ReNew Energy Reports Q1 FY2027 Earnings with Growth Amid Operational Challenges
ReNew Energy (RNW) reported its first-quarter earnings for fiscal year 2027, showing growth in total income and adjusted EBITDA despite operational challenges. Total income reached INR 47.9 billion ($506 million), driven by higher capacity utilization and increased external sales from solar manufacturing. Adjusted EBITDA rose to INR 30.4 billion ($321 million) with a net profit of INR 6 billion ($63 million). The company's operating capacity grew to 13.5 gigawatts, up 26% year-over-year after adjusting for divested assets. Despite these gains, the firm faced headwinds including grid curtailment in Rajasthan and adverse weather affecting solar plant load factors (PLF), which dropped from 24.6% to 22.4%. Manufacturing EBITDA margin also contracted due to increased market supply and pricing pressures. ReNew Energy is focusing on capital recycling, with asset sales expected to generate $191 million for the year ahead. The company provided guidance for FY2027 adjusted EBITDA between INR 103 billion and INR 109 billion, assuming normal weather conditions.
Topics: ebitda net_profit operational_capacity revenue