Reliance Power vs Waaree Renewable vs Olectra Greentech: Which Stock Should You Track

Reliance Power vs Waaree Renewable Technologies vs Olectra Greentech starts with the core numbers most investors compare within the power and green energy segment: market capitalisation, valuation multiples, profitability, dividend yield and the latest quarterly results. Figures below are sourced as of October 2026 and will shift with daily price moves.

All three names sit in the power and green energy bucket, which makes them a natural set to place side by side rather than a random trio of unrelated businesses. The sections below cover the company profiles, a valuation table, the latest quarter and a five-quarter trend for revenue and net profit.

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Reliance Power, Waaree Renewable Technologies and Olectra Greentech: Company Overview

Reliance Power is a listed Indian company in the power and green energy space, tracked here on book value, return ratios and valuation alongside its peers in this comparison. It has a market capitalisation of about Rs 8,193 crore, a return on equity of -0.92% and a book value of Rs 35.30 per share. Its quarterly revenue moved from Rs 2,025.31 crore in June 2025 to Rs 2,103.75 crore in June 2026, a change of +3.9%.

Waaree Renewable Technologies is a listed Indian company in the power and green energy space, tracked here on book value, return ratios and valuation alongside its peers in this comparison. It has a market capitalisation of about Rs 8,311 crore, a return on equity of 51.23% and a book value of Rs 89.52 per share. Its quarterly revenue moved from Rs 608.02 crore in June 2025 to Rs 929.52 crore in June 2026, a change of +52.9%.

Olectra Greentech is a listed Indian company in the power and green energy space, tracked here on book value, return ratios and valuation alongside its peers in this comparison. It has a market capitalisation of about Rs 8,553 crore, a return on equity of 14.46% and a book value of Rs 149.15 per share. Its quarterly revenue moved from Rs 352.55 crore in June 2025 to Rs 577.65 crore in June 2026, a change of +63.8%.

Reliance Power vs Waaree Renewable Technologies vs Olectra Greentech: Valuation and Profitability Snapshot

Metric	Reliance Power	Waaree Renewable Technologies	Olectra Greentech
Market Cap (approx.)	Rs 8,193 crore	Rs 8,311 crore	Rs 8,553 crore
PE Ratio (TTM)	NA	16.26	47.47
PB Ratio	0.56	8.89	6.99
Return on Equity (ROE)	-0.92%	51.23%	14.46%
EPS (TTM, Rs)	-0.77	48.98	21.95
Dividend Yield	0.00%	0.00%	0.06%
Debt to Equity	0.92	0.16	0.31
Book Value per Share (Rs)	35.30	89.52	149.15

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On valuation, Reliance Power trades at a PE of NA and a PB of 0.56, Waaree Renewable Technologies at a PE of 16.26 and a PB of 8.89, while Olectra Greentech trades at a PE of 47.47 and a PB of 6.99. On return on equity, the three post -0.92%, 51.23% and 14.46% respectively, and on dividend yield they stand at 0.00%, 0.00% and 0.06%. Olectra Greentech has the highest market capitalisation of the three at Rs 8,553 crore, while Reliance Power has the lowest at Rs 8,193 crore. Olectra Greentech has the highest PE ratio of the three at 47.47, while Waaree Renewable Technologies has the lowest at 16.26. Waaree Renewable Technologies has the highest return on equity of the three at 51.23%, while Reliance Power has the lowest at -0.92%. Reliance Power has the highest debt to equity ratio of the three at 0.92, while Waaree Renewable Technologies has the lowest at 0.16. Debt to equity is 0.92, 0.16 and 0.31 for the three respectively.

Reliance Power vs Waaree Renewable Technologies vs Olectra Greentech: Latest Quarterly Results

Company	Latest Quarter Revenue	Latest Quarter Net Profit	YoY Change (Revenue)	QoQ Change (Revenue)	YoY Change (Net Profit)
Reliance Power	Rs 2,103.75 crore	Rs 64.71 crore	+3.9%	+8.1%	+44.8%
Waaree Renewable Technologies	Rs 929.52 crore	Rs 118.98 crore	+52.9%	-16.1%	+37.7%
Olectra Greentech	Rs 577.65 crore	Rs 26.66 crore	+63.8%	-10.6%	+2.4%

Quarterly figures above are the most recent reported quarter for each company (Q1 FY27, quarter ended June 2026), compared with the year-ago and preceding quarter. A percentage change in net profit is shown as NA where the comparison quarter was a loss or the latest quarter is a loss, since the percentage is not meaningful in that case.

Reliance Power vs Waaree Renewable Technologies vs Olectra Greentech: Five-Quarter Revenue and Net Profit Trend

The five-quarter view below shows how revenue and net profit moved from June 2025 to June 2026 for each company in Reliance Power vs Waaree Renewable Technologies vs Olectra Greentech, which helps separate a one-quarter move from a steadier pattern.

Quarterly revenue (Rs crore)

Quarter	Reliance Power	Waaree Renewable Technologies	Olectra Greentech
June 2025	Rs 2,025.31 crore	Rs 608.02 crore	Rs 352.55 crore
September 2025	Rs 2,067.10 crore	Rs 779.21 crore	Rs 660.94 crore
December 2025	Rs 1,949.78 crore	Rs 856.18 crore	Rs 667.10 crore
March 2026	Rs 1,946.33 crore	Rs 1,108.45 crore	Rs 645.90 crore
June 2026	Rs 2,103.75 crore	Rs 929.52 crore	Rs 577.65 crore

Quarterly net profit (Rs crore)

Quarter	Reliance Power	Waaree Renewable Technologies	Olectra Greentech
June 2025	Rs 44.68 crore	Rs 86.39 crore	Rs 26.03 crore
September 2025	Rs 87.32 crore	Rs 116.34 crore	Rs 49.43 crore
December 2025	Rs 25.11 crore	Rs 120.19 crore	Rs 46.68 crore
March 2026	-Rs 494.00 crore	Rs 155.71 crore	Rs 57.39 crore
June 2026	Rs 64.71 crore	Rs 118.98 crore	Rs 26.66 crore

Reliance Power reported revenue of Rs 2,025.31 crore in June 2025 and Rs 2,103.75 crore in June 2026, a change of +3.9% across the period. Its highest quarterly revenue in this window was Rs 2,103.75 crore in June 2026. Net profit stood at Rs 64.71 crore in June 2026, which is a net profit margin of 3.08%. Reliance Power reported a net loss in March 2026.

Waaree Renewable Technologies reported revenue of Rs 608.02 crore in June 2025 and Rs 929.52 crore in June 2026, a change of +52.9% across the period. Its highest quarterly revenue in this window was Rs 1,108.45 crore in March 2026. Net profit stood at Rs 118.98 crore in June 2026, which is a net profit margin of 12.80%.

Olectra Greentech reported revenue of Rs 352.55 crore in June 2025 and Rs 577.65 crore in June 2026, a change of +63.8% across the period. Its highest quarterly revenue in this window was Rs 667.10 crore in December 2025. Net profit stood at Rs 26.66 crore in June 2026, which is a net profit margin of 4.62%.

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What Should Investors Look at Beyond These Numbers?

Beyond the metrics above, investors comparing these three power and green energy names should track quarter-on-quarter revenue and margin trends, management commentary on demand and cost drivers, and factors specific to the segment such as power demand, tariff and fuel costs, order book size, policy support and debt levels. A single-quarter snapshot can shift quickly, and smaller companies in particular can show wide swings from one quarter to the next.

It also helps to read the latest quarterly filings and investor presentations of Reliance Power, Waaree Renewable Technologies and Olectra Greentech directly, since the figures here come from standardised data and do not capture company-specific context such as one-time items, order timing or promoter actions.

Conclusion

Reliance Power vs Waaree Renewable Technologies vs Olectra Greentech highlights how differently three companies in the same power and green energy segment can look across valuation, profitability and dividend metrics, even when operating in a similar space. This comparison does not declare a winner; investors should weigh these figures against their own research and risk appetite. Please read the disclaimer below before making any investment decision.

FAQs on Reliance Power vs Waaree Renewable Technologies vs Olectra Greentech

What is the market cap difference between Reliance Power, Waaree Renewable Technologies and Olectra Greentech?

Ans. As of October 2026, Reliance Power has a market cap of approximately Rs 8,193 crore, Waaree Renewable Technologies is at approximately Rs 8,311 crore, and Olectra Greentech is at approximately Rs 8,553 crore.

What are the PE and PB ratios of Reliance Power, Waaree Renewable Technologies and Olectra Greentech?

Ans. As of October 2026, the PE ratios stand at NA, 16.26 and 47.47 respectively, and the price to book ratios stand at 0.56, 8.89 and 6.99 respectively.

Which of the three has the highest ROE?

Ans. Reliance Power, Waaree Renewable Technologies and Olectra Greentech post ROE of -0.92%, 51.23% and 14.46% respectively as of October 2026. Waaree Renewable Technologies has the highest return on equity of the three at 51.23%, while Reliance Power has the lowest at -0.92%.

Which of these three stocks pays the highest dividend yield?

Ans. Reliance Power, Waaree Renewable Technologies and Olectra Greentech carry dividend yields of 0.00%, 0.00% and 0.06% respectively.

What is the debt to equity ratio for Reliance Power, Waaree Renewable Technologies and Olectra Greentech?

Ans. Reliance Power carries a debt to equity of 0.92, Waaree Renewable Technologies of 0.16, and Olectra Greentech of 0.31.

What were the latest quarterly revenue and net profit of Reliance Power, Waaree Renewable Technologies and Olectra Greentech?

Ans. For Q1 FY27 (quarter ended June 2026), Reliance Power reported revenue of Rs 2,103.75 crore and net profit of Rs 64.71 crore, Waaree Renewable Technologies reported revenue of Rs 929.52 crore and net profit of Rs 118.98 crore, and Olectra Greentech reported revenue of Rs 577.65 crore and net profit of Rs 26.66 crore.

Does this comparison recommend one of Reliance Power, Waaree Renewable Technologies and Olectra Greentech?

Ans. This comparison does not declare one stock ahead of another; each company scores differently across valuation, profitability and dividend metrics, and the right fit depends on an individual investor's own criteria and research.