Waaree Energies Ltd. (NSE: WAAREEENER) stands as one of India’s top solar energy companies and a driving force behind the nation’s renewable energy revolution. As of October 2025, the stock trades around ₹3,590–₹3,600, reflecting strong investor optimism fueled by rapid capacity expansion, robust export orders, and policy support through the Production-Linked Incentive (PLI) scheme.
In its FY26 Q2 results, Waaree Energies showcased exceptional growth:
- Revenue: ₹6,227 crore (↑70% YoY)
- EBITDA: ₹1,567 crore (↑155% YoY)
- PAT: ₹878 crore (↑134% YoY)
This stellar performance underscores Waaree’s industry leadership as India races toward its 500 GW renewable energy target by 2030.
In this article, we’ll dive into Waaree Energies’ fundamentals, financial strength, and year-wise share price targets from 2025 to 2050, offering valuable insights for both short-term traders and long-term renewable energy investors.
About the Company
Founded in 1989, Waaree Energies Ltd. operates in the solar energy manufacturing and EPC sector. The company manufactures solar PV modules, inverters, batteries, and EPC solutions for large-scale renewable projects.
- Headquarters: Mumbai, India
- Manufacturing Capacity: Over 16 GW (India) and 2.6 GW (U.S.) planned by FY26
- Business Segments: Solar Module Manufacturing, EPC Projects, Rooftop & Exports
- Global Presence: Exports to 68+ countries
Waaree is not only India’s largest solar module exporter but also a beneficiary of the global shift away from Chinese solar imports — a trend that continues to boost its revenue outlook.
Fundamental Analysis
1. Revenue & Profit Trends
- FY25 Revenue: ~₹15,000 crore
- FY26 Projection: ~₹23,900 crore (↑60%)
- PAT Projection: ₹3,000 crore (↑100%)
Waaree’s growth trajectory remains robust, driven by higher capacity utilization and global demand.
2. Valuation Metrics
- P/E Ratio: ~47x (Premium due to growth potential)
- ROE: ~24%
- EPS (FY26E): ₹133
3. Balance Sheet Strength
- Debt-free company with a strong cash surplus (~₹38,000 crore)
- Large capex of ₹6,000 crore planned for future expansion
- Book Value Per Share: ₹462
4. Shareholding Pattern (as of FY25)
| Category | Holding |
|---|---|
| Promoters | 72.4% |
| FIIs | 8.7% |
| DIIs | 11.2% |
| Public | 7.7% |
Promoter confidence and institutional interest reflect strong long-term trust in the company.
Past Stock Performance
Waaree Energies has delivered multibagger returns since its listing. Over the last two years, the stock surged from ₹1,200 to ₹3,600, fueled by revenue growth, export orders, and sector optimism. Investors have witnessed more than 200% gains, making it one of the best-performing renewable energy stocks in India.
Waaree Energies Share Price Target 2025-2050
| Year | Minimum (₹) | Average (₹) | Maximum (₹) |
|---|---|---|---|
| 2025 | 3,200 | 3,600 | 4,400 |
| 2026 | 3,800 | 4,200 | 4,800 |
| 2027 | 4,500 | 5,000 | 5,700 |
| 2028 | 5,200 | 5,800 | 6,600 |
| 2029 | 6,000 | 6,700 | 7,500 |
| 2030 | 7,000 | 7,800 | 8,800 |
| 2035 | 13,000 | 15,000 | 17,000 |
| 2040 | 25,000 | 29,000 | 34,000 |
| 2045 | 48,000 | 55,000 | 63,000 |
| 2050 | 80,000 | 90,000 | 95,000 |
Waaree Energies Share Price Target & Prediction 2025, 2026, 2027, 2028, 2029, 2030, 2035, 2040, 2045, and 2050
Waaree Energies Share Price Target 2025
In 2025, the company is expected to maintain strong order inflows and production capacity utilization. With favorable government policies and PLI incentives, the average target is ₹3,600, with bullish targets reaching ₹4,400.
Waaree Energies Share Price Target 2026
By FY26, Waaree’s expanded capacity (16 GW India + 2.6 GW USA) will start full operations. Expected revenue surge and rising exports could lift the stock to an average of ₹4,200 and a maximum of ₹4,800.
Waaree Energies Share Price Target 2027
Waaree’s brand recognition and international contracts will drive steady earnings. Margins are projected to improve, setting the average target at ₹5,000, with a bullish case up to ₹5,700.
Waaree Energies Share Price Target 2028
New solar plant launches and potential U.S. market expansion could make Waaree a top exporter. With this momentum, the stock could trade around ₹5,800–₹6,600.
Waaree Energies Share Price Target 2029
As India approaches its 500 GW renewable goal, Waaree’s valuation could see re-rating. Analysts expect an average price of ₹6,700 and a maximum of ₹7,500 by 2029.
Waaree Energies Share Price Target 2030
The company may achieve consistent 15%+ revenue CAGR through FY30. Improved profitability and new government contracts could push prices to ₹7,800–₹8,800.
Waaree Energies Share Price Target 2035
With sustained growth in domestic and export markets, Waaree could dominate the Asian solar space. The share may rise to ₹15,000 on average, with potential highs of ₹17,000.
Waaree Energies Share Price Target 2040
By 2040, technological leadership and diversified clean energy solutions (like storage & hydrogen) may elevate Waaree to ₹29,000 average levels, with possible highs up to ₹34,000.
Waaree Energies Share Price Target 2045
Long-term investors could see exponential growth as renewable penetration deepens. The price may touch ₹55,000 average, potentially ₹63,000 in a bullish market.
Waaree Energies Share Price Target 2050
By 2050, with India fully green-powered and Waaree’s global expansion across the U.S., Middle East, and Europe, the stock could trade between ₹80,000–₹95,000, rewarding patient investors immensely.
Growth Drivers
- Rapid expansion in solar module capacity (India & U.S.)
- Strong government policies & PLI incentives
- Rising global demand for non-Chinese solar modules
- High R&D investments and innovation
- Diversification into solar batteries & hydrogen energy
- Export-led revenue growth and brand dominance
Expert Views
- UBS: Target ₹4,400 (Buy)
- Nuvama: Target ₹3,646 (15% upside)
- Braveheart Capital: Target ₹4,105 (Buy)
- Consensus (24 Analysts): ₹3,541 average with “Hold” rating due to rich valuations
Experts believe Waaree is a long-term multibagger but advise cautious accumulation due to premium pricing.
Risks & Challenges
- Volatility in raw material prices (silicon, glass, etc.)
- High competition from global solar manufacturers
- Policy uncertainty or subsidy delays
- Valuation premium risk at current P/E levels
- Dependency on export market stability
Investment Suitability
Waaree Energies is best suited for:
- Long-term investors focusing on renewable energy themes
- ESG-focused portfolios
- Growth-oriented investors willing to hold 5–10 years
Short-term traders should be cautious due to valuation sensitivity, but long-term prospects remain highly promising.
FAQs
1. What will be Waaree Energies’ share price in 2030?
Waaree Energies’ share price could reach around ₹7,800–₹8,800 by 2030, based on steady revenue and profit growth.
2. Can Waaree Energies reach ₹10,000 by 2028?
It’s unlikely before 2028; however, post-2030, such levels are achievable if expansion and export growth continue as projected.
3. Is Waaree Energies good for long-term investment?
Yes, Waaree is fundamentally strong, debt-free, and part of a rapidly growing renewable energy sector—ideal for long-term investors.
4. What is the Waaree Energies share price target for 2050?
By 2050, the share could trade between ₹80,000–₹95,000, assuming steady earnings CAGR of 14–16%.
Conclusion
Waaree Energies Ltd. stands as a symbol of India’s clean energy ambition. With strong fundamentals, global demand, and expansion capacity, the company is poised for consistent long-term growth. While the stock is richly valued, investors with patience and vision could see multifold returns by 2050.
Sources
- Waaree Energies Faniancial Reports
- Renewable Energy Ministry Reports (India)
