Waaree Energies Limited has announced a key senior management personnel change with the resignation of its Chief Marketing Officer, Nilesh Malani, effective December 10, 2025. The solar energy company disclosed this development under Regulation 30 of SEBI Listing Regulations on December 17, 2025.

Leadership Transition Details

The company has provided comprehensive details regarding the management change through its regulatory filing:

Professional Contribution and Achievements

During his tenure of nearly two years, Malani led the marketing efforts at Waaree Energies and played a crucial role in developing the new business of special modules. In his resignation letter addressed to Mr. Amit Paithankar, Whole-time Director and CEO, Malani highlighted his significant contributions to the company's growth.

Malani expressed gratitude for the opportunity to contribute to the company's growth and acknowledged the trust and support shown by the leadership team. He praised the dedication and talent of the entire Waaree team, describing it as "truly exceptional" and emphasizing the collaborative spirit fostered during his tenure.

Reason for Departure

The Chief Marketing Officer cited personal and professional reasons for his decision to resign. In his resignation letter, Malani stated that after careful consideration, he decided to transition to a new professional and personal chapter that aligns with his long-term aspirations and goals.

Regulatory Compliance

Waaree Energies filed the disclosure pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company also referenced SEBI circular SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024, in its regulatory submission.

The company acknowledged a delay in reporting this change, describing it as unintentional and inadvertently missed due to an oversight. The information has been made available on the company's website at www.waaree.com for stakeholder reference.

Company Leadership Structure

The resignation was formally communicated by Rajesh Ghanshyam Gaur, Company Secretary and Compliance Officer, through the official regulatory filing. The company maintains its registered office at Western Edge-1, Western Express Highway, Borivali (E), Mumbai, and continues its operations in the solar energy sector under the leadership of the existing management team.

Waaree Energies has announced the launch of two new fully owned Independent Power Producer (IPP) companies through its subsidiary. The newly established entities are named Windora Energy and Agni Vayu Energy.

Strategic Expansion

The launch of these two IPP companies represents a strategic move by the renewable energy company to expand its presence in the independent power production sector. Both Windora Energy and Agni Vayu Energy will operate as fully owned subsidiaries under the Waaree Energies umbrella.

Company Structure

The two new entities will function as Independent Power Producers, focusing on renewable energy generation. This expansion aligns with Waaree Energies' broader strategy in the renewable energy sector.

Conclusion

This development marks a significant step for Waaree Energies as it strengthens its position in the renewable energy market through diversification and expansion of its power production capabilities.