About Waaree Technologies Limited

Waaree Technologies Limited was incorporated in 2013 and has steadily evolved into a company engaged in the business of energy storage systems. The Company has its registered office at Borivali (East), Mumbai, Maharashtra. Over the years, Waaree Technologies has built capabilities in project acquisition, development and execution, guided by its promoters and management team with long-standing experience. The Company has no foreign investments or collaborations during the financial year 2024-25. Its operations are supported by ICICI Bank and State Bank of India as bankers, with MUFG Intime India Private Limited acting as registrar and transfer agent. Waaree Technologies is listed on the BSE SME Exchange under the scrip code 539337.

The Company positions itself as a customer-centric organisation aspiring to follow a “Safety, Health, Environment & People First” approach. It continues to explore diversification opportunities while focusing on efficiency and margin improvement.

Waaree Technologies Limited Business Segments

Waaree Technologies is primarily engaged in Energy Storage Systems.

Waaree Technologies Limited Key Management

• Mr. Kirit Chimanlal Doshi – Chairman & Managing Director

• Mr. Rushabh Pankaj Doshi – Executive Director and Chief Financial Officer

• Mr. Jayesh Dhirajlal Shah – Non-Executive and Independent Director

• Mr. Vivek Srivastava – Director (Non-Executive)

• Mr. Vibhor Kumawat – Company Secretary and Compliance Officer

Latest Updates on Waaree Technologies Limited

• Re-appointment of Leadership: Mr. Kirit Chimanlal Doshi was re-appointed as Chairman and Managing Director for a three-year term from May 14, 2025 to May 13, 2028.

• Board Strengthening: Appointment of two new independent directors, Mr. Mitul Chandulal Mehta and Ms. Anita Jaiswal, with effect from March 6, 2025, each for a five-year term up to March 5, 2030.

• Material Related Party Transactions: Approval was granted for transactions with Waaree Energies Limited involving purchase and sale of goods (Rs 5 crore each) and inter-corporate deposits up to Rs 20 crore.

Operational Challenges: The Company cited higher input costs, underutilised production capacity, and slower-than-expected market traction as reasons for continued losses.