Is WAA Solar a good quality company?

Past 10 year's financial track record analysis by Moneyworks4me indicates that WAA Solar Ltd is a average quality company .

Is WAA Solar undervalued or overvalued?

The key valuation ratios of WAA Solar Ltd's currently when compared to its past seem to suggest it is in the Somewhat overvalued zone .

What is WAA Solar share price return in the past 10 years?

Data is not available for this company

Is WAA Solar a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of WAA Solar Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.

WAA Solar Ltd - Stock Valuation and Financial Performance

Name: WAA Solar
Brand: WAA Solar

BSE: 541445 | NSE: | Power Generation/Distribution | Small Cap

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WAA Solar Share Price

₹123.95 -2.75 -2.17%
as on 21-Nov'24 14:00

10 Year X-Ray of WAA Solar:

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Standalone Basis ^P Consolidated Basis ^P

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Value Creation ⓘ

Value Creation Index Colour Code Guide ⓘ

	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	TTM
ROCE % ⓘ	13.1%	9%	6.2%	7.6%	7.7%	9%	5.8%	5.3%	5.7%	4.4%	-
Value Creation Index ⓘ	-0.1	-0.4	-0.6	-0.5	-0.5	-0.4	-0.6	-0.6	-0.6	-0.7	-
Growth Parameters ⓘ Growth Parameters Colour Code Guide ⓘ
Sales ⓘ	53.7	46	25.6	24.7	25.4	25	24.4	23.5	25.8	26.1	26
Sales YoY Gr.	-	-14.2%	-44.3%	-3.8%	2.8%	-1.5%	-2.2%	-3.8%	9.7%	1.1%	-
Adj EPS ⓘ	299.8	112.6	-0.4	1.6	2.9	4.4	2.6	3.7	4.9	3.3	3.3
YoY Gr.	-	-62.4%	-100.4%	NA	86%	51.4%	-42.1%	42.6%	33.7%	-32.2%	-
BVPS (₹) ⓘ	2,148.4	2,019.7	1,315.7	119.3	112.8	123	125.5	129.2	134.1	137.4	137.4
Adj Net Profit ⓘ	11.4	6.1	0	1.5	3.9	5.9	3.4	4.8	6.5	4.4	4
Cash Flow from Ops. ⓘ	46.9	10.3	22.4	8.6	66.5	22.2	17.7	17.5	21.6	11.8	-
Debt/CF from Ops. ⓘ	2.6	8.6	3.8	11.1	1.3	3.3	3.5	2.9	1.8	3.2	-

CAGR ⓘ

CAGR Colour Code Guide ⓘ

	9 Years	5 Years	3 Years	1 Years
Sales ⓘ	-7.7%	0.6%	2.2%	1.1%
Adj EPS ⓘ	-39.4%	2.5%	8.9%	-32.2%
BVPSⓘ	-26.3%	4%	3.1%	2.5%
Share Price	-	56.4%	67.6%	63.1%

Key Financial Parameters ⓘ

Performance Ratio Colour Code Guide ⓘ

	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	TTM
Return on Equity % ⓘ	15	6.4	-0	1.6	2.9	3.8	2.1	2.9	3.7	2.4	2.4
Op. Profit Mgn % ⓘ	63.2	58	94.1	85.6	89.8	87.7	88.5	86.5	81.5	68.5	NAN
Net Profit Mgn % ⓘ	21.2	13.3	-0.1	6.2	15.3	23.5	13.9	20.6	25.1	16.8	16.9
Debt to Equity ⓘ	1.5	0.8	1.2	0.8	0.6	0.5	0.4	0.3	0.2	0.2	-
Working Cap Days ⓘ	54	77	148	276	335	399	596	672	583	704	0
Cash Conv. Cycle ⓘ	-79	-77	10	-20	-23	-22	-44	-22	-25	3	0

Recent Performance Summary

No data to display

Return on Equity has declined versus last 3 years average to 2.40%

Sales growth has been subdued in last 3 years 2.19%

Net Profit has been subdued in last 3 years 8.94%

Sales growth is not so good in last 4 quarters at 0.00%

Latest Financials - WAA Solar Ltd.

	Standalone	Consolidated
TTM EPS (₹)	3.3	5
TTM Sales (₹ Cr.)	26.1	26.7
BVPS (₹.) ⓘ	137.4	137.3
Reserves (₹ Cr.) ⓘ	169	169
P/BV ⓘ	0.92	0.92
PE ⓘ	38.18	25.35

From the Market
52 Week Low / High (₹)	69.55 / 261.80
All Time Low / High (₹)	7.67 / 261.80
Market Cap (₹ Cr.)	168
Equity (₹ Cr.)	13.3
Face Value (₹)	10
Industry PE ⓘ	26.7

Management X-Ray of WAA Solar:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged ^*

76.00

73.05

73.12

74.49

75.17

* Pledged shares as % of Promoter's holding (%)

Valuation of WAA Solar

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Price to Earnings

Enterprise Value to EBIT

Price to Book-Value

Price to Sales

Dividend History

Analyst's Notes

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Key Ratios of WAA Solar

Standalone Basis Consolidated Basis

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)

Standalone Basis Consolidated Basis

PARTICULARS	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24
Sales	54	46	26	25	25	25	24	24	26	26
Operating Expenses ⓘ	20	19	2	4	3	6	3	3	5	8
Manufacturing Costs	18	18	0	0	0	1	0	1	0	6
Material Costs	0	0	0	0	0	0	0	0	2	-3
Employee Cost	1	0	0	1	1	1	1	1	2	2
Other Costs ⓘ	1	1	1	3	2	4	2	1	1	3
Operating Profit ⓘ	34	27	24	21	23	19	21	20	21	18
Operating Profit Margin (%)	63.2%	58.0%	94.1%	85.6%	89.8%	75.3%	88.0%	86.4%	81.5%	68.0%
Other Income ⓘ	1	1	0	2	4	11	1	1	0	1
Interest ⓘ	13	12	11	11	10	9	8	6	5	4
Depreciation ⓘ	9	9	14	9	9	9	9	9	9	9
Exceptional Items ⓘ	0	0	0	0	0	0	0	0	0	0
Profit Before Tax ⓘ	12	6	0	3	8	12	6	6	8	6
Tax ⓘ	0	0	0	1	2	2	2	1	1	1
Profit After Tax	12	6	0	3	5	10	3	5	6	4
PAT Margin (%)	21.5%	13.8%	0.6%	11.2%	20.8%	41.2%	13.5%	21.0%	25.2%	16.9%
Adjusted EPS (₹)	16.9	6.5	0.2	2.8	4.0	7.8	2.5	3.7	4.9	3.3
Dividend Payout Ratio (%)	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%

Balance Sheet

(All Figures are in Crores.)

Standalone Basis Consolidated Basis

PARTICULARS	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24
Equity and Liabilities
Shareholders Fund	82	110	71	117	150	163	167	171	178	182
Share Capital ⓘ	0	0	0	5	7	7	7	13	13	13
Reserves ⓘ	81	109	71	112	143	157	160	158	165	169
Minority Interest	0	0	0	0	0	0	0	0	0	0
Debt	111	77	78	87	74	63	51	40	28	34
Long Term Debt	107	74	73	87	74	63	51	40	28	34
Short Term Debt	4	4	6	0	0	0	0	0	0	0
Trade Payables	14	0	0	2	0	2	1	1	1	2
Others Liabilities ⓘ	12	11	8	10	47	14	13	13	13	5
Total Liabilities ⓘ	219	198	158	215	271	242	233	226	221	223
Fixed Assets
Gross Block	157	157	157	157	157	150	150	150	151	150
Accumulated Depreciation	30	40	91	58	68	74	83	92	101	109
Net Fixed Assetsⓘ	127	117	65	98	89	76	67	58	50	41
CWIP ⓘ	0	0	0	0	0	0	0	0	0	0
Investmentsⓘ	81	69	81	88	137	99	114	118	118	103
Inventories	1	1	1	1	1	1	1	2	0	3
Trade Receivables	2	0	0	0	0	0	0	0	0	3
Cash Equivalents	2	1	1	2	26	31	7	7	13	19
Others Assetsⓘ	5	10	9	26	18	35	43	40	40	55
Total Assets ⓘ	219	198	158	215	271	242	233	226	221	223

Cash Flow

(All Figures are in Crores.)

Standalone Basis Consolidated Basis

PARTICULARS	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24
Cash Flow From Operating Activity ⓘ	47	10	22	9	66	22	18	18	22	12
PBT ⓘ	12	6	0	3	8	12	6	6	8	6
Adjustment ⓘ	23	21	24	20	17	6	16	14	13	12
Changes in Working Capital ⓘ	13	-17	-2	-14	44	5	-2	-2	2	-5
Tax Paid ⓘ	0	0	0	-1	-2	-2	-2	-1	-1	-1
Cash Flow From Investing Activity ⓘ	-51	13	-13	-6	-48	3	-22	0	0	0
Capex	0	0	0	0	0	0	0	0	0	1
Net Investments	-51	13	-13	-6	-49	14	-14	-4	0	15
Others ⓘ	0	0	0	0	1	-11	-8	3	1	-16
Cash Flow From Financing Activityⓘ	-1	-24	-10	-2	6	-20	-19	-17	-16	-6
Net Proceeds from Shares ⓘ	0	22	0	0	28	0	0	0	0	0
Net Proceeds from Borrowing ⓘ	9	-34	0	0	-13	-11	-12	-11	-12	-2
Interest Paid ⓘ	-13	-12	-11	-11	-10	-9	-8	-6	-5	-4
Dividend Paid ⓘ	0	0	0	0	0	0	0	0	0	0
Others ⓘ	4	0	1	8	0	0	0	0	0	0
Net Cash Flow ⓘ	-5	-1	0	1	25	5	-24	0	5	6

Finance Ratio

Standalone Basis Consolidated Basis

PARTICULARS	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24
Ratios
ROE (%)	15.19	6.63	0.17	2.93	3.98	6.58	2.01	2.92	3.72	2.44
ROCE (%)	13.07	9.03	6.19	7.58	7.65	8.98	5.8	5.27	5.74	4.4
Asset Turnover Ratio	0.27	0.22	0.14	0.13	0.1	0.1	0.1	0.1	0.12	0.12
PAT to CFO Conversion(x)	3.92	1.67	N/A	3	13.2	2.2	6	3.6	3.67	3
Working Capital Days
Receivable Days	16	10	1	0	1	1	0	3	3	20
Inventory Days	3	6	13	13	13	13	13	19	0	37
Payable Days	0	0	4,326	0	0	0	0	0	286	-195

WAA Solar Ltd Stock News

WAA Solar Ltd FAQs

What is the share price of WAA Solar?

Company share prices are keep on changing according to the market conditions. The closing price of WAA Solar on 21-Nov-2024 14:00 is ₹124.0.

What is the market cap of WAA Solar?

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 21-Nov-2024 14:00 the market cap of WAA Solar stood at ₹168.1.

What is the P/E ratio of WAA Solar?

The latest P/E ratio of WAA Solar as of 21-Nov-2024 14:00 is 38.18.

What is the P/B ratio of WAA Solar?

The latest P/B ratio of WAA Solar as of 21-Nov-2024 14:00 is 0.92.

What is the 52-week high and low of WAA Solar?

The 52-week high of WAA Solar is ₹261.8 and the 52-week low is ₹69.55.

What is the TTM revenue of WAA Solar?

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of WAA Solar is ₹26.08 ( Cr.) .

About WAA Solar Ltd

The company was incorporated as ‘Waa Solar Private Limited’ under the provision of the Companies Act, 1956 vide certificate of incorporation dated November 9, 2009 issued by the Assistant Registrar of Companies, Maharashtra, Mumbai. The registered office of the company was shifted from Maharashtra State to Gujarat State and certificate was issued on September 12, 2013 by the Registrar of Companies, Gujarat, Dadara Nagar and Havelli. Consequent upon the conversion of the company to public limited company, the name of the company was changed to ‘Waa Solar Limited’ and fresh certificate of incorporation dated February 19, 2018 was issued by the Assistant ROC, Registrar of Companies, Ahmadabad.

The company was originally incorporated in the year 2009, at Mumbai and promoted by Hitesh Doshi and Viren Doshi. On May 8, 2010, the company was taken over by their corporate promoter Madhav Power (MPPL) with the intention entering into solar power projects in the state of Gujarat. MPPL is their promoter and holding company holds 3,419,982 Equity Shares constituting 70.03% of stake in their company.

Business area of the Company:

Waa Solar is mainly engaged in solar power generation by setting up Solar Power Project and by investing in Special Purpose Vehicle (SPV) associate and subsidiaries companies which are engaged in solar power generation activities.

Key Events and Milestones:

November 09, 2009: Incorporated under Companies Act, 1956 as ‘Waa Solar Private Limited’.
January 09, 2010: Management of the company was taken over by Madhav Power.
May 21, 2010: 10 MW Power Purchase Agreement executed between the company & Gujarat Urja Vikas Nigam Limited (GUVNL) for Solar Power plants at Village: Nayka, Tal. Sami, District Patan in Gujarat.
October 08, 2010: Supplemental Power Purchase Agreement executed between the company & Gujarat Urja Vikas Nigam Limited (GUVNL) for Solar Power Plants at Village: Tikar, Tal. Muli, District Surendranagar in Gujarat.
February 27, 2012: Certificate of Commissioning received from Gujarat Energy Development Authority for Commissioned 10.25 MW capacity Solar Photovoltaic Power Project.
January 30, 2013: 100 KW Power Purchase Agreement executed between Company & Airport Authority of India for Solar Power Plants at Raja Bhoj Airport, Bhopal.
June 28, 2013: Certificate of Commissioning received from Airport Authority of India for Commissioned 100 KW capacity Solar Photovoltaic Power Project.
August 13, 2013: Incorporation of 100% subsidiary company for implementation of 10MW Power Project in the state of Karnataka.
September 3, 2013: Incorporation of subsidiary company for implementation of 4 MW Power Project in the state of Punjab.
March 13, 2014: Incorporation of subsidiary company for implementation of 4 MW Rooftop Power Project in the state of Gujarat.
June 7, 2016: Incorporation of subsidiary company for implementation of Power Project in the state of Karnataka
February 19, 2018: Converted in to a Public Limited from Private Limited.