Unicommerce eSolutions Limited has announced a strategic partnership with Waaree Energies Limited, one of India's leading solar energy companies, to automate and unify Waaree's e-commerce operations. The collaboration, disclosed under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, on May 5, 2026, brings Unicommerce's multi-channel order management technology to Waaree's rapidly expanding B2C and B2B distribution ecosystem. The partnership centres on unified order management and intelligent inventory allocation, with the broader aim of supporting growth across Waaree's direct-to-consumer and wholesale channels. The move signals Waaree's intent to match its manufacturing scale with a robust digital sales infrastructure.

Partnership Objectives and Capabilities

Through the Unicommerce platform, Waaree Energies gains a comprehensive suite of capabilities designed to future-proof its digital commerce infrastructure. The partnership will bring Waaree's growing range of clean energy products — including solar modules, inverters, and solar kits — closer to consumers across India via its warehouse network.

The key capabilities delivered through this partnership include:

• Unified Order Management: A single dashboard aggregating orders across all online marketplaces, direct-to-consumer channels, and wholesale portals, eliminating the complexity of managing disparate systems.
• Intelligent Inventory Allocation: Real-time visibility into stock levels across Waaree's multiple warehousing and fulfilment locations, ensuring optimal inventory placement and reducing stockouts.
• B2B Distribution Management: Seamless order flow management for Waaree's nationwide distributor network, enabling transparent and efficient stock transfers across regions.
• Faster Fulfilment: Streamlined warehouse workflows resulting in faster delivery timelines and an improved end-customer experience.

Leadership Perspectives

Speaking on the partnership, Jignesh Rathod, CEO and Whole-Time Director, Waaree Energies Limited, stated: "At Waaree Energies, our mission goes beyond manufacturing — it is about making clean energy genuinely accessible to every Indian household and business. As we scale our product portfolio and deepen our digital reach, having a robust e-commerce backbone is essential. Unicommerce's unified e-commerce backbone allows us to serve both individual buyers and our distributor network with the same efficiency we bring to manufacturing. This is a step forward in bringing solar energy solutions closer to the customer."

Kapil Makhija, MD & CEO, Unicommerce, added: "Renewable energy products are increasingly becoming mainstream consumer choices, driven by India's ambitious climate commitments and the Government's target of achieving 500 GW of renewable energy capacity by 2030. We are delighted to partner with Waaree Energies, a company at the very forefront of India's solar revolution, and support them in delivering a seamless online experience to customers across the country."

Industry Context

The partnership reflects a broader shift underway in India's energy market. India's cumulative installed solar capacity has crossed 100 GW, with solar now accounting for over 20% of the country's total installed power capacity. As rooftop solar becomes increasingly viable for homes and small businesses, consumer demand for energy products online is growing rapidly.

Company Profiles at a Glance

The following table summarises key details about both companies involved in the partnership:

Waaree Energies Limited, founded in 1990 and headquartered in Mumbai, is India's largest manufacturer of solar PV modules and solar cells. Its comprehensive portfolio spans solar panels and inverter manufacturing, EPC services, green hydrogen solutions, battery energy storage systems, green energy infrastructure, and data centres. Unicommerce, incorporated in 2012, is an AI-first e-commerce enablement SaaS platform offering a full-stack suite that includes Convertway (customer engagement and marketing automation), Uniware (order and inventory management), and Shipway (logistics automation), serving clients across India, Southeast Asia, and the Middle East.

Unicommerce eSolutions has announced ambitious growth targets, aiming for 5X expansion over the next five years with operating leverage expected to start showing results from the second half of FY27.

Growth Strategy and Financial Outlook

The company anticipates better full-year operational profit in FY27 compared to FY26. However, it expects reduced near-term adjusted EBITDA and PAT in the next two quarters due to increased investments starting Q4 FY26.

Business Segment Performance

Uniware Division

Unicommerce expects Uniware to maintain double-digit growth driven by strong client growth and rising adoption of new products. The international Uniware segment has achieved profitability and is outpacing growth compared to the domestic Indian business, with the company aiming for deeper market penetration.

Shipway Growth Trajectory

Shipway is also projected to grow in double digits year-on-year, benefiting from its larger market opportunity and expanding customer base.

Strategic Investment Phase

The company is entering a strategic investment phase starting Q4 FY26, which will impact near-term profitability metrics. These investments are expected to lay the foundation for the targeted 5X growth and improved operational leverage in the latter half of FY27.