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"We hereby inform that today certain officials of the Income Tax Department visited some of the Company’s offices and its facilities in India for conducting an investigation under the Income Tax Act, 1961," according to a stock exchange filing.
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The company said the proceedings are currently underway, and it is extending full co-operation to the officials involved.
Second Quarter Results
Waaree Energies reported a 130% year-on-year (YoY) jump in net profit at ₹871 crore for the second quarter that ended September 30, 2025. In the corresponding quarter of the previous fiscal, Waaree Energies posted a net profit of ₹375.66 crore. The company’s PAT margin stood at 14.10% for the quarter.
The company's total income rose 69.96% year-on-year to ₹6,226.54 crore compared to ₹3,663.47 crore in Q2
FY25. EBITDA surged 155.29% YoY to ₹1,567.30 crore, with margins improving to 25.17% from 16.76%.
Production during Q2 FY26 reached 2.64 GW, supported by robust operations. For the first half of FY26, total income stood at ₹10,823.72 crore, up 51.17% year-on-year, while EBITDA rose 118.19% to ₹2,735.97 crore.
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The company reported an order book of around 24 GW valued at approximately ₹47,000 crore. The board of directors approved an interim dividend of ₹2 per share on October 16, 2025. During the quarter, Waaree commissioned an additional 3 GW solar module manufacturing facility at Chikhli, Gujarat.
Shares of Waaree Energies Ltd ended at ₹3,283.15, down by ₹19.45, or 0.59%, on the BSE.
