Waaree Energies share price rises 2% as unit executes $30 million share subscription agreement with United Solar Holdings

The stock was up 2% to ₹2,710 apiece on the National Stock Exchange (NSE) at 9:21 am. Its market capitalisation stands at ₹77,950.69 crore.

In an exchange filing on March 10, the company said that its wholly-owned unit Waaree Solar Americas Inc has entered into a share subscription agreement with United Solar Holdings for the subscription of 53,68,551 series B preferred shares for $30 million.

"The transaction is not a related party transaction. None of the company’s promoter / promoter group / other group companies have any interest in the above transaction," Waaree Energies said.

Last month, the company had secured a Letter of Award from Solar Energy Corporation of India to develop a 300 MW wind power project in Dwarka, Gujarat.

Before this, it had received an order for a supply of 500MW solar modules from a renowned domestic customer, who is a solar power developer and involved in the business of an independent power producer.

Waaree Energies Q3 results

Waaree Energies had posted a 118.35% increase in its consolidated profit after tax to ₹1,106.79 crore in the quarter ended December 2025. The company had reported a net profit of ₹506.88 crore in the year-ago quarter.

The revenue from operations increased 118.81% to ₹7,565.05 crore in Q3 FY26, compared to ₹3,457.29 crore in the corresponding period of the previous fiscal year.

Its operating profit or earnings before interest, taxes, depreciation, and amortisation (EBITDA) rose 167.16% to ₹1,928.15 crore in the reporting quarter as against ₹721.73 crore in the same period a year back.

In the December quarter of the current fiscal year, the company achieved 3.51 GW module production and 0.75 GW cell production.

"We have secured a record order inflow, strengthening our order book of ₹60,000 crore ensuring sustained visibility for the years ahead, also we have secured bankable PPAs backed by land and connectivity," Amit Paithankar, Whole Time Director and CEO, Waaree Energies, said.