Market forecast: Waaree Energies stock price rose by 2.05%, analysts predict there is still a 30% rise potential in the coming year.

The stock price of Waaree Energies has shown a pump trend in recent trading. As India’s largest solar PV module manufacturer, Waaree Energies has attracted widespread follow from investors due to its continuous capacity expansion, strong order performance, and favorable global market environment.

Stock Price Performance and Market Reaction

As of the latest trading data on August 26, 2025, Waaree Energies' stock price has shown positive momentum. Looking back at its stock price history, the company went public on the Bombay Stock Exchange on October 28, 2024, and surged by 55.62% on its first day of trading, closing at 2338.90 rupees, with a market capitalization nearing 8 billion dollars at that time.

Despite a 2.39% drop in stock price to ₹3,112.50 during the early trading on August 25, it quickly rebounded, demonstrating strong market confidence and buying support for the stock.

Financial performance continues to rise

The stock price performance of Waaree Energies is supported by its strong financial results. From the consolidated annual data, the company's revenue and profit have achieved leapfrog growth.

The company's revenue surged from 28.54 billion rupees in 2022 to 144.445 billion rupees in 2025. During the same period, net profit increased from 796.5 million rupees to 19.2813 billion rupees, an astonishing growth.

From the quarterly data, the growth trend is also clear. In the June quarter of 2025, the company's revenue reached 44.2583 billion rupees, net profit was 7.7289 billion rupees, and EPS was 25.94, while the revenue in the same period last year was 34.089 billion rupees, net profit was 4.0113 billion rupees, and EPS was 14.98.

Capacity Expansion and Project Progress

Waaree Energies has been continuously expanding its production capacity in recent years. In January 2025, the company began trial production at its 5.4 GW photovoltaic cell manufacturing plant built in Gujarat, India, which is the largest battery manufacturing plant in India to date.

In August 2025, Waaree announced that its 1.8 GW solar module manufacturing plant located in Chikhli, Gujarat has officially commenced production, which increases the company's total annual production capacity of photovoltaic modules to 16.8 GW.

The company has also set long-term goals: by the end of the 2027 fiscal year, it plans to increase the annual production capacity of solar modules to 25.7 GW, increase the annual production capacity of solar cells to 15.4 GW, and achieve an annual production capacity of 10 GW for silicon ingots and wafers.

In the US market, Waaree is also actively expanding. The company plans to increase the production capacity of its factory in Brook County, Texas from 1.6 GW to 3.2 GW to meet the growing demand in the US market.

Sufficient orders support future growth

As of March 2025, Waaree Energies' order volume has reached approximately 25 GW, valued at around 47 billion rupees.

The demand for these orders mainly comes from large utility-scale developers and the commercial and industrial sectors, with 43% coming from the domestic market in India and 57% from overseas markets.

In June 2025, the company's U.S. subsidiary Waaree Solar Americas announced a supply agreement for 599 megawatts of photovoltaic modules with an independent power producer in the United States. These modules will be produced at Waaree's manufacturing facility in Texas, with delivery planned for 2026.

Analyst Predictions and Investment Value

Based on Waaree Energies' strong business performance and growth prospects, market analysts are optimistic about its future stock price trends. According to analyst forecasts compiled by the Trendlyne platform, the average target price given by 5 analysts covering Waaree Energies is ₹2986.

Analysts expect the company's revenue growth rate for the fiscal year 2026 to be 52.4%, with a profit growth rate as high as 88.4%. This indicates that professional institutions are confident in the company's profitability and growth potential.

Waaree Energies is well positioned in the global renewable energy transition. India has set a goal of producing 500 GW of renewable energy by 2030, which provides a huge market opportunity for local manufacturers like Waaree.

Risk Factors and Investment Recommendations

Despite the optimistic outlook, investors still need to be aware of some risk factors. The competition in the photovoltaic industry is becoming increasingly fierce, and changes in trade policies may affect the global supply chain. In addition, the company's rapid expansion may bring management challenges.

However, most analysts believe that Waaree Energies, with its market leadership position, expanding production capacity, and advanced technological capabilities, is expected to overcome these challenges.

For long-term investors, Waaree Energies represents an important investment opportunity in India's renewable energy sector, particularly suitable for those who are optimistic about the global energy transition trend.

Future Outlook

With the continuous growth of global demand for renewable energy and the Indian government's goal of producing 500GW of renewable energy by 2030, Waaree Energies is expected to continue benefiting in the coming years due to its market position, capacity layout, and technological accumulation.

The average target price given by analysts suggests that the stock still has growth potential. For investors optimistic about the future of renewable energy, Waaree Energies is undoubtedly an investment target worth following.