Waaree Technologies Ltd (WAAREE) Share Price & Fundamentals

What we do

Waaree Technologies Ltd manufactures batteries for industrial and consumer markets, focusing on energy storage and electric vehicle sectors.

Founded in

1,993

Market share

Emerging player in India's growing battery manufacturing sector with strategic acquisitions to enhance capabilities.

Problem solved

Provides advanced energy storage solutions to support renewable energy adoption and electric mobility growth.

Top clients or who we serve

Serves industrial customers and consumer segments including electric vehicle and energy storage system markets. B2B and B2C focus.

Key management

Chairman and Managing Director: Mr. Kirit Chimanlal Doshi; Executive Director & CFO: Mr. Rushabh Pankaj Doshi; Independent Directors include Mr. Jayesh Dhirajlal Shah.

Our journey and innovations

Started as adhesive tape manufacturer, pivoted to battery manufacturing and energy storage with acquisition of Waaree ESS battery business in 2022-23.

Where we operate

Primarily operates in India with focus on expanding within domestic EV and renewable energy sectors.

Top products or what we offer

Batteries including lithium-ion and energy storage systems; also traded PV tapes and adhesive products earlier.

Top brands

Waaree battery products post-acquisition of Waaree ESS business; no specific brand names disclosed.

Raw materials needed

Battery cells and related raw materials for manufacturing and assembly.

Raw materials supplier

Information not specified publicly.

Recurring vs cyclical contribution

Revenue primarily from product sales; subject to market demand cycles in EV and energy storage sectors.

Our industry position

Positioned as a growing manufacturer in India's battery sector with strategic focus on lithium-ion and BESS.

Financial highlights

FY 2024-25 Revenue Rs. 10.45 Cr; Net loss Rs. 5.65 Cr; improved from previous year losses.

Geographical revenue split

Revenue primarily from domestic Indian market; no specific international split provided.

Order book

-

Whats driving growth

Government policies promoting EVs, renewable energy, FAME-II, and PLI schemes.

Our future plans

Expand lithium-ion battery and energy storage offerings; optimize production and diversify product mix.

Our green promise

Committed to safer and environmentally friendly production processes with investments in process automation.

Our people and values

Committed to safety, ethical governance, and inclusive workplace; zero incidents of harassment reported.

Key challenges ahead

High input costs, underutilized production capacity, slower market traction than expected.

Interesting facts

Converted from adhesive tape business to advanced battery manufacturing with recent strategic acquisition.

Risks and strategy

Risks include cost pressures and market adoption; strategy focuses on technology upgrades and cost optimization.