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RNW

ReNew Energy Global Plc

RNW

ReNew Energy Global Plc • NASDAQ
$7.61 ▲ 0.26% (+0.02)
Market Cap $2.76 B
52w High $8.24
52w Low $5.42
Dividend Yield 0%
P/E 28.19
Volume 770.94K
Outstanding Shares 362.88M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q2-2025 $36.266B ▼ $11.878B ▼ $4.675B ▼ 12.891% ▼ $11.76 ▼ $27.197B ▼
Q1-2025 $38.998B ▲ $12.09B ▲ $5.131B ▲ 13.157% ▲ $14.14 ▲ $28.231B ▲
Q4-2024 $29.045B ▲ $9.275B ▲ $2.36B ▲ 8.125% ▲ $6.91 ▲ $21.074B ▲
Q3-2024 $18.472B ▼ $8.588B ▼ $-3.879B ▼ -20.999% ▼ $-10.7 ▼ $15.164B ▼
Q2-2024 $26.735B $9.044B $4.939B 18.474% $13.62 $25.292B

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q2-2025 $111.03B ▲ $1.015T ▲ $873.967B ▲ $122.133B ▲
Q1-2025 $89.785B ▲ $961.557B ▲ $825.606B ▼ $118.128B ▲
Q4-2024 $81.336B ▼ $959.799B ▲ $828.687B ▼ $112.602B ▲
Q3-2024 $86.113B ▲ $959.175B ▲ $833.245B ▲ $107.773B ▼
Q2-2024 $79.881B $930.728B $800.998B $112.431B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q2-2025 $5.587B ▼ $28.814B ▲ $-37.626B ▼ $14.858B ▲ $6.065B ▲ $-2.794B ▼
Q1-2025 $7.731B ▲ $11.876B ▼ $-14.761B ▼ $-4.262B ▲ $-7.147B ▼ $6.773B ▲
Q4-2024 $3.015B ▲ $19.008B ▲ $7.408B ▲ $-7.492B ▼ $18.937B ▲ $1.149B ▲
Q3-2024 $-2.946B ▼ $18.486B ▼ $-21.132B ▼ $6.143B ▲ $3.497B ▲ $-404M ▲
Q2-2024 $7.475B $20.158B $-19.985B $1.254B $1.427B $-450M

Revenue by Products

Product Q3-2021Q3-2023
Other Revenue
Other Revenue
 $60.00M ▲$350.00M ▲
Power
Power
 $58.99Bn ▲$76.62Bn ▲

Five-Year Company Overview

Income Statement

Income Statement ReNew has grown its revenue steadily over the past five years, showing that its portfolio of renewable projects is expanding and being used well. Core operating performance is solid, with healthy margins from its wind and solar assets, but profit at the bottom line has only recently turned positive after several years of losses. This pattern suggests a business that has been in heavy build-out mode, where depreciation, interest, and other non-operating costs have weighed on net income. The direction of travel is encouraging, yet profits are still relatively thin and could be sensitive to changes in power prices, financing costs, or regulation.

Balance Sheet

Balance Sheet The balance sheet shows a company that has scaled up aggressively: assets have almost doubled as ReNew has added projects and infrastructure. Most of this growth has been financed with debt, which means leverage is high and the business is quite reliant on ongoing access to capital markets and stable cash flows to meet interest and repayments. Equity has risen over time but at a slower pace than assets, so the financial structure leans heavily on borrowing. This creates both an opportunity for higher returns if projects perform well and a risk if there are delays, cost overruns, or changes in the policy environment.

Cash Flow

Cash Flow ReNew’s operations generate solid and growing cash from the day-to-day running of its plants, which is a key strength in an infrastructure-style business. However, the company is spending heavily on new projects and equipment, so cash going out for investment regularly exceeds cash coming in, leading to mostly negative free cash flow. This is typical of a company still in an expansion phase, but it also means continued dependence on lenders and possibly equity markets to fund growth. Over time, the balance between operating cash and investment needs will be important in judging the durability of the business model.

Competitive Edge

Competitive Edge ReNew holds a strong position in India’s renewable power market, with large scale, a long operating history, and end-to-end capabilities from project development to operations. Long-term power purchase agreements with government-backed and other creditworthy customers provide visibility on revenues and help smooth out market volatility. Its size, reputation, and ESG profile also help in attracting capital and winning large, complex projects. At the same time, it operates in a highly competitive, policy-driven sector where tariffs are under constant pressure and returns can tighten quickly if execution slips or regulations change.

Innovation and R&D

Innovation and R&D The company leans heavily on digital tools—such as AI, IoT, digital twins, and robotics—to squeeze more output and lower downtime from its wind and solar assets, which can make a meaningful difference over time. It is also pushing into newer areas like green hydrogen, energy storage, and in-house solar cell and module manufacturing, aiming to move up the value chain and diversify its revenue sources. ReNew is experimenting with intelligent energy solutions and carbon-market services that go beyond simply selling electricity, supported by collaborations with top academic institutions. These initiatives could strengthen its moat if executed well, but they also introduce technology, scale-up, and capital allocation risks.

Summary

Overall, ReNew looks like a fast-growing renewable energy platform that has moved from loss-making to modest profitability while building a very large asset base. The core business benefits from long-term contracts, growing demand for clean power, and a clear focus on digital efficiency and decarbonization solutions. The flip side is a balance sheet that is heavily debt-funded and a cash flow profile still dominated by large investment outlays, which makes disciplined project selection, execution, and refinancing crucial. Future performance will hinge on how well the company manages its leverage, delivers on big new ventures like green hydrogen and manufacturing, and maintains attractive returns in an increasingly competitive and policy-sensitive market.

NEWS

November 10, 2025 · 9:02 AM UTC

ReNew Announces Results for the Second Quarter for Fiscal Year 2026 (Q2 FY26), Ended September 30, 2025; Reports 84% Net Profit Increase YOY in H1 FY2026

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November 7, 2025 · 11:28 AM UTC

ReNew and Asian Development Bank Announce US$331 million Deal for a Large-Scale Renewable Energy Project in Andhra Pradesh

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November 3, 2025 · 8:00 AM UTC

ReNew Announces Date and Conference Call Details for Second Quarter FY26 Earnings

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October 28, 2025 · 10:39 AM UTC

ReNew Becomes India's Highest-Rated Energy Company in S&P Global's Corporate Sustainability Assessment

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