Why Waaree Energies Share Price is Falling

As the world looks for cleaner, more sustainable energy solutions, solar energy firms have emerged as a key players in this transformation.

With governments worldwide coming out with supportive policies and technological advancements driving down costs, clean energy sources like solar and wind are no longer just a part of environmental debate but also a significant economic opportunity.

However, despite this global push, the sector is currently facing a slowdown, with Waaree Energies standing out as one of the most declining stocks in the market.

Waaree Energies Limited (WEL) is India's largest manufacturer and exporter of solar photovoltaic (PV) modules.

Its share price drew attention as it declined 6.5% today, raising concerns among investors.

What's dragging it down?

Let's dig deeper into this.

Solar Tariff Probe

Shares of Waaree Energies decline after as an investigation is underway into whether Waaree Energies avoided paying US-tariffs by mislabelling Chinese-made solar cells and panels as Indian products.

The investigation was triggered by concerns raised by American solar manufacturers earlier this year.

US authorities suspect Waaree Energies did not properly declare imports, potentially evading duties meant to protect the US markets from unfair foreign pricing.

As a precaution, the company is now being asked to make cash deposits while the investigation continues.

US solar imports from India have increased significantly over the past two years, particularly after the US imposed tariffs on solar products from Southeast Asian countries, making Indian solar products more competitive.

Tariffs on Chinese products have been in place for over ten years.

What Next?

Going forward, Waaree Energies has announced that it has invested Rs 3 billion (bn) through a rights share issue in Waaree Energy Storage Solutions Pvt Ltd (WESSPL), its wholly owned subsidiary.

This fund will be used to establish a manufacturing facility for lithium-ion advanced chemistry storage cells.

The company has an upcoming 1.6 GW module manufacturing facility in the US. It's planning to expand this capacity to 3 GW by FY26 and is aiming to reach 5 GW by FY27.

It's also establishing a 300 MW electrolyser plant by 2027. The company has a projected capacity of 6 GW for ingot-wafer capacity, an additional 4.8 GW for solar cells, and 21 GW for solar modules.

Waaree Energies has strong growth prospects driven by both horizontal and vertical expansion.

How Waaree Energies' Share Price Has Performed Recently

In the past five trading sessions, Waaree Energies' shares have declined 9%.

Since listing on 28 October 2024 at Rs 2,550, the share price is up 25.7%.

The stock touched its 52-week high of Rs 3,864.4 on 12 September 2025 and a 52-week low of Rs 1,808.65 on 7 April 2025.

About Waaree Energies

Waaree Energies 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.

Waaree Energies vs Inox Wind

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.

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