Waaree Energies share price tanks 5% after I-T department conducts investigation. Do you own?

Waaree Energies share price: Shares of renewable energy firm Waaree Energies fell over 5% to ₹3,089 on Wednesday after the company said that some officials from the Income Tax (I-T) Department visited their offices and facilities to undertake an investigation.

In an exchange filing on Tuesday, Waaree Energies said, “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 investigation under the Income Tax Act, 1961. The proceedings are underway and the Company is extending its full co-operation to the officials. The company further informed that the proceedings are ongoing and that it is fully cooperating with the authorities involved."

As per media reports, the Income Tax department’s probe involved nearly 25 teams from Mumbai, Chikhli, and Vapi, beginning at the company’s 5.4 GW solar cell gigafactory in Chikhli.

The solar energy solutions provider's stock has been under pressure in the near term. Waaree Energies share price has fallen nearly 2% in the past five trading sessions and over 6% in a month. However, the solar energy stock has given 12% returns in six months and 13.34% returns in a year.

Waaree Energies Q2 results 2025

The decline in stock comes despite Waaree Energies posting a strong performance in Q2, with net profit soaring 130% year-on-year to ₹871 crore, compared to ₹375.66 crore in the same period last year. The company’s PAT margin for the quarter came in at 14.10%.

Total income grew 69.96% YoY to ₹6,226.54 crore, up from ₹3,663.47 crore in Q2 FY25. EBITDA jumped 155.29% YoY to ₹1,567.30 crore, with margins strengthening to 25.17% versus 16.76% a year ago.

The company produced 2.64 GW during the quarter, reflecting strong operational momentum. For H1 FY26, total income increased 51.17% to ₹10,823.72 crore, while EBITDA rose 118.19% to ₹2,735.97 crore.

The company announced an order book of nearly 24 GW, worth about ₹47,000 crore. On October 16, 2025, the board also approved an interim dividend of ₹2 per share.

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