About
Waa Solar Ltd
Waa Solar Limited was incorporated as a private limited company with the name 'Waa Solar Private Limited' on November 9, 2009. The registered office of the Company was shifted from Maharashtra State to Gujarat State on September 12, 2013. Consequent upon the conversion of the Company to public limited company, the name of the Company was changed to 'Waa Solar Limited' on February 19, 2018.
The company was promoted by Mr. Hitesh Doshi and Mr. Viren Doshi. On May 8, 2010, the company was taken over by the corporate promoter M/s. Madhav Power Private Limited ('MPPL') with the intention entering into solar power projects in the state of Gujarat. MPPL is the promoter and holding company holds 34,19,982 Equity Shares constituting 70.03% of stake in company. On May 21, 2010, Gujarat Urja Vikas Nigam Limited ('GUVNL') has awarded the work of setting up of Solar Photovoltaic Grid Interactive Power Plant of 10MW capacity at village Nayka, Taluka-Sami, District Patan, to produce the Electric Energy and for sale of entire electrical energy, so produced, for commercial purpose from such project to GUVNL for a tenure of 25 years. GUVNL has entered into Power Purchase Agreement ('PPA') dated May 21, 2010 and agreed to purchase such power through distribution companies ('Discom').
Subsequently, the company vide its letter dated September 17, 2010 requested to GUVNL for shifting of location of 10MW Solar power plant from village Nayka, Taluka-Sami, District Patan, Gujarat to Village Tikar (Parmar), Taluka- Muli, District Surendranagar, Gujarat. GUVNL on October 8, 2010 accepted the request for change in location of 10 MW solar power plant and executed supplementary Power Purchase Agreement ('PPA') on October 8, 2010.
In March 2011, the company acquired 3,71,502 Square Meter (approx 92 acres) of agriculture land of Rs. 392.80 Lakhs for setting up Solar Photovoltaic Grid Interactive power plant of 10MW at Village Tikar (Parmar), Taluka- Muli, District Surendranagar.
The company within a period of 11 months of acquisition of land completed 10.25 MW (DC) capacity of ground mounted Solar Photovoltaic power project in the area of (approx 59.80 acres) at Village Tikar (Parmar), Taluka- Muli, District Surendranagar, Gujarat, installed 63,990 Photovoltaic (PV) modules in phase I having total capacity of 4.9592 MW and 64,875 PV modules in phase II having total capacity of 5.9207 MW with 14 inverter transmission station. The Company received certificate of commissioning of 10.25 MW from Gujarat Energy Development Agency ('GEDA') on February 27, 2012.
Out of total land area of 92 acres of land situated at Village Tikar (Parmar), Taluka- Muli, District Surendranagar, Gujarat, the company has set up Solar Photovoltaic power project in the area of approx 59.80 acres and balance area of approx 32 acre land has been given on lease basis to M/s. S.J. Green Park energy Private Limited for setting up Solar Photovoltaic power project of 5.125 MW w.e.f May 9, 2012 for a tenure of 25 years at a monthly rent of Rs. 1.00 Lakhs with the incremental rent of 5% every year.
Waa Solar Ltd
Chairman Speech
Dear Shareholders,
Greeting of the Day!
I am pleased to welcome you today, on behalf of Board of Directors of your Company, Waa
Solar Limited. It gives me immense pleasure to share with you our performance for the year
and perspectives on the way forward. FY 2018-19 has been another strong year for WSL.
Standalone turnover of your company ended at INR 2902.53 Lakhs, up by 7.59% from last
year. PAT grew to INR 528.98 Lakhs, up by 92.02% from last year. While Consolidated
turnover of your company ended at INR 8567.71 Lakhs, up by 58.78% from last year. PAT grew
to INR 418.40 Lakhs, up by 12.67% from last year.
In India, a total of 8.53 GW of Renewable Energy capacity was added during the year
2018-19 (FY19), taking cumulative installed renewable energy capacity to 78.31 GW as on
31st March, 2019 that comprises 35.63 GW from Wind Power, 28.18 GW from Solar Power, 9.91
GW from Bio Power and 4.59 GW from small hydro power, as specify in report of MNRE.
Financial Year 2018-19 turned out to be a forgettable year, with fresh capacity
additions tottering to a paltry 6,529 MW as against 9,010 MW in the previous year,
according to data supplied by the Central Electricity Authority. The country today has
30.6 GW of solar power capacity, which splits as 26.7 GW of large, utility-scale plants
and 3.9 GW of rooftop plants, according to the Cleveland, US-based Institute of Energy
Economics and Financial Analysis (IEEFA). With just three years to go to meet target of
100 GW, India would have to add 23 GW of capacity each year to 2022.
As all of you know that our country is going through transitional phase wherein so many
transformational changes like demonetization, implementation of GST and other reforms have
been undertaken by the Government in sequential manner. As a result, some aftershocks have
been felt and the same time so many disruptive technologies have also emerged accordingly
enterprises are trying to adjust with the same and many of them are struggling also and
there was lack of clarity on the classification of Solar Modules, Inverters and EPC
Contracts for the purpose of GST. We are pleased to inform you that Company has been able
to successfully face the challenges appropriately and register respectable growth.
Your Company's vision is to ensure that generate more and more electricity with use of
renewable energy i.e. solar energy and provide its contribution to achieve government goal
to provide electricity to each and every village and to achieve sustainable growth and
development without harming to Mother Earth.
I take this opportunity to thank the talented & devoted team of WSL for their
consistent efforts and commitment. I also congratulate and thank each and every
stakeholder of the Company for reposing their faith and confidence in us, which enabled us
to take the Company onto the next growth phase. Together, we would continue to focus on
creating value for all of us and for the nations.
Thank you.
Yours sincerely,
Amit Ashok Khurana
  Â
Waa Solar Ltd
Company History
Waa Solar Limited was incorporated as a private limited company with the name 'Waa Solar Private Limited' on November 9, 2009. The registered office of the Company was shifted from Maharashtra State to Gujarat State on September 12, 2013. Consequent upon the conversion of the Company to public limited company, the name of the Company was changed to 'Waa Solar Limited' on February 19, 2018.
The company was promoted by Mr. Hitesh Doshi and Mr. Viren Doshi. On May 8, 2010, the company was taken over by the corporate promoter M/s. Madhav Power Private Limited ('MPPL') with the intention entering into solar power projects in the state of Gujarat. MPPL is the promoter and holding company holds 34,19,982 Equity Shares constituting 70.03% of stake in company. On May 21, 2010, Gujarat Urja Vikas Nigam Limited ('GUVNL') has awarded the work of setting up of Solar Photovoltaic Grid Interactive Power Plant of 10MW capacity at village Nayka, Taluka-Sami, District Patan, to produce the Electric Energy and for sale of entire electrical energy, so produced, for commercial purpose from such project to GUVNL for a tenure of 25 years. GUVNL has entered into Power Purchase Agreement ('PPA') dated May 21, 2010 and agreed to purchase such power through distribution companies ('Discom').
Subsequently, the company vide its letter dated September 17, 2010 requested to GUVNL for shifting of location of 10MW Solar power plant from village Nayka, Taluka-Sami, District Patan, Gujarat to Village Tikar (Parmar), Taluka- Muli, District Surendranagar, Gujarat. GUVNL on October 8, 2010 accepted the request for change in location of 10 MW solar power plant and executed supplementary Power Purchase Agreement ('PPA') on October 8, 2010.
In March 2011, the company acquired 3,71,502 Square Meter (approx 92 acres) of agriculture land of Rs. 392.80 Lakhs for setting up Solar Photovoltaic Grid Interactive power plant of 10MW at Village Tikar (Parmar), Taluka- Muli, District Surendranagar.
The company within a period of 11 months of acquisition of land completed 10.25 MW (DC) capacity of ground mounted Solar Photovoltaic power project in the area of (approx 59.80 acres) at Village Tikar (Parmar), Taluka- Muli, District Surendranagar, Gujarat, installed 63,990 Photovoltaic (PV) modules in phase I having total capacity of 4.9592 MW and 64,875 PV modules in phase II having total capacity of 5.9207 MW with 14 inverter transmission station. The Company received certificate of commissioning of 10.25 MW from Gujarat Energy Development Agency ('GEDA') on February 27, 2012.
Out of total land area of 92 acres of land situated at Village Tikar (Parmar), Taluka- Muli, District Surendranagar, Gujarat, the company has set up Solar Photovoltaic power project in the area of approx 59.80 acres and balance area of approx 32 acre land has been given on lease basis to M/s. S.J. Green Park energy Private Limited for setting up Solar Photovoltaic power project of 5.125 MW w.e.f May 9, 2012 for a tenure of 25 years at a monthly rent of Rs. 1.00 Lakhs with the incremental rent of 5% every year.
Waa Solar Ltd
Directors Reports
Waa Solar Ltd
Company Background
| Incorporation Year | 2009 |
| Registered Office | Madhav House Subhanpura,Nr Panchratna Building
Vadodara,Gujarat-390023 |
| Telephone | 91-0265-2290722,Managing Director |
| Fax | |
Amit KhuranaAmit Khurana| Company Secretary | |
| Auditor | JCH & Associates |
| Face Value | 10 |
| Market Lot | 750 |
| Listing | BSE - SME, |
| Registrar | Bigshare Services Pvt Ltd
Office No 56-2 ,Pinnacle Busine.Park,Mahakali Caves Road ,Mumbai - 400093 |
Waa Solar Ltd
Company Management
| Director Name | Director Designation | Year |
|---|
| Amit Khurana | Chairman & Managing Director | 2022 |
| Mangilal Singhi | Director | 2022 |
| Jaini Jain | Independent Director | 2022 |
| Sumitkumar Jayantibhai Patel. | Independent Director | 2022 |
| Neelakshi A Khurana | Whole-time Director | 2022 |
| Heena Parikh | Independent Director | 2022 |
Waa Solar Ltd
Listing Information
Waa Solar Ltd
Finished Product
| Product Name | Unit | Installed
Capacity | Production
Quantity | Sales
Quantity | Sales
Value |
|---|
| Solar Power Charges | NA | 0 | 0 | 0 | 24.9957 |
| Sale of Services | NA | 0 | 0 | 0 | 0 |
| Trading Activity | NA | 0 | 0 | 0 | 0 |