On 30 September, Waaree Energies Ltd notified the stock exchanges that its wholly owned subsidiary, Waaree Power Private Limited, had commenced commercial production on a new solar inverter manufacturing line at its Sarodhi, Valsad, Gujarat factory. The line has an annual installed capacity of 1.10 GW, raising Waaree Power’s aggregate annual solar inverter manufacturing capacity from 3.05 GW to 4.15 GW. The announcement coincided with the company’s Q1 FY27 earnings report, which highlighted a 15.39% year‑on‑year rise in consolidated net profit to ₹891.87 crore, up from ₹772.89 crore in the same period a year earlier.

Revenue from operations surged to ₹7,931.79 crore in Q1 FY27, compared with ₹4,425.83 crore a year ago, reflecting higher sales across domestic and international markets. Jignesh Rathod, Whole Time Director & CEO, noted that the company delivered another quarter of strong operational and financial performance, citing the resilience of its integrated business model, disciplined execution and sustained demand. He added that the core solar manufacturing business remains robust while newer businesses are beginning to contribute meaningfully to revenue.

The company achieved module production of 3.24 GW in Q1 FY27, a 41.51% year‑on‑year increase, and added new orders worth ₹16,000 crore in the quarter, taking the total order book to approximately ₹61,500 crore. Established in 1990, Waaree Energies Ltd is India's leading renewable energy company, accelerating the global energy transition. The stock has gained nearly 3% over the past five trading sessions but has declined 4.25% over the past month, 26.64% over the past six months and more than 17% year‑to‑date.

Shares of Waaree Energies rose sharply in the final hour of trading on Tuesday, 13 October, gaining up to 5.07% to ₹2,464.00 on the NSE. The rally in Waaree Energies and other green energy stocks appears to be driven largely by a broader recovery in the equity market following the sharp sell‑off in recent sessions, with investors engaging in bargain‑hunting across sectors. At 03:10 PM, Adani Green Energy was up 0.68% to ₹1,282.60, Adani Energy Solutions 1% higher at ₹1,293.20, Premier Energies 0.15% to ₹910.20, Indosolar 5% to ₹207.27 and KPI Green Energy 1.25% at ₹327.50.

India’s solar power market is projected to expand significantly over 2025–2030, with its market value expected to increase by USD 1,413.3 billion at a compound annual growth rate of 49.5%, according to Technavio. Grid‑connected solar was valued at $143.6 billion in 2024, while the utility‑scale segment accounted for the largest share of market revenue. The report estimates potential market opportunities at USD 1,588.7 billion, with an additional $1,413.3 billion in market value projected over 2025–2030.

Despite the strong growth outlook, the sector faces challenges such as the need to upgrade grid infrastructure to accommodate intermittent solar power, land acquisition delays for large‑scale projects and the requirement for continued investment in transmission and storage infrastructure. These constraints, alongside the push to expand domestic solar manufacturing and reduce dependence on imported equipment, will be important to sustaining growth and meeting India’s renewable energy ambitions, the research firm notes.