Waaree Technologies (WAAREE.BO) Stock Analysis & Winston Score

Waaree Technologies Ltd. is an Indian industrial company that makes automation and technology solutions, including products used in manufacturing and process control. Its customers include industrial businesses across India that need equipment and systems to run their operations more efficiently. The company operates in the industrials sector, which covers a broad range of machinery and specialty products.

Waaree Technologies earns revenue primarily through product sales and project-based contracts with industrial clients. It operates mainly in India, where it is a smaller player in a competitive market for industrial automation and specialty equipment. The company's financials show significant challenges — a negative gross margin of around -31% and an operating margin of -74% signal that it currently costs more to run the business than it earns, making a path to profitability the central risk investors need to watch closely.

Winston Score History

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

-34.8% YoY

YoY Growth Rate

Revenue declining

EPS Growth

+18.9% YoY

YoY Growth Rate

Steady EPS growth

Insider Activity

58.8%ownership

Insiders own a meaningful stake in the company

Cash Runway

~5 months

$25M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Short runway — potential dilution ahead through share issuance

Cash watch

Waaree Technologies has less than a year of cash at its current burn rate. Growth investors should watch for potential share dilution from future fundraising — that directly reduces your ownership.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Gross Margin

-40.8%

Thin — -40.8% gross margin

Operating Margin

-102.7%

Losing money on operations — -102.7%

ROCE

-20.7%

Weak — -20.7% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales YoY

-30.3%

Shrinking sales (-30.3% YoY)

EPS YoY

N/A

Data not available

EPS Consistency

4/8 quarters

Earnings inconsistent quarter-to-quarter

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Cash Flow

Cash Conversion

N/A

Data not available

FCF Margin

-44.1%

Burning cash (-44.1%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

Debt / Equity

N/A

Data not available

Interest Cover

N/A

Data not available

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Valuation

P/E Ratio (TTM)

N/M

no trend

Negative earnings — P/E not meaningful

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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