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ReNew Energy Global plc

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ReNew Energy Global plc • NASDAQ
$0.01 ▲ 0.00% (+0.00)
Market Cap $4.35 M
52w High $0.48
52w Low $0.01
Dividend Yield 0%
P/E -0.05
Volume 6.30K
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% ▼ $0 $27.197B ▼
Q1-2025 $38.998B ▲ $12.09B ▲ $5.131B ▲ 13.157% ▲ $0 $28.231B ▲
Q4-2024 $29.045B ▲ $9.275B ▲ $2.36B ▲ 8.125% ▲ $0 $21.074B ▲
Q3-2024 $18.472B ▼ $8.588B ▼ $-3.879B ▼ -20.999% ▼ $0 $15.164B ▼
Q2-2024 $26.735B $9.044B $4.939B 18.474% $0 $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 Revenue has been rising steadily over the last several years, and operating performance has generally improved along with it. Profitability at the operating level looks solid for a capital‑intensive utility, with a healthy spread between revenue and operating costs. However, bottom‑line net profit is still relatively thin and has only recently turned consistently positive after a period of losses, which suggests the business is still working through scale‑up costs, financing costs, and depreciation from rapid expansion. The overall picture is of a company that is growing quickly with improving economics, but with earnings that can still be sensitive to interest rates, project timing, and contract pricing.

Balance Sheet

Balance Sheet The balance sheet shows a large and growing asset base, reflecting continuous build‑out of renewable projects. This growth has been funded heavily with debt, which now sits at a high level relative to equity. That leverage is typical for infrastructure and utilities but does mean the company is more exposed to changes in interest rates, refinancing conditions, and any delays in cash inflows from projects. Cash on hand is modest compared with total obligations, so the business relies on steady operating cash flow and ongoing access to capital markets. Equity has been trending upward, but the capital structure is clearly debt‑heavy, which is a key risk to watch.

Cash Flow

Cash Flow Cash generation from day‑to‑day operations is strong and has been improving, which is a positive sign that the existing portfolio is performing well. At the same time, the company is spending heavily on new projects and equipment, leading to very large investment outflows. As a result, free cash flow has often been negative, not because the core business is weak, but because management is aggressively reinvesting for growth. This pattern is typical of a fast‑expanding renewable utility but implies ongoing dependence on external financing and careful management of project execution to ensure these investments eventually translate into stronger free cash flow.

Competitive Edge

Competitive Edge ReNew holds a leading position in India’s renewable power market, supported by its early entry, large operating scale, and broad mix of wind, solar, and hydro assets across many regions. Long‑term contracts with government and corporate buyers provide visibility on revenue and reduce volume risk, although they do not eliminate counterparty or regulatory risk. The company’s in‑house engineering and project execution capabilities, along with its digital operations platform, give it cost and reliability advantages versus more fragmented rivals. Competition remains intense, with many domestic and global players bidding for projects, and tariffs are often under pressure, so maintaining a cost edge and flawless execution is critical for sustaining this moat.

Innovation and R&D

Innovation and R&D Innovation is a clear focus. ReNew is pushing large hybrid projects that blend solar, wind, and battery storage to deliver more reliable, round‑the‑clock power—an important differentiator in a grid that struggles with intermittency. Its use of artificial intelligence and advanced analytics to monitor and maintain assets can squeeze more output and reduce downtime, enhancing returns on existing projects. Partnerships with top research institutions support ongoing R&D in next‑generation storage and renewable technologies. The company is also moving upstream into solar manufacturing and exploring green hydrogen and ammonia projects, which could open new growth avenues but carry high execution, technology, and policy risk, as many of these areas are still commercially young and unproven at large scale.

Summary

ReNew Energy Global combines strong growth, improving operating performance, and a leading position in India’s renewable sector with a balance sheet and cash‑flow profile that reflect heavy, ongoing investment. The core business appears operationally sound, with solid contracts and good cost control, but is highly capital‑intensive and funded largely by debt, making it sensitive to financing conditions and project execution risks. Its emphasis on hybrid projects, digital optimization, and early moves into green hydrogen and solar manufacturing position it well for long‑term energy transition trends, while also increasing strategic and technological uncertainty. Overall, this is a scale player in a structurally growing market, balancing meaningful opportunities with leverage, policy, and execution risks that need continued monitoring.