Renew Energy Global Plc ( (RNW) ) has released its Q1 earnings. Here is a breakdown of the information Renew Energy Global Plc presented to its investors.
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ReNew Energy Global Plc is a leading decarbonization solutions company, primarily operating in the clean energy sector with a significant presence in India. The company is recognized for its extensive portfolio of renewable energy projects and its commitment to providing comprehensive solutions in clean energy, digitalization, storage, and carbon markets.
In its latest earnings report for the first quarter of Fiscal Year 2026, ReNew Energy Global Plc has demonstrated impressive financial growth. The company reported a 43% year-over-year increase in Adjusted EBITDA and a staggering 13-fold rise in net profit. Additionally, the company’s operating megawatts grew by 23% compared to the previous year.
Key financial metrics from the report highlight a total income of INR 41,182 million (US$ 480 million) for Q1 FY26, up from INR 24,903 million (US$ 290 million) in the same quarter of the previous fiscal year. The revenue from power sales also saw a rise, reaching INR 25,473 million (US$ 297 million). Furthermore, the company’s net profit surged to INR 5,131 million (US$ 60 million), a significant increase from INR 394 million (US$ 5 million) in Q1 FY25.
The company’s strategic expansion in solar module and cell manufacturing contributed significantly to its financial performance, with external sales from these operations generating INR 3,562 million (US$ 42 million) in net profit and INR 5,292 million (US$ 62 million) in Adjusted EBITDA. ReNew’s ongoing projects and future plans, including the construction of additional gigawatts, reflect its robust growth trajectory.
Looking ahead, ReNew Energy Global Plc remains optimistic about its growth prospects, reiterating its guidance for FY26. The company plans to complete the construction of 1.6 to 2.4 GWs by the end of the fiscal year and expects continued gains from asset sales as part of its capital recycling strategy. The management anticipates that external sales from module and cell manufacturing will significantly contribute to its Adjusted EBITDA, underscoring its strategic focus on expanding its manufacturing capabilities.