ReNew Energy Global Plc (“ReNew” or “the Company”) (Nasdaq: RNW, RNWWW), a leading decarbonization solutions company, today announced its unaudited consolidated IFRS results for the three-month period ended September 30, 2025.
Operating Highlights:
- As of September 30, 2025, the Company’s portfolio consisted of ~18.5 GWs (+1.1 GWh BESS), compared to ~15.6 GWs as of September 30, 2024. In addition, the Company has 6.5 GW solar module manufacturing facilities and a 2.5 GW solar cell manufacturing facility which is operational and is building a 4 GW solar cell manufacturing facility.
- The Company’s commissioned capacity has increased 12.8% year-over-year to ~11.4 GWs (+150 MWh BESS) as of September 30, 2025. Subsequently, the Company has commissioned 212 MWs in October 2025, taking the total capacity as on date to ~11.6 GWs.
- Total Income (or total revenue) for H1 FY26 was INR 79,715 million (US$ 898 million), compared to INR 54,713 million (US$ 616 million) for H1 FY25. Net profit for H1 FY26 was INR 9,806 million (US$ 110 million) compared to INR 5,333 million (US$ 60 million) for H1 FY25. Adjusted EBITDA for H1 FY26 was INR 53,459 million (US$ 602 million), as against INR 43,188 million (US$ 486 million) for H1 FY25.
- Total Income (or total revenue) for Q2 FY26 was INR 38,557 million (US$ 434 million), compared to INR 29,887 million (US$ 337 million) for Q2 FY25. Net profit for Q2 FY26 was INR 4,675 million (US$ 53 million) compared to INR 4,939 million (US$ 56 million) for Q2 FY25. Adjusted EBITDA for Q2 FY26 was INR 26,240 million (US$ 296 million), as against INR 24,209 million (US$ 273 million) in Q2 FY25.
- Revenue from sale of power for H1 FY26 was INR 51,548 million (US$ 581 million) compared to INR 48,342 million (US$ 545 million) for H1 FY25. Revenue from sale of power for Q2 FY26 was INR 26,076 million (US$ 294 million), compared to INR 26,008 million (US$ 293 million) for Q2 FY25.
- Total income (or total revenue) for H1 FY26 includes external sales from our solar module and cell manufacturing operations amounting to INR 23,351 million (US$ 263 million). Net profit and Adjusted EBITDA for H1 FY26 from external sales from our solar module and cell manufacturing operations was INR 5,767 million (US$ 65 million) and INR 8,621 million (US$ 97 million) respectively.
- Total income (or total revenue) for Q2 FY26 from our solar module and cell manufacturing operations was INR 10,128 million (US$ 114 million). Net profit and Adjusted EBITDA for Q2 FY26 from external sales from our solar module and cell manufacturing operations was INR 2,206 million (US$ 25 million) and INR 3,329 million (US$ 37 million) respectively.
Total Income (or total revenue) for Q2 FY26 was INR 38,557 million (US$ 434 million), compared to INR 29,887 million (US$ 337 million) for Q2 FY25. Net profit for Q2 FY26 was INR 4,675 million (US$ 53 million) compared to INR 4,939 million (US$ 56 million) for Q2 FY25. Adjusted EBITDA for Q2 FY26 was INR 26,240 million (US$ 296 million), as against INR 24,209 million (US$ 273 million) in Q2 FY25.Note: the translation of Indian rupees into U.S. dollars has been made at INR 88.78 to US$ 1.00.
FY26 Guidance
The Company reiterates its FY26 guidance and expects to complete the construction of 1.6 to 2.4 GWs by the end of Fiscal Year 2026. The Company’s Adjusted EBITDA and Cash Flow to Equity guidance for FY26 are subject to weather and resource availability. The Company continues to anticipate net gains in sales of assets, which is part of ReNew’s capital recycling strategy, and has included INR 1-2 billion related to asset sales in the Adjusted EBITDA. The Company now expects external sales from our solar module and cell manufacturing to contribute INR 10-12 billion of Adjusted EBITDA in this guidance.
| Financial Year | Adjusted EBITDA | Cash Flow to equity (CFe) | ||
| FY26 | INR 87 – INR 93 billion | INR 14 – INR 17 billion |
Note: the translation of Indian rupees into U.S. dollars has been made at INR 88.78 to US$ 1.00.
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