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The company said the purpose of acquiring the shares is to secure open access to renewable energy and increase its solar energy usage in Maharashtra.

The company’s Less than Container Load (LCL) business rose 10% from June to 774 cubic meters.

The Winger Plus is powered by a 2.2-litre Dicor diesel engine, delivering 100 hp and 200 Nm of torque.

The move suggests Himatsingka may be looking to strengthen its balance sheet or support future expansion at a time of shifting market conditions.

In its latest quarterly results the company posted a 302.8% jump in consolidated net profit to ₹51.24 crore in Q1 FY26

The earlier three-month approval, granted on May 30, 2025, was due to lapse on August 31. At that time, the regulator had called it the “final extension” for the arrangement.

In addition, Pallon S Mistry has been inducted to the company’s board, representing the next generation of the Shapoorji Pallonji family.

Together, these underscore Waaree’s growing presence in the American renewable energy market.

The decision was approved at the board meeting of PG Technoplast on August 28, 2025.

The scope also includes setting up signalling towers and related infrastructure across the corridor.