Waaree Energies Accelerates Growth with ₹10,000 Crore Fundraising Plan and Strong Solar Demand

Waaree Energies Ltd (

) has received shareholder approval to raise up to ₹10,000 crore through a Qualified Institutional Placement (QIP), providing the company with significant financial flexibility to support its future expansion plans across the renewable energy value chain. The fundraising proposal allows the issuance of equity shares and other eligible securities to institutional investors. Alongside this, shareholders approved the appointment of Jignesh Devchandbhai Rathod as Director, as well as Whole-Time Director and Chief Executive Officer. The company also secured a new order to supply 800 MW of solar modules to a leading domestic energy solutions provider, with execution planned during FY27. Looking ahead, Waaree expects FY27 EBITDA to be in the range of ₹7,000–7,700 crore, supported by new capacities in batteries, ingots, wafers and solar cells, while aiming to maintain EBITDA margins around 20%. Operationally, the company delivered strong growth in the March quarter, with revenue rising to ₹1,102.4 crore from ₹476.6 crore, EBITDA increasing 63.7% to ₹206.8 crore from ₹126.3 crore, and net profit growing 66.1% to ₹155.7 crore from ₹93.8 crore. However, EBITDA margin declined to 18.8% from 26.5%, mainly due to a sharp increase in EPC contract costs, which rose to ₹871 crore from ₹335 crore. The latest developments highlight Waaree’s continued focus on scaling manufacturing capacity, strengthening its balance sheet and capitalising on the growing demand for renewable energy solutions in India. Disclaimer: This post is for informational purposes only and not a recommendation to buy or sell any securities. I, or my family, associates, or relatives, may have a financial interest in the securities mentioned.