ReNew Announces Results for the Second Quarter of Fiscal 2027 (Q2 FY27) and First Half of Fiscal 2027 (H1 FY27), both ended September 30, 2026

Power sales and solar manufacturing revenue both increased in Q2 and H1 FY27, while full-year financial guidance remains unchanged.

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11/02/2026 - 04:00 PM EST

GURUGRAM, India--(BUSINESS WIRE)-- ReNew Energy Global Plc (“ReNew” or “the Company”) (Nasdaq: RNW, RNWWW), a leading decarbonization solutions company, today announced its unaudited consolidated IFRS results for Q2 FY27 and H1 FY27.

Operating Highlights:

As of September 30, 2026, the Company’s portfolio consisted of ~20.5 GW (including 1.7 GW/6.2 GWh of BESS). Additionally, ReNew has 6.4 GW of solar module and 2.5 GW of solar cell manufacturing capacities and is expanding its solar cells manufacturing capacity by another 4 GW, which is expected to commence commercial operations in Q4 FY27.
The Company’s commissioned capacity has increased 19.5% year-over-year to ~13.7 GW (including 100 MW/250 MWh of BESS) as of September 30, 2026. Subsequently, the Company commissioned 112 MW of solar, increasing commissioned capacity as of date to ~13.8 GW, net of the 100 MW sold as part of our capital recycling strategy.
Total Income (or total revenue) for H1 FY27 was INR 97,483 million (US$ 1,017 million), compared to INR 79,715 million (US$ 832 million) for H1 FY26. Net profit for H1 FY27 was INR 12,375 million (US$ 129 million) compared to INR 9,806 million (US$ 102 million) for H1 FY26. Adjusted EBITDA for H1 FY27 was INR 63,980 million (US$ 668 million), as against INR 53,459 million (US$ 558 million) for H1 FY26.
Total Income (or total revenue) for Q2 FY27 was INR 49,619 million (US$ 518 million), compared to INR 38,557 million (US$ 402 million) for Q2 FY26. Net profit for Q2 FY27 was INR 6,422 million (US$ 67 million) compared to INR 4,675 million (US$ 49 million) for Q2 FY26. Adjusted EBITDA for Q2 FY27 was INR 33,588 million (US$ 350 million), as against INR 26,240 million (US$ 274 million) in Q2 FY26.
Revenue from sale of power for H1 FY27 was INR 60,524 million (US$ 632 million) compared to INR 51,548 million (US$ 538 million) for H1 FY26. Revenue from sale of power for Q2 FY27 was INR 33,775 million (US$ 352 million), compared to INR 26,076 million (US$ 272 million) for Q2 FY26.
Total income (or total revenue) for H1 FY27 includes external sales from our solar module and cell manufacturing operations amounting to INR 29,239 million (US$ 305 million) compared to INR 23,351 million (US$ 244 million) for H1 FY26. Net profit and Adjusted EBITDA for H1 FY27 from external sales from our solar module and cell manufacturing operations were INR 6,572 million (US$ 69 million) and INR 9,732 million (US$ 102 million) compared to INR 5,767 million (US$ 60 million) and INR 8,621 million (US$ 90 million) for H1 FY26 respectively.
Total income (or total revenue) for Q2 FY27 from our solar module and cell manufacturing operations was INR 12,462 million (US$ 130 million) compared to INR 10,128 million (US$ 106 million) for Q2 FY26. Net profit and Adjusted EBITDA for Q2 FY27 from external sales from our solar module and cell manufacturing operations were INR 2,658 million (US$ 28 million) and INR 4,081 million (US$ 43 million) compared to INR 2,206 million (US$ 23 million) and INR 3,329 million (US$ 35 million) respectively for Q2 FY26.

FY 27 Guidance

The Company continues to expect to complete the construction of 1.6 to 2.4 GW by the fiscal year ending March 31, 2027 (“FY27”). The Company’s Adjusted EBITDA and Cash Flow to Equity guidance for FY27 are subject to weather and resource availability being similar to FY26. The Company continues to anticipate net gains from asset sales, which is part of ReNew’s capital recycling strategy, and has included INR 1–2 billion related to asset sales in the Adjusted EBITDA. The Company continues to expect external sales from our module and cell manufacturing operations and has included INR 12–14 billion of Adjusted EBITDA against such sales in this guidance.

Financial Year		Adjusted EBITDA		Cash Flow to equity (CFe)
FY27		INR 105 – INR 109 billion		INR 18 – INR 22 billion

Note: the translation of Indian rupees into U.S. dollars has been made at INR 95.83 to US$ 1.00. See note 1 for more information.

Webcast and Conference call information

The conference call can be accessed live at: https://edge.media-server.com/mmc/p/9ogsfmrq/ or by phone (toll-free) by dialing:
US/Canada: (+1) 855 881 1339
France: (+33) 0800 981 498
Germany: (+49) 0800 182 7617
Hong Kong: (+852) 800 966 806
India: (+91) 0008 0010 08443
Japan: (+81) 005 3116 1281
Singapore: (+65) 800 101 2785
Sweden: (+46) 020 791 959
UK: (+44) 0800 051 8245
Rest of the world: (+61) 7 3145 4010 (toll)
An audio replay will be available following the call on our investor relations website at https://investor.renew.com/news-events/events.

Notes:

This press release contains translations of certain Indian rupee amounts into U.S. dollars at specified rates solely for the convenience of the reader. Unless otherwise stated, the translation of Indian rupees into U.S. dollars has been made at INR 95.83 to US$ 1.00, which was the noon buying rate in New York City for cable transfer in non-U.S. currencies as certified for customs purposes by the Federal Reserve Bank of New York on September 30, 2026. We make no representation that the Indian rupee or U.S. dollar amounts referred to in this press release could have been converted into U.S. dollars or Indian rupees, as the case may be, at any particular rate or at all.

Forward Looking Statements

This release includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “estimate,” “objective,” “plan,” “project,” “forecast,” “intend,” “will,” “expect,” “anticipate,” “believe,” “seek,” “target,” “milestone,” “designed to,” “proposed” or other similar expressions that predict or imply future events, trends, terms and/or conditions or that are not statements of historical matters. Such forward-looking statements are based on current expectations and projections about future events and various assumptions. The Company cautions readers of this release that these forward-looking statements are subject to risks and uncertainties, most of which are difficult to predict and many of which are beyond the Company’s control, that could cause the actual results to differ materially from the expected results.

The Company’s most recent Annual Report on Form 20-F filed with the United States Securities and Exchange Commission (the “SEC”) on July 30, 2026 or Form 6-Ks furnished to the SEC by the Company outline certain of these risks and uncertainties which may cause actual results to differ. Forward-looking statements should be construed in light of such risk factors and undue reliance should not be placed on forward-looking statements. These forward-looking statements speak only as of the date of this release. The Company expressly disclaims any obligation or undertaking (except as required by applicable law) to release publicly any updates or revisions to any forward-looking statement contained herein to reflect any change in the Company’s expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.

About ReNew

Unless the context otherwise requires, all references in this press release to “we,” “us,” or “our” refers to ReNew and its subsidiaries.

ReNew is a leading decarbonization solutions company listed on Nasdaq (Nasdaq: RNW, RNWWW). ReNew’s clean energy portfolio of 20.5 GW (including 1.7 GW/6.2 GWh of BESS) on a gross basis as of October 30, 2026, is one of the largest globally. In addition to being a major independent power producer in India, we provide end-to-end solutions in a just and inclusive manner in the areas of clean energy, value-added energy offerings through digitalization, storage, and carbon markets that are increasingly integral to addressing climate change. In addition, ReNew has 6.4 GW of solar module and 2.5 GW of solar cell manufacturing capacities and is expanding its solar cells manufacturing capacity by another 4 GW, which is expected to be operational in Q4 FY26. For more information, visit www.renew.com and follow us on LinkedIn, Facebook, X, and Instagram.