Waaree Energies: India’s largest manufacturer and exporter of solar modules Waaree Energies makes most of its money by manufacturing and selling solar panels (modules), with smaller but fast‑growing revenue from EPC (turnkey solar projects) and a tiny share from power generation. What Waaree sells and where money comes from The core business is solar PV modules (panels) sold to power plants, commercial/industrial rooftops, and exports; this accounts for roughly mid‑80% of rev

Polycab - India’s leading manufacturer of cables and wires.

Dissecting the business model, sector dynamics, risks, and management signals behind a slow-growth but high-margin rating franchise. CARE Ratings: A Tollbooth on India’s Credit Market with a Scarred Track Record CARE Ratings makes most of its money by charging companies, banks, and bond issuers fees to rate their debt and then charging smaller annual fees to keep those ratings updated. Almost all revenue comes from this ratings work in India, so the business is asset‑light w