ReNew Power Q1 Results: A Multifold Growth in Net Profit
Clean energy firm ReNew Power has posted a multifold growth in net profit to Rs 513.1 crore for the June quarter, driven mainly by higher revenues from power sales. The company, listed on Nasdaq, had logged a net profit of Rs 39.4 crore in the April-June period of the preceding 2024-25 financial year.
Key Highlights of ReNew Power Q1 Results
- Total income (or total revenue) rose to Rs 4,118.2 crore ($480 million), compared to Rs 2,490.3 crore ($290 million) for the first quarter of fiscal 2025.
- Revenues from power sales surged to Rs 2,547.3 crore ($297 million) from Rs 2,233.5 crore ($260 million) for the first quarter of fiscal 2025.
- Total income (or total revenue) from module and cell manufacturing operations was Rs 1,322.3 crore ($154 million).
- Net profit and Adjusted earnings before interest, taxes, depreciation, and amortization for the first quarter of fiscal 2026 from external sales from module and cell manufacturing operations were Rs 356.2 crore ($42 million) and Rs 529.2 crore ($62 million), respectively.
Operational Updates and Guidance
As of June 30, 2025, the company’s portfolio consisted of 18.2 GWs (+1.1 GWh battery energy storage system), compared to 15.6 GWs as of June 30, 2024. In addition, the company has 6.5 GW of solar module manufacturing and 2.5 GW of cell manufacturing, which is operational, and is building a 4 GW cell manufacturing facility.
ReNew Power said its commissioned capacity has increased 14.8% year-over-year to 11.1 GWs (+150 MWh BESS) (net of 600 MWs of assets sold since Q1 FY25) as of June 30, 2025. Subsequently, it commissioned an additional 50 MW in July 2025.
Guidance for Fiscal 2026
On its guidance for fiscal 2026, ReNew Power said it aims to complete the construction of 1.6 to 2.4 GWs of projects by the end of the ongoing fiscal year. The company’s Adjusted Ebitda and cash flow to equity guidance for fiscal 2026 are subject to weather and resource availability.
The company anticipates continued net gains in sales of assets, which is part of ReNew’s capital recycling strategy, and has included Rs 1-2 billion related to asset sales in the Adjusted Ebitda.
Impact on Indian Stock Market
The Q1 results of ReNew Power are expected to have a positive impact on the Indian stock market, particularly on the renewable energy sector. The company’s strong performance is a testament to the growing demand for clean energy in India and the potential for growth in the sector.
Investor Takeaways
Investors should take note of the following key takeaways from ReNew Power’s Q1 results:
- The company’s strong revenue growth and profitability are a positive sign for the Indian renewable energy sector.
- The company’s expansion plans, including the construction of new projects and the commissioning of additional capacity, are expected to drive growth in the coming quarters.
- The company’s capital recycling strategy, which includes the sale of assets, is expected to generate significant cash flows and support the company’s growth plans.
Conclusion
In conclusion, ReNew Power’s Q1 results are a positive sign for the Indian renewable energy sector. The company’s strong revenue growth, profitability, and expansion plans make it an attractive investment opportunity for investors looking to capitalize on the growing demand for clean energy in India.
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