Waaree Energies Limited Overview
Pro stress-test →Waaree Energies Limited is an Indian manufacturer of solar PV modules with an aggregate installed capacity of 12 GW, incorporated in December 1990. The company is India's largest manufacturer and exporter of solar modules, holding 21% share of the domestic market and 44% share in India's solar module exports as of FY24.
Strategic Profile
Pro stress-test →Waaree operates through three segments: Solar Photovoltaic Module Manufacturing, EPC and O&M Solutions, and Independent Power Producer, offering HJT, TOPCon, mono PERC modules plus engineering, procurement, construction, and renewable energy generation services. The company mitigates US tariffs by sourcing solar cells from Southeast Asia and assembling panels in the US, maintaining strong export capabilities.
Competitive Landscape
Pro stress-test →Waaree and Premier Energies lead India's solar growth backed by strong order books of ₹60,000 Cr and ₹13,724 Cr respectively. Waaree focuses on scale and integration, while Premier excels in efficiency metrics. The company faces competition from regional manufacturers and import substitution pressures under ALMM regulations.
Industry Context
Waaree Energies Limited operates in Renewable Energy Equipment Manufacturing (Solar PV Modules).
Key facts
Founded: 1990 · Headquarters: Mumbai, India · Revenue: ₹75.65 B (Q3 FY26) · Market cap: ₹89,000 Cr (~$10.7B USD)