About Waaree Technologies Limited
Data last updated: 29 September 2026
Waaree Technologies Limited is a public limited company based in Mumbai, Maharashtra, India. It specialises in industrial packaging solutions, a part of the broader packaging sector. Incorporated on 28 June 2013, the company has been in operation for over 13 years.
Registered with ROC Mumbai under CIN L74110MH2013PLC244911. Listed on BSE: 539337.
Capital: an authorised share capital of ₹12 Cr and a paid-up capital of ₹10.77 Cr. Formerly known as H.K. Trade International Limited. It is led by directors including Rushabh Pankaj Doshi and Kirit Chimanlal Doshi.
Last AGM: 26 September 2025. Financial statements filed for year ended 31 March 2025. Office: 602 Western Edge I Western Express Highway Borivali East Mumbai 400066, Maharashtra, India – 400066.
As per the latest standalone financials for FY 2025-26, the company reported a revenue of ₹7.13 Cr, a decline of 30.37% compared to the previous year. Total assets are valued at ₹15.16 Cr (down 4.77% YoY).
The company is associated with 2 brands - Waaree Energies, H.K. Trade International.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website hktrade.in.
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Registered Address602 Western Edge I Western Express Highway Borivali East Mumbai 400066, Maharashtra, India – 400066
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IndustryPackaging, Industrial Packaging Solutions
- Historical Financials and ratios
- Shareholding pattern and group structure
- Charges with holder and property details
- Litigation, compliance and MCA filings
- PDF report delivered after checkout
CIN History of Waaree Technologies Limited
Waaree Technologies Limited has 3 previous CINs, indicating changes in the company's corporate structure or registration details. The current CIN is L74110MH2013PLC244911, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| L74110MH2013PLC244911 | Current |
| U25203MH2013PLC244911 | Previous |
| L31100MH2013PLC244911 | Previous |
| L25203MH2013PLC244911 | Previous |
Associated Brands with Waaree Technologies Limited
Waaree Technologies Limited operates two associated brands: Waaree Energies and H.K. Trade International. These brands represent Waaree Technologies Limited's diversified market presence and brand portfolio.
| Brand | Description | Website |
|---|---|---|
| Manufacturer of solar PV modules | waaree.com | |
| Adhesive and non-adhesive tapes, labels, and papers are manufactured. | hktrade.in |
Competitors & Alternatives of Waaree Technologies Limited
Brands and companies operating in the same space as Waaree Technologies Limited include Trina Solar, Kyocera, Navitas Solar and 5 more.
| Competitor | Description | Location | Founded |
|---|---|---|---|
Trina Solar
|
Photovoltaic cells for PV and smart energy solutions are developed. | San Jose, United States, United States | 1997 |
Kyocera
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Kyocera is engaged in providing technology solutions globally. | Horse Shoe, United States, United States | 1959 |
Navitas Solar
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Manufacturer of solar panel | Surat, India, India | 2013 |
Su-Kam Power Systems
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Solar panels and power storage products are manufactured. | Gurugram, India, India | 1988 |
Emmvee
|
Manufactures solar panels, water heaters, and turnkey solutions for renewable energy. | Bengaluru, India, India | 1992 |
HHV Solar Technologies
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PV modules are manufactured by HHV Solar Technologies in India. | Bengaluru, India, India | 2008 |
Mose Solar
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PV modules, solar tiles, and related solar products are manufactured. | Delhi, India, India | 1983 |
Saatvik Green Energy
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Manufactures solar modules and offers EPC services for renewable energy projects in India. | Ambala, India, India | 2015 |
Business Activity of Waaree Technologies Limited
Waaree Technologies Limited is engaged in the principal business activity of manufacturing, with detailed activities including electrical equipment, general purpose and special purpose machinery & equipment, transport equipment.
| Main Activity Group Code | Description of Main Activity | Business Activity Code | Description of Business Activity | Turnover Percentage |
|---|---|---|---|---|
| C | Manufacturing | C10 | Electrical equipment, General Purpose and Special purpose Machinery & equipment, Transport equipment | Locked |
Business activity turnover details for Waaree Technologies Limited
Turnover contribution percentages and historical activity changes require an active report plan.
- Turnover contribution
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Auditor Details of Waaree Technologies Limited
Waaree Technologies Limited is audited by R T Jain & Co. LLP for the financial year 2023. The auditor plays a crucial role in ensuring financial transparency and compliance with accounting standards.
| Name | Status | Appointment Date | Cessation Date |
|---|---|---|---|
| R T Jain & Co. LLP | Locked | Locked | Locked |
Complete auditor history for Waaree Technologies Limited
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Board of Directors of Waaree Technologies Limited
Waaree Technologies Limited is currently managed by 6 directors, with 14 former directors having served the organization. The current Directors play a crucial role in shaping the company's strategic direction and governance.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Rushabh Pankaj Doshi | Director | 24 Oct 2018 | 7 Years 11 Months | Current |
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Kirit Chimanlal Doshi
Also directs:
Vedaang Solar Llp, Waaree Green Glass Private Limited, Omntec Waaree Atg Pvt. Ltd. and 3 more
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Managing Director | 24 Oct 2018 | 7 Years 11 Months | Current |
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Jayesh Dhirajlal Shah
Also directs:
Indosolar Limited
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Director | 18 Jun 2020 | 6 Years 3 Months | Current |
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Mitul Chandulal Mehta
Also directs:
Itec Measures Private Limited
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Director | 06 Mar 2025 | 1 Years 6 Months | Current |
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Anita Jaiswal
Also directs:
Indosolar Limited
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Director | 06 Mar 2025 | 1 Years 6 Months | Current |
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Vivek Srivastava
Also directs:
Ojah Sustinere Private Limited, Suzlon Western India Projects Limited, Suzlon Southern Projects Limited and 1 more
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Director | 08 Aug 2023 | 3 Years 1 Months | Current |
Financials of Waaree Technologies Limited FY 2025-26 filings available
Waaree Technologies Limited reported revenue of ₹7.13 Cr (down 30.37% YoY) for FY 2025-26.
Financial Highlights
FY 2025-26 · StandaloneRevenue vs Net Profit ₹ Cr
Margin trends
Financial summary ₹ Cr
| Metrics | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Income statement | |||||||
| Revenue | 7.13 | 10.24 | 28.55 | 29.40 | 13.13 | 0.00 | (0.76) |
| Revenue growth | -31.9% | -56.8% | +19.6% | +130.5% | +4614.3% | +9998.0% | - |
| EBITDA | (3.57) | (5.47) | (7.84) | (1.03) | (0.07) | (0.28) | (0.21) |
| EBITDA margin | -50.1% | -53.4% | -27.5% | -3.5% | -0.5% | - | +27.6% |
| Profit before tax | (5.58) | (7.53) | (9.89) | (1.46) | 0.25 | (0.23) | (0.13) |
| Net profit | (4.20) | (5.65) | (7.50) | (1.07) | 0.18 | (0.14) | (0.13) |
| Net profit margin | -58.9% | -55.2% | -26.3% | -3.6% | +1.4% | - | +17.1% |
| EPS (₹) | (3.88) | (5.25) | (6.97) | (1.01) | 0.17 | (0.38) | (0.52) |
| Balance sheet | |||||||
| Total assets | 15.16 | 15.92 | 21.76 | 14.36 | 12.33 | 3.80 | 3.80 |
| Net worth | (6.09) | (1.91) | 3.74 | 11.24 | 12.33 | 3.65 | 3.79 |
| Total debt | 21.11 | 17.66 | 17.85 | 3.05 | 0.00 | 0.15 | 0.00 |
| Cash & bank | 2.27 | 1.96 | 4.21 | 4.53 | 1.24 | 3.30 | 0.01 |
| Net working capital | 6.34 | 6.73 | 12.64 | 5.51 | 12.09 | 3.54 | 3.76 |
| Cash flow | |||||||
| Cash from operations | (2.48) | (1.74) | (15.12) | 9.15 | (10.49) | 3.24 | 0.09 |
| Cash from investing | (0.07) | (0.23) | 0.22 | (8.87) | 0.13 | (0.10) | 0.09 |
| Cash from financing | 2.85 | (0.27) | 14.57 | 3.01 | 8.30 | 0.15 | (0.38) |
Financial Statements
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Revenue | 7.13 | 10.24 | 28.55 | 29.40 | 13.13 | 0.00 | (0.76) |
| Revenue growth | -31.9% | -56.8% | +19.6% | +130.5% | +4614.3% | +9998.0% | - |
| Other income | 0.32 | 0.22 | 0.36 | 0.32 | 0.36 | 0.05 | 0.10 |
| Total expenses | 10.70 | 15.71 | 36.39 | 30.43 | 13.20 | 0.28 | (0.55) |
| Employee cost | 1.71 | 3.45 | 3.42 | 0.84 | 0.03 | 0.03 | 0.05 |
| EBITDA | (3.57) | (5.47) | (7.84) | (1.03) | (0.07) | (0.28) | (0.21) |
| EBITDA margin | -50.1% | -53.4% | -27.5% | -3.5% | -0.5% | - | +27.6% |
| Depreciation | 1.73 | 2.19 | 2.18 | 0.68 | 0.00 | 0.00 | 0.01 |
| Interest | 0.60 | 0.09 | 0.23 | 0.07 | 0.04 | 0.00 | 0.01 |
| Profit before tax | (5.58) | (7.53) | (9.89) | (1.46) | 0.25 | (0.23) | (0.13) |
| Tax | (1.38) | (1.88) | (2.39) | (0.39) | 0.07 | (0.09) | 0.00 |
| Net profit | (4.20) | (5.65) | (7.50) | (1.07) | 0.18 | (0.14) | (0.13) |
| Net profit margin | -58.9% | -55.2% | -26.3% | -3.6% | +1.4% | - | +17.1% |
| EPS (₹) | (3.88) | (5.25) | (6.97) | (1.01) | 0.17 | (0.38) | (0.52) |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Equity & liabilities | |||||||
| Share capital | 10.77 | 10.77 | 10.77 | 10.77 | 10.77 | 3.68 | 2.63 |
| Reserves & surplus | (16.86) | (12.68) | (7.03) | 0.47 | 1.56 | (0.03) | 1.16 |
| Shareholders' funds (net worth) | (6.09) | (1.91) | 3.74 | 11.24 | 12.33 | 3.65 | 3.79 |
| Secured loans | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Unsecured loans | 21.11 | 17.66 | 17.85 | 3.05 | 0.00 | 0.15 | 0.00 |
| Total debt | 21.11 | 17.66 | 17.85 | 3.05 | 0.00 | 0.15 | 0.00 |
| Total liabilities | 15.16 | 15.92 | 21.76 | 14.36 | 12.33 | 3.80 | 3.80 |
| Assets | |||||||
| Gross block | 9.21 | 9.01 | 8.64 | 8.16 | 0.02 | 0.02 | 0.01 |
| Net block | 2.42 | 3.95 | 5.77 | 7.47 | 0.01 | 0.01 | 0.00 |
| Capital work in progress | 0.00 | 0.21 | 0.21 | 0.75 | 0.00 | 0.00 | 0.00 |
| Investments | 0.20 | 0.20 | 0.20 | 0.20 | 0.20 | 0.15 | 0.00 |
| Inventories | 2.09 | 3.12 | 5.70 | 13.15 | 0.08 | 0.08 | 0.08 |
| Sundry debtors | 0.11 | 0.00 | 0.11 | 0.30 | 8.87 | 0.00 | 0.00 |
| Cash & bank balances | 2.27 | 1.96 | 4.21 | 4.53 | 1.24 | 3.30 | 0.01 |
| Loans & advances | 4.50 | 5.23 | 5.66 | 6.09 | 2.04 | 0.20 | 3.69 |
| Total current assets | 8.97 | 10.31 | 15.68 | 24.07 | 12.23 | 3.58 | 3.78 |
| Total current liabilities | 2.63 | 3.58 | 3.04 | 18.56 | 0.14 | 0.04 | 0.02 |
| Net working capital | 6.34 | 6.73 | 12.64 | 5.51 | 12.09 | 3.54 | 3.76 |
| Total assets | 15.16 | 15.92 | 21.76 | 14.36 | 12.33 | 3.80 | 3.80 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Opening cash | 1.96 | 4.21 | 4.53 | 1.24 | 3.30 | 0.01 | 0.21 |
| Net cash from operating activities | (2.48) | (1.74) | (15.12) | 9.15 | (10.49) | 3.24 | 0.09 |
| Net cash from investing activities | (0.07) | (0.23) | 0.22 | (8.87) | 0.13 | (0.10) | 0.09 |
| Net cash from financing activities | 2.85 | (0.27) | 14.57 | 3.01 | 8.30 | 0.15 | (0.38) |
| Net change in cash | 0.30 | (2.25) | (0.32) | 3.29 | (2.06) | 3.29 | (0.20) |
| Closing cash | 2.27 | 1.96 | 4.21 | 4.53 | 1.24 | 3.30 | 0.01 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Growth | |||||||
| Sales growth | -30.4% | -64.1% | -2.9% | +123.9% | +9997.0% | +9997.0% | - |
| EBITDA growth | +34.7% | +30.2% | -661.2% | -1371.4% | +75.0% | -33.3% | -10.5% |
| PBT growth | +25.9% | +23.9% | -577.4% | - | +9998.0% | -76.9% | -30.0% |
| Net income growth | +25.7% | +24.7% | -600.9% | - | +9998.0% | -7.7% | -62.5% |
| Revenue CAGR (3Y) | -37.6% | -8.0% | - | - | +107.5% | -100.0% | - |
| EBITDA CAGR (3Y) | +51.3% | +327.5% | +203.7% | +69.9% | -28.3% | - | - |
| Profitability & leverage | |||||||
| Net income margin | -58.9% | -55.2% | -26.3% | -3.6% | +1.4% | - | +17.1% |
| Return on capital employed | 0.0% | 0.0% | 0.0% | 0.0% | +3.7% | 0.0% | -3.2% |
| Return on net worth | 0.0% | 0.0% | 0.0% | 0.0% | +2.4% | 0.0% | -3.6% |
| Debt / equity | 0.00 | 19.40 | 1.39 | 0.13 | 0.01 | 0.02 | 0.05 |
| Long-term debt / equity | 0.00 | 7.46 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Interest cover | -11.32 | -1.17 | -2.30 | -4.09 | -57.14 | 0.00 | -4.55 |
| Efficiency & per share | |||||||
| Fixed asset turnover | 0.78 | 1.16 | 3.40 | 7.19 | 656.50 | 0.00 | 0.00 |
| Inventory turnover | 2.74 | 2.32 | 3.03 | 4.44 | 164.13 | 0.00 | 0.00 |
| Debtors turnover | 129.64 | 186.18 | 139.27 | 6.41 | 2.96 | 0.00 | 0.00 |
| EPS (₹) | (3.88) | (5.25) | (6.97) | (1.01) | 0.17 | (0.38) | (0.52) |
| Dividend per share (₹) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Book value per share (₹) | (5.65) | (1.77) | 3.47 | 10.44 | 11.45 | 9.92 | 14.42 |
Shareholding Pattern of Waaree Technologies Limited
As per the shareholding pattern for the quarter ended Jun 2026, promoters hold 58.80%, foreign institutional investors hold 0.00%, domestic institutional investors hold 0.00%, retail and other public shareholders hold 41.20% of Waaree Technologies Limited.
| Jun 2026 | Mar 2026 | Dec 2025 | |
|---|---|---|---|
| Promoters | 58.80% | 58.80% | 58.80% |
| Public | 41.20% | 41.20% | 41.20% |
Charges & Borrowings Waaree Technologies Limited
Waaree Technologies Limited does not have any charges (loans) registered with the Registrar of Companies.
Employees and EPFO Compliance at Waaree Technologies Limited
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Employee and EPFO history for Waaree Technologies Limited
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GST Compliance of Waaree Technologies Limited
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Credit Ratings, Litigation & Regulatory Alerts for Waaree Technologies Limited
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MSME Payment Delays by Waaree Technologies Limited
MSME payment history for Waaree Technologies Limited
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Subsidiaries & Group Companies of Waaree Technologies Limited
Corporate group structure for Waaree Technologies Limited
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MCA Filings & Documents of Waaree Technologies Limited
MCA filings and documents for Waaree Technologies Limited
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Recent Activity on Waaree Technologies Limited
Recent News on Waaree Technologies Limited
Frequently Asked Questions about Waaree Technologies Limited
Waaree Technologies Limited is an active public limited company in the packaging sector based in Mumbai, Maharashtra, India. It was incorporated on 28 June 2013 (13+ years old) and is registered under CIN L74110MH2013PLC244911. Listed on BSE: 539337.
Waaree Technologies Limited reported revenue of ₹7.13 Cr for FY 2025-26 (down 30.37% YoY) based on standalone financials.
The current directors of Waaree Technologies Limited are:
- Rushabh Pankaj Doshi - Director
- Kirit Chimanlal Doshi - Managing Director
- Jayesh Dhirajlal Shah - Director
- Mitul Chandulal Mehta - Director
- Anita Jaiswal - Director
- Vivek Srivastava - Director
The primary industry of Waaree Technologies Limited is packaging. The company specifically operates in industrial packaging solutions. The company is currently active in this sector.
Yes. Waaree Technologies Limited is listed on BSE with code 539337.
Waaree Technologies Limited can be reached at the registered office: 602 Western Edge I Western Express Highway Borivali East Mumbai 400066, Maharashtra, India – 400066, or through the website hktrade.in.