+
Waaree Energies Faces Tax Inspection Amid Major Solar Module Order
POWER & RENEWABLE ENERGY

Waaree Energies Faces Tax Inspection Amid Major Solar Module Order

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.

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.

Related Stories

Gold Stories

Next Story
Equipment

Seven Propel 470 HEV electric tippers go to work on coal haulage in Chhattisgarh

Propel EV, the electric mobility division of Propel Industries and India's No. 1 electric tipper brand, has deployed seven 470 HEV electric trucks with a leading coal-haulage contractor at one of India's largest opencast coal mines in Chhattisgarh. The trucks are in daily operation, moving coal on continuous haul cycles in one of the most demanding applications in Indian mining.Why Electric - and Why CoalCoal haulage runs round the clock: heavy loads, long haul cycles, steep ramps and abrasive dust. It is also where diesel hurts most. Engines run continuously, fuel is the largest single operat..

Next Story
Infrastructure Transport

UP Cabinet Approves Renaming Jewar Airport After PM Modi

The Uttar Pradesh Cabinet has approved a proposal to rename Noida International Airport at Jewar as Narendra Modi International Airport, Noida-Jewar. Chief Minister Yogi Adityanath announced the decision after a Cabinet meeting, saying the airport represented a major contribution to the state and would become Uttar Pradesh’s largest airport and a significant aviation hub. The greenfield airport’s foundation stone was laid by Prime Minister Narendra Modi on November 25, 2021. He inaugurated Phase 1 on March 28, 2026, and commercial flights began on June 15. The facility is being developed a..

Next Story
Infrastructure Energy

Rolls-Royce Seeks Deeper Strategic Role in India

Rolls-Royce has described India as central to its long-term ambitions and said it wants to deepen its role as a strategic partner supporting the country’s energy security, infrastructure growth, national security and connectivity. The British aero-engine maker said its future expansion would build on decades of operations, industrial partnerships, engineering capabilities and a growing manufacturing and supply-chain ecosystem. The company held a board meeting in India for the first time this week. During a three-day visit, Rolls-Royce chief executive Tufan Erginbilgic met Prime Minister Nare..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code