Key facts
- Waaree Energies shareholders approved raising up to Rs 10,000 crore via Qualified Institutions Placement (QIP).
- The capital raise can be through equity shares, non-convertible debentures, warrants, or other convertible securities.
- Jignesh Devchandbhai Rathod was appointed as Whole-Time Director & CEO.
- The company produced 12.6GW of modules in FY26.
- Waaree Energies reported Rs 8,480.3 crore in revenue and Rs 1,126.30 crore in net profit for the March quarter.
- The company plans to invest approximately Rs 30,000 crore in clean-energy projects over the next two years.
Waaree Energies has secured shareholder approval to raise up to Rs 10,000 crore through a Qualified Institutions Placement (QIP). The company's board had previously approved this fundraising, which can be conducted through various instruments including equity shares, non-convertible debentures, and warrants. Shareholders also approved the appointment of Jignesh Devchandbhai Rathod as the new Whole-Time Director & CEO.
This capital raise comes as Waaree Energies outlines ambitious expansion plans, intending to invest nearly Rs 30,000 crore over the next two years across its clean-energy businesses. Key projects include a 10 GW ingot and wafer manufacturing facility in Nagpur and a 2,500 tonne-per-day solar PV glass manufacturing facility.
In the March quarter, Waaree Energies produced 4.2 GW of modules, contributing to a full-year production of 12.6 GW for FY26. The company reported a 71% surge in net profit for the quarter, with revenue reaching Rs 8,480.3 crore. However, its EBITDA margin for the quarter was 19%, which was below analyst expectations. Analysts are awaiting further clarity from the company's conference call regarding the margin performance, which may be linked to the transition to G12R cells.