Waaree Energies Ltd

Capacity expansion at Waaree Power

• Waaree Power Private Limited, a wholly owned subsidiary, commenced commercial production of a new solar inverter line.
• New line has 1.10 GW annual installed capacity at Sarodhi, Valsad, Gujarat.
• Aggregate annual inverter capacity of Waaree Power Private Limited increases from 3.05 GW to 4.15 GW.

Waaree Energies Ltd: Trading window will remain closed from Oct 01, 2026 till 48 hours after the declaration of the Unaudited Financial Results of the Company for the quarter and half year ended September 30, 2026.

AGM details

• AGM held on 24-09-2026 at 11:00 A.M. via Video Conferencing.
• Record date: 17-09-2026.
• End time: 12:15 A.M. (as per filing).
• Shareholders on record: 785,272; attendees via VC: 80.

Key resolutions

• Ordinary: Adopt standalone financial statements for year ended 31 March 2026.
• Ordinary: Adopt consolidated financial statements for year ended 31 March 2026.
• Ordinary: Declare dividend on equity shares for year ended 31 March 2026.
• Ordinary: Re-appoint a director by rotation.
• Ordinary: Ratify remuneration of Cost Auditors for FY 2026-27.
• Special: Appoint Mona Bhidhe as Independent Director.

Voting outcomes

• Resolution 1 passed with 99.7075% in favour.
• Resolution 2 passed with 99.6083% in favour.
• Resolution 3 passed with 99.9996% in favour.
• Resolution 4 passed with 92.8189% in favour.
• Resolution 5 passed with 100% in favour.
• Resolution 6 passed with 87.8842% in favour.

Dividend

• Dividend declared on equity shares for year ended 31 March 2026.

Director changes

• Independent Director Mona Bhidhe appointed.
• Director by rotation (Viren C. Doshi) re-appointment.

Auditors and remuneration

• Cost Auditors remuneration for FY 2026-27 ratified.

AGM Details

• AGM held on Sept 24, 2026 at 11:00 A.M. IST via VC/OAVM.
• Concluded at 12:15 P.M. IST.
• Notice dated Aug 29, 2026; e-voting facility provided.
• All items transacted with requisite majority.

Key Resolutions

• Adoption of standalone financial statements for FY ended Mar 31, 2026 — Ordinary — passed.
• Adoption of consolidated financial statements for FY ended Mar 31, 2026 — Ordinary — passed.
• To declare dividend on equity shares for FY ended Mar 31, 2026 — Ordinary — passed.
• To appoint a director by rotation: Viren Chimanlal Doshi re-appointment — Ordinary — passed.
• Ratification of Cost Auditors' remuneration for FY 2026-27 — Ordinary — passed.
• Appointment of Mona Bhide as Independent Director — Special — passed.

Auditors & Governance

• Statutory auditors SRBC & Co. LLP attended; no change disclosed.
• Cost auditors remuneration for FY 2026-27 ratified.

Market entry and plant development

• WCES enters India's specialty gases market as a one-stop supplier for semiconductors and solar manufacturers.
• Plans a specialty gases plant at GIDC Saykha, Dahej, Gujarat to serve domestic demand.
• Aims to supply fabs, OSAT/ATMP units, and solar lines from day one.

Product scope and capabilities

• UHP portfolio includes Silane, Ammonia, Nitrous Oxide, Phosphine mixes, Boron Trichloride, and other gases.
• Will design custom gas/chemical systems and nitrogen plants with a Total Gas & Chemical Management System.
• Backed by pan-India supply for all offerings.
• Government incentives to grow semiconductor and solar capacity, expanding the gases business.

Strategic context

• Government incentives under Semicon India 2.0 support expanded chip and solar capacity, boosting demand for high-purity gases.

Board approval

• Board approves the draft Scheme of Amalgamation under Sections 230-232, Companies Act, 2013.

Approvals required

• Scheme subject to approvals from BSE, NSE, NCLT, and shareholders and creditors.

Share exchange terms

• Share exchange: 1 Waaree share for 11 Indosolar shares; Emkay fairness opinion.

Related-party and compliance

• Related-party transaction; arm's-length basis per MCA Circular No. 30/2014.

Structural outcome

• Transferor Indosolar to be dissolved without winding up; Waaree as transferee.

Board date

• Board meeting held on 23 September 2026; details to be filed with exchanges.

Post-scheme ownership

• Post-scheme ownership and consolidation to be reflected in exchange filings.

Meeting Details

• Date and time: September 28, 2026 at 10:00 a.m.
• Mode: virtual; Meeting type: group/one-on-one with analysts

Participants

• No specific company management names disclosed.

Purpose

• Interacting with analysts/investors; discussions based on publicly available information

Additional Notes

• Latest investor presentation available on Waaree Energies Ltd website

Order details

• Awarding entity: Renowned customer, a leading solar developer.
• Nature and scope: Supply of solar modules.
• Order size: 2 GW solar modules.
• Origin: Domestic entity.
• Timeline: Supply in FY2026-27 and FY2027-28.
• Contract type: One-time supply order.
• Promoter/related party: No promoter interest; no related-party transactions.

Meeting Details

• Date and time: Monday, September 21, 2026, 09:00–14:00.
• Location: Mumbai.
• Event/organiser: Anand Rathi Annual Flagship Conference, G-200 Summit 2026.
• Meeting mode & type: In-person; Group/One-on-One.

Participants

• Waaree Energies management representatives to participate.

Purpose

• Purpose: investor interactions; discussions based on public information.

Additional Notes

• Latest investor presentation available on Waaree Energies website.