WAAREEENER IN EQUITY
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| CUSTOMER | BASIS | EST ₹CR | RANGE | % REV | BUCKET | PERIOD | METHOD | CONF |
|---|---|---|---|---|---|---|---|---|
| IOCIndian Oil Corporation Ltd. | UNSTATED | 21,616 | 2,402–21,616 | 81.5% | — | FY26 | EST | 65% |
| “The refinery sector is the second-largest demand centre, with 30,000 tonnes per annum of green hydrogen awarded for supply to IOC, BPCL, HPCL and Numaligarh Re…” AR DOC | ||||||||
| Solar Energy Corporation of India Limited | CONTRACT | — | — | — | CAPEX | FY26 | EST | 80% |
| “This is to inform you that Waaree Forever Energies Private Limited (“WFEPL”), a wholly owned subsidiary of Waaree Energies Limited (“the Company”) has received…” ORDER p.1 · 28-AUG-26 · +1 DOC | ||||||||
| Financial Year | CONTRACT | CT 18 | — | — | CAPEX | FY26 | EST | 75% |
| “Time period if any, associated with the order(s)/contract(s) The supply of modules is scheduled to commence from the Financial Year 2026-27.” ORDER p.2 · 29-MAY-25 DOC | ||||||||
| FY27 | UNSTATED | — | — | — | — | FY27 | EST | 75% |
| “Key Performance Indicators: • Total Assets: ₹ 30,115.37 Crores • Net Worth: ₹ 15,010.89 Crores • PAT Margin: 14.26% • 3Y PAT CAGR: 44.99% | 5Y PAT CAGR: 117.58…” AR · +1 DOC | ||||||||
| China. | UNSTATED | — | — | — | — | FY25 | EST | 75% |
| “The Company has significantly increased export sales, particularly to the U.S., driven by policies like tariff barriers on China Plus One etc.” AR · +2 DOC | ||||||||
| SBINState Bank of India | UNSTATED | — | — | — | COGS | FY26 | EST | 75% |
| “Note 22 : Income tax expense (Contd.)Financial Statements 300 301Waaree Energies Limited | Integrated Annual Report 2025-26 Notes forming part of the Standalon…” AR · +1 DOC | ||||||||
| Parties | UNSTATED | — | — | — | — | FY25 | EST | 75% |
| “11) PARTICULARS OF CONTRACTS OR ARRANGEMENTS MADE WITH RELATED PARTIES All related party transactions that were entered into during the financial year were on …” AR DOC | ||||||||
| Rewa Ultra Mega Solar Limtied | CONTRACT | — | — | — | CAPEX | FY25 | EST | 70% |
| “Sub.: Intimation under Regulation 30 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“SEBI Listi…” ORDER p.1 · 11-DEC-24 DOC | ||||||||
| FY27 | UNSTATED | — | — | — | CAPEX | FY27 | EST | 70% |
| “Creating a de- risked and value-driven IPP portfolio for marquee clients, strengthening long-term order visibility for the Group Projected Capacity by FY27, FY…” AR DOC | ||||||||
| Securities and Exchange Board of India | UNSTATED | — | — | — | — | FY26 | EST | 70% |
| “(Not Applicable to the Company during the Audit Period) (f) The Securities and Exchange Board of India (Registrars to an Issue and Share Transfer Agents) Regul…” AR · +1 DOC | ||||||||
| Financial Year | UNSTATED | — | — | — | — | FY26 | EST | 70% |
| “Job creation in smaller towns – Disclose wages paid to persons employed (including employees or workers employed on a permanent or non-permanent / on contract …” AR · +1 DOC | ||||||||
| Financial Year | UNSTATED | — | — | — | SG&A | FY25 | EST | 70% |
| “Number of consumer complaints in respect of the following: FY 24-25 (Current Financial Year) Remarks FY 23-24 (Previous Financial Year) RemarksReceived during …” AR · +1 DOC | ||||||||
| Others | UNSTATED | — | — | — | — | FY26 | EST | 70% |
| “Provision for employee benefits: Leave entitlement 15.51 3.88 Gratuity (Refer note 45) 1.39 1.49 Provision - Others: Other Claims * 85.58 206.74 119.47 224.05 …” AR · +1 DOC | ||||||||
| Australia | UNSTATED | — | — | — | — | FY25 | EST | 70% |
| “(from July 02, 2024) Waaree Renewable Energies Australia Pty Ltd. (from December 06, 2024) iv) Step down subsidiary Sangam Rooftop Solar Private Limited (forme…” AR · +1 DOC | ||||||||
| MAHABANKBank of Maharashtra | UNSTATED | — | — | — | COGS | FY25 | EST | 70% |
| “) Note 25 : Borrowings Particulars As at March 31, 2025 As at March 31, 2024 Loans repayable on demand Secured From Banks:- Cash credit facility - 36.39 Overdr…” AR DOC | ||||||||
| INDUSINDBKIndusInd Bank Ltd. | UNSTATED | — | — | — | COGS | FY25 | EST | 70% |
| “) Note 25 : Borrowings Particulars As at March 31, 2025 As at March 31, 2024 Loans repayable on demand Secured From Banks:- Cash credit facility - 36.39 Overdr…” AR DOC | ||||||||
| ICICIBANKICICI Bank Ltd. | UNSTATED | — | — | — | COGS | FY25 | EST | 70% |
| “) Note 25 : Borrowings Particulars As at March 31, 2025 As at March 31, 2024 Loans repayable on demand Secured From Banks:- Cash credit facility - 36.39 Overdr…” AR DOC | ||||||||
| BANKINDIABank of India | UNSTATED | — | — | — | COGS | FY25 | EST | 70% |
| “) Note 25 : Borrowings Particulars As at March 31, 2025 As at March 31, 2024 Loans repayable on demand Secured From Banks:- Cash credit facility - 36.39 Overdr…” AR DOC | ||||||||
| Australia | CONTRACT | CT 1,225 | — | — | CAPEX | 2026-08 | EST | 50% |
| “WRTL completed the acquisition of an approximately 55% stake in Associated Power Structures for approximately INR1,225 crores, extending our reach decisively i…” CONCALL DOC | ||||||||
| SUPPLIER | BASIS | EST ₹CR | RANGE | % COST | BUCKET | PERIOD | METHOD | CONF |
|---|---|---|---|---|---|---|---|---|
| China. | UNSTATED | — | — | — | — | FY26 | EST | 75% |
| “Ingots-wafers have historically been sourced predominantly from China, creating a structural vulnerability in an otherwise growing domestic industry.” AR · +1 DOC | ||||||||
| Financial Year | UNSTATED | — | — | — | COGS | FY25 | EST | 75% |
| “Percentage of input material (inputs to total inputs by value) sourced from suppliers: FY 24-25 Current Financial Year FY 23-24 Previous Financial Year Directl…” AR · +1 DOC | ||||||||
| China. | UNSTATED | — | — | — | CAPEX | FY26 | EST | 70% |
| “tribal school support China Engineering training, vendor visits & exposure to international standards US Leadership training with WSA & operational efficiency …” AR DOC | ||||||||
| SOURCE | READ | % | LAST READ |
|---|---|---|---|
| ANNOUNCEMENTS | 22/22 | 100% | 08-NOV-26 |
| ANNUAL | 2/2 | 100% | 15-OCT-26 |
| CONCALL | 5/5 | 100% | 08-NOV-26 |
| ORDERS | 22/22 | 100% | 08-NOV-26 |
| RATINGS | 1/3 | 33% | 11-NOV-26 |
| SCREENER | 1/1 | 100% | 08-NOV-26 |
| SIGNAL | VALUE | AS OF | INPUTS |
|---|---|---|---|
| CUSTOMER HHI | 1.000 | 14-NOV-26 | Indian Oil Corporation Ltd. share 100% |
| CUST MOM 1M | +11.8% | 14-NOV-26 | from 15-OCT-26 · Bank of India +18.2% w 0 · ICICI Bank Ltd. +14.0% w 0 · IndusInd Bank Ltd. +3.3% w 0 · Bank of Maharashtra +14.4% w 0 · State Bank of India +12.5% w 0 · Indian Oil Corporation Ltd. +11.8% w 1 |
| TOP 10 CUSTOMERS % REV | 47.0% | 31-AUG-26 | sentence Our top 10 customer sales came down from 47% to around 37.1% in Q1 FY27. · documentId 3,371 |
| TOP 5 CUSTOMERS % REV | 15.2% | 30-NOV-26 | sentence Top 5 customers accounted for 15.2% and top 10 accounted 20%, demonstrating consistently diversifying revenue mix and sales. · documentId 14,888 |