ReNew Energy Global Reports Q1 2027 Earnings with Growth, Margin Pressure, and Strategic Updates
ReNew Energy Global Plc reported a strong performance for the first quarter of fiscal year 2027, achieving 26% year-over-year growth in its operating portfolio to reach 13.5 GW. The company commissioned over 1 GW of new capacity during this period and saw an adjusted EBITDA increase of 12%, largely driven by INR 5.7 billion from the manufacturing segment. Despite margin contraction in the manufacturing business—from 40% to 34%—ReNew maintained disciplined capital allocation, with a net debt-to-EBITDA ratio at 5.7x for operational projects. The company also improved liquidity through asset sales and collections, reducing DSOs to 54 days by July 2026. Looking ahead, ReNew reiterated its FY '27 adjusted EBITDA guidance of INR 103 billion to INR 109 billion and expects the completion of a 4 GW TOPCon cell facility. A proposed take-private transaction with CPPIB is pending regulatory approvals and expected to close in Q1 2027.
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Topics: asset sales capital allocation ebitda growth renewable energy