Waaree Energies Clarifies U.S. Customs Determination; Shares Fall

Mumbai, June 29: Waaree Energies has issued a clarification regarding a recent determination by the U.S. Customs and Border Protection (CBP), saying the agency did not make any adverse findings against the company and that its business operations remain unaffected.

In a media statement filed with the stock exchanges, the company said the CBP investigation, which included an on-site verification of Waaree’s manufacturing facility in India, concluded that the company did not export solar modules manufactured using Chinese-origin solar cells to the United States.

Waaree added that it fully cooperated throughout the investigation. The CBP also declined the petitioner’s request to issue an evasion finding covering all of the company’s imports.

According to the company, the determination applies only to a limited set of historical import entries and does not constitute a final adjudication. Waaree said it has the right to seek administrative review and, if required, judicial review before the U.S. Court of International Trade. It is currently evaluating all available legal remedies with its U.S. trade counsel.

The company further stated that there is no impact on its manufacturing operations, customer deliveries or commercial activities, and reaffirmed its commitment to regulatory compliance and transparency.

Stock Market Snapshot

Despite the clarification, the stock remained under pressure during Monday’s trading session.

As of 10:13 IST on June 29, 2026, Waaree Energies shares were trading at ₹2,890.00, down ₹119.40 or 3.97%. The Waaree Energies share price stayed in the red even after the company sought to address market concerns surrounding the U.S. Customs determination.

Investors are likely to monitor further developments, particularly any updates related to the company’s legal review process in the United States.

Company Background

Waaree Energies Ltd is one of India’s largest solar photovoltaic module manufacturers, with operations spanning solar module manufacturing, engineering, procurement and construction (EPC) services, and renewable energy solutions.

The company serves customers across domestic and international markets and has been expanding its manufacturing footprint to meet growing global demand for solar equipment.

Conclusion

Waaree Energies has sought to reassure investors that the U.S. Customs determination is narrow in scope and does not contain any adverse findings against the company. While the clarification addresses concerns over its U.S. business, the market reaction suggests investors will continue to watch for further regulatory developments and the outcome of any legal proceedings.

Source:

• https://www.nseindia.com/get-quote/equity/WAAREEENER/Waaree-Energies-Limited
• https://nsearchives.nseindia.com/corporate/WAAREE_28062026121840_WSAMediaStatement28June2026.pdf