Debut Plus

₹49.33

▲ +2.83 +6.09%

18 Jul 2026

BSE Listed

Waa Solar Limited (541445)

Volume: 8,000Avg Vol 1W: 7,520Avg Vol 1M: 7,60052W Range:₹40.9₹78.7
BSE www.waasolar.org
Key Ratios
Checked 4h ago
Market Cap₹230 Cr
Current Price₹49.33
Previous Close₹46.5
High / Low (52w)₹78.7 / ₹40.9
Volume8,000
Avg Vol (1W)7,520
Avg Vol (1M)7,600
Stock P/E139.52
Book Value₹137.96
Dividend Yield—
ROE—
ROA—
Revenue (TTM)—
Revenue Growth—
Profit Margin—
Total Debt—
Shares Outstanding—
Face Value—
EPS (TTM)—
P/B1.25
Debt / Equity0.52
50 DMA₹54.11
200 DMA₹55.97
Day change+6.09%
Price Chart
₹49.33▼ 33.62% · 1Y
₹100₹433.8L
2025-07-18
2026-07-17

20-day avg volume: 8K shares

Pros
  • Company is almost debt-free.
  • Revenue grew 13% YoY.
Cons
  • Stock trades at a high P/E of 140.
Profit & Loss (Annual)
MetricMar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Revenue₹54 Cr₹86 Cr₹70 Cr₹45 Cr₹47 Cr₹50 Cr₹27 Cr₹31 Cr
EBITDA₹26 Cr₹33 Cr₹31 Cr₹21 Cr₹20 Cr₹20 Cr₹10 Cr₹9 Cr
Net Profit₹4 Cr₹4 Cr₹11 Cr₹4 Cr₹7 Cr₹10 Cr₹7 Cr₹7 Cr
EPS67.586.316.776.115.77.4255.26
Balance Sheet
MetricMar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Total Assets₹320 Cr₹461 Cr₹342 Cr₹322 Cr₹310 Cr₹299 Cr₹235 Cr₹333 Cr
Total Liabilities₹194 Cr₹278 Cr₹156 Cr₹139 Cr₹120 Cr₹99 Cr₹54 Cr₹147 Cr
Equity₹126 Cr₹182 Cr₹186 Cr₹183 Cr₹191 Cr₹199 Cr₹181 Cr₹186 Cr
Total Debt————————
Cash Flow
MetricMar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Operating₹41 Cr₹109 Cr₹27 Cr₹36 Cr₹33 Cr₹38 Cr₹17 Cr₹-5 Cr
Investing₹-34 Cr₹-133 Cr₹76 Cr₹-18 Cr₹1 Cr₹-1 Cr₹51 Cr₹-63 Cr
Financing₹-6 Cr₹63 Cr₹-106 Cr₹-39 Cr₹-31 Cr₹-31 Cr₹-67 Cr₹86 Cr
Free Cash Flow₹41 Cr₹109 Cr₹27 Cr₹36 Cr₹33 Cr₹38 Cr₹17 Cr₹-5 Cr
Shareholding
Promoter 67.86% Institutions 0% Public 32.14%
Efficiency & Working Capital
ROCE—
Interest Coverage1.8
Dividend Payout—
Debtor Days215 d
Inventory Days0 d
Payable Days25 d
Cash Conversion Cycle191 d
Working Capital Days215 d
Shareholding Details

As of 2026-03-31

Promoter67.9%
FII0%
DII0%
Institutions0%
Public32.1%
Promoter Pledge75.2%
No. of Shareholders2,307
Shareholding Pattern

Quarterly — figures in %. Latest 12 quarters.

PeriodSept 2020Mar 2021Sept 2021Mar 2022Sept 2022Mar 2023Sept 2023Mar 2024Sept 2024Mar 2025Sept 2025Mar 2026
Promoters—69.8%69.8%69.8%69.8%69.8%69.8%68.5%67.8%67.9%67.9%67.9%
FIIs—0%0%0%0%0%0%0%0%0%0%0%
DIIs—0%0%0%0%0%0%0%0%0%0%0%
Public—30.2%30.2%30.2%30.2%30.2%30.2%31.5%32.2%32.1%32.1%32.1%
Promoter Pledge76%73.1%73.1%73.1%73.1%73.1%73.1%74.5%75.2%75.2%75.2%75.2%
No. of Shareholders3343274831,0461,0871,0601,0981,4692,2782,3672,4122,307
Returns History (ROE / ROCE / ROA)
PeriodROEROCEROAP/E
202503————
Major Shareholders (>1%)
NameCategoryStakeShares
Madhav Power Private LimitedShareholding of Promoter and Promoter Group52.9%70,18,780
Armaan Amit Trust (in The Name Of Trustee Ashok M. Khurana)Shareholding of Promoter and Promoter Group11.2%14,89,824
Amit Ashok KhuranaShareholding of Promoter and Promoter Group3.6%4,74,380
Madhav Ashok Trust (in The Name Of Trustee Ashok M. Khurana)Shareholding of Promoter and Promoter Group0.1%10,152
Ashok Madhavdas KhuranaShareholding of Promoter and Promoter Group0.1%8,908
Manju Ashok KhuranaShareholding of Promoter and Promoter Group0%684
Neelakshi Amit KhuranaShareholding of Promoter and Promoter Group0%36
Promoter Pledges
HolderPledged Shares% of HoldingAs of
Manju Ashok Khurana00%2026-03-31
Amit Ashok Khurana00%2026-03-31
Ashok Madhavdas Khurana00%2026-03-31
Neelakshi Amit Khurana00%2026-03-31
Armaan Amit Trust (in The Name Of Trustee Ashok M. Khurana)00%2026-03-31
Madhav Ashok Trust (in The Name Of Trustee Ashok M. Khurana)00%2026-03-31
Madhav Power Private Limited67,66,05096.4%2026-03-31
Ashok Madhavdas Khurana00%2025-09-30
Manju Ashok Khurana00%2025-09-30
Amit Ashok Khurana00%2025-09-30
Neelakshi Amit Khurana00%2025-09-30
Armaan Amit Trust (in The Name Of Trustee Ashok M. Khurana)00%2025-09-30
Board of Directors
NameDesignationYear
Amit A KhuranaChairman & Managing Director2025
Neelakshi A KhuranaE D & Wholetime Director2025
Mangilal SinghiNon Independent Non Executive Director / CFO2025
Nikhil KaushikIndependent Non Exe. Director2025
Shanker R BhagatIndependent Non Exe. Director2025
Kamal Ashwinbhai LalaniIndependent Non Exe. Director2025
Mansi HedaCompany Sec. & Compli. Officer2025
Segments — Product
SegmentRevenueShare
Solar Power Generation₹26 Cr99.9%
Trading Activities₹0 Cr0.1%
Capital Structure (₹ Cr)
YearFace ValueAuthorisedIssuedPaid-up
2025₹10141313
Related-Party Transactions (₹ Cr)
YearSubsidiariesAssociatesJVKMPOthersTotal
202512304010316
202511203000214
2025000000
Substantial Acquisitions (SAST)

17 disclosure(s)

Market04/03/2025 · 1,600
Market12/06/2024 · 6,400
Market10/06/2024 - 11/06/2024 · 16,000
Market06/06/2024 - 07/06/2024 · 16,800
Market03/06/2024 · 12,800
Market30/05/2024 - 31/05/2024 · 34,400
Company Information
Incorporated2009
ChairmanAmit A Khurana
AuditorJCH & Associates
Investor Email[email protected]
🌐 www.waasolar.org ↗

📍 Madhav House Subhanpura, Nr Panchratna Building, Vadodara, Gujarat, 390023

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