ReNew Q1 profit surges 13-fold, EBITDA up 43%

Sumant Sinha led ReNew Energy Global Plc, on Thursday reported a net profit of 5.13 billion rupees ($60 million) for the first quarter of fiscal year 2026, up from 394 million rupees a year earlier, helped by higher capacity and manufacturing sales.

Adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) rose 43% year-on-year to 27.22 billion rupees, while total income jumped to 41.18 billion rupees from 24.90 billion rupees a year earlier. Revenue from power sales grew to 25.47 billion rupees from 22.34 billion rupees.

11 GW Of Operational Portfolio

As of June 30, ReNew had an operational portfolio of about 11.1 gigawatts (GW) plus 150 megawatt-hours of battery storage, up 14.8% year-on-year, and a total portfolio of around 18.2 GW plus 1.1 gigawatt-hours of storage. The company also operates 6.5 GW of solar module and 2.5 GW of cell manufacturing capacity and is building a 4 GW cell plant.

Revenue from its module and cell manufacturing operations was 13.22 billion rupees in the quarter, with external sales contributing a net profit of 3.56 billion rupees and EBITDA of 5.29 billion rupees, indicting the vital role the manufacturing operations have played for the firm. 

ReNew reaffirmed its full-year guidance, expecting to add 1.6 GW to 2.4 GW of capacity by March 2026 and forecast external manufacturing sales to contribute 8 billion to 10 billion rupees to annual EBITDA. Guidance includes 1 billion to 2 billion rupees from asset sales under its capital recycling strategy.

The NASDAQ listed firm has been in the news for its plans to go for an IPO in India, something SaurEnergy has predicted cnsistently, considering the much better valuations the firm is capable of attracting from India investors It hopes to do a simultaneous delisting and listing in India now.