Waaree Energies Limited , a leading player in India's renewable energy sector, has reported robust financial results for the first quarter of fiscal year 2026 (Q1 FY26) and reaffirmed its EBITDA guidance for the full year.

Strong Q1 FY26 Performance

The company's consolidated financial results for Q1 FY26 showcase significant year-on-year growth:

Operational Highlights

Waaree Energies achieved its highest-ever quarterly module production of 2.3 GW in Q1 FY26, demonstrating strong operational focus. The company's order book stands at an impressive ~25 GW, valued at approximately ₹49,000 crore.

EBITDA Forecast Maintained

Dr. Amit Paithankar, Whole Time Director & CEO of Waaree Energies Ltd, stated, "We maintain our FY26 EBITDA guidance of ₹5,500 to ₹6,000 crore." This reaffirmation of the EBITDA forecast underscores the company's confidence in its financial performance for the fiscal year.

Expansion Plans

The Board of Directors has approved additional capex of ₹2,754 crore for expansion of cell capacity by 4 GW in Gujarat and Ingot-wafer capacity by 4 GW in Maharashtra. This expansion will be carried out through its wholly-owned subsidiary, Sangam Solar One Private Limited.

Manufacturing Capacity

Waaree Energies operates state-of-the-art manufacturing facilities with an installed capacity of ~15 GW for solar PV modules and 5.4 GW for solar cells. The company is on track for commissioning additional module manufacturing capacity of 1.6 GW in Texas (USA) and 3.2 GW in Chikhli (Gujarat).

Future Outlook

With a robust order book and ongoing expansion plans, Waaree Energies is well-positioned to capitalize on the growing demand for renewable energy solutions. The company's strong financial performance and strategic investments in manufacturing capacity underscore its commitment to maintaining its leadership position in India's renewable energy sector.

As Waaree Energies continues to deliver cutting-edge, cost-effective energy solutions, it remains focused on empowering a greener future and accelerating the global energy transition.

Waaree Energies Limited , a leading player in the solar energy sector, has announced the acquisition of Voltshift Energy Transition Private Limited, marking its strategic entry into the transformer manufacturing business. This move is part of Waaree's efforts to diversify its portfolio and strengthen its position in the energy sector.

Key Highlights of the Acquisition

• Waaree Energies has acquired 100% shareholding of Voltshift Energy Transition Private Limited.
• The acquisition was made through Waaree Forever Energies Private Limited, a wholly-owned subsidiary of Waaree Energies.
• Voltshift Energy Transition is a newly incorporated company, acquired specifically for its potential in the transformer business.
• The acquisition cost is reported at Rs. 1.00 Lakh, with 10,000 equity shares at a face value of Rs. 10.00 per share.

Strategic Implications

This acquisition aligns with Waaree Energies' strategy to expand its presence in the energy sector. By venturing into the transformer business, the company aims to:

1. Diversify its product portfolio beyond solar energy solutions.
2. Establish an independent Strategic Business Unit for transformer manufacturing.
3. Potentially create synergies between its solar energy expertise and transformer production.

Financial Performance

Waaree Energies has also released its financial results for the quarter ended June 30, 2025. The company reported:

Corporate Governance Updates

In addition to the acquisition and financial results, Waaree Energies has made several key appointments:

• Reappointed M/s. VJ Talati & Co. as the Cost Auditor for the Financial Year 2025-26
• Reappointed Mahajan and Aibara as the Internal Auditor for the Financial Year 2025-26
• Appointed M/s Makarand M Joshi & Co. as the Secretarial Auditor for a period of five consecutive financial years

Expansion Plans

The company has also approved significant capital expenditure plans:

• Setting up a 4 GW Cell plant in Unn, Navsari district, Gujarat
• Establishing a 4 GW Ingot Wafer plant in Nagpur, Maharashtra
• Total capex amount of Rs. 2,754.00 Crores, to be spread over FY 2026-27

These expansion plans demonstrate Waaree Energies' commitment to growing its manufacturing capabilities in the solar energy sector, while simultaneously diversifying into the transformer business through the Voltshift acquisition.

As Waaree Energies continues to expand its footprint in the energy sector, the acquisition of Voltshift Energy Transition marks a significant step towards becoming a more diversified energy solutions provider. The company's strong financial performance and strategic investments position it well for future growth in both the solar and transformer markets.