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Waaree Energies Shares Rise on 1,500 MW Solar Order and Leadership Transition

Waaree Energies experienced positive stock movement following a major 1,500 MW solar module order comprising 1,000 MW DCR and 500 MW non-DCR modules for FY 2026-27 delivery. The company also announced leadership transition with Jignesh Rathod replacing Amit Paithankar as CEO in May 2026, while entering the F&O segment for trading.

29Dec 25

Waaree Energies CEO Amit Paithankar to Step Down in 2026; Rathod Takes Over

Waaree Energies has announced a leadership transition with CEO Amit Paithankar stepping down on May 15, 2026, to pursue external opportunities. The board has appointed Jignesh Rathod, who brings over 18 years of operational expertise, as CEO-Designate to ensure seamless leadership continuity and support the company's next growth phase.

29Dec 25

Waaree Energies Subsidiary Commences 3.05 GW Solar Inverter Plant Operations

Waaree Energies announced the commissioning of a 3.05 GW solar inverter manufacturing facility by its subsidiary Waaree Power Private Limited at Sarodhi-Valsad, Gujarat, with commercial operations starting December 29. The facility comprises two production lines of 1.525 GW each, marking a significant expansion in the company's renewable energy manufacturing capabilities and strengthening its position in India's solar energy value chain.

23Dec 25

Waaree Energy Unit Launches Ten New Subsidiaries

Waaree Energies has announced a significant expansion through its unit Waaree Forever Energies, which has established ten fully-owned subsidiaries. This move represents a notable development in the company's organizational structure and business expansion efforts in the renewable energy sector. The launch of these subsidiaries demonstrates Waaree Energies' commitment to strengthening its market position and operational capabilities across various segments of the renewable energy industry.

23Dec 25

Waaree Energies Limited Schedules Investor Meeting for December 27, 2025

Waaree Energies Limited has scheduled a physical investor meeting for December 27, 2025, in Delhi, as announced under SEBI Regulation 30 compliance. The company will conduct discussions based solely on publicly available information, with no unpublished price-sensitive information to be disclosed. The meeting represents the company's ongoing engagement with the investment community while maintaining regulatory transparency.

23Dec 25

Waaree Energies receives multiple GST demand orders totaling ₹4.81 crores

Waaree Energies Limited has received multiple GST demand orders totaling ₹4.81 crores from different tax authorities on December 30, 2025. The demands relate to alleged Input Tax Credit violations across various periods, with the company maintaining no financial or operational impact and planning to contest through legal channels.

20Dec 25

Waaree Energies Clarifies 300 MW Solar Module Supply Contract with Sembcorp Subsidiary

Waaree Energies issued a regulatory clarification regarding its 300 MW solar module supply contract with Green Infra Clean Wind Technology Private Limited, a Sembcorp subsidiary. The contract, signed on October 23, 2025, is part of normal business operations and doesn't require disclosure under SEBI regulations. The company affirmed no pending price-sensitive information or legal proceedings related to this contract.

19Dec 25

Waaree Energies Forms Step-Down Subsidiary Hydro Bloom Energy for IPP Projects

Waaree Energies has formed a new step-down subsidiary Hydro Bloom Energy Private Limited through Waaree Forever Energies Private Limited, incorporated on December 18, 2025. The subsidiary is specifically designed for Independent Power Producer projects, representing the company's strategic expansion into power generation beyond its core solar manufacturing business.

19Dec 25

Waaree Energies to Invest $30 Million in US Solar Firm for Supply Chain Expansion

Waaree Energies Ltd has announced a strategic $30 million investment to subscribe to Series B preferred shares in US-based United Solar Holding Inc. The acquisition of 53,68,551 shares is aimed at strengthening the company's polysilicon supply chain capabilities, with completion expected by January 31, 2026.

18Dec 25

Waaree Energies Subsidiary Creates Two New Fully-Owned IPP Companies

Waaree Energies has strategically expanded its operations through the creation of two new fully-owned Independent Power Producer companies via its subsidiary. This development strengthens the company's position in the renewable energy sector by diversifying into power generation alongside its existing electrical equipment manufacturing capabilities. The move represents a comprehensive approach to capturing value across the renewable energy value chain and aligns with India's growing clean energy market opportunities.

17Dec 25

Waaree Energies Subsidiary Forms Three New Renewable Firms

A subsidiary of Waaree Energies has established three new fully-owned renewable energy companies. This move expands the group's renewable energy portfolio and strengthens its position in the clean energy sector. The creation of these specialized entities allows for focused operations in different aspects of renewable energy development and implementation, potentially enabling the pursuit of diverse projects simultaneously while maintaining operational efficiency.

17Dec 25

Waaree Energies Expands with 15 New Subsidiaries in One Week for Power Projects

Waaree Energies has significantly expanded its renewable energy portfolio by incorporating 15 new wholly-owned subsidiaries within one week through its subsidiary Waaree Forever Energies Private Limited. The incorporations occurred in phases: three subsidiaries on December 17, two on December 18, and ten more between December 22-23, 2025. All entities are established under the Independent Power Producer framework to facilitate specific power projects, with 100% shareholding maintained by the parent entity and full regulatory compliance under SEBI listing requirements.

17Dec 25

Waaree Energies CMO Nilesh Malani Resigns Effective December 10, 2025

Waaree Energies Limited announced the resignation of Chief Marketing Officer Nilesh Malani, effective December 10, 2025. Malani, who served for nearly two years, cited personal and professional reasons for his departure. During his tenure, he led marketing efforts and developed new business in special modules. The company acknowledged an unintentional delay in reporting this change under SEBI regulations.

16Dec 25

Waaree Energies Subsidiary Launches Two New IPP Companies: Windora Energy and Agni Vayu Energy

Waaree Energies has established two new fully owned Independent Power Producer (IPP) companies, Windora Energy and Agni Vayu Energy, through its subsidiary. This strategic move aims to expand Waaree's presence in the independent power production sector, focusing on renewable energy generation.

16Dec 25

Waaree Energies Subsidiaries Incorporate Two New Firms for Power Projects

Waaree Energies Limited announced the incorporation of two new wholly-owned subsidiaries through its subsidiary, Waaree Forever Energies Private Limited. The new entities, Windora Energy Private Limited and Agni Vayu Energy Private Limited, were incorporated on December 16, 2025, for facilitating power projects under the Independent Power Producer (IPP) framework. Both companies are registered in Mumbai and are yet to commence operations.

15Dec 25

Waaree Energies Incorporates New Wholly-owned Subsidiary EcoFlux Renewables For IPP Projects

Waaree Energies Limited announced the incorporation of EcoFlux Renewables Private Limited as an indirect wholly-owned subsidiary through its existing subsidiary structure. The new entity is specifically established for facilitating and holding power projects under the Independent Power Producer (IPP) framework, representing the company's strategic expansion in renewable energy project development.

12Dec 25

Waaree Energies Subsidiary Officially Launches 1500 MW Solar Plant Operations

Waaree Energies has officially announced the commencement of operations at its subsidiary Sangam Solar One's 1500 MW solar module manufacturing facility in Samakhiali-Kutch, Gujarat. The wholly-owned subsidiary started operations on December 12, 2025, at 10:00 AM, with the facility featuring two production lines of 750 MW each. The company has formally notified stock exchanges under SEBI Regulation 30, demonstrating regulatory compliance and transparency in this significant expansion of India's renewable energy manufacturing capacity.

10Dec 25

Waaree Energies Officially Incorporates Solaris Horizon Energy IPP Subsidiary

Waaree Energies has completed the official incorporation of Solaris Horizon Energy Private Limited on December 10, 2025, establishing a dedicated Independent Power Producer subsidiary. The entity, incorporated through wholly-owned subsidiary WFEPL, will focus on facilitating and holding power projects under the IPP framework, representing the company's strategic expansion from solar panel manufacturing into power generation to create a comprehensive renewable energy value chain.

28Nov 25

Waaree Energies Secures 140 MW Solar Module Supply Order for FY 2025-26

Waaree Energies Limited has secured a contract to supply 140 MW of solar modules to a prominent customer in India's renewable power industry. The order is from a domestic entity specializing in owning, developing, and operating renewable power projects. The supply is scheduled for execution in the Financial Year 2025-26. This order does not involve any related party transactions or interest from the promoter or promoter group.

18Nov 25

Waaree Energies Completes Income Tax Department Investigation

Waaree Energies Limited announced the completion of an Income Tax Department investigation at some of its offices and facilities in India. The company provided full cooperation during the process, and all plant operations and offices continued to function normally throughout the investigation period. The investigation was conducted under the Income Tax Act, 1961.

15Nov 25

Waaree Energies' Subsidiary Launches 1,500 MW Solar Module Manufacturing Facility

Waaree Energies Limited's subsidiary, Sangam Solar One Private Limited, has launched a new solar module manufacturing facility in Samakhiali-Kutch, Gujarat. The plant, which began operations on November 15, 2025, features two production lines with a total annual capacity of 1,500 MW. This expansion aligns with India's renewable energy goals and may strengthen Waaree Energies' position in domestic and international solar module markets.

11Nov 25

Waaree Energies Secures 360 MW Solar Module Supply Order for FY 2025-26

Waaree Energies Limited has announced a significant order for supplying 360 MW of solar modules to a prominent domestic customer, a developer and owner-operator of utility-scale solar and energy storage projects. The one-time order is set for delivery in the financial year 2025-26. This development was disclosed to the BSE and NSE stock exchanges in compliance with SEBI listing regulations.

04Nov 25

Waaree Energies to Acquire Full Ownership of Sunbreeze Ninth Cloud

Waaree Energies Limited's wholly-owned subsidiary, Waaree Forever Energies Private Limited (WFEPL), has signed a Share Purchase Agreement to acquire a 100% stake in Sunbreeze Ninth Cloud Private Limited. The acquisition is expected to be completed by November 30, 2025, or a later agreed date. This transaction is not related to any party within Waaree Energies' promoter or group companies.

31Oct 25

Waaree Transpower Unveils Next-Gen Inverter Duty Transformers at Renewable Energy India Expo 2025

Waaree Transpower, a subsidiary of Waaree Energies, has launched a new line of Inverter Duty Transformers (IDTs) at the Renewable Energy India Expo in New Delhi. The flagship model has a capacity of 17.60 MVA and a voltage rating of 4X660V/33 kV. These transformers are designed for utility-scale solar plants, renewable energy developers, industrial captive units, and smart grid operators. Waaree Energies, the parent company, has a global solar PV module capacity of 16.70 GW and operates in over 25 countries.

28Oct 25

Waaree Energies Reports Record Q2 Results with 70% Revenue Growth and Strong Order Book

Waaree Energies Limited reported exceptional Q2 financial results with 70% YoY revenue growth to ₹6,227.00 crores, 155% EBITDA growth to ₹1,567.00 crores, and 134% PAT increase to ₹878.00 crores. The company achieved record module production of 2.6 GW and cell production of 0.6 GW. With a robust order book of ₹47,000.00 crores, Waaree has made strategic acquisitions in smart meters and transformers. The Board approved ₹8,175.00 crores capex for expanding into battery storage, electrolysers, and inverters. Management reaffirmed EBITDA guidance of ₹5,500-6,000 crores.

27Oct 25

Waaree Energies' ₹15,840 Crore Worth Shares Unlock as Lock-in Period Concludes

Waaree Energies Ltd.'s shareholder lock-in period expires on October 27, releasing 4.5 crore shares (16% of equity) valued at ₹15,840 crore. The company reported strong Q2 results with 70% revenue growth to ₹1,406.3 crore and 168% EBITDA increase. Stock closed at ₹3,520, up 134% from IPO price of ₹1,503. Promoters hold 64.22% stake, retail shareholders 7.34%, and others 28.44%.

27Oct 25

Waaree Energies Secures 122MW Solar Module Order, Boosting Business

Waaree Energies, a major player in the solar energy sector, has received new orders for solar modules. One of the company's units has secured a specific order for 122MW solar modules. While the total value of the orders is undisclosed, this development signifies growing demand for solar energy solutions and potentially strengthens Waaree's market position. The orders may contribute to the company's future revenue streams and reflect positively on its business prospects in the renewable energy sector.

24Oct 25

Waaree Energies Secures 692MW Solar Module Orders Across India and US

Waaree Energies Limited has announced new contracts totaling 692MW for solar module supply. The orders include 570MW from domestic clients in India and 122MW from Waaree Solar Americas for a U.S. customer. These one-time supply contracts are scheduled for delivery during FY 2025-26 and 2026-27, with no related party transactions involved. The orders span both domestic and international markets, reinforcing Waaree's position in the solar energy sector.

17Oct 25

ValueQuest Tristar Fund Invests 1.25 Billion Rupees in Waaree Energies' Co-Storage Solutions

ValueQuest Tristar Fund has invested ₹1.25 billion in Waaree Energies' co-storage solutions business. The investment is aimed at strengthening Waaree's position in the energy storage market. This funding is expected to support expansion of R&D efforts, scaling up production capabilities, and enhancing market presence in the energy storage segment.

16Oct 25

Waaree Energies Reports Strong Financial Performance Amid U.S. Investigation

Waaree Energies Limited reported significant financial improvements for Q2 FY2026. Revenue from operations increased by 44.58% to ₹4,581.84 crore, while net profit surged by 224.38% to ₹1,159.53 crore compared to Q2 FY2025. EBITDA grew by 207.44%. The company faces a U.S. Customs investigation into the origin of components used in solar modules exported to the United States since January 2021. Waaree Energies is cooperating with the investigation and maintains compliance with applicable laws. The Board declared an interim dividend of ₹2 per equity share for FY2026, with the record date set for October 24, 2025, and payment scheduled for November 6, 2025.

16Oct 25

Waaree Energies Reports Robust Q2 FY26 Performance, Declares Interim Dividend

Waaree Energies posted strong Q2 FY26 results with net profit up 131.91% to ₹871.21 crore and revenue rising 69.70% to ₹6,065.64 crore. EBITDA grew 156.54% to ₹1,567.30 crore, with margin expanding to 25.84%. The company declared an interim dividend of ₹2 per share. Strategic developments include ongoing discussions for potential acquisition of Enel Green Power India, completed acquisition of 64% stake in Kotsons Private Limited, and plans to acquire 76% in Racemosa Energy. However, the U.S. Customs and Border Protection has initiated an investigation into the company regarding the origin of components used in solar modules exported to the United States.

16Oct 25

Waaree Energies Reports Record Quarterly Performance with 70% Revenue Growth, Declares ₹2 Interim Dividend

Waaree Energies announced its best quarterly performance with total income of ₹6,226.54 crores, up 69.96% YoY. EBITDA rose 155.29% to ₹1,567.30 crores, and PAT increased 133.78% to ₹878.21 crores. The company declared an interim dividend of ₹2.00 per share and approved ₹8,175 crores for capacity expansion. Waaree maintains a 24 GW orderbook worth ₹47,000 crores. The company is under investigation by U.S. Customs regarding the origin of components in its solar modules exported to the US.

15Oct 25

Waaree Energies to Announce Q2 FY26 Results, Consider Interim Dividend

Waaree Energies Ltd, a solar module manufacturer, will release its Q2 and H1 FY26 unaudited financial results on October 16, 2025. The Board will also consider an interim dividend for FY 2025-26. An analyst call is scheduled for October 17, 2025. The company's stock has shown strong performance with a 59.79% gain over 6 months, currently trading at ₹3,584.00 on NSE.

14Oct 25

Waaree Energies' Success Propels Doshi Siblings to Forbes India Rich List

Waaree Energies, India's largest solar module manufacturer, has elevated the Doshi siblings to the 37th rank on the Forbes India Rich List with a collective wealth of $7.40 billion. The company's strong market performance, including a 70% premium listing and over 50% post-listing gain, has driven this wealth accumulation. Waaree reported a 89% year-on-year increase in consolidated net profit to ₹745 crore and a 30% rise in revenue to ₹4,426 crore in Q1. With an installed capacity of 13.3 GW, the company plans further expansion with approved capex of ₹2,754 crore for cell and ingot-wafer capacity increases. Recent corporate developments include investment in a subsidiary and plans for private placement to facilitate business expansion.

13Oct 25

Waaree Energies Inks Deal for 10.07% Stake Sale in Energy Storage Subsidiary

Waaree Energies Limited has entered into a Share Subscription cum Shareholder's Agreement with its subsidiary, Waaree Energy Storage Solutions Private Limited (WESSPL), and investors. The deal involves offering up to 10.07% of WESSPL's share capital through private placement for business expansion. WESSPL will remain a subsidiary of Waaree Energies post-transaction. The company has also scheduled a Board meeting on October 16, 2025, to discuss Q2 FY2025-26 financial results and potential interim dividend. A trading window closure has been implemented from October 1, 2025, until 48 hours after the Q2 results declaration.

01Oct 25

Waaree Energies Unveils Massive Rs 8,175 Crore Expansion Plan Across Three Subsidiaries

Waaree Energies Limited has approved a Rs 8,175 crore expansion plan for its subsidiaries. The company will increase its Lithium Ion cell manufacturing capacity from 3.50 GWh to 20.00 GWh with an Rs 8,000 crore investment. Electrolyser production will grow from 300 MW to 1,000 MW with a Rs 125 crore investment. Inverter manufacturing capacity will increase from 3 GW to 4 GW with a Rs 50 crore investment. This expansion follows an earlier announcement and aims to strengthen Waaree's position in the renewable energy sector.

30Sept 25

Waaree Energies Expands Manufacturing Capacity Amid Favorable Policy Changes

Waaree Energies has established a 950 MW solar module production plant in Gujarat. This expansion coincides with the implementation of anti-dumping duties on solar cell imports from China, potentially benefiting domestic manufacturers like Waaree. The new facility significantly increases Waaree's manufacturing capabilities, positioning the company to meet growing demand in the renewable energy market and potentially increase its market share.

26Sept 25

US Launches Probe into Waaree Energies for Alleged Solar Tariff Evasion

Waaree Energies, India's largest solar panel maker, is under investigation by US Customs and Border Protection for allegedly evading anti-dumping and countervailing duties on solar cells. The probe, which includes Waaree's US subsidiary, stems from accusations of mislabeling Chinese solar cells as Indian. US authorities have implemented interim measures citing reasonable suspicion. This investigation adds to Waaree's challenges in the US market, where punitive tariffs on India's renewable sector already exist. Despite this, Waaree continues to expand, recently incorporating a new subsidiary for independent power production projects.

25Sept 25

Waaree Energies Expands Operations: CEO Highlights India's Renewable Energy Progress and Subsidiary Creates Step-Down Company

Waaree Energies CEO Amit Paithankar highlighted India's progress in renewable energy self-sufficiency. India aims for 290 GW solar capacity by 2030 and 1800 GW by 2047, with current cell manufacturing capacity at 25-30 GW. The government is pushing for localization of the entire solar value chain. Paithankar believes India could be self-reliant in the complete solar chain within 3-5 years. He also noted that a GST rate reduction could cut project costs by 5%. Waaree Energies invested Rs. 300 crores in its subsidiary for a 3.5 GWh Lithium Ion storage cell plant and incorporated a step-down company for new power projects.

24Sept 25

Waaree Energies Invests ₹300 Crore in Subsidiary for Lithium-Ion Storage Plant

Waaree Energies Limited has invested ₹300 crore in its wholly-owned subsidiary, Waaree Energy Storage Solutions Private Limited (WESSPL), through a rights issue. The investment aims to establish a 3.5 GWh Lithium-Ion storage cell manufacturing plant. The company issued 60 crore partly paid-up equity shares with a face value of ₹10 each at par. This strategic move is expected to strengthen Waaree's position in the energy storage market and complement its existing solar energy business.

18Sept 25

Waaree Energies' Subsidiary to Acquire 76% Stake in Smart Meter Manufacturer for ₹53 Crores

Waaree Energies Limited's subsidiary, Waaree Power Private Limited, is set to acquire a 76% stake in Racemosa Energy (India) Private Limited, a smart meter manufacturer, for approximately ₹53.00 crores. The acquisition, approved by Waaree's Board of Directors, aims to expand the company's presence across the energy value chain. The deal is expected to be completed by fiscal year 2025-26, subject to regulatory approvals and closing conditions. This strategic move will diversify Waaree's product portfolio and enhance its capabilities in energy management and distribution solutions.

17Sept 25

Waaree Energies to Offload 14.66% Stake in Indosolar via Offer for Sale

Waaree Energies plans to sell 61,00,000 equity shares (14.66%) of Indosolar Limited through an Offer for Sale (OFS) on September 18-19, 2025. The floor price is set at ₹500.00 per share. The sale aims to comply with minimum public shareholding requirements. Non-retail investors can bid on the first day, while both retail and non-retail investors can participate on the second day. 25% of shares are reserved for mutual funds and insurance companies, and 10% for retail investors.

15Sept 25

Waaree Energies' Singapore Subsidiary Struck Off, Ceases to be a Wholly Owned Subsidiary

Waaree Energies Limited announced that its wholly owned subsidiary in Singapore, Rasila International Pte Ltd, has been struck off from the Accounting & Corporate Regulatory Authority (ACRA) effective August 9, 2025. The subsidiary was described as dormant with no financial activity in FY 2024-25. This action was not part of any sale transaction and no consideration was received. The company has informed both BSE and NSE about this development in compliance with SEBI regulations.

15Sept 25

Waaree Energies' Subsidiary Establishes Three Step-down Companies for Future Power Projects

Waaree Energies' subsidiary, Waaree Forever Energies Private Limited, has incorporated three new step-down companies. These entities are intended to hold and manage upcoming power projects, indicating a strategic expansion of Waaree Energies' power project portfolio. This move suggests a proactive approach to structuring the business for future power project acquisitions or developments, potentially streamlining project management and optimizing financial structures for individual projects.

12Sept 25

Waaree Energies Expands Renewable Energy Portfolio with Three New Subsidiaries

Waaree Energies Limited, through its subsidiary Waaree Forever Energies Private Limited, has incorporated three new wholly-owned subsidiaries: Waaree Forever Energies Four, Five, and One Private Limited. These entities, registered in Mumbai, are focused on the Independent Power Producer (IPP) sector and are intended to hold specific power projects. The subsidiaries were incorporated between September 10-12 and have not yet commenced operations. This strategic move aims to strengthen Waaree's position in the renewable energy market and expand its project capabilities.

11Sept 25

Waaree Energies Hits Record High on GST Rate Cut Benefits for Solar Sector

Waaree Energies' share price reached an all-time high of Rs 3,748.00, up 7.77%. CEO Amit Paithankar highlighted the positive impact of GST rate cuts on the solar industry, expecting a 5% reduction in project costs. The company reported an 89% increase in consolidated net profit to Rs 745.00 crore. Stock performance shows a 57.7% gain over 12 months and 29% year-to-date. Analyst opinions are mixed with 4 buy and 3 sell ratings. Waaree received approval for reclassifying Metafin Cleantech Finance Pvt. Ltd. from promoter to public category.

09Sept 25

Waaree Energies Secures Exchange Approval for Promoter Group Reclassification

Waaree Energies Limited has obtained approval from BSE and NSE to reclassify Metafin Cleantech Finance Private Limited from promoter group to public shareholder status. The approval was granted on September 8, 2025, following an application submitted in May. Metafin Cleantech currently holds zero equity shares in Waaree Energies. The company also announced a physical meeting with investors scheduled for September 12, 2025, at their manufacturing plant in Gujarat.

02Sept 25

Waaree Energies Expands Portfolio with Strategic Acquisitions in Transformer and Renewable Energy Sectors

Waaree Energies Limited has announced two significant acquisitions. The company is acquiring a 64% stake in Kotson's Private Limited (KPL) for ₹192.00 crore, strengthening its transformer solutions business. Additionally, Waaree is acquiring 100% shareholding in Impactgrid Renewables Private Limited for ₹1.00 lakh, consolidating its position in the renewable energy sector. These moves aim to enhance vertical integration, expand market reach, and improve supply chain control.

29Aug 25

Waaree Energies Maintains 14% Market Share as India's Top Solar Module Supplier

Waaree Energies Ltd has secured a 14% market share in India's solar module market for H1 FY2025. India added 4.2 GW of utility-scale and 1.3 GW of rooftop solar capacity in Q1 FY2025, reaching a cumulative 91 GW. Waaree boasts a global module manufacturing capacity of 16.7 GW and a domestic cell manufacturing capacity of 5.4 GW. The company has also secured international orders, including 452 MW in the US. India aims for 500 GW of renewable energy capacity by 2030, with over 30 GW of solar capacity projected to be added in FY2026.

28Aug 25

Waaree Energies Shares Surge on 452 MW US Solar Contract Win

Waaree Energies Ltd's shares rose 4% to Rs 3,394.00, extending a two-day rally to 7.7%, following a 452 MW solar module order secured by its US subsidiary, Waaree Solar Americas. The contract, to be executed over FY25-26 and FY26-27, adds to recent large US orders totaling 1,725 MW. Waaree is expanding its Texas plant capacity to 3.2 GW by 2025. Q1 FY24 results show strong growth with consolidated net profit up 20.3% QoQ to Rs 745.00 crore and improved operating margins of 22.5%.

26Aug 25

Waaree Energies Secures Massive 452MW Solar Module Supply Order for US Market

Waaree Energies' subsidiary, Waaree Solar Americas, has received an order for 452MW of solar modules from a prominent US-based developer. The supply will be delivered over FY 2025-26 and FY 2026-27. This order marks a significant step in Waaree's international expansion, particularly in the competitive US market. The company has also announced upcoming investor interactions, including participation in the Motilal Oswal Annual Global Investor Conference and a plant visit for investors.

21Aug 25

Waaree Energies Launches Lightweight Solar Modules and Clarifies Enel Green Power Deal Status

Waaree Energies has introduced innovative Flexible Light-Weight solar modules, 70% lighter than conventional panels and suitable for curved surfaces. The modules offer up to 500W output with 18% efficiency. Separately, the company clarified that its deal with Enel Green Power is under review, not terminated as rumored. Waaree Energies shares closed at ₹3,225.00 on NSE, up 2.33%.

19Aug 25

Waaree Energies Addresses Speculation on Enel Green Power Acquisition

Waaree Energies has addressed media reports suggesting its acquisition deal with Enel Green Power was collapsing. The company confirmed that the Share Purchase Agreement for acquiring 100% of Enel Green Power India Private Limited is still under active consideration, with ongoing discussions about commercial terms. Waaree denied the deal's collapse, emphasized transparency, and attributed recent share price fluctuations to market forces. The company pledged to make necessary disclosures in compliance with regulations.

13Aug 25

US Initiates Anti-Dumping Probe on Indian Solar Cells, Waaree Energies in Focus

The US Department of Commerce has initiated antidumping and countervailing duty investigations on crystalline silicon photovoltaic cells imported from India, Indonesia, and Laos. The probe alleges India is dumping solar cells with a 123.00% margin and a 2.00% subsidy rate. Waaree Energies, a major Indian solar manufacturer with a 25 GW order book valued at ₹49,000 crore, is directly affected. Exports make up 41.30% of Waaree's orders, and its shares have declined 4.00% in the past month. The investigation's preliminary findings are due on September 2, 2025, potentially impacting the entire Indian solar industry's global competitiveness.

11Aug 25

Waaree Energies Reports Significant Delays in IPO Fund Utilization, Seeks Shareholder Approval for Project Relocation

Waaree Energies Limited has utilized only Rs. 764.72 crore out of Rs. 3,600.00 crore raised from its IPO in October 2024. The company's Board has approved changes in project locations and revised project timelines, subject to shareholder approval. Manufacturing facilities are being shifted from Odisha to Gujarat and Maharashtra. Project completion dates have been postponed, with solar module completion now set for December 2025, solar cell for September 2027, and ingot wafer for March 2027. The company has parked unutilized funds in term deposits with scheduled commercial banks, totaling Rs. 2,934.99 crore including interest. Management plans to utilize the funds in FY 2025-26 and FY 2026-27 after shareholder approval.

07Aug 25

Waaree Energies Reports Strong Q1 Results, Expands Manufacturing Capacity

Waaree Energies Limited reported robust Q1 financial results with significant growth across key metrics. Revenue increased 31.5% to ₹4,597.00 crore, EBITDA grew 82-83% to ₹1,169.00 crore, and PAT rose 93% to ₹773.00 crore. The company achieved record quarterly production of 2.3 GW, up 64% year-over-year. Waaree announced plans to expand module capacity to 26 GW and solar cell capacity to 16 GW by FY27, along with a new 10 GW ingot and wafer facility. The company is also diversifying into battery energy storage, inverter manufacturing, and hydrogen electrolyzers. Waaree maintains its EBITDA guidance of ₹5,500.00 - ₹6,000.00 crore for the current fiscal year.

06Aug 25

Waaree Energies Reports Stellar Q1 Results with 31% Revenue Growth and 83% EBITDA Surge

Waaree Energies, a solar energy leader, reported impressive Q1 financial results. Revenue increased 31% YoY to ₹4,597.00 crores, EBITDA surged 83% to ₹1,169.00 crores, and PAT jumped 93% to ₹773.00 crores. The company achieved record production of 2.3 GW, up 64% YoY. With a robust order book of 25 GW worth ₹49,000.00 crores and a pipeline exceeding 100 GW, Waaree plans significant capacity expansions across modules, cells, and ingot-wafers by FY27. The board approved an additional ₹2,754.00 crores investment for capacity expansion. The company secured 2.23 GW of new US orders and maintains its EBITDA guidance of ₹5,500.00-6,000.00 crores for the fiscal year.

31Jul 25

Waaree Energies Launches New 1.80 GW Solar Module Manufacturing Facility in Gujarat

Waaree Energies Limited has started operations at its new 1.80 GW solar module manufacturing facility in Navsari, Gujarat. The plant began operations on July 31, 2025, at 10:00 am. This expansion significantly boosts Waaree's production capacity in the solar module segment, potentially strengthening its market position in the solar energy sector. The company has duly informed the BSE and NSE about this development, demonstrating regulatory compliance.

28Jul 25

Waaree Energies Maintains Strong Q1 FY26 Performance, Reaffirms EBITDA Forecast

Waaree Energies Limited reported robust Q1 FY26 results with total income up 31.48% to ₹4,597.18 crore, EBITDA up 82.61% to ₹1,168.67 crore, and PAT up 92.68% to ₹772.89 crore year-on-year. The company achieved record quarterly module production of 2.3 GW and maintains an order book of ~25 GW valued at ₹49,000 crore. Waaree reaffirmed its FY26 EBITDA guidance of ₹5,500 to ₹6,000 crore. The Board approved additional capex of ₹2,754 crore for capacity expansion in Gujarat and Maharashtra. Waaree operates with 15 GW module and 5.4 GW cell capacity, with plans to commission more capacity in Texas and Gujarat.

28Jul 25

Waaree Energies Acquires Voltshift Energy Transition, Expanding into Transformer Business

Waaree Energies Limited has acquired Voltshift Energy Transition Private Limited for Rs. 1.00 Lakh, marking its entry into the transformer manufacturing business. The acquisition was made through its wholly-owned subsidiary, Waaree Forever Energies Private Limited. Waaree also reported consolidated revenue of Rs. 4,425.83 crore and net profit of Rs. 745.20 crore for the quarter ended June 30, 2025. The company has approved capital expenditure plans totaling Rs. 2,754.00 Crores for setting up new manufacturing facilities in Gujarat and Maharashtra.

28Jul 25

Waaree Energies Reports Strong Q1FY26 Results with 83% EBITDA Growth, Schedules Investor Meet

Waaree Energies Limited reported impressive Q1FY26 results with revenue of ₹4,597.00 crores (31% YoY growth) and PAT of ₹773.00 crores (93% YoY growth). The company's Board approved ₹2,754.00 crore capex for new manufacturing facilities, including a 4 GW cell plant in Gujarat and a 4 GW ingot-wafer plant in Maharashtra. Current capacity stands at 15 GW for modules and 5.4 GW for cells. Waaree provided FY26 EBITDA guidance of ₹5,500.00-6,000.00 crores and scheduled an investor meeting for July 30, 2025.

26Jul 25

Waaree Energies to Announce Q1 FY26 Results on July 28, Earnings Call Scheduled

Waaree Energies, India's largest solar module manufacturer, will release its Q1 FY26 financial results on July 28. The company has scheduled an earnings call for July 30 at 4:30 p.m. IST. The trading window for designated persons is closed from July 1 until 48 hours after the results declaration. In Q4 FY25, Waaree reported a consolidated net profit of ₹644.47 crore, up 35.60% YoY, and total income of ₹4,140.92 crore, up 37.70% YoY. The company's stock closed at ₹3,190.10 on Friday, showing a 45.26% gain over six months and an 11.46% year-to-date increase.

26Jul 25

Madhuri Kela Exits Waaree Energies Amid 112% Stock Rally; Company Schedules Q1 FY26 Results Call

Madhuri Madhusudan Kela has exited her 1.16% stake in Waaree Energies as per the June 30, 2025 shareholding data. The company's stock has surged 112.60% since its IPO in October 2024, with recent gains across various timeframes. Waaree Energies has scheduled a Q1 FY26 results conference call for July 30, 2025, featuring key company representatives to discuss financial performance.

20Jul 25

Waaree Energies' US Subsidiary Secures Massive 500MW Solar Module Supply Contract

Waaree Energies' US subsidiary, Waaree Solar Americas, has secured a 500MW solar module supply contract from a prominent US-based customer. The order, announced on July 19, 2025, is for delivery in FY 2026-27 to a developer and owner-operator of utility-scale solar and energy storage projects across the United States. This significant contract marks a milestone in Waaree Energies' expansion into the US solar market, demonstrating the company's growing competitiveness in one of the world's largest renewable energy markets.

17Jul 25

Waaree Energies Calls Off ₹293 Crore Acquisition of Kamath Transformers, Reports Strong Q4 Results

Waaree Energies Ltd has cancelled its planned ₹293 crore acquisition of Kamath Transformers Private Limited due to failure to agree on terms within the set timeframe. Despite this setback, Waaree reported strong Q4 financial results with an EBITDA of ₹920.00 crore and a profit of ₹620.00 crore.

16Jul 25

Waaree Energies Cancels ₹293 Crore Acquisition of Kamath Transformers, Reports Strong Q4 Results

Waaree Energies Ltd has cancelled its proposed ₹293 crore acquisition of Kamath Transformers Private Limited due to inability to agree on terms within the set timeline. The company reported strong Q4 results with net profit of ₹618.90 crore (up 34.10% YoY) and revenue of ₹4,003.90 crore (up 36.40% YoY).

10Jul 25

Waaree Energies: Launches OFS for 2.4% Stake in Indosolar Subsidiary

Waaree Energies plans to sell 10,00,000 equity shares (2.40%) of Indosolar Limited on July 10-11, 2025, to comply with Sebi's Minimum Public Shareholding requirements. Antique Stock Broking will act as the seller's broker for the Offer for Sale (OFS).

01Jul 25

Waaree Energies Secures 540 MW US Solar Module Contract, Boosts Order Book to 25 GW

Waaree Energies' US subsidiary has won a 540 MW solar module supply contract from a major American developer. The contract involves phased delivery: 270 MW in 2025 and 270 MW in 2027-2028. This adds to recent US orders of 586 MW and 599 MW. Waaree is expanding its Texas facility to 3.2 GW capacity by end-2025. The company's order book now stands at 25 GW through 2027.

30Jun 25

Waaree Energies' U.S. Subsidiary Secures 540 MW Solar Module Contract

Waaree Energies' U.S. subsidiary has secured a 540 MW solar module supply contract from a leading American developer. The contract involves delivering 270 MW in 2025 and 270 MW in 2027-2028. This adds to recent U.S. orders of 586 MW and 599 MW. Waaree is expanding its Texas facility to reach 3.2 GW capacity by end of 2025. The company reports a 25 GW order book through 2027.

27Jun 25

Waaree Energies' Subsidiary Clinches 540MW Solar Panel Contract

A subsidiary of Waaree Energies, a major player in renewable energy, has been awarded a contract to supply 540 megawatts of solar panels. This significant order is expected to boost the company's revenue, strengthen its market position, and showcase its production capabilities in the competitive solar energy industry. The contract comes amid global growth in the renewable energy sector, particularly in solar power.

27Jun 25

Waaree Energies' US Subsidiary Clinches 540 MW Solar Module Supply Deal

Waaree Energies' US subsidiary, Waaree Solar Americas, has secured a 540 MW solar module supply contract from a major American utility-scale solar developer. The contract involves phased delivery with 270 MW in 2025 and the remaining 270 MW during 2027-2028. This adds to recent large orders of 586 MW and 599 MW, highlighting Waaree's growing presence in the US market. The company plans to double its manufacturing capacity in Texas to 3.20 GW by the end of 2025 and confirms compliance with US trade norms.

27Jun 25

WaareeIndo (Formerly Indosolar) Soars Post-Acquisition, Reports Q3 Profit

WaareeIndo, formerly Indosolar, has shown a significant turnaround since its acquisition by Waaree Energies through CIRP. The company's stock has been consistently hitting upper circuits since relisting. Despite a 100:1 share reduction, investor interest remains strong. WaareeIndo reported a Q3 net profit of ₹9.48 crore, marking a shift from previous losses. The market's positive response suggests confidence in the changes implemented post-acquisition.

23Jun 25

Waaree Energies Realigns 6 GW Solar Manufacturing Capacity Strategy

Waaree Energies announces a strategic realignment of its 6 GW integrated solar manufacturing capacity plan. The company will distribute the capacity across multiple locations to accelerate project momentum and optimize resource utilization. Waaree reaffirms its commitment to Odisha, emphasizing the state's continued importance in its strategic plans. This move is expected to impact the company's operations across various geographies and potentially influence the broader solar manufacturing ecosystem in India.

19Jun 25

Waaree Energies to Double US Manufacturing Capacity, Secures Large Orders

Waaree Energies plans to expand its US manufacturing capacity to 3.2 GW by 2025. The company secured orders for 586 MW and 599 MW module supply in the US. Waaree reports a 25 GW order book through 2027 and remains largely unaffected by the 'One Big Beautiful Bill' policy. The company emphasizes compliance with FEOC regulations.

12Jun 25

Waaree Energies Secures 150 MW Solar Power Supply Agreement

Waaree Energies has entered into a Power Purchase Agreement (PPA) for the supply of 150 megawatts (MW) of solar power. The agreement marks a significant move in the solar power market for the company, although specific details such as duration, pricing terms, and the counterparty remain undisclosed. This deal is expected to provide long-term revenue stability for Waaree and demonstrates its capacity to handle large-scale projects in the growing renewable energy sector.

11Jun 25

Waaree Energies Secures 150 MW Solar Power Supply Agreement

Waaree Energies has signed a Power Purchase Agreement (PPA) for the supply of 150 megawatts (MW) of solar power. This agreement marks a significant expansion in the company's solar power generation and distribution capabilities. The deal is expected to provide a stable, long-term revenue source for Waaree Energies and strengthen its position in the competitive solar energy sector. This PPA aligns with the broader trend of increasing adoption of renewable energy sources in India's energy mix.

11Jun 25

Waaree Energies' US Subsidiary Secures 599 MW Solar Module Order

Waaree Solar Americas, a subsidiary of Waaree Energies, has received an order to supply 599 MW of solar modules to a major US client. This significant order is expected to boost Waaree Energies' revenue, strengthen its market position, and potentially increase production capacity utilization. The company's stock rose over 4% to Rs 2,955.00 on the BSE following the announcement, reflecting positive investor sentiment.

04Jun 25

Waaree Energies to Offload 1.15% Stake in Indosolar via OFS

Waaree Energies plans to sell 4,76,495 shares (1.15% stake) in Indosolar through an offer for sale (OFS) on June 5-6, 2025. The floor price is set at ₹10.00 per share. Non-retail investors can bid on June 5, while retail investors can participate on June 6. The offer includes a 10% reservation for retail investors and 25% for mutual funds and insurers. This move aims to comply with minimum public shareholding norms.

29May 25

Waaree Energies Subsidiary Secures $176 Million Solar Module Order for U.S. Market

Waaree Energies' subsidiary, Waaree Solar Americas, has secured a $176 million (₹1,500 crore) order to supply 586 MW of solar modules to a U.S. utility-scale solar developer. The supply is scheduled to begin in FY 2027. This order significantly boosts Waaree's order book and demonstrates its strong position in the global solar module market. The company has also made strategic acquisitions, including Kamath Transformers and Green New Delhi Forever Energy Pvt Ltd, to strengthen its market position.

27May 25

Waaree Energies' Subsidiary Backs Out of Stake Acquisition in Ewaa Renewable

Waaree Power Pvt Ltd, a subsidiary of Waaree Energies, has cancelled its agreement to acquire a stake in Ewaa Renewable Techno Solutions. The size of the stake and financial terms were not disclosed. This decision may affect Waaree Energies' expansion strategy in the renewable energy market, potentially leading to a reassessment of its growth plans and partnerships.

23May 25

WAAREE Energies Sees Opportunity in US Tax Bill, Not Listed as Entity of Concern

WAAREE Energies, a major Indian renewable energy company, views the new US tax bill as an opportunity for India. The company is not included in the list of entities of concern related to the bill, which is seen as a positive sign for the Indian renewable energy industry. This development could potentially open up opportunities for Indian firms in the sector, reflecting the interconnected nature of global energy policies and their impact on emerging markets.

23May 25

Waaree Energies May Face Headwinds as US Plans Early End to Clean Energy Tax Credits

The US government has passed a bill to end clean energy tax credits earlier than planned, potentially affecting solar and wind energy projects. This policy shift could challenge Waaree Energies, a key player in the renewable energy sector, particularly in its US operations. The decision may impact project viability, slow investments in renewable energy, and alter market dynamics in the US clean energy sector. Companies like Waaree Energies may need to reassess strategies and explore alternative markets in response to these regulatory changes.

20May 25

Waaree Energies Expands with Rs 293 Crore Acquisition of Kamath Transformers

Waaree Energies has approved two significant acquisitions: Kamath Transformers Private Ltd for Rs 293.00 crore and Green New Delhi Forever Energy Private Limited through its subsidiary. Both acquisitions are set to be completed by FY26 and will be funded through cash. These moves aim to enhance Waaree's market position in the transformer segment and expand its footprint in the renewable energy sector.

19May 25

Waaree Energies Approves Acquisitions Worth Rs 293 Crore, Expanding Energy Portfolio

Waaree Energies has approved two significant acquisitions: Kamath Transformers Pvt Ltd for ₹293.00 crore and Green New Delhi Forever Energy Pvt Ltd through its subsidiary. These all-cash transactions, set to be completed by FY26, aim to strengthen Waaree's position in power infrastructure and green energy sectors. The acquisitions reflect the company's strategic expansion in the evolving energy market, particularly in transformer manufacturing and renewable energy solutions.

13May 25

Waaree Energies Boosts US Presence with $200M Investment, Total Commitment Reaches $1.2B

Waaree Energies, through its subsidiary Waaree Solar Americas Inc., is expanding its US operations with an additional $200 million investment, bringing its total US investment to $1.2 billion. This expansion is expected to create 300-500 new jobs and strengthen the company's position in the American renewable energy sector.

25Apr 25

Waaree Energies: Lock-in Period Ends as Q4 and FY25 Results Show Strong Growth

Waaree Energies' lock-in period for 53% of its shares (15 crore) has ended. Q4 FY25 results show net profit up 34.10% to ₹618.90 crore, revenue up 36.40% to ₹4,003.90 crore, and EBITDA doubled to ₹922.60 crore. FY25 performance: revenue increased 27.62% to ₹14,846.06 crore, PAT doubled to ₹1,932.15 crore. The company's growth and improved profitability coincide with the end of the lock-in period.

24Apr 25

Waaree Energies: Strong Q4 Performance, Ambitious Targets, and Mixed Analyst Views

Waaree Energies posted impressive Q4 FY25 results with revenue up 36% YoY to Rs 4,000 crore. The company projects over 100% EBITDA growth for FY26, targeting Rs 5,500-6,000 crore. Despite strong performance, the stock declined 6% post-results. Analysts are divided: Nuvama maintains a 'Buy' rating with a higher target, while Jefferies downgraded to 'Underperform'. The company plans to add 3.2 GW of module capacity and boasts a Rs 47,000 crore order book. A significant 53% of company equity will be released as the six-month shareholder lock-in period ends on April 25.

23Apr 25

Waaree Energies Reports Strong Q4 and FY25 Results, Eyes Expansion in US Market

Waaree Energies Limited announced robust financial results for Q4 and FY2025. Q4 consolidated revenue increased 37.69% YoY to ₹4,140.92 crore, with net profit surging 254.52% to ₹648.49 crore. FY2025 total income rose 27.62% to ₹14,846.06 crore, with net profit growing 107.08% to ₹1,932.15 crore. The company expanded operations, operationalizing a 1.6 GW module facility in Texas, USA. Waaree plans further expansions in the USA and India, projecting FY26 EBITDA between ₹5,500-6,000 crore. With a 14.1% market share in India and a substantial order book of 25 GW valued at ₹47,000 crore, Waaree is positioned for continued growth in the solar energy market.

23Apr 25

Waaree Energies Reports Strong Q4 Results, Expects Robust Order Book for FY26 and FY27

Waaree Energies Limited reported impressive Q4 FY25 results with consolidated revenue up 37.69% to ₹4,140.92 crore and net profit surging 254.52% to ₹648.49 crore year-on-year. Module production increased to 2.06 GW from 1.35 GW in Q4 FY24. The company plans to expand manufacturing capacity in Texas, USA and Chikhli, India. Waaree's credit rating was upgraded to CARE A+ stable. The company also entered an agreement to acquire Enel Green Power India Private Limited for up to ₹792 crore, aiming to expand its solar and wind project portfolio.

23Apr 25

Waaree Energies Reports Strong Q4 and FY25 Results, Approves Subsidiary Restructuring

Waaree Energies Limited reported significant growth in Q4 FY25 with revenue up 37.69% to ₹4,140.92 crore, EBITDA doubling to ₹1,059.57 crore, and net profit surging 254.52% to ₹648.49 crore. Full-year FY25 results showed similar strength. The company approved subsidiary restructuring, plans to acquire four IPP companies, and expand manufacturing capacity in the USA and India. With a 25 GW order book valued at ₹47,000 crore, Waaree projects FY26 EBITDA between ₹5,500-6,000 crore.

23Apr 25

Waaree Energies Reports Strong Q4 Results, Projects Robust FY26 EBITDA

Waaree Energies Limited announced impressive Q4 FY25 results with total income up 37.69% YoY to ₹4,140.92 crore and net profit surging 254.52% to ₹648.49 crore. For FY25, the company reported a 27.62% increase in total income to ₹14,846.06 crore and a 107.08% jump in net profit to ₹1,932.15 crore. The CEO projects FY26 EBITDA between ₹5,500-6,000 crore, up from ₹3,123.20 crore in FY25. Waaree increased production capacity to 2.06 GW, has a 25 GW order book worth ₹47,000 crore, and opened India's largest cell facility in Gujarat. The company is expanding manufacturing capacity in the USA and India, upgraded its credit rating, and completed an IPO in October 2024.

23Apr 25

Waaree Energies: Strong Q4 Results Boost Stock, Lock-in Period Ending Soon

Waaree Energies Limited announced impressive Q4 FY25 results, with consolidated revenue reaching ₹4,003.90 crore, a 36.40% year-on-year increase. EBITDA doubled to ₹922.60 crore with a 23.00% margin, while net profit grew 34.10% to ₹618.90 crore. The company increased production capacity to 7.13 GW, launched new facilities in India and the USA, and made strategic moves including the acquisition of Enel Green Power India Private Limited. Future plans include additional manufacturing capacity expansions in Texas and near Pune.

22Apr 25

Waaree Energies Reports Strong Q4 Financial Performance: Profit Surges 255%, Beats Estimates

Waaree Energies Limited, India's leading solar module manufacturer, reported exceptional Q4 FY25 results. Revenue increased by 36.4% to ₹4,003.93 crore, while net profit soared 254.52% to ₹648.49 crore. EBITDA doubled to ₹1,059.57 crore with a margin expansion to 25.59%. The company's annual performance was equally impressive, with FY25 revenue growing 27.62% and net profit doubling. Waaree also announced expansion plans, including new manufacturing lines in the USA and India, and operationalized India's largest cell manufacturing facility.