Reported Earnings • May 31
Full year 2026 earnings released: ₹3.88 loss per share (vs ₹5.25 loss in FY 2025) Full year 2026 results: ₹3.88 loss per share (improved from ₹5.25 loss in FY 2025). Revenue: ₹74.5m (down 27% from FY 2025). Net loss: ₹41.8m (loss narrowed 26% from FY 2025). Over the last 3 years on average, earnings per share has fallen by 13% per year whereas the company’s share price has fallen by 9% per year. Announcement • May 24
Waaree Technologies Limited to Report Second Half, 2026 Results on May 29, 2026 Waaree Technologies Limited announced that they will report second half, 2026 results on May 29, 2026 New Risk • Apr 08
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Indian stocks, typically moving 11% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-₹19m free cash flow). Share price has been highly volatile over the past 3 months (11% average weekly change). Negative equity (-₹36m). Earnings have declined by 60% per year over the past 5 years. Revenue is less than US$1m (₹87m revenue, or US$947k). Minor Risk Market cap is less than US$100m (₹1.98b market cap, or US$21.4m). New Risk • Jan 22
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 7.2% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-₹19m free cash flow). Negative equity (-₹36m). Earnings have declined by 60% per year over the past 5 years. Revenue is less than US$1m (₹87m revenue, or US$955k). Minor Risks Share price has been volatile over the past 3 months (7.2% average weekly change). Market cap is less than US$100m (₹2.05b market cap, or US$22.4m). Reported Earnings • Nov 19
First half 2026 earnings released: ₹1.60 loss per share (vs ₹2.43 loss in 1H 2025) First half 2026 results: ₹1.60 loss per share (improved from ₹2.43 loss in 1H 2025). Revenue: ₹41.1m (down 27% from 1H 2025). Net loss: ₹17.2m (loss narrowed 34% from 1H 2025). Over the last 3 years on average, earnings per share has fallen by 49% per year but the company’s share price has increased by 15% per year, which means it is well ahead of earnings. Announcement • Nov 08
Waaree Technologies Limited to Report Q2, 2026 Results on Nov 13, 2025 Waaree Technologies Limited announced that they will report Q2, 2026 results on Nov 13, 2025 Reported Earnings • Sep 09
Full year 2025 earnings released: ₹5.25 loss per share (vs ₹6.97 loss in FY 2024) Full year 2025 results: ₹5.25 loss per share (improved from ₹6.97 loss in FY 2024). Revenue: ₹102.4m (down 64% from FY 2024). Net loss: ₹56.5m (loss narrowed 25% from FY 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 106 percentage points per year, which is a significant difference in performance. Announcement • Aug 19
Waaree Technologies Limited, Annual General Meeting, Sep 26, 2025 Waaree Technologies Limited, Annual General Meeting, Sep 26, 2025. New Risk • Apr 25
New major risk - Negative shareholders equity The company has negative equity. Total equity: -₹19m This is considered a major risk. Being in negative equity means that the company's liabilities exceed its assets, meaning it owes more to creditors than it has in owned assets. While this doesn't mean the company is about to collapse, in the long-term, this is unsustainable. The company may have issues meeting financial obligations, is at risk of becoming insolvent and may have difficulty raising capital, especially more debt, if needed. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-₹21m free cash flow). Negative equity (-₹19m). Earnings have declined by 71% per year over the past 5 years. Minor Risks Revenue is less than US$5m (₹105m revenue, or US$1.2m). Market cap is less than US$100m (₹3.59b market cap, or US$42.0m). Reported Earnings • Apr 25
Full year 2025 earnings released: ₹5.25 loss per share (vs ₹6.97 loss in FY 2024) Full year 2025 results: ₹5.25 loss per share (improved from ₹6.97 loss in FY 2024). Revenue: ₹104.5m (down 63% from FY 2024). Net loss: ₹56.5m (loss narrowed 25% from FY 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 127 percentage points per year, which is a significant difference in performance. Announcement • Apr 21
Waaree Technologies Limited to Report Second Half, 2025 Results on Apr 24, 2025 Waaree Technologies Limited announced that they will report second half, 2025 results on Apr 24, 2025 Announcement • Mar 06
Waaree Technologies Limited Announces Board Appointments Waaree Technologies Limited announced that based on the recommendation of the Nomination and Remuneration Committee, the Board of Directors of the Company approved the appointment of Mr. Mitul Chandulal Mehta, DIN: 03434692 as an Additional Director (Non- Executive Independent Director) of the Company with effect from March 06, 2025. Approved the appointment of Ms. Anita Jaiswal, DIN: 08485642 as an Additional Director (Non- Executive Independent Director) of the Company with effect from March 06, 2025. Mr. Mitul Chandulal Mehta holds Bachelor's degree in Commerce from Mumbai University, he is having more than 25 years of experience in the field of production. Ms. Anita Jaiswal holds bachelor's degree in law. She is also an Associate member of the Institute of Company Secretaries of India. She is having experience of more than 9 years in field of legal, compliance and secretarial matters. Announcement • Feb 14
Waaree Technologies Limited Announces Resignation of Rajender Mohan Malla as Independent Director and Cease to Be A Member of the Nomination and Remuneration Committee Waaree Technologies Limited announced that Mr. Rajender Mohan Malla has tendered his resignation from the position of Independent Director of the Company with effect from the close of business hours on February 13, 2025 due to other commitments and personal reasons. Consequently, he shall also cease to be a Member of the Nomination and Remuneration Committee of the Company. New Risk • Jan 21
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 7.6% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-₹29m free cash flow). Earnings have declined by 79% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (7.6% average weekly change). Revenue is less than US$5m (₹206m revenue, or US$2.4m). Market cap is less than US$100m (₹4.78b market cap, or US$55.2m). Announcement • Nov 05
Waaree Technologies Limited to Report First Half, 2025 Results on Nov 11, 2024 Waaree Technologies Limited announced that they will report first half, 2025 results on Nov 11, 2024 New Risk • Oct 29
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₹8.23b (US$97.8m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-₹151m free cash flow). Earnings have declined by 80% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (9.0% average weekly change). Revenue is less than US$5m (₹285m revenue, or US$3.4m). Market cap is less than US$100m (₹8.23b market cap, or US$97.8m). New Risk • Oct 03
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Indian stocks, typically moving 9.3% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-₹151m free cash flow). Share price has been highly volatile over the past 3 months (9.3% average weekly change). Earnings have declined by 80% per year over the past 5 years. Minor Risk Revenue is less than US$5m (₹285m revenue, or US$3.4m). Board Change • Sep 21
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 6 experienced directors. No highly experienced directors. 3 independent directors (4 non-independent directors). Non- Executive & Independent Director Jayesh Shah was the last independent director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Announcement • Aug 29
Waaree Technologies Limited, Annual General Meeting, Sep 27, 2024 Waaree Technologies Limited, Annual General Meeting, Sep 27, 2024, at 15:30 Indian Standard Time. Announcement • Apr 29
Waaree Technologies Limited to Report Second Half, 2024 Results on May 03, 2024 Waaree Technologies Limited announced that they will report second half, 2024 results on May 03, 2024 Reported Earnings • Nov 13
First half 2024 earnings released: ₹1.85 loss per share (vs ₹0.14 profit in 1H 2023) First half 2024 results: ₹1.85 loss per share (down from ₹0.14 profit in 1H 2023). Revenue: ₹135.0m (up 80% from 1H 2023). Net loss: ₹19.9m (down ₹21.4m from profit in 1H 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 295 percentage points per year, which is a significant difference in performance. New Risk • Nov 11
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -₹120m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-₹120m free cash flow). Earnings have declined by 59% per year over the past 5 years. Minor Risks Revenue is less than US$5m (₹355m revenue, or US$4.3m). Market cap is less than US$100m (₹4.85b market cap, or US$58.2m). Announcement • Sep 20
Waaree Technologies Limited Appoints Ankit Hitesh Doshi as the President (Sales) Waaree Technologies Limited announced that Mr. Ankit Hitesh Doshi has been appointed as the President (Sales) in the Company with effect from September 01, 2023. Mr. Ankit Hitesh Doshi is MBA and B. tech from Narsee Monjee Institute of Management Studies. He has been associated with Waaree Group for more than 10 years. He is having good experience in the field of Energy Storage System for more than 3 years. Reported Earnings • Aug 20
Full year 2023 earnings released: ₹1.01 loss per share (vs ₹0.23 profit in FY 2022) Full year 2023 results: ₹1.01 loss per share (down from ₹0.23 profit in FY 2022). Revenue: ₹294.0m (up 124% from FY 2022). Net loss: ₹10.9m (down ₹12.7m from profit in FY 2022). Board Change • Jul 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. No highly experienced directors. Non- Executive & Independent Director Jayesh Shah was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • May 19
Waaree Technologies Limited to Report Q4, 2023 Results on May 22, 2023 Waaree Technologies Limited announced that they will report Q4, 2023 results on May 22, 2023 Announcement • May 04
Waaree Technologies Limited Appoints CS Vibhor Kumawat as Company Secretary and Compliance Officer The board of directors of Waaree Technologies Limited meeting held on April 29, 2023, CS Vibhor Kumawat having Membership Number A55710, has been appointed as a Company Secretary and Compliance Officer of the Company, with effect from April 29, 2023. He has good knowledge in secretarial functions. He has experience of more than 4 years working with listed companies. Announcement • Oct 17
Waaree Technologies Limited Announces Resignation of Ankita Agarwal as Company Secretary and Compliance Officer Waaree Technologies Limited announced that Ms. Ankita Agarwal, Company Secretary and Compliance Officer of the Company has resigned with effect from October 15, 2022 due to personal reasons. Announcement • Oct 14
Waaree Technologies Limited to Report First Half, 2023 Results on Oct 20, 2022 Waaree Technologies Limited announced that they will report first half, 2023 results on Oct 20, 2022 Announcement • Sep 03
Waaree Technologies Limited, Annual General Meeting, Sep 30, 2022 Waaree Technologies Limited, Annual General Meeting, Sep 30, 2022, at 11:30 Indian Standard Time. Recent Insider Transactions • Jul 16
Chairman & MD recently sold ₹48m worth of stock On the 14th of July, Kirit Doshi sold around 529k shares on-market at roughly ₹90.00 per share. This was the largest sale by an insider in the last 3 months. This was Kirit's only on-market trade for the last 12 months. Announcement • May 23
Waaree Technologies Limited to Report Second Half, 2022 Results on May 30, 2022 Waaree Technologies Limited announced that they will report second half, 2022 results on May 30, 2022 Announcement • Aug 15
Waaree Technologies Limited announced that it has received INR 85.000068 million in funding On August 14, 2021, Waaree Technologies Limited closed the transaction. The shares are subject to a lock-up period. Post to the transaction, the equity share capital of the company has increased from INR 36,848,000 to INR 107,681,390. Executive Departure • Jul 13
Company Secretary & Compliance Officer Nikunj Gatecha has left the company On the 1st of July, Nikunj Gatecha's tenure as Company Secretary & Compliance Officer ended. We don't have any record of a personal shareholding under Nikunj's name. Nikunj is the only executive to leave the company over the last 12 months. The current median tenure of the management team is 5.42 years. Is New 90 Day High Low • Feb 12
New 90-day high: ₹17.05 The company is up 20% from its price of ₹14.25 on 13 November 2020. The Indian market is up 22% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Chemicals industry, which is up 17% over the same period. 