Key Takeaways
ReNew Energy Global Plc (Nasdaq: RNW) reported net profit for the 2026 fiscal year more than doubled, as the Indian decarbonization company expanded its operational capacity to a record level.
The results, announced May 18, reflect a sharp increase in the company’s power generation portfolio and a significant contribution from its growing solar module and cell manufacturing business. ReNew has benefited from India's push toward clean energy and energy independence.
For the fiscal year ended March 31, 2026, ReNew’s net profit surged 2.3 times to INR 10.4 billion, or about $111 million. Total income, equivalent to revenue, climbed to INR 150.6 billion from INR 109.1 billion a year earlier. The company’s adjusted EBITDA for the year was INR 98.5 billion.
The company’s total commissioned capacity, a key metric for power producers, increased by 16.6 percent year-over-year to approximately 12.6 gigawatts as of March 31, even after selling 600 megawatts of assets as part of its capital recycling strategy. Revenue from the external sale of solar modules and cells was INR 41.9 billion for the year, a more than three-fold increase from fiscal 2025.
For the fourth quarter, net profit was INR 777 million, a decrease from the INR 3.1 billion reported in the same period a year ago. The company attributed the quarterly decline to the absence of a gain on asset sales that was recognized in the fourth quarter of fiscal 2025.
Looking ahead, ReNew issued guidance for fiscal year 2027, projecting adjusted EBITDA between INR 103 billion and INR 109 billion. The company also expects to add between 1.6 and 2.4 GW of new capacity during the year.
The strong annual performance highlights the company's expanding scale in both clean energy generation and manufacturing. Investors will watch the company's ability to execute on its capacity expansion plans and maintain momentum in its manufacturing segment through fiscal 2027.
This article is for informational purposes only and does not constitute investment advice.
