Waa Solar Ltd. is an India-based power generation company primarily engaged in the production of solar energy in Karnataka, Punjab, and Gujarat. It was incorporated under the provisions on November 9, 2009 in Mumbai, Maharashtra. In September 2013, the company moved its registered office to Vadodara, Gujarat.
On February 19, 2018, Waa Solar Ltd. went public, listing its shares on the Bombay Stock Exchange (BSE), where it was allotted the scrip number of 541445. As of March 31, 2022, Waa Solar Ltd. has a market capitalisation of Rs. 54.39 crore. Waa Solar Ltd. share price was Rs. 40.65 as of the same date. Waa Solar share price hit a 52-week high of Rs. 62.30 and recorded a 52-week low of Rs. 21.75. Waa Solar shares had a price to earnings ratio of 13.2 as of March 31, 2022.
Waa Solar Ltd. has three Special Purpose Vehicles (SPV) that implement solar power projects in Karnataka, Punjab, and Gujarat. The Madhav Solar (Karnataka) Private Limited (MSKPL) power plant has a capacity of 10MW and is engaged in setting up of a solar photovoltaic grid interactive power plant at Sira Taluk, Tumur District. Waa Solar Ltd. has a stake of 66.69% in the SPV.
Madhav Solar Private Limited (MSPL) is the company’s wholly-owned subsidiary in Punjab, with a total capacity of 4MW. The company has entered into a 25-year Power Purchase Agreement (PPA) with Punjab State Power Corporation Ltd. to set up a solar photovoltaic grid interactive power plant at Buha, Tehsil Budhlada, Dist. Mansa.
The Madhav Solar (Vadodar Rooftop) Private Limited (MSVRPL) is the company’s third SPV, located in Gujarat. It has a capacity of 4MW. Waa Solar Ltd. has a stake of 51% in the SPV. The company has entered into a PPA with Madhya Gujarat Vij Company Limited to set up a solar photovoltaic grid interactive power plant in Vadodara.
Waa Solar Ltd. reported a total revenue of Rs. 25.44 crore in the financial year 2020-21, compared to Rs. 36.24 crore in the previous financial year. The profit for the financial year 2020-21 was Rs. 3.31 crore compared to Rs. 10.29 crore in the previous year. Waa Solar Ltd. shares had an earnings per share (EPS) of Rs. 4.98 in the financial year 2021-22, compared to Rs. 15.51 in the previous financial year.
Disclaimer:- ICICI Securities Ltd. (I-Sec). Registered office of I-Sec is at ICICI Securities Ltd. - ICICI Venture House, Appasaheb Marathe Marg, Prabhadevi, Mumbai - 400 025, India, Tel No : 022 - 6807 7100. I-Sec is a Member of National Stock Exchange of India Ltd (Member Code :07730), BSE Ltd (Member Code :103) and Member of Multi Commodity Exchange of India Ltd. (Member Code: 56250) and having SEBI registration no. INZ000183631. Name of the Compliance officer (broking): Mr. Anoop Goyal, Contact number: 022-40701000, E-mail address: email@example.com. Investment in securities market are subject to market risks, read all the related documents carefully before investing. The contents herein above shall not be considered as an invitation or persuasion to trade or invest. I-Sec and affiliates accept no liabilities for any loss or damage of any kind arising out of any actions taken in reliance thereon. The contents herein above are solely for informational purpose and may not be used or considered as an offer document or solicitation of offer to buy or sell or subscribe for securities or other financial instruments or any other product. Investors should consult their financial advisers whether the product is suitable for them before taking any decision. The contents herein mentioned are solely for informational and educational purpose.