Latest news with #WaareeEnergiesLtd
Business Upturn
29-07-2025
- Business
- Business Upturn
Waaree Energies shares rise over 3% after 89% YoY surge in Q1 profit
By Aditya Bhagchandani Published on July 29, 2025, 09:18 IST Shares of Waaree Energies Ltd jumped 3.47% on the BSE to ₹3,218.60 on Tuesday, after the company reported a robust 89% year-on-year (YoY) surge in consolidated net profit for the first quarter of FY26. The solar energy player posted a profit after tax (PAT) of ₹745 crore, sharply up from ₹394 crore in Q1 FY25. Sequentially, PAT rose 20% compared to ₹619 crore in Q4 FY25. Revenue from operations also impressed, climbing 30% YoY to ₹4,426 crore and marking an 11% sequential rise from ₹4,004 crore in the March quarter. Segment Highlights Solar Photovoltaic Modules : ₹3,872 crore in Q1FY26 vs ₹3,178 crore YoY and ₹3,617 crore QoQ EPC (Engineering, Procurement & Construction) : ₹589 crore vs ₹226 crore YoY and ₹465 crore QoQ Power Generation: ₹11 crore, flat YoY and up from ₹8 crore QoQ The company's total expenses for the quarter stood at ₹3,654 crore, up from ₹2,966 crore in Q1 FY25 and ₹3,291 crore in Q4 FY25. Spending rose mainly due to higher input costs, purchases, and employee benefit expenses. With continued growth across all verticals and strong sequential momentum, investor sentiment appears optimistic, reflected in Tuesday's share price action. Ahmedabad Plane Crash Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
New Indian Express
22-06-2025
- Business
- New Indian Express
Waaree Energies CEO denies pulling out of Odisha, says Dhenkanal solar project on track
BHUBANESWAR: Amid speculations over Waaree Energies Limited pulling out of its Dhenkanal solar project, the company on Saturday announced that it has no such plan. In a statement, the CEO of the company Amit Paithankar said in light of the board resolution passed on Friday, Waaree Energies Ltd has undertaken a strategic realignment of certain components of its planned 6 GW integrated solar manufacturing capacity across multiple geographies. This decision is aimed at accelerating project momentum, optimising resource utilisation and ensuring timely execution in line with the IPO objectives. 'We want to emphasise that we are not moving away from Odisha. Construction activities are actively ongoing and contracts for the facility have been duly awarded and are being executed as planned. Our commitment to Odisha remains strong,' the statement said. Odisha, he said, continues to hold a significant and strategic place in the long-term business roadmap of the company. It is actively exploring meaningful avenues for collaboration that advance both the state and national renewable energy goals. 'Odisha will be an important and integral part of our future plans,' he added. The company's recent announcement of new solar manufacturing facilities in Gujarat, Maharashtra and Tamil Nadu had fuelled speculation that it may be reconsidering its Rs 25,000 crore investment in Odisha.
Time of India
11-06-2025
- Business
- Time of India
Waaree Solar Americas signs 599 MW module supply agreement with US power firm, to expand Texas plant to 3.2 GW
New Delhi: Waaree Solar Americas Inc., the US subsidiary of Waaree Energies Ltd, has signed a 599 MW solar module supply agreement with a US-based independent power producer, with the modules scheduled to be delivered from its Brookshire, Texas facility in the 2026 calendar year. The company, part of India's largest solar PV module manufacturer Waaree Energies, will produce the modules at its existing Brookshire facility, which is also set for a major expansion. The deal adds to Waaree's commercial momentum in the US, where the company secured more than 1.2 GW of new orders in the first quarter of FY25-26. 'This agreement is a strong testament to Waaree's commitment to developing a robust, US-based clean energy ecosystem ,' Sunil Rathi, President, Waaree Solar Americas, said in a statement. To meet rising demand, the company is establishing an additional 1.6 GW solar module manufacturing line at the same facility, which will take its total US capacity to 3.2 GW before the end of 2025. According to the company, demand from AI data centers , infrastructure upgrades, and industrial electrification is driving expansion in the US solar market. 'Our Brookshire facility is uniquely positioned to meet rising demand with high-quality, American-made modules, helping our partners deliver on ambitious energy targets while creating jobs and ensuring supply security,' Rathi said. The Brookshire manufacturing facility was set up to align with local content requirements in the United States and enable faster supply for utility-scale and commercial and industrial solar projects. Waaree Energies Ltd is a vertically integrated solar module manufacturer with significant capacity in India and growing international operations, including supply contracts across North America and other regions.
Mint
07-05-2025
- Business
- Mint
India-UK FTA a shot in the arm for India's green energy manufacturing space
New Delhi: India's landmark free trade agreement with the UK has come at an opportune time for domestic manufacturers of solar modules and wind turbines, potentially opening the doors wider for them to diversify their exports beyond the US. Indian manufacturers of renewable energy products are looking to export more solar modules and other green energy equipment as they seek to establish their presence in a global market dominated by Chinese companies. While a large chunk of India's $2 billion annual solar module exports goes to the US, shifting trade policies under US President Donald Trump and evolving global demand dynamics have made it imperative for Indian renewable energy companies to explore new markets. The India-UK FTA that concluded on 6 May promises to unlock major economic gains for India by eliminating tariffs on 99% of Indian exports, covering nearly 100% of the trade value, as the two countries aim to double bilateral trade to $100 billion by 2030. 'This is very positive news for Indian renewable component manufacturers opening a new potential market for us. However, any major gains are contingent on the UK imposing tariff or non-tariff barriers on other countries, the way US has done," said Vinay Rustagi, senior director, Premier Energies, a solar components manufacturer. 'Moreover, we expect this FTA to work as a template for agreements with other major markets including the EU and the US. Inclusion of similar provisions allowing duty-free Indian green energy components would be very beneficial for India," he added. That apart, the UK could emerge as a major market for Indian renewable energy component makers as Britain aims to achieve net zero carbon emission by 2050. Currently, nearly 80% of the UK's energy comes from fossil fuel sources, mainly natural gas and oil. But over the past two decades, the country's share of low-carbon electricity combined with biofuels for heating purposes has increased from 10% to 23%. 'The (UK's) clean energy industry will have brand new, unprecedented access to India's vast procurement market as the country makes the switch to renewable energy and continues to see growing energy demand," the British government said in a statement on Tuesday. Also read | Why the India-UK FTA has spooked medical device manufacturers. Hint: China India's solar module manufacturing capacity is expected to reach 125 GW by the end of this decade from 60 GW now. Waaree Energies Ltd, Adani Solar, Tata Power Solar Systems Ltd, and Vikram Solar are among major Indian exporters of green energy modules. India is also a net exporter of wind turbines. The country's current wind turbine and associated component manufacturing capacity is around 18 GW. To meet growing domestic as well as export demand, the government is looking to increase India's wind power capacity to 100 GW by 2030. In 2023-24, India exported turbines and related components worth $205 million. Some of the key turbine exporters from India are Vestas Wind Technology India Pvt. Ltd, Senvion India Pvt. Ltd, and Inox Wind Ltd. In April, the ministry of new and renewable energy issued a draft amendment to the procedure for including wind turbines in the revised list of models and manufacturers. In line with the approved list of models and manufacturers for solar modules, the proposed amendment aims to strengthen India's wind turbine manufacturing ecosystem by introducing non-tariff barriers that limit imports. Waaree shares climbed 1.9% to ₹ 2,632.00 apiece on Wednesday, while Inox Wind rose 2.225% to ₹ 168.50 per share. Also read | India-UK FTA: Can exporters seize the opportunity amid tough competition?
