One dominant name in India’s solar power sector, Waaree Energies, is now making headlines with shining financial performance and aggressive growth plans. The company, among other things in solar module manufacturing, has its stock soaring ever since a good Q4 FY25, amidst some market deterrents. Here, the article unwraps the latest updates on Waaree Energies in a friendly manner for anyone who wishes to understand what has been inculcating this renewable energy giant.
Waaree Energies News
Waaree Energies has been grabbing headlines with its impressive Q4 FY25 results, announced on 22 April 2025. The company reported a whopping ₹619 crore profit, a 158% jump year-on-year, driven by strong demand for solar modules. Revenue grew by 36% to ₹3,664 crore, beating market expectations. Posts on X have been buzzing with excitement, with some calling Waaree a “stealth leader” in India’s renewable energy boom, thanks to its massive ₹47,000 crore order book for 25 GW of solar modules. However, the stock faced a dip after the lock-in period for pre-IPO shareholders ended on 25 April 2025, freeing up 15 crore shares for trading.
Waaree Energies IPO
Waaree Energies went public with a blockbuster IPO in October 2024, raising ₹4,321 crores. The IPO included a fresh issue of 23.95 million shares and an offer for sale of another 23.95 million, priced at ₹1,503 per share. It was a massive hit, oversubscribed 76.34 times, reflecting huge investor confidence. The funds are being used to expand manufacturing capacity, particularly for solar cells and wafers, aligning with India’s renewable energy goals.
Waaree Energies Screener
For investors eyeing Waaree’s stock, here’s a quick snapshot of its financial health:
- Market Cap: ₹77,380 crores (as of 25 April 2025)
- P/E Ratio: 42x (based on estimated earnings)
- EBITDA Growth: 121% YoY in Q4 FY25
- Revenue Growth: 36% YoY in Q4 FY25
- Order Book: ₹47,000 crores for 25 GW
- Debt-to-Equity: 0.3 (low leverage)
The stock has been volatile, dropping 6% YTD and 28% from its 52-week high of ₹3,743, but its strong fundamentals keep it on investors’ radars.
Waaree Energies Owner
Founded by the Doshi family, Hitesh Chimanlal Doshi is the Chairman and Managing Director. Under his vision, Waaree has grown to become the largest manufacturer of solar PV modules in India. The Doshi family owns a large stake in the company, with Hitesh and his cousins charting the strategic direction towards innovation and expansion at a global level.
Waaree Energies company details
Headquartered in Mumbai, Waaree Energies was established in 1990 and is a giant in India’s renewable energy space. It is into the manufacture of solar photovoltaic (PV) modules with an installed capacity of 15 GW, expected to reach 20 GW by 2026. Key highlights include:
- Manufacturing: Fully integrated, from ingots to modules
- Global Reach: 57% of orders from international markets
- Certifications: BIS, IEC, and UL for quality assurance
- Recent Moves: Acquired Enel Green Power India for ₹792 crores in January 2025
Waaree is a key player in India’s National Solar Mission, competing with Adani Solar and Tata Power Solar.
Waaree Energies Stock
Waaree’s stock has been a rollercoaster since its listing. It debuted at ₹2,550 on BSE, a 69.66% premium over its IPO price, but hit a low of ₹2,207.35 in January 2025 amid concerns over US tariffs. It rallied 19% post-Q4 results but fell 8.7% on 25 April 2025 due to the lock-in expiry. Currently, it trades at ₹2,995.50, up 59% from its IPO price.
Waaree Energies Listing Date
The company’s shares were listed on 28 October 2024 on both BSE and NSE, opening at ₹2,550 and ₹2,500, respectively. The listing was a success, with a 70% gain on day one, though recent volatility has tempered some of that initial excitement.
Waaree Energies Share Price Target
Analysts have mixed views on Waaree’s stock. Here’s a summary:
| Brokerage | Recommendation | Target Price | Upside/Downside |
| Nuvama | Buy | ₹2,805 | +25% |
| Kotak | Reduce | ₹2,280 | -8% |
| Bernstein | Underperform | ₹1,902 | -20% |
Nuvama sees Waaree as a long-term winner, citing its 15 GW capacity and green hydrogen potential, while Bernstein warns of competition from giants like Adani. Despite short-term hurdles, Waaree’s focus on capacity expansion and India’s 280 GW solar target by 2030 make it a stock to watch.
FAQs
Is Waaree Energies a good buy?
Yes, Waaree Energies is a good buy suitable for long-term results.
What does Waaree Energy do?
It is a leading Indian company that manufactures solar PV modules and provides complete solar EPC (Engineering, Procurement, and Construction) solutions.
Who owns Waaree Energies?
Waaree Energies Limited is owned by Hitesh Chimanlal Doshi.
Why is Waaree’s energy share falling?
US stocks of Premier and Waaree Energies dropped on Thursday after US President Donald Trump‘s new tax bill sought to cut off funding for these businesses under the Biden Administration’s Inflation Reduction Act.
What is the future of Waaree Energy Share?
Its future outlook is complex and depends on various factors. While the company has demonstrated strong growth, particularly in revenue and earnings, it faces challenges in valuation and market sentiment. The stock has seen significant fluctuations, with analysts offering diverse recommendations, ranging from sell to buy.
