Waaree Energies Clarifies U.S. Customs Determination; Business Operations Unaffected

Waaree Energies Clarifies U.S. Customs Determination; Business Operations Unaffected​

Waaree Energies Limited has issued a statement clarifying findings related to a determination made by the U.S. Customs and Border Protection (CBP) concerning EAPA Consolidated Investigation No. 8163. The clarification addresses recent media reports regarding the investigation conducted against the company in India.

Following a detailed examination that included an on-site verification of Waaree’s manufacturing facility, CBP made several specific confirmations. These findings include the confirmation that Waaree did not export to the United States solar modules manufactured using Chinese-origin solar cells. Furthermore, CBP drew no adverse inference against the Company, and they noted Waaree's full cooperation throughout the investigation process.

The CBP determination also included a refusal of the petitioner’s request to make an evasion finding covering all of Waaree’s imports. It was clarified that this specific determination is limited to a narrow subset of certain historical import entries.

While acknowledging the findings, the statement emphasized that the determination does not constitute a final adjudication. Under applicable U.S. law, Waaree maintains the right to seek a de novo administrative review and subsequent judicial review before the U.S. Court of International Trade. The Company is currently assessing all available legal remedies in consultation with its U.S. trade counsel.

Waaree Energies reiterated its commitment to maintaining the highest standards of regulatory compliance, transparency, and governance. The company confirmed that its U.S. business continues to operate normally, and there is no impact on ongoing manufacturing, customer deliveries, or commercial operations. Waaree pledged to continue cooperating with relevant authorities and will provide appropriate updates as required under applicable laws and regulatory requirements.

WAAREEENER Stock Price Movement​

Waaree Energies Limited saw its shares slip on Thursday, settling down 0.62% to close at ₹3009.40. The equity traded a total of 531,855 shares during the session.