Can Waaree Energies Become a Long-Term Multibagger in India’s Solar Boom?
Waaree Energies Share Price Target : India is entering a decisive phase in its renewable energy journey, with solar power at the center of long-term policy, investment, and infrastructure planning. One company that has emerged as a major beneficiary of this trend is Waaree Energies.
With aggressive capacity expansion, a strong order pipeline, and rising global demand for solar modules, Waaree Energies is increasingly viewed as a long-term growth stock in the renewable energy sector.
This article presents a fresh, original, and year-wise analysis of Waaree Energies share price targets from 2026 to 2035, with clear headings and explanations for each phase.
Waaree Energies Business Overview
Waaree Energies is one of India’s largest solar module manufacturers. As of December 2025, the company’s ALMM-approved manufacturing capacity has crossed 20.17 GW, giving it a strong competitive edge in the domestic market.
Key strengths of the business:
- Large-scale solar module manufacturing
- Strong presence in utility-scale solar projects
- EPC solutions and diversified revenue streams
- Export exposure across multiple geographies
- Beneficiary of PLI schemes and policy support
The Chikhli (Gujarat) facility alone contributes over 16 GW of approved capacity, making Waaree a strategic player in India’s energy security goals.
Recent Performance and Market Trend
Around December 2025, Waaree Energies touched an intraday high near ₹3,077, showing strong short-term buying interest. However, the stock was trading below its 50-day and 100-day moving averages, indicating that the medium-term trend is still stabilizing.
Key observations:
- Short-term volatility remains
- Long-term structure remains intact
- Capacity expansion improves revenue visibility
- Export pipeline supports future growth
This setup often attracts long-term investors looking to accumulate during consolidation phases.
Technical View and Long-Term Support Zones
Technical indicators such as RSI, MACD, and CCI have shown oversold to neutral signals at different points, suggesting short-term corrections are possible.
From a long-term perspective:
- The 200-day moving average is acting as a key support
- ₹2,800–3,000 zone has emerged as a strong base
- Multiple support-resistance clusters exist in this range
Such structures are commonly seen before the next major long-term trend resumes.
Expert View and Sector Outlook
Several brokerage and research houses maintain a positive to outperform view on Waaree Energies.
Consensus insights:
- Average 12-month target: ~₹3,474–₹3,581
- Bullish estimates: up to ~₹4,600
- Conservative estimates: ~₹2,087
Experts believe the renewable energy sector may remain in a high-growth phase for the next 8–10 years, supported by global decarbonization goals, rising power demand, and domestic manufacturing incentives.
Waaree Energies Share Price Target 2026
By 2026, Waaree Energies is expected to benefit from the full utilization of its expanded manufacturing capacity and stronger domestic demand.
Expected Range (2026): ₹3,600 – ₹4,000
Growth drivers include higher module shipments, improved operating leverage, and continued policy support for solar installations.
Waaree Energies Share Price Target 2027
In 2027, exports and EPC execution could play a larger role in revenue growth as global solar adoption accelerates.
Expected Range (2027): ₹4,000 – ₹4,600
At this stage, the market may start pricing Waaree as a scaled global solar manufacturer rather than a domestic player.
Waaree Energies Share Price Target 2028
By 2028, Waaree Energies may enter a strong earnings expansion phase driven by efficiency gains and technology upgrades.
Expected Range (2028): ₹4,600 – ₹5,400
Improved margins and stable order inflows could justify higher valuation multiples.
Waaree Energies Share Price Target 2029
In 2029, solar power is expected to become a dominant energy source across several regions, benefiting large manufacturers.
Expected Range (2029): ₹5,400 – ₹6,500
This phase could reflect sustained compounding rather than sharp speculative moves.
Waaree Energies Share Price Target 2030
By 2030, Waaree Energies may be firmly positioned as a core supplier in India’s renewable energy ecosystem.
Expected Range (2030): ₹6,500 – ₹7,800
Long-term contracts, exports, and scale advantages could support stable growth.
Waaree Energies Share Price Target 2031
In 2031, further capacity optimization and global partnerships may drive the next leg of expansion.
Expected Range (2031): ₹7,800 – ₹9,200
At this stage, the company could attract long-term institutional capital.
Waaree Energies Share Price Target 2032
By 2032, Waaree may benefit from next-generation solar technologies and global clean energy transitions.
Expected Range (2032): ₹9,200 – ₹10,800
Revenue diversification and higher entry barriers could strengthen its market position.
Waaree Energies Share Price Target 2033
In 2033, renewable energy penetration is expected to deepen across both emerging and developed markets.
Expected Range (2033): ₹10,800 – ₹12,800
This phase may reflect long-term brand strength and execution consistency.
Waaree Energies Share Price Target 2034
By 2034, Waaree Energies could emerge as a global-scale solar manufacturing leader.
Expected Range (2034): ₹12,800 – ₹14,800
Higher margins and technology leadership may justify premium valuations.
Waaree Energies Share Price Target 2035
By 2035, Waaree Energies may stand among the most influential renewable energy companies from India.
Expected Range (2035): ₹14,800 – ₹17,000
This long-term target assumes sustained execution, favorable policy support, and global clean energy adoption.
Waaree Energies Share Price Target Table (2026–2035)
| Year | Expected Price Range (₹) |
|---|---|
| 2026 | 3,600 – 4,000 |
| 2027 | 4,000 – 4,600 |
| 2028 | 4,600 – 5,400 |
| 2029 | 5,400 – 6,500 |
| 2030 | 6,500 – 7,800 |
| 2031 | 7,800 – 9,200 |
| 2032 | 9,200 – 10,800 |
| 2033 | 10,800 – 12,800 |
| 2034 | 12,800 – 14,800 |
| 2035 | 14,800 – 17,000 |
Final Verdict
Waaree Energies represents a high-growth, high-conviction renewable energy opportunity aligned with India’s and the world’s clean energy future. While short-term volatility and valuation risks remain, the long-term outlook appears strong for investors with patience and a multi-year horizon.
Disclaimer
This article is for educational and informational purposes only and does not constitute investment advice. Stock market investments are subject to market risks. Please consult a qualified financial advisor before making any investment decisions.
