Waaree Energies shares fall 6% after Income Tax department visits its offices and facilities
Published on 19/11/2025 09:15 AM
Waaree Energies shares fall 6% after Income Tax department visits its offices and facilitiesThe company said the proceedings are currently underway, and it is extending full co-operation to the officials involved. Shares of Waaree Energies Ltd ended at ₹3,283.15, down by ₹19.45, or 0.59%, on the BSE.By Jomy Jos Pullokaran November 19, 2025, 9:15:11 AM IST (Updated)2 Min ReadShares of Solar energy solutions provider Waaree Energies Ltd. fell up to 6% in early trading on Wednesday, November 19, after the company informed the exchanges that officials from the Income Tax Department visited some of the company’s offices and facilities in India to conduct an investigation under the Income Tax Act, 1961.
The announcement was made after market hours on Tuesday.
"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.
Waaree Energies In Q2
Waaree Energies reported a 130% year-on-year (YoY) jump in its net profit to ₹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 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. are trading 5.6% lower in early trading on Wednesday at ₹3,089.
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