The proposed transaction involved a 100% cash-based acquisition of Kamath Transformers, as part of Waaree Energies’ expansion strategy.
Kamath Transformers, established in May 1996, manufactures transformers and has seen a strong revenue growth, reporting Rs 25.73 crore in FY22, Rs 54.41 crore in FY23, and Rs 122.68 crore in FY24.
Mumbai-based Waaree Energies is a renewable energy company. It offers innovative solar solutions, including panel manufacturing, EPC services, project development, and rooftop systems.
On a consolidated basis, Waaree Energies' net profit rose 34.10% to Rs 618.91 crore while net sales rose 36.38% to Rs 4003.93 crore in Q4 March 2025 over Q4 March 2024.
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