Waaree Technologies Limited, initially established as a partnership firm named M/s. H.K. International in 1993, transformed into a public limited company in 2013 and was renamed Waaree Technologies Limited in 2019. The company functions as a significant intermediary in the packaging material supply chain, dealing primarily with tapes, labels, and papers. Initially focused on manufacturing and supplying adhesive tapes and synthetic paper, Waaree Technologies diversified into module trading in the 2018-19 fiscal year.
In 2022-23, the company expanded further by acquiring the battery business of Waaree ESS Private Limited. This acquisition included all related assets and liabilities, along with a manufacturing facility. As a result, Waaree Technologies now generates revenue from trading and selling battery cells and batteries, alongside its traditional packaging material business. This strategic expansion into the battery sector highlights the company's growth and diversification efforts, positioning it as an emerging player in the battery manufacturing industry.
