Waaree Energies informed the stock market on Thursday that it is in discussions with the Andhra Pradesh government and other state governments to set up a proposed greenfield battery manufacturing facility. There is a plan to invest more than Rs 8000 crore in this project. This clarification from the company comes after media reports which claimed that Andhra Pradesh has acquired the company’s battery gigafactory project with an investment of Rs 8175 crore.
The company, in response to a question from the stock exchange on February 19, 2026, clarified that at present there is no such information pending which is yet to be disclosed. The company also informed that its Board of Directors, in its meeting held on October 1, 2025, had approved a major expansion in the manufacturing capacity of Lithium-Ion Advanced Chemistry Storage Cells and Battery Energy Storage System (BESS). Under the proposal, there is a plan to increase the production capacity from 3.5 GWh to 20 GWh.
Additional capex of Rs 8000 crore approved
The Board has also approved additional capex of approximately Rs 8000 crore in its wholly owned subsidiary Vaari Energy Storage Solutions Pvt Ltd to implement the expansion plan. According to the company, information about this development was given to the stock exchanges only on October 1, 2025.
The company performed brilliantly in the quarter ending December. There has been an increase of 26 percent in the company’s profit, which stood at Rs 1,062 crore. Earlier, the company had registered a profit of Rs 842 crore in the quarter ending September. The company’s income increased by 24.7 percent to Rs 7656 crore. In the previous quarter, the company had registered an income of Rs 6,065 crore.
stock performance
The company’s shares closed at Rs 2,871 on Thursday with a decline of 3.12 per cent. In the last one year, the company’s shares have seen a rise of 29.31 percent. The company’s shares have seen a rise of 12.14 percent in the last one month.
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