Why Waaree Energies Share Price is Rising

Indian markets are trading slightly higher on 29 August. The BSE Sensex is up by around 200 points, a 0.26% gain, and the NSE Nifty 50 is up about 65 points or 0.27%, hovering near 24,570 levels.

Sectors like FMCG, consumer durables, banks, and capital goods are showing positive momentum, while the IT sector is slightly down.

Overall, the market is witnessing a moderate uptrend with value buying in heavyweight stocks.

Waaree Energies is one stock that has been rallying for the last few days.

Let's tell you why.

2 Reasons Why Waaree Energies Share Price is Rising

#1 Fresh Order

Waaree Energies has secured yet another order. The latest is a 452 MW solar module supply contract secured by its wholly owned US subsidiary, Waaree Solar Americas.

The order comes from a US developer and operator of utility-scale solar and energy storage projects. It's a one-time contract to be executed over the financial years 2025-26 and 2026-27.

The fresh order led to buying in the stock of Waaree Energies.

While the exact value of the order is not known, it could have a meaningful impact on the revenues of the company going forward.

#2 Impact of US Tariffs Partially Mitigated

Investors increasingly believe that the US tariffs imposed recently, will have lesser impact on Waaree Energies.

The company is less vulnerable to these tariffs because it has established local manufacturing facilities in the US. The company operates a 1.6 GW solar module manufacturing plant in Texas, which it plans to expand to 3.2 GW by the end of 2025.

Producing locally helps Waaree Energies avoid the full impact of anti-dumping duties and tariffs and lets it benefit from US government incentives such as tax credits under the Inflation Reduction Act.

What Next?

Waaree Energies reported strong Q1 FY26 financial results with total revenue of Rs 45.97 bn, reflecting a 31.48% year-over-year (YoY) growth compared to Rs 34.96 bn in Q1 FY25.

The company's earnings before interest, taxes, depreciation, and amortisation (EBITDA) surged 82.61% YoY to Rs 11.68 bn, with an EBITDA margin of 25.42%. Profit after tax nearly doubled, rising 92.68% YoY to Rs 7.72 bn.

Waaree Energies has strong future growth prospects driven by both horizontal and vertical expansion strategies in the renewable energy sector.

The company has rapidly scaled its solar photovoltaic (PV) module manufacturing capacity from 2 GW in FY21 to 15 GW in FY24, with plans to add another 4.8 GW by FY27.

This includes expanding its US manufacturing facility in Texas to 3.2 GW by FY26 and adding a battery energy storage systems plant by 2028.

However, there have been challenges including US tariffs and anti-dumping duty investigation. The US Department of Commerce has initiated antidumping duty and countervailing duty investigations of crystalline silicon photovoltaic cells, whether or not there are assembled into modules (solar cells) from India and Indonesia.

The preliminary findings of the investigation are slated to be published early next month. Any adverse result could have a bearing on the company.

How Shares of Waaree Energies have Performed Recently

Over the last one month, the share price of Waaree Energies has gained close to 7% from levels of Rs 3,173 to the current levels of Rs 3,402.

In the past 10-months (shares got listed in October 2024), shares of the company have gained 43%.

Since listing, the stock hit a 52-week high of Rs 3,740.75 on 6 November 2024. The stock also hit a 52-week low of Rs 1,808.65 on 7 April 2025.

About Waaree Energies

Waaree Energie is India's largest manufacturer and exporter of solar photovoltaic (PV) modules. The company operates multiple state-of-the-art manufacturing facilities. It has a significant presence in India with over 380 locations and exports to more than 25 countries worldwide.

The company offers a wide range of renewable energy solutions including solar panel manufacturing, engineering, procurement, and construction (EPC) services, project development, rooftop solar systems, solar water pumps, and independent power production.

To know more, check Waaree Energies fact sheet and latest quarterly results. You can also compare Waaree Energies with its peers on our website.

To know what's moving the Indian stock markets today, check out the most recent share market updates here.

Investors should evaluate the company's fundamentals, corporate governance, and valuations of the stock as key factors when conducting due diligence before making investment decisions.

Disclaimer: This article is for information purposes only. It is not a stock recommendation and should not be treated as such. Learn more about our recommendation services here...