Waaree Energies issues clarification on U.S. probe into solar import duty evasion

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Waaree Energies Ltd has responded to a newspaper report published on September 26, 2025, about a U.S. investigation into alleged duty evasion on solar imports. In a regulatory filing, the company said the disclosure was being made under Regulation 30(11) of SEBI’s Listing Obligations and Disclosure Requirements.

The company emphasised that the United States is a key market for its global expansion and highlighted its investments there. Its subsidiary, Waaree Solar Americas, operates a 1.6 GW module manufacturing facility in Texas, which is being expanded to 3.2 GW. It has also acquired assets from Meyer Burger, U.S., to further strengthen its American manufacturing footprint.

Waaree said it has cooperated with U.S. investigations in the past and will continue to do so. It underscored its commitment to “adhering to all applicable local laws and regulations” in every country where it operates, and confirmed that necessary disclosures will be made as required.

The company also clarified that recent movement in its share price was market-driven and that there is no Unpublished Price Sensitive Information (UPSI) pending disclosure to exchanges.

Shares of Waaree Energies were trading at Rs 3,212.00 on Friday, down 6.77 percent. The stock hit an intraday high of Rs 3,182.00, and a low of Rs 3,385.00 during the day. Over the past year, the stock has gained 37 percent, rising from Rs 1,863.00 to Rs 3,865.00. Waaree currently trades at a price-to-earnings multiple of 40.63.