Waaree Subsidiaries Ki Toofani Tezi! Budget 2026 Ne Ki Solar Companies Ki Chaandi, Do Small-Caps Chhaye

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AuthorAnanya Iyer|Published at:
Waaree Subsidiaries Ki Toofani Tezi! Budget 2026 Ne Ki Solar Companies Ki Chaandi, Do Small-Caps Chhaye
Overview

Bhai log, Budget 2026 mein solar sector ke liye paisa barsa hai, over **₹30,000 crore**! Isse India ki manufacturing ko tagda push milne wala hai. Aur issi beech, Waaree Group ki do choti companies, Indosolar aur Waaree Renewable Technologies, market mein kamaal kar rahi hain. Investors inke numbers aur growth par nazar rakh rahe hain.

Budget Ka Bada Impact!

Budget 2026 mein sarkar ne solar sector ke liye ₹30,000 crore se bhi zyada ka fund announce kiya hai. Ye sirf paisa nahi, ye India ko solar power mein 'Atmanirbhar Bharat' banane ka bada plan hai. Local manufacturing badhane ke liye raw materials par taxes bhi kam kiye gaye hain. Bade players toh headline mein hain hi, par asli magic toh in choti, specialized companies mein ho raha hai.

Indosolar Ka Turnaround Story!

Chalo sabse pehle Indosolar Ltd ki baat karte hain. Yeh solar photovoltaic cells banane wali company hai aur iska turnaround story ekdum zabardast hai. Waaree Energies ne ise NCLT process se acquire kiya tha, aur tab se iska game hi change ho gaya hai. June 2025 mein re-list hone ke baad, iska ROCE (Return on Capital Employed) 77% par pahunch gaya hai, jo industry median 28% se bahut hi zyada hai. Aur debt? Almost zero hai, debt-to-equity ratio sirf 0.02 hai! FY20 mein jahan sales ₹0 thi, woh FY25 mein ₹324 crore ho gayi aur FY26 ke pehle teen quarter mein hi ₹600 crore cross kar gayi hai. EBITDA bhi positive hua hai, ₹95 crore FY25 mein aur ₹206 crore 3 Qtr FY26 mein. Net profit bhi loss se nikal kar ₹55 crore (FY25) aur ₹204 crore (3 Qtr FY26) par aa gaya hai. Share price kaafi run up dikha chuka hai, jo 2021 mein around ₹2.5 tha, woh ab ₹434 (Feb 6, 2026) ho gaya hai. PE ratio sirf 7x hai, jabki industry ka median 40x hai. Lagta hai abhi bhi yahan upside hai.

Waaree Renewable Technologies: EPC Ka Baadshah!

Ab baat karte hain Waaree Group ki hi dusri powerhouse, Waaree Renewable Technologies Ltd ki. Yeh company Solar EPC (Engineering, Procurement, Construction) business mein number one hai. Iska ROCE bhi 82% hai, jo industry average 20% se bahut aage hai. Debt-to-equity ratio bhi low hai, 0.12. Growth toh iski speciality hai – sales FY20 mein sirf ₹6 crore thi, woh FY25 mein ₹1,598 crore ho gayi (CAGR 209%)! FY26 ke pehle teen quarter mein hi ₹2,229 crore ka sales aa gaya hai. EBITDA mein bhi 215% ka CAGR dikhaya hai, figures ₹311 crore (FY25) se ₹435 crore (3 Qtr FY26) tak pahunche hain. Profit bhi pehle loss tha (FY20 mein ₹3 crore ka loss), lekin ab nikal kar ₹229 crore (FY25) aur ₹322 crore (Q3FY26) par aa gaya hai. Share price ₹6 (Feb 2021) se ₹901 (Feb 6, 2026) tak pahunch gaya hai. Halanki, PE ratio 24x hai, jo industry median 27x ke aas paas hai, par iske paas ₹3,500 crore se zyada ka unexecuted order book hai. Matlab, aane wale time mein bhi revenue ki tension nahi hai.

Valuation Aur Future Outlook!

Overall dekha jaaye toh Indosolar aur Waaree Renewable dono hi Indian solar market ke badhte trend mein solid position par hain. Budget ka support, government ki policies, aur in companies ke khud ke zabardast financials aur order book dekh kar lagta hai ki yeh stocks investors ke liye achhe mauke ho sakte hain. Current valuation dekh kar lagta hai ki market shayad inki asli potential ko abhi poori tarah se nahi samajh paya hai, jo entry ke liye ek achha point ho sakta hai.

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