Waaree Energies has scheduled its 36th Annual General Meeting (AGM) for September 24, 2026. The meeting will be held through Video Conferencing or Other Audio-Visual Means, in compliance with Ministry of Corporate Affairs and SEBI circulars.

Dividend Recommendation

The Board of Directors has recommended a final dividend of ₹2 per equity share on the face value of ₹10. This represents a 20% payout ratio for the financial year ended March 31, 2026.

Dividends will be paid to members whose names appear in the Register of Members or depository records as at the close of business on Friday, September 11, 2026, which is the designated record date.

Tax Implications

Under the Income Tax Act, 2025, dividends are taxable in the hands of the recipient. Waaree Energies will deduct tax at source (TDS) during payment. The applicable tax rate depends on the residential status of the member and the documents submitted to the company.

AGM Logistics

Shareholders can participate in the AGM remotely via VC/OAVM facilities provided by MUFG Intime India Private Limited. The company will send the AGM notice and annual report electronically to registered email addresses as of Friday, August 28, 2026.

Members holding shares in physical mode must update their KYC details with the Registrar and Share Transfer Agent to receive electronic communications and e-voting credentials.

Waaree Energies has approved a capital expenditure of approximately $37 million for its wholly-owned subsidiary, Waaree Solar Americas Inc., to revamp its manufacturing facility in Arizona, USA. The investment aims to replace existing module lines with high-efficiency production lines, expanding the Arizona site’s capacity from 1 GW to 1.6 GW.

Upon completion, the company’s aggregate manufacturing capacity in the United States will rise to 4.8 GW, comprising 3.2 GW at its Texas facility and the expanded 1.6 GW capacity in Arizona. The capital outlay will be funded through a mix of debt and internal accruals.

Manufacturing Consolidation in India

The board also approved the consolidation of manufacturing facilities in India by relocating plant and machinery from Tumb (1.0 GW) and Nandigram (1.11 GW) to its existing facility at Chikhli, Gujarat. This move is intended to improve operational efficiency.

The units contributing approximately 14% of the company’s standalone turnover are expected to close on or before December 31, 2026.

Board Changes and AGM Notice

Ms. Mona Bhide was appointed as an Additional Non-Executive Independent Director for a five-year term starting August 30, 2026, subject to shareholder approval. She brings extensive expertise in corporate law and capital markets. Concurrently, Ms. Richa Goyal ceased to be an Independent Director upon the completion of her five-year term.

The Audit Committee was reconstituted with Rajender Mohan Malla as Chairman, alongside members Mahesh Chhabria and Hitesh Mehta.

The company will hold its 36th Annual General Meeting on September 24, 2026, via Video Conferencing/Other Audio Visual Means. The record date for determining eligibility for the final dividend for FY26 is set for September 11, 2026, pending shareholder approval.