India-based Waaree Energies has commenced operations at its 1.80 GW solar module plant in Degam, Gujarat. The facility is located in Navsari District and was officially disclosed via a stock exchange filing. Earlier this week, the company reported a 20.3% sequential rise in Q1 FY26 net profit. Profit increased to INR 745 crore from INR 619 crore (~$ 70.94 million) in Q4 FY25. Operating performance also improved significantly during the quarter. EBITDA rose 73.4% to INR 997 crore (~$ 114.26 million), compared to INR 575 crore (~$ 65.89 million) previously. The EBITDA margin expanded to 22.5% from 14.3%, indicating higher efficiency and realisations. Despite the operational gains, Waaree Energies' shares fell 4.8% on the BSE. The stock was trading at INR 2,992.7, down INR 152.45 from its opening price. Cost controls and internal efficiencies supported the earnings growth.