Renew Energy Global Stock Earnings Reports

ReNew reported strong Q1 FY26 operational and financial performance. Key operational highlights include commissioning ~2.2 GW of capacity since July (23% portfolio growth after asset sales), signing PPAs for 3.7 GW, and reiteration of FY26 construction guidance of 1.6–2.4 GW. The company's solar manufacturing business is fully ramped — Q1 production was ~900 MW of modules and 400 MW of cells — and contributed materially to adjusted EBITDA, leading management to raise FY26 manufacturing EBITDA guidance to INR 8–10 billion. Financially, adjusted EBITDA was INR 27.2 billion (up 43% YoY) and profit after tax was INR 5.1 billion for the quarter. Leverage at the operating asset level remains below the 6x target (trailing 12-month ~5.7x excluding under-construction projects). Management reiterated group FY26 guidance (Adj. EBITDA INR 87–93 billion, expected toward the higher end; cash flow to equity INR 14–17 billion) while emphasizing disciplined, selective bidding. ESG progress was highlighted: Scope 1 & 2 emissions down 18.2% vs FY22, water savings of 51%, carbon neutrality for Scope 1 & 2, and expanded integrated reporting. The company also disclosed receipt of a revised nonbinding USD 8 per share offer from a consortium, with a special committee update expected by Sept 30, 2025.