- By Shreyansh Mangla
- Thu, 11 Sep 2025 07:04 PM (IST)
- Source:JND
Waaree Energies Share Price: Waaree Energies' share price increased by 99 per cent from its low in April 2025 and is very close to its all-time high. The share price touched Rs 3,597.65, its highest point in almost 11 months, and it has been rising for three consecutive days. The share price has nearly doubled from its low of Rs 1,808.65 in April 2025.
Waaree Energies is India's largest solar panel manufacturer, and its shares have been trading on the stock market since October 2024.
In Q1 of FY26, the company produced a record 2.3 GW of solar modules, showcasing its robust assembly line. The company generated revenue of Rs 4,597.18 crore this quarter, which is an increase of 31.5 per cent from the same quarter last year.
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The company's tax expense was nearly Rs 400 crore this quarter. Its EBITDA rose by 82.6 per cent to Rs 1,168.67 crore, and profit after tax doubled to Rs 772.89 crore.
Waaree has a very large order book that includes international orders for manufacturing solar panels, with total sales amounting to Rs 49,000 crore.
The company believes in its long-term growth prospects, expecting that the demand for solar panels will remain strong for many years to come, both in India and the US. It views this as a long-term growth opportunity.
The global solar energy market is expected to grow by 23 per cent annually, and the Indian solar market by about 16 per cent annually until 2029.
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This growth is supported by government policies, new technologies, and lower costs, which create many opportunities for Waaree to expand. Government schemes in India support solar power for both large-scale solar farms and residential rooftop solar, as demonstrated by the PM Surya Ghar Muft Bijli Yojana.
Import taxes and local manufacturing make Waaree more competitive, especially with growing exports to the US and Europe. Seeing strong potential in the stock, the financial services group Nomura recently recommended buying Waaree shares with a target price of Rs 3,710, citing predictions of strong future demand in India’s solar industry.
Nomura expects that by 2030, India's solar capacity will nearly triple, creating more business for companies such as Waaree.
Overall, Waaree's strong financial results, large order book, and growing market position explain why its stock has climbed nearly 99 per cent from its April low and why the company is doing well.