Explore Business Standard
Waaree Energies
Investment firm Niveshaay on Tuesday said it has led a Rs 325 crore funding round in Waaree Energy Storage Systems to expand the Waaree Group's battery arm. The fund will be used to enhance cell and pack manufacturing capacity, strengthen engineering and validation capabilities, and scale containerised Battery Energy Storage Systems (BESS) across India and select global markets. Niveshaay said it has cumulatively invested Rs 128 crore in the round through its Category II Niveshaay Sambhav Fund, Category III Niveshaay Hedgehogs Fund, and the newly launched one of India's first dedicated Collective Investment Vehicles (CIVs,) Niveshaay WESS Fund. Other co-investors in the round include Vivek Jain (Managing Director, Action Tesa and GrowthSphere) and Saket Agarwal (former Director, Apollo Pipes Ltd and Apollo Tricoat), among others, Niveshaay, the SEBI-registered investment advisory and boutique asset management firm said. "Battery storage will play a key role in India's clean energ
Waaree Energies reported more than two-fold rise in consolidated net profit to Rs 871.21 crore in the July-September quarter on the back of higher revenues. It had clocked a net profit of Rs 375.66 crore in the same period of the preceding 2024-25 financial year. The company's total income rose to Rs 6,226.54 crore in the quarter from Rs 3,663.47 crore in Q2FY25. Waaree Energies' expenses also increased to Rs 4,995.08 crore from Rs 3,164.63 crore in the year-ago period. The board of the company also approved a dividend of Rs 2 per equity share of face value of Rs 10 each for FY ending March 2026. The record date for the purpose of determining the entitlement of the shareholders for the interim dividend has been fixed as Friday, October 24, 2025, and the dividend will be paid to the shareholders on Thursday, November 06, 2025.
Waaree Renewable Technologies' consolidated net profit in September quarter more than doubled to Rs 116.34 crore on the back of higher revenues. The company had logged a consolidated net profit of Rs 53.51 crore in the quarter ended September 30, 2024, a BSE filing said. According to a company statement, the company recorded its highest-ever quarterly revenue and PAT (net profit), driven by robust execution, strong sectoral tailwinds, and continued expansion into new energy verticals including Battery Energy Storage Systems and data centres. The revenue stood at Rs 774.78 crore as against Rs 524.47 crore in Q2 FY25, delivering a growth of 47.73 per cent. The company's unexecuted order book stands at 3.48 GWp, to be executed over the next 1215 months, while its bidding pipeline remains robust at 27+ GWp, it stated. The board on Friday approved capex budget for setting up 28 MWp IPP solar power plants (14 MWp each) at two locations in Maharashtra. The board also approved capex budg
A US investigation into potential solar tariff evasion will not impact Waaree Energies' investment plans, including the expansion of its Texas facility and exploration of setting up a solar cell manufacturing capability in the high-growth, strategic US market, the company said Sunday. Waaree is one of the largest vertically integrated companies in the manufacturing of solar modules, which convert sun rays into electricity. It has an operational capacity of 13.3 GW in India. It commenced operations at its US solar module manufacturing plant in Houston, Texas, in January this year with an initial installed capacity of 1.6 GW. The Texas facility is being scaled to 3.2GW by FY27. US customs officials last week launched an investigation into whether Waaree bypassed tariffs on Chinese-made solar cells and panels by falsely labelling them as manufactured in India. "The investigation has no impact on our investment plans. The Texas plant expansion from 1.6 GW to 3.2 GW is already underway,