Waaree Energies said it is in discussions with the government of Andhra Pradesh and certain other state governments to set up a proposed greenfield battery manufacturing facility involving an investment of around Rs 8,000 crore, as per the company’s filing with the exchanges.
In a clarification to stock exchanges, the company said the discussions relate to a previously approved expansion plan and that there is no unpublished price-sensitive information pending disclosure.
Clarification after the media report
The clarification follows a media report stating that Andhra Pradesh had secured Waaree Energies’ battery gigafactory with an investment of Rs 8,175 crore.
Responding to an exchange query, the company said its board had, at a meeting held on 1 October 2025, approved an increase in manufacturing capacity of lithium-ion advanced chemistry storage cells and battery energy storage systems (BESS) from 3.5 GWh to 20 GWh.
The board had also approved additional capital expenditure of approximately Rs 8,000 crore in its wholly owned subsidiary, Waaree Energy Storage Solutions, to execute the expansion.
The company said this development had already been disclosed to stock exchanges on 1 October 2025.
Talks with states underway
Pursuant to the board approval, Waaree Energies said it is in discussions with the Andhra Pradesh government and certain other state governments for setting up the proposed greenfield manufacturing facility.
It added that the movement in the company’s share price is market-driven and reiterated that there is no unpublished price-sensitive information pending disclosure.
Waaree Energies Q3 performance
The company has reported a revenue from operations of Rs 7,565 crore in Q3FY26, as compared to Rs 3,457.29 crore in Q3FY25. Furthermore, the net profit rose to Rs 1,106.79 crore in Q3FY26, compared to Rs 506.88 crore in Q3FY25.