Waaree Energies Clarifies ₹8,000+ Crore Battery Gigafactory Buzz

has issued a regulatory clarification stating that reports about a massive battery project in Andhra Pradesh relate to an already approved expansion plan and do not involve any new undisclosed developments. The company confirmed that its board, in a meeting held on October 1, 2025, had approved scaling up manufacturing capacity of lithium-ion Advanced Chemistry Storage Cells and Battery Energy Storage Systems (BESS) from 3.5 GWh to 20 GWh, backed by an additional capital expenditure of around ₹8,000 crore through its wholly owned subsidiary, Waaree Energy Storage Solutions. While media reports earlier suggested an investment of about ₹8,175 crore, the company clarified it is currently only in discussions with the Government of Andhra Pradesh and other states for setting up the proposed greenfield facility and will inform exchanges of any material developments. Management also emphasized that the recent share price movement is purely market-driven and that there is no unpublished price-sensitive information pending disclosure. On the financial front, the company reported strong performance, with Q3FY26 revenue rising to ₹7,565 crore from ₹3,457.29 crore YoY and net profit increasing to ₹1,106.79 crore from ₹506.88 crore.