Waaree Energies Limited claims to have secured the top position in India’s solar module market with a 17.3 per cent share of total shipments in the first quarter of 2025, according to JMK Research. The Mumbai-based company outperformed 24 major suppliers during a period when domestic manufacturers dominated with 89.9 per cent of total shipments.
The shares of Waaree Energies were trading at ₹2,808 up by ₹11.30 or 0.40 per cent on the NSE today at 1.30 pm.
India’s solar sector recorded significant growth in Q1 2025, adding 5.93 GW of utility-scale capacity and 1.34 GW of rooftop installations. The utility-scale additions represented a 12.2 per cent increase from the previous quarter, bringing India’s cumulative solar capacity to 105.6 GW by March 2025.
The company’s export shipments more than doubled compared to the previous quarter, strengthening its presence in over 25 countries. Waaree operates manufacturing facilities with approximately 15 GW installed capacity for solar PV modules globally, including operations in India and Texas.
Amit Paithankar, Whole-time Director and CEO of Waaree Energies, attributed the performance to the company’s focus on advancing solar technology and supporting India’s clean energy transition. The results reflect growing confidence in domestic manufacturing capabilities.
JMK Research projects India will add over 30 GW of new solar capacity in FY2026, supporting the nation’s target of 500 GW renewable energy by 2030. Established in 1990, Waaree also operates a 1.4 GW cell manufacturing facility with expansion capacity up to 5.4 GW.