Shares of Waaree Energies Ltd were trading in the green and 3% higher on 20 May after the company announced securing approval from the Board of Directors to acquire Kamath Transformers Pvt Ltd for a total consideration of Rs 293 crore.

The acquisition is part of Waaree Energies’ corporate expansion plans and will be completed during the current fiscal year. The company will acquire a 100% stake in Kamath Transformers for cash.

According to Waaree Energies, Kamath Transformers is a well-established and advanced transformer manufacturer. It was established on 23 May 1996. The company reported a turnover of Rs 25.73 crore in 2022, Rs 54.41 crore in 2023, and Rs 122.68 crore in 2024.

Furthermore, the firm’s board of directors approved the acquisition of Green New Delhi Forever Energy Pvt Ltd, a newly created non-operating company, by Waaree Forever Energies Pvt Ltd, the company’s wholly owned subsidiary. The acquisition is only for the purpose of supporting and maintaining certain power projects under the independent power producer (IPP) framework.

Waaree Energies’ six-month shareholder lock-in period expired on 25 April, allowing 15 crore shares to trade.

Waaree Energies recorded its highest-ever quarter, with earnings before interest, taxes, depreciation, and amortisation (EBITDA) and profit of Rs 920 crore and Rs 620 crore, respectively.

Its EBITDA margin of 23% increased 879 basis points from the previous year, owing to the start-up of a 1.4 GW cell facility, which enabled entrance into high-priced DCR modules. Its fourth-quarter production was strong, at 2.1GW, up 53% from the previous year.

At 12:22 pm, the shares of Waaree Energies were trading 0.82% lower at Rs 2,924 on NSE. 

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