What's Happening?
ReNew Energy Global Plc announced its financial results for the second quarter of the fiscal year 2025-26, reporting a 5% year-on-year decline in quarterly profit to ₹468.0 crore ($53 million). Despite
the profit dip, the company's total income rose by 29% to ₹3,855.7 crore ($434 million), driven by growth in solar manufacturing operations. For the first half of the fiscal year, ReNew's net profit surged 84% to ₹980.6 crore ($110 million), with total income increasing by 46% to ₹7,971.5 crore ($898 million). The company's total portfolio expanded to 18.5 gigawatts, including 1.1 gigawatt hours of battery energy storage, reflecting a significant increase from the previous year.
Why It's Important?
ReNew Energy's financial results highlight the company's strong performance in solar manufacturing, contributing to significant income growth despite a decline in quarterly profit. The expansion of its portfolio to 18.5 gigawatts, including battery storage, positions ReNew as a major player in the renewable energy sector. The company's reaffirmed fiscal 2026 guidance and ongoing delisting effort from NASDAQ indicate strategic moves to enhance shareholder value and streamline operations. The growth in solar manufacturing capacity and planned new capacity additions are expected to drive future revenue and profitability.
What's Next?
ReNew Energy plans to complete 1.6-2.4 gigawatts of new capacity by the end of the fiscal year, with expectations for adjusted EBITDA and cash flow to remain in line with forecasts. The company is also pursuing a delisting from NASDAQ, supported by a share repurchase plan led by its founder and Chairman Sumant Sinha. These strategic initiatives aim to optimize operations and enhance shareholder value, positioning ReNew for continued growth in the renewable energy market.
