Waaree Energies slides after tax department launches investigation

Waaree Energies dropped 3.93% to Rs 3,154 after the company reported that officials from the Income Tax Department had visited several of its offices and facilities across India.

The visits were part of an ongoing investigation being conducted under the Income Tax Act of 1961.

In a regulatory filing, the company stated that the proceedings are currently in progress and that it is extending full cooperation to the authorities.

Mumbai-based Waaree Energies is a renewable energy company. It offers innovative solar solutions, including panel manufacturing, EPC services, project development, and rooftop systems.

Waaree Energies reported a 132.97% year-on-year (YoY) surge in consolidated net profit to Rs 842.55 crore in Q2 FY26, compared to Rs 361.65 crore recorded in the same quarter last year. Revenue from operations jumped 69.69% YoY to Rs 6,065.64 crore in the quarter ended 30 September 2025.

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