Waaree Energies, Premier shares in focus after US sets initial Indian solar import duty at 126%
Published on 25/02/2026 06:39 AM
Waaree Energies, Premier shares in focus after US sets initial Indian solar import duty at 126%Waaree Energies has capacities in the US market. During the December quarter earnings call, the management had said that the US is an important market for the company, and they are not only manufacturing there, but also doubling down on their investments.By Hormaz Fatakia February 25, 2026, 6:39:28 AM IST (Published)2 Min ReadShares of Waaree Energies Ltd., Premier Energies Ltd., and peers will be in focus on Wednesday, February 25, after the Trump administration set preliminary duties of 126% on solar imports from India, according to documents seen by CNBC-TV18.
Initial duties have also been set between 86% to 143% for imports from Indonesia and at 81% for imports from Laos. According to the US Commerce Department, the rates have been determined based on foreign subsidies that allowed exporters to undercut domestic solar producers.
These duties will be different from the reciprocal tariffs imposed by the Trump administration that were struck down by the US Supreme Court last week. In response, Trump first issued a 10% universal tariff declaration before raising it to 15% over the weekend. The 10% tariff took effect from last night local time.
According to the US Commerce Department, the solar imports from India in 2024 were worth $792.6 million, over 9 times the value in 2022.
The relatively high duty rates will make the US market largely unavailable for Indian solar panel manufactures, Citi analyst Vikram Bagri wrote in an research note Tuesday.
Waaree Energies has capacities in the US market. During the December quarter earnings call, the management had said that the US is an important market for the company, and they are not only manufacturing there, but also doubling down on their investments. The company recently acquired Meyer Burger and is also on the lookout for organic and inorganic growth opportunities.
At the end of the third quarter, Waaree Energies' order book stood at ₹60,000 crore. The company also stated that it is confident of surpassing its original Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) guidance of ₹5,500 crore to ₹6,000 crore for financial year 2026.
32.6% of Waaree Energies' revenue in the December quarter came from the overseas market.
While Premier Energies does not have any significant exposure to the US market, 20% of Vikram Solar's order book comes from exports.
Back in April last year, shares of both Premier and Waaree Energies had rallied after the US imposed anti-dumping duty on imports of solar equipment from four Southeast Asian countries, but had excluded India.
Shares of Waaree Energies ended 4.2% higher at ₹3,040 on Tuesday, while those of Premier Energies ended 0.6% higher at ₹780. Vikram Solar shares are down over 40% from their IPO price.Continue ReadingTagsPremier Energiesshare market todaySolar CellsWaaree Energies