Waaree Energies Share Price Today Drops Amid IT Department Investigation

Shares of Waaree Energies came under pressure on Wednesday as the company's offices and facilities were visited by officials from the Income Tax (I-T) Department. The stock fell over 5% to ₹3,089, drawing attention from investors and market watchers alike.

Market Performance

• Share price movement: Fell over 5% to ₹3,089 on Wednesday
• Recent trend: Down nearly 2% in the past five trading sessions and over 6% in the last month
• Long-term performance: The stock has delivered 12% returns in six months and 13.34% in the past year

Despite the near-term pressure, the Indian stock market has seen Waaree Energies shares maintain a strong track record over the medium term.

Main News: I-T Department Investigation

In an official filing, Waaree Energies confirmed that certain officials from the Income Tax Department visited its offices and facilities across India to conduct an ongoing investigation under the Income Tax Act, 1961.

• The company stated that it is fully cooperating with the authorities.
• The visits involved multiple teams from Mumbai, Chikhli, and Vapi.
• The probe began at the company’s 5.4 GW solar cell gigafactory in Chikhli.

This development drew immediate market attention, leading to a short-term dip in share prices.

Waaree Energies Q2 Results FY26

The stock movement comes despite a strong quarterly performance in Q2 FY26:

• Net profit: ₹871 crore, up 130% YoY from ₹375.66 crore
• PAT margin: 14.10%
• Total income: ₹6,226.54 crore, up 69.96% YoY from ₹3,663.47 crore
• EBITDA: ₹1,567.30 crore, a 155.29% YoY jump
• EBITDA margin: 25.17% vs 16.76% last year
• Production: 2.64 GW during the quarter

For H1 FY26, the company reported:

• Total income: ₹10,823.72 crore, up 51.17%
• EBITDA: ₹2,735.97 crore, up 118.19%

Additionally, Waaree Energies announced an interim dividend of ₹2 per share on October 16, 2025, reflecting its consistent operational and financial momentum.

Company Highlights

• Order book: Nearly 24 GW, worth around ₹47,000 crore
• Sector: Renewable energy, primarily solar solutions
• Operational footprint: Multiple facilities across India, including major gigafactories

Despite the temporary share price dip due to the I-T department investigation, Waaree Energies continues to show strong fundamentals and steady growth in the solar energy sector.