Amit Ashok Paithankar, who was earlier scheduled to step down in May 2026, has been relieved of his duties with effect from 20 March 2026, following a mutual agreement with the company.
Jignesh Rathod, who was serving as CEO-designate, has been associated with the company since 2007 and currently oversees operations across its manufacturing facilities. His appointment is for a term of five years, subject to shareholder approval.
Separately, Sonal Shrivastava has stepped down as CFO upon completion of her notice period. Abhishek Pareek, who joined Waaree in 2017 and currently serves as group head of finance, brings nearly two decades of experience across corporate finance, treasury, capital markets, and mergers and acquisitions (M&A). He has led several large-scale equity fundraises and debt financing initiatives.
As part of the broader leadership restructuring, the company has also approved the appointment of Munna Singh as deputy CFO and Varun Goenka as president of growth & strategy, both effective 1 April 2026.
Mumbai-based Waaree Energies is a renewable energy company. It offers innovative solar solutions, including panel manufacturing, EPC services, project development, and rooftop systems.
The company reported a 115.64% year-on-year (YoY) jump in consolidated net profit to Rs 1,062.46 crore in Q3 FY26, compared with Rs 492.69 crore recorded in the same quarter last year. Revenue from operations soared 118.81% YoY to Rs 7,565.05 crore for the quarter ended 31 December 2025.
Shares of Waaree Energies declined 3.86% to Rs 3,042 on the BSE.