Waaree Energies completes acquisition of 64% stake in Kotsons; here is how stock is performing

In early September 2025, the company had said its board had approved a proposal to acquire a 64% equity stake in Kotson's for a total consideration of ₹192 crore.

Kotson's Private Limited, established in 1978, is in the business of designing, manufacturing and supplying advanced transformer solutions, a regulatory filing stated.

Shares of the company, in the morning trade on Wednesday, October 8, were trading over 2% lower at ₹3,330 apiece on the NSE.

Meanwhile, in late September 2025, Waaree Energies said that a US investigation into potential solar tariff evasion will not impact the company's investment plans, including the expansion of its Texas facility and exploration of setting up a solar cell manufacturing capability in the high-growth, strategic US market.

Waaree is one of the largest vertically integrated companies in the manufacturing of solar modules, which convert sun rays into electricity. It has an operational capacity of 13.3 GW in India.

It commenced operations at its US solar module manufacturing plant in Houston, Texas, in January of this year, with an initial installed capacity of 1.6 GW. The Texas facility is being scaled to 3.2 GW by FY27.

US customs officials in September 2025 launched an investigation into whether Waaree bypassed tariffs on Chinese-made solar cells and panels by falsely labelling them as manufactured in India.

"The investigation has no impact on our investment plans. The Texas plant expansion from 1.6 GW to 3.2 GW is already underway," the firm said.

"Our recent acquisition of US-based Meyer Burger assets further strengthens its long-term manufacturing footprint in the country. The United States is a high-growth, strategic market for Waaree, and it continues to invest in local jobs, technology, and capacity."

"Waaree Energies will continue to operate with integrity, and we reaffirm our strong commitment to the US market – both as a clean energy partner and as a growing localised manufacturer," the firm said in a written Q&A to PTI.

The firm said it is providing all required information to the US Customs and Border Protection (CBP) in its ongoing inquiry.

"As a responsible corporate citizen, we have consistently complied with all applicable local laws and regulations," the company said.

"Our internal assessment indicates no material duty exposure, and we continue to engage transparently with CBP throughout this process."

Importantly, there has been no operational disruption, and the US manufacturing operations and customer deliveries continue as planned.

Waaree Energies Q1 FY26 Results

Waaree Energies posted a nearly 93% rise in its net profit to ₹773 crore in the June quarter (Q1 FY26) compared to the year-ago period, mainly on the back of higher revenues.

The company had reported a net profit of ₹401.13 crore in the same quarter a year ago, a statement said.

Total revenues rose to ₹4,597.18 crore in the quarter from ₹3,496.41 crore logged in the same period a year ago.

The company said it achieved the highest quarterly module production of 2.3 GW in the first quarter of FY26, driven by strong operational focus, and cell production continues to ramp up.

The Board of Directors also approved an additional capital expenditure (capex) of ₹2,754 crore for the expansion of cell capacity by 4 GW in Gujarat and ingot-wafer by 4 GW in Maharashtra.