Shares of Gujarat Gas Ltd fell 1.5% after touching a day’s high of Rs 452.35 on 1st August. This occurred despite the company announcing yesterday that it had signed a gas sales agreement with Waaree Energy. The agreement will supply 50,000 scmd of piped natural gas (PNG) for its upcoming lithium-ion cell manufacturing unit in Valsad, Gujarat. Meanwhile, Waaree Energies traded up 2%.

The plant is expected to commence operations in Q4 FY25-26. This marks a significant step toward achieving sustainable energy and lower carbon emissions.

India currently imports most of its lithium-ion batteries, but CareEdge projects this dependence will drop to 20% by FY26-27.

Lithium-ion cells are crucial for electric vehicles, portable electronics, and battery energy storage systems (BESS). These support grid stability and facilitate the use of renewable energy.

The Gujarat Gas–Waaree partnership is set to strengthen India’s clean energy ecosystem. Waaree Energies, India’s largest solar PV module maker (with a 13.3 GW capacity, according to CRISIL), is expanding into lithium-ion battery, hydrogen cell, and solar wafer production.

Gujarat Gas (GGL) is India’s leading city gas distributor. It supplies fuel to over 22.67 lakh households, 4,000+ industries, and runs 828+ CNG stations in seven regions.

Waaree Energies posted a strong Q1, with net profit up 20.3% QoQ to Rs 745 crore. EBITDA surged 73.4% to Rs 997 crore, boosting its margin to 22.5%, while revenue rose 10.5% to Rs 4,425 crore.

At 11:51 AM, Gujarat Gas was down 1.80% at Rs 432.55 & Waaree Energies were up 2.21% at Rs 3,058.60 on NSE.

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