Riding strong earnings momentum, Waaree Energies plans semiconductor entry and ₹100 billion fundraise to expand capabilities in power electronics and renewable energy value chains.
Waaree Energies has announced plans to enter the semiconductor segment as part of a broader restructuring exercise, alongside the approval of a fundraising programme of up to ₹100 billion to support expansion and diversification.
According to a regulatory filing, the company will establish its semiconductor presence through an internal reorganisation involving its subsidiaries. Waaree Power Private Limited, a wholly owned subsidiary, will acquire full ownership of Waaree Semicon Private Limited from the promoter group entity, Waaree Sustainable Finance Private Limited.
The transaction, valued at ₹100,000 in cash, is expected to be completed in FY2026–27.
According to a report by the Hindu Businessline, although Waaree Semicon is currently non-operational, it intends to develop capabilities in power semiconductor products such as photovoltaic diodes, insulated-gate bipolar transistors (IGBTs), and metal-oxide-semiconductor field-effect transistors (MOSFETs).
These components are widely used in renewable energy systems and power electronics. The company’s initial focus will be on establishing outsourced semiconductor assembly and test (OSAT) operations, including module-level integration for applications in inverters, energy storage systems and electric vehicles.
Separately, the board has cleared a proposal to raise up to ₹100 billion in one or more tranches through instruments such as qualified institutional placements, equity shares, non-convertible debentures, or other convertible securities. The company has also recommended a final dividend of ₹2 per equity share for FY2025–26, subject to shareholder approval.
The strategic shift comes against the backdrop of strong financial performance. For the fourth quarter of FY2026, Waaree reported a 71 per cent year-on-year increase in consolidated net profit to ₹10.61 billion, while revenue rose 112 per cent to ₹84.8 billion. Growth was led by its solar photovoltaic modules and engineering, procurement and construction (EPC) segments.
For the full financial year, net profit nearly doubled to ₹37.11 billion, with revenue increasing 84 per cent to ₹265.37 billion, reflecting sustained demand across its core business lines.
