Latest news with #WaareeEnergies
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Business Standard
6 hours ago
- Business
- Business Standard
Madhusudan Kela and Family sells entire Waaree Energies, Samhi Hotels stake
Madhusudan Kela and Family has exited from Waaree Energies and Samhi Hotels by selling their remaining stakes in the two companies, the latest shareholding data with the BSE showed on Tuesday. At the end of March quarter shareholding data, Madhuri Madhusudan Kela owned a 1.16 per cent stake in Waaree Energies, and 1.69 per cent holding in Samhi Hotels. However, as per the latest data on the BSE, Madhuri's name is no longer listed among the public shareholders in the June 2025 quarter. In addition, Madhusudan Kela also trimmed its stakeholding by offloading 94,672 shares or 0.31 per cent stake in financial services company Choice International in the April-June quarter. The combined value of the stake sale in these three companies stood at around Rs 1,132.10 crore. The stake in Samhi Hotels was valued at around Rs 83.24 crore, and the holding in Waaree Energies was worth around Rs 1,049 crore. It is not clear whether the Kela family has fully exited or if their shareholding has merely dropped below the 1 per cent disclosure threshold as prescribed by Sebi, under which individual holdings are not mandatorily required to be disclosed. Madhusudan Muralidhar Kela is an investor and entrepreneur who founded MK Ventures in 2018. He also founded Invexa Capital, a portfolio management venture. Prior to that, Madhusudan was a former head of equities at Reliance Capital. His wife Madhuri Kela (also known as Mahi Madhusudan Kela), co-manages their investment portfolio and is an active investor in her own right. Madhusudan Kela publicly owned stakes in 14 companies, including Choice International, Prataap Snacks and Mkventures Capital -- where Madhu Kela is the promoter -- with a combined net worth of Rs 2,870.52 crore as on July 29, 2025. The share sale indicates a reshuffle in one of the country's most closely followed individual portfolios. However, the family has not issued any official statement on the reasons behind the divestments. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Reuters
13 hours ago
- Business
- Reuters
India's Waaree Energies says US anti-dumping probe won't derail solar ambitions
July 29 (Reuters) - Indian solar panel maker Waaree Energies ( opens new tab said on Tuesday that it is "confident" about its exports to the United States and is prepared to address any potential anti-dumping investigation, after a coalition of solar manufacturers accused it of undercutting prices. The U.S. Commerce Department is reviewing a petition filed on July 17 by a group of domestic U.S. solar companies seeking tariffs on imports from India, Indonesia and Laos. The petition names Waaree among firms allegedly engaged in dumping low-cost panels to the detriment of U.S. manufacturers. In its first statement since the petition, Waaree denied the allegations and said its pricing practices are transparent and compliant with regulations. "We do not follow any predatory price practices, and therefore, as these investigations go through, we stand in a position of strength,' CEO Amit Paithankar told Reuters in an interview. The company said it received 2.23 gigawatts of orders from the U.S. in the last quarter and is expanding its manufacturing footprint in the country to mitigate any impact from potential tariffs. "If you are local to the U.S. from a manufacturing perspective, anti-dumping duties do not impact you as much," Paithankar said, adding that Waaree is doubling its U.S. manufacturing capacity to 3.2 GW by the end of the year. Despite growing regulatory scrutiny and policy shifts in the U.S. clean energy sector, Waaree said it sees no slowdown in solar exports due to power demand from data centers, manufacturing "reshoring", and transportation electrification in the U.S. "We also see a 100 GW order pipeline, with a significant portion from the U.S," Paithankar said. The company is exploring new markets aligned with India's trade agreements and is open to both organic and inorganic growth, including acquisitions in adjacent sectors like battery storage and hydrogen, the CEO said.
Business Standard
19 hours ago
- Business
- Business Standard
Waaree Energies gains after Q1 PAT jumps 89% YoY to Rs 745 cr
Waaree Energies added 3.78% to Rs 3,228.45 after the company's consolidated net profit jumped 89.1% to Rs 745.20 crore on 29.8% increase in revenue from operations to Rs 4,425.83 crore in Q1 FY26 over Q1 FY25. Profit before tax (PBT) climbed 77.8% YoY to Rs 943.36 crore in Q1FY26. EBITDA stood at Rs 1,168.67 crore, registering the growth of 82.61% compared with Rs 639.99 crore in Q1 FY25. EBITDA margin stood at 25.42% in Q1 FY26 as against 18.30% in Q1 FY25. Module production increased 64% to 2.3 GW in Q1 FY26 compared with 1.4 GW in Q1 FY25, driven by strong operational focus. Amit Paithankar, whole time director & CEO, Waaree Energies, said: Waaree Energies continues to deliver strong operational performance in Q1 FY26, building on the momentum of the previous fiscal. On the demand side we have a robust order book of approximately Rs 49,000 crore and a global pipeline of 100+ GW, reflecting positive market sentiments across key geographies. This quarter, Waaree achieved its highest-ever production of modules at 2.3 GW, underscoring the success of our efforts to improve production efficiency. Our factory build-out projects in India and the U.S. remain on track. A strong and sharp focus on costs and profitability is reflected in our financials. We maintain our FY26 EBITDA guidance of Rs 5,500 to Rs 6,000 crore." Mumbai-based Waaree Energies is a renewable energy company. It offers innovative solar solutions, including panel manufacturing, EPC services, project development, and rooftop systems.
Business Standard
19 hours ago
- Business
- Business Standard
Waaree Energies consolidated net profit rises 89.07% in the June 2025 quarter
Sales rise 29.83% to Rs 4425.83 crore Net profit of Waaree Energies rose 89.07% to Rs 745.20 crore in the quarter ended June 2025 as against Rs 394.14 crore during the previous quarter ended June 2024. Sales rose 29.83% to Rs 4425.83 crore in the quarter ended June 2025 as against Rs 3408.90 crore during the previous quarter ended June 2024. Particulars Quarter Ended Jun. 2025 Jun. 2024 % Var. Sales 4425.833408.90 30 OPM % 22.5316.21 - PBDT 1125.42606.29 86 PBT 943.36530.53 78 NP 745.20394.14 89
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Business Standard
19 hours ago
- Business
- Business Standard
Waaree Energies shares jump 6% as Q1 profit nearly doubles; details here
Shares of Waaree Energies rose nearly 6 per cent on Tuesday after the company reported a nearly 93 per cent rise in its net profit during the June quarter of the current financial year (Q1FY26). The electrical equipment maker's stock rose as much as 5.76 per cent during the day to ₹3,291 per share, the biggest intraday rise since June 30 this year. The stock pared gains to trade 4.7 per cent higher at ₹3,260 apiece, compared to a 0.2 per cent decline in Nifty 50 as of 10:50 AM. Shares of the company snapped two consecutive days of decline and currently trade at 4.8 times the average 30-day trading volume, according to Bloomberg. The counter has risen 13.8 per cent this year, compared to a 4.5 per cent advance in the benchmark Nifty 50. Waaree Energies has a total market capitalisation of ₹93,400.08 crore. Waaree Energies Q1 results The company posted a 93 per cent rise in its net profit to ₹773 crore in the June quarter compared to the year-ago period. The company had reported a net profit of ₹401.13 crore in the same quarter a year ago. The jump in the bottom line came mainly on the back of higher revenues. Total revenues rose to ₹4,597.18 crore in the quarter from ₹3,496.41 crore in the same period a year ago. The company said it achieved the highest quarterly module production of 2.3 GW in the first quarter of FY26, driven by a strong operational focus, and cell production continues to ramp up. "On the demand side, we have a robust order book of ₹49,000 crore and a global pipeline of 100+ GW, reflecting positive market sentiments across key geographies," Amit Paithankar, whole-time director and chief executive officer at Waaree Energies, said. "This quarter, Waaree achieved its highest-ever production of modules at 2.3 GW, underscoring the success of our efforts to improve production efficiency." Waaree Energies approves additional capex The firm's board approved an additional capital expenditure (capex) of ₹2,754 crore for the expansion of cell capacity by 4 Gigawatt (Gw) in Gujarat and Ingot-wafer by 4 Gw in Maharashtra. The capex will be spread over FY 2026-27 and will be financed through a combination of internal accruals and borrowed capital. About Waaree Energies Established in 1990, Waaree Energies is India's leading renewable energy company, accelerating the global energy transition. Headquartered in Mumbai, it operates manufacturing facilities with an installed capacity of 15 gigawatt (Gw) for solar PV modules and 5.4 Gw for solar cells.
