ReNew Energy Global Q1 Results: $60M Net Profit, $480M Total Income, and FY 2026 Expansion Plans

ReNew Energy Global reported Q1 net profit of $60 million, with total income of $480 million (+65.5% Y/Y) and revenue from power sales at $297 million. The company expects to complete 1.6 to 2.4 GWs of new construction in FY 2026, marking a significant expansion in its renewable energy operations.

ReNew Energy Global Plc (RNW, RNWWW) reported its Q1 net profit of $60 million, marking a substantial increase of 65.5% year-over-year (YoY) compared to the previous quarter. Total income for the quarter reached $480 million, while revenue from power sales amounted to $297 million. The company's Adjusted EBITDA surged by 43% YoY to $317 million, indicating robust financial performance. The results were driven by a 23% growth in operating MWs YoY, reaching approximately 18.2 GWs, including 6.5 GW of solar module manufacturing and 2.5 GW of cell manufacturing.

ReNew Energy's strategic focus on renewable energy expansion is evident in its FY26 guidance. The company expects to complete 1.6 to 2.4 GWs of new construction by the end of the fiscal year, signifying a significant increase in its renewable energy operations. Additionally, the company anticipates continued net gains from asset sales, which is part of its capital recycling strategy, contributing INR 1-2 billion to Adjusted EBITDA.

The company's financial performance is supported by its diversified operations, including module and cell manufacturing. Revenue from these operations contributed INR 13,223 million (US$ 154 million) in Q1 FY26, with net profit and Adjusted EBITDA from external sales reaching INR 3,562 million (US$ 42 million) and INR 5,292 million (US$ 62 million) respectively. This diversification helps mitigate risks associated with a single market or technology.

ReNew Energy's strong Q1 results and expansion plans position it well to capitalize on the growing demand for renewable energy solutions. The company's ability to balance financial performance with strategic growth initiatives underscores its commitment to driving decarbonization efforts. However, investors should monitor the company's ability to navigate regulatory changes, secure financing, and optimize costs to maintain its strong financial trajectory.

References:
[1] https://investor.renew.com/news-releases/news-release-details/renew-announces-results-first-quarter-fiscal-year-2026-q1-fy26