Waaree Energies, Premier Energies and More Tumble After US Slaps 126% Preliminary Duty on Imports

On February 25, 2026, Shares of Waaree Energies Ltd, Premier Energies Ltd, and Vikram Solar Ltd plunged up to 10%, after the Trump administration imposed preliminary duties of 126% on solar imports from India, as mentioned in various news reports.

The US Commerce Department also announced provisional duties ranging from 86% to 143% on imports from Indonesia and 81% on shipments from Laos. The rates were calculated based on findings that foreign subsidies enabled exporters to undercut American solar manufacturers.

Separate From Recent Tariff Actions

These duties are distinct from the reciprocal tariffs earlier introduced by the Trump administration, which were struck down by the US Supreme Court last week. In response, President Donald Trump issued a 10% universal tariff, later increasing it to 15% over the weekend. The initial 10% tariff came into effect from last night (local time).

Also Read: Union Cabinet Approves Ahmedabad Metro Extension from GIFT City to Shahpur

Company-Specific Impact

Waaree Energies

Waaree Energies has a significant presence in the US market. During its December quarter earnings call, management reiterated that the US remains a key focus area, with ongoing investments and capacity expansion. The company recently acquired Meyer Burger and continues to explore both organic and inorganic growth opportunities.

As of the end of Q3, Waaree’s order book stood at ₹60,000 crore. The company also expressed confidence in exceeding its FY26 EBITDA guidance of ₹5,500–6,000 crore.

Notably, 32.6% of its December quarter revenue was derived from overseas markets, making it more sensitive to export disruptions.

Premier Energies & Vikram Solar

Premier Energies has limited direct exposure to the US market, potentially cushioning the impact. Vikram Solar, however, derives around 20% of its order book from exports, which could face headwinds if the US market becomes less accessible. Vikram Solar’s shares are already trading over 40% below their IPO price, reflecting existing pressures.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.