Waaree Energies Subsidiary Acquires 24.21% Stake in Eppeltone Engineers Ltd for Strategic Growth
Waaree Smart Meters Private Limited, a step-down subsidiary of Waaree Energies Limited, has acquired a 24.21% equity stake in Eppeltone Engineers Limited. The acquisition was finalized through an off-market transaction on August 07, 2026.The company purchased the stake for approximately Rs. 21.78 crores using cash consideration.
Eppeltone Engineers Limited, which has been established since 1977, specializes in manufacturing electronic energy meters and various power conditioning devices, including smart meters. The acquisition aligns with Waaree’s strategy of integrating smart meters to strengthen the company's presence across the energy value chain. The transaction was confirmed as not being a Related Party Transaction.
Details regarding Eppeltone Engineers Limited and the specifics of the investment are provided in the table below:
| Particulars | Details |
|---|---|
| Target Entity | Eppeltone Engineers Limited |
| Industry | Specializes in manufacturing electronic energy meters, including smart meters, alongside various power conditioning devices. |
| Acquisition Stake | 24.21% of the equity share capital |
| Consideration | Cash Consideration amounting to approx. Rs. 21.78 crores |
| Incorporation Date | September 18, 2002 |
Financial Performance and Background
The subsidiary gained control over a portion of Eppeltone Engineers Limited through this investment. The target company has shown consistent growth in its turnover over the last three fiscal years:
| Fiscal Year | Turnover (Rs.) |
|---|---|
| FY 2023-24 | Rs. 78.45 crores |
| FY 2024-25 | Rs. 124.33 crores |
| FY 2025-26 | Rs. 134.74 crores |
WAAREEENER Stock Price Movement
On Friday, shares of Waaree Energies Limited climbed, closing at ₹2717 after registering a 2.11% gain in the market. The stock traded within a range between the day's low of ₹2656.9 and its high of ₹2730, with 777,123 shares transacted during the session.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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