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'Our US expansion plans continue unabated'
Financial Express Kolkata
|October 18, 2025
Solar module maker Waaree Energies more than doubled its net profit to ₹878.21 crore in Q2FY26 as compared to ₹375.66 crore in the corresponding quarter of FY25. Its total income went up by 70% to ₹6,227 crore in Q2FY26.
Also, recently the US government started investigation whether Waaree sidestepped US tariffs on China made solar cells and tariffs by labelling them as made in India.
In an interview, the company's chief executive officer Amit Paithankar tells Raghavendra Kamath about the impact of US investigation on the company and its capacity expansion plans. Excerpts:
Will the ongoing US investigation impact your expansion plans there?
No, absolutely no. US is an extremely important market for us, and our expansions go unabated. We talked about Meyer Burger acquisition, which we proceeded with. We will continue to expand our facility in Texas. In the Select USA Summit in May this year, we also announced a potential investment in the battery storage system manufacturing in the US. So, our plans continue unabated.
You talked about further localisation in the US and backward integration in terms of cell production. So, can you elaborate on your plans?
This story is from the October 18, 2025 edition of Financial Express Kolkata.
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