Waaree Energies calls off ₹293 crore acquisition of Kamath Transformers

Renewable energy company, Waaree Energies Limited, on Wednesday (July 16), announced that its proposed ₹293 crore acquisition of Kamath Transformers Private Limited will not proceed, as both parties failed to reach an agreement on the terms of a definitive agreement within the agreed timelines.The company had earlier disclosed the planned acquisition on May 19, 2025. The acquisition, which was to be completed within the current fiscal year, involved Waaree Energies acquiring 100% shareholding in Kamath Transformers on a cash consideration basis. The deal was intended as part of Waaree Energies’ business expansion strategy.

Also Read: Here’s why Waaree Energies shares are on the decline
Kamath Transformers Private Limited, incorporated on May 23, 1996, is a transformer manufacturing company. It reported revenues of ₹25.73 crore in FY22, ₹54.41 crore in FY23, and ₹122.68 crore in FY24.
Fourth Quarter ResultsWaaree Energies Ltd reported a 34.1% year-on-year (YoY) jump in net profit at ₹618.9 crore for the fourth quarter that ended March 31, 2025. In the corresponding quarter of the previous fiscal, Waaree Energies posted a net profit of ₹461.5 crore, the company said in a regulatory filing. The company’s revenue from operations surged 36.4% to ₹4,003.9 crore as against ₹2,935.8 crore in the corresponding period of the preceding fiscal.

At the operating level, EBITDA jumped 120.6% to ₹922.6 crore in the fourth quarter of this fiscal over ₹418.3 crore in the corresponding period in the previous fiscal. EBITDA margin stood at 23% in the reporting quarter as compared to 14.3% in the corresponding period in the previous fiscal. EBITDA is earnings before interest, tax, depreciation, and amortisation.

Also Read: Waaree Energies shares jump 9% on plans to double US capacity, FTSE inflows

Shares of Waaree Energies Ltd ended at ₹3,288.30, up by ₹67.75, or 2.10%, on the BSE.