Waaree Energies Board Approves Rs 3900 Crores Capex and Subsidiary Acquisition

Waaree Energies Limited has announced major expansion initiatives following its board meeting held on March 24, 2026. The company's board approved two significant strategic decisions involving substantial capital deployment and subsidiary acquisition to strengthen its manufacturing capabilities and market position. The decisions were communicated through official regulatory filings to BSE Limited and National Stock Exchange of India Limited under Regulation 30 of SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

Major Capital Expenditure Approval

The board has sanctioned a substantial capital expenditure of Rs 3900 crores for establishing a glass manufacturing plant. This facility will be set up in the company's wholly owned subsidiary, Waaree Green Glass Private Limited, with a production capacity of 2500 TPD (tonnes per day).

Parameter: Details Capex Amount: Rs 3900 crores Facility Type: Glass manufacturing plant Production Capacity: 2500 TPD Subsidiary: Waaree Green Glass Private Limited Funding Source: Mix of debt and internal accruals

Subsidiary Stake Enhancement

The company has approved the acquisition of additional equity stake in its subsidiary, Waaree Transpower Private Limited (formerly Kotsons Private Limited). This strategic move will increase Waaree Energies' shareholding from the current 64.04% to 75.10% of the paid-up equity share capital.

Acquisition Details: Information Current Shareholding: 64.04% Target Shareholding: 75.10% Shares to Acquire: 2.53 crore equity shares Price per Share: Rs 75.00 Face Value: Rs 10.00 per share Total Consideration: Rs 190.00 crores Expected Completion: June 2026 Transaction Type: Cash consideration

About Waaree Transpower Private Limited

Waaree Transpower Private Limited, incorporated on April 22, 1978, operates in the transformer manufacturing sector. The company specializes in designing, manufacturing, and supplying advanced transformer solutions across various categories including oil-filled transformers, dry type transformers, special purpose transformers, and renewable energy applications. The facility currently maintains a production capacity of 4,000 MVA.

Financial Performance Overview

The subsidiary's revenue performance over the last three years shows fluctuation:

Financial Year: Turnover 2022-23: Rs 16.45 crores 2023-24: Nil 2024-25: Rs 8.47 crores

Strategic Rationale and Regulatory Compliance

The additional acquisition in Waaree Transpower is positioned to enable capacity expansion and meet capital expenditure requirements. As a related party transaction conducted at arm's length pricing, this move aligns with the company's growth strategy in the transformer solutions segment. The acquisition will be funded through cash consideration, with the transaction classified as a related party deal given the existing subsidiary relationship.

Both decisions were approved in compliance with Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015. The board meeting commenced at 2:00 PM and concluded at 3:45 PM on March 24, 2026. The company has made all necessary regulatory disclosures and the information is also available on the company's website at www.waaree.com .

Waaree Energies Limited has announced an upcoming analyst and institutional investor meeting as part of its regular stakeholder engagement activities. The company filed the intimation with stock exchanges on March 23, 2026, in compliance with regulatory requirements.

Meeting Details and Schedule

The investor interaction session has been scheduled with specific parameters to ensure structured engagement with the financial community.

Parameter: Details Date & Time: Saturday, March 28, 2026; 4:00 PM to 6:30 PM Location: Chennai Meeting Mode: In Person Type of Meeting: Group/One on One

Regulatory Compliance and Information Disclosure

The company has emphasized its commitment to maintaining transparency while adhering to regulatory guidelines. All discussions during the investor meet will be based solely on publicly available information. Waaree Energies has specifically stated that no unpublished price sensitive information relating to the company will be disclosed during the interactions.

The company has also noted that changes to the schedule may occur due to exigencies on the part of the host or company. This provision allows for flexibility while maintaining professional standards for investor relations.

Investor Resources and Documentation

For participants and interested stakeholders, the latest investor presentation is available on the company's official website at www.waaree.com . This ensures that all attendees have access to current publicly available information prior to the meeting.

The intimation was signed by Rajesh Ghanshyam Gaur, Company Secretary and Compliance Officer, demonstrating proper corporate governance procedures in the announcement process.

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