Waaree Energies Faces Tax Inspection Amid Major Solar Module Order

28 Feb 2025 CW Team

Shares of Waaree Energies are set to be in focus after the company disclosed a tax inspection initiated by Mumbai’s Assistant Commissioner of State Tax.

In an exchange filing, Waaree Energies stated that officials conducted a search at its registered office and that of its subsidiary, Waaree Renewable Technologies.

“This is to inform you that, on February 25, 2025, the Assistant Commissioner of State Tax, Mumbai, initiated a search/inspection at the registered office of the Company and its subsidiary Waaree Renewable Technologies Limited. The search commenced at 3.45 pm and concluded at 8.00 pm, to be continued on the next day,” the company said.

The company has not disclosed the reason behind the inspection. It confirmed that authorities have sought operational details, and it is in the process of submitting the requested information.

“The search is ongoing, and the authorities have not issued any official document in this regard. The proceedings are ongoing, and the company is fully cooperating in providing the data as requested,” the company added.

Waaree Energies assured investors that its regular business activities remain unaffected, though the financial impact, if any, is yet to be determined.

Secures 410 MWp Solar Module Order Amid the tax inspection, Waaree Energies announced a significant order from ABREL EPC, a subsidiary of Aditya Birla Renewables, for the supply of 410 MWp solar PV modules.

“The company has received an order for the supply of solar modules for 410 MWp from ABREL EPC Limited (a wholly owned subsidiary of Aditya Birla Renewables Limited), engaged in the business of owning, developing, and operating renewable power projects in India,” Waaree stated.

The supply of these modules will commence in FY 2025-26.

Infrastructure Urban

02 Jun 2026

VECV Sales Rise 7.8 Per Cent In May 2026

VE Commercial Vehicles recorded sales of 7,978 units in May 2026, compared to 7,401 units in May 2025, registering growth of 7.8 per cent. This included 7,789 units from the Eicher brand and 189 units from the Volvo brand.Eicher branded trucks and buses reported sales of 7,789 units during the month, up 7.3 per cent from 7,258 units a year earlier. In the domestic commercial vehicle market, Eicher sales rose 9.1 per cent to 7,375 units from 6,758 units in May 2025.Exports declined 17.2 per cent to 414 units from 500 units in the corresponding month last year. Volvo Trucks and Volvo Buses recor..

Table Space Strengthens DESYN Leadership Team

Table Space has announced strategic leadership appointments within DESYN, its integrated Design and Build business, as it looks to strengthen operations across key enterprise and GCC markets in India. DESYN was launched as a strategic extension of Table Space’s workspace solutions portfolio to meet rising demand for agile, high-quality and rapidly deployable enterprise workspaces.Shruti Ookabhoy has joined DESYN as Executive Director and will lead the Design vertical, focusing on design capability, operational excellence and team development across markets. She brings over 22 years of experi..

Concord Associate Bags Rs 2.79 Bn Kavach Order

Concord Control Systems said its associate company, Progota India, has received a Rs 2.79 bn domestic order from Indian Railways for the supply, installation, testing and commissioning of on-board Kavach 4.0 loco equipment.The order is scheduled for execution within 12 months and strengthens Concord’s role in India’s railway safety and signalling ecosystem. Kavach is India’s indigenous automatic train protection system, designed to improve operational safety by helping prevent signal passing at danger and reducing collision risks.Gaurav Lath, Joint Managing Director, Concord Control Syst..