Early Life
Hitesh Chimanlal Doshi was born in the small village of Tunki, Maharashtra. Growing up in a financially constrained environment, he understood the value of education as a means to a better life. He completed his Bachelor's Degree in Commerce from Shri Chinai College of Commerce & Economics, University of Mumbai in 1987. During his college years, Doshi started his entrepreneurial journey.
Rise to Success
Doshi's entrepreneurial journey began in 1985 with a small loan of Rs 5,000 from a relative, which he used to start trading in hardware and electronics. He then established Waaree Instruments in 1989. In 1990, he founded Waaree Energies, focusing on pressure gauges, gas station equipment, and industrial valves. Recognizing the potential of solar energy, Doshi shifted his focus to solar-cell manufacturing in 2007. Waaree Energies became India's largest solar module manufacturer by capacity.
Key Business Strategies
Hitesh Doshi's strategic vision transformed Waaree Energies into a key player in the renewable energy sector. His company's IPO in October 2024 boosted the family's net worth significantly. The company's focus on innovation, quality, and strategic investments contributed to its success. Doshi expanded manufacturing capacity and secured significant export orders, especially to the United States. Waaree Energies has five solar module manufacturing plants in India.
Philanthropy
Doshi and his family are committed to charitable causes. The promoter family of Waaree Energies has pledged to donate 1% of the company's equity share capital to support education, healthcare, and community development. This commitment demonstrates their dedication to giving back to society and building a more equitable future.
