Waaree Energies has commenced production at its newly constructed 1.80 GW solar module facility located in Degam village, Navsari District, Gujarat. The announcement was made through an exchange filing dated Thursday, July 31.
Earlier this week, the company posted strong financial results for the first quarter of FY26. Net profit rose 20.3% from the previous quarter, reaching ₹745 crore compared to ₹619 crore in Q4FY25. The firm’s operating performance showed marked improvement, supported by better efficiency and cost management.
Earnings before interest, taxes, depreciation, and amortization (EBITDA) rose sharply by 73.4% to ₹997 crore from ₹575 crore in the previous quarter. The EBITDA margin increased to 22.5% from 14.3%, reflecting stronger revenue per unit and tighter expense controls.
Last week, Waaree also completed the acquisition of Enel Green Power Development from EGPIPL, finalized on January 10, 2025. The purchase was aimed at expanding Waaree’s transformer division, which will now operate as a separate business unit within the broader company structure.
Founded in 1990, Waaree Energies Ltd is one of India’s foremost players in the renewable energy sector. Headquartered in Mumbai, Waaree operates world-class facilities with an installed capacity of 15 GW for solar modules and 5.4 GW for solar cells. With a footprint across India and over 25 international markets, the company delivers a comprehensive portfolio including module manufacturing, EPC services, project development, and rooftop installations. Waaree is committed to advancing clean energy solutions that are both scalable and cost-effective.
