Waaree Energies Ltd Share Price – NSE /  BSE

Capital Goods - Electrical Equipment, Mid Cap

Waaree Energies will hold a meeting of the Board of Directors of the Company on 29 April 2026.

The board has cleared the acquisition of additional equity in Waaree Transpower, taking its shareholding from 64.04% to 75.10%.

The acquisition will be carried out through a cash consideration of around Rs 190 crore at Rs 75 per share. The company expects to complete the stake acquisition by June 2026.

The move is aimed at supporting capacity expansion and strengthening the company?s transformer business.

Waaree Transpower is engaged in designing and manufacturing transformer solutions, with a current production capacity of 4,000 MVA.

In addition, the board has approved a capital expenditure of Rs 3,900 crore for setting up a glass manufacturing plant. The plant will be developed under its wholly owned subsidiary, Waaree Green Glass, with a planned capacity of 2,500 tonnes per day. The capex will be funded through a mix of debt and internal accruals.

Mumbai-based Waaree Energies is a renewable energy company with advanced manufacturing facilities and a total solar PV module capacity of about 22.3 GW globally, along with solar cell capacity of up to 5.4 GW. With a presence across India and over 25 countries, the company offers a comprehensive portfolio spanning solar panel and inverter manufacturing, EPC services, green hydrogen solutions, battery energy storage systems, green energy infrastructure and data centres.

On a consolidated basis, the company reported a 115.64% YoY jump in net profit to Rs 1,062.46 crore in Q3 FY26, compared with Rs 492.69 crore in the same quarter last year. Revenue from operations surged 118.81% YoY to Rs 7,565.05 crore for the quarter ended 31 December 2025.

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Amit Ashok Paithankar, who was earlier scheduled to step down in May 2026, has been relieved of his duties with effect from 20 March 2026, following a mutual agreement with the company.

Jignesh Rathod, who was serving as CEO-designate, has been associated with the company since 2007 and currently oversees operations across its manufacturing facilities. His appointment is for a term of five years, subject to shareholder approval.

Separately, Sonal Shrivastava has stepped down as CFO upon completion of her notice period. Abhishek Pareek, who joined Waaree in 2017 and currently serves as group head of finance, brings nearly two decades of experience across corporate finance, treasury, capital markets, and mergers and acquisitions (M&A). He has led several large-scale equity fundraises and debt financing initiatives.

As part of the broader leadership restructuring, the company has also approved the appointment of Munna Singh as deputy CFO and Varun Goenka as president of growth & strategy, both effective 1 April 2026.

Mumbai-based Waaree Energies is a renewable energy company. It offers innovative solar solutions, including panel manufacturing, EPC services, project development, and rooftop systems.

The company reported a 115.64% year-on-year (YoY) jump in consolidated net profit to Rs 1,062.46 crore in Q3 FY26, compared with Rs 492.69 crore recorded in the same quarter last year. Revenue from operations soared 118.81% YoY to Rs 7,565.05 crore for the quarter ended 31 December 2025.

Shares of Waaree Energies declined 3.86% to Rs 3,042 on the BSE.

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Waaree Energies today marked a significant milestone in India's journey toward energy security and manufacturing self-reliance with the groundbreaking ceremony for its upcoming integrated solar ingot and wafer manufacturing facility at Butibori, Nagpur.

The facility will house 10 GW capacity each for solar ingots and wafers, establishing it as India's largest integrated ingot and wafer manufacturing complex. The project represents a major step toward strengthening India's upstream solar manufacturing ecosystem and building a more resilient domestic supply chain for the country's rapidly expanding solar sector.

Spread across 300 acres and being developed with an investment of approximately Rs 6,200 crore, the facility will focus on the production of high-purity solar ingots and wafers, which form the critical foundation of the solar photovoltaic value chain. By strengthening domestic capabilities in these upstream components, the project will significantly reduce India's reliance on imported materials, enhance supply chain stability, and support the nation's long-term goal of achieving energy security through self-reliant clean energy manufacturing.

Once operational, the facility is expected to generate over 8,000 direct and indirect employment opportunities, contributing to regional economic development, skill creation, and industrial growth in Maharashtra.

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