Current & Upcoming IPOs in BSE & NSE. It also evaluates IPOs for Shariah compliance, ensuring alignment with Islamic principles for ethical investment choices.

IPO

Solar91 Cleantech Limited IPO Detail

Last Updated on December 23, 2024 Solar91 Cleantech Limited IPO Incorporated in 2015, Solar91 Cleantech Limited is engaged in providing Engineering, Procurement, and Construction (EPC) Solar Energy Solutions to commercial

Read More »

Dear Halal Stock Users,

If you believe our website is a valuable resource,
we invite you to support us.
Your contribution ensures free access for all
and fuels future development.

You can contribute as little as
100, 200, 500 & so…
every bit counts.

Thank you for your support!