Waaree Energies Terminates Acquisition of Kamath Transformers Worth ₹293 Crore

Renewable energy major Waaree Energies Limited has announced it is terminating its proposed ₹293 crore all-cash acquisition of Kamath Transformers Private Limited. The decision follows both parties being unable to finalise the definitive agreement within the agreed timeline. Initially disclosed on May 19, 2025, the deal was expected to be completed within the current fiscal year and was a key component of Waaree’s expansion strategy.

Acquisition withdrawal and Kamath’s profile

Kamath Transformers, founded in May 1996, is a manufacturer of power transformers. The company experienced consistent growth in revenues, reporting ₹25.73 crore in FY22, ₹54.41 crore in FY23, and ₹122.68 crore in FY24. Despite the withdrawal, Waaree emphasises that the failure to close the transaction was purely due to timing and terms not being agreed, and not due to strategic or financial concerns.

Waaree Energies Q4 FY25 Results

Waaree delivered impressive financial results for the quarter ended 31 March 2025. Net profit jumped 34.1% year-on-year to ₹618.9 crore, up from ₹461.5 crore a year ago. Revenue also surged 36.4% to ₹4,003.9 crore compared to ₹2,935.8 crore in the previous corresponding quarter. Operating EBITDA more than doubled by 120.6% to ₹922.6 crore, and the margin improved to 23%, up from 14.3% a year earlier. These results reinforce Waaree’s strong underlying operational performance.

Also Read: Waaree Renewable Technologies Share Price in Focus on LOA for Solar Project

Waaree Energies Share Price Performance

As of July 17, 2025, at 12:52 PM, Waaree Energies share price is trading at approximately ₹3,231.30, a decline of 1.80%. Over the past month, the stock has gained approximately 15.80%.

Conclusion

While the Kamath Transformers acquisition may not proceed, Waaree’s strong Q4 performance highlights its resilience and growth trajectory. The solid financial results and robust revenue trends support investor confidence, even as the company reassesses its strategic expansion plans.

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