ReNew Energy posts higher FY26 profit despite weaker Q4 earnings
ReNew Energy Global Plc reported a sharp rise in FY26 profitability, with net profit increasing to Rs 1,038.5 crore from Rs 459.1 crore in FY25, supported by higher revenues and strong growth in its manufacturing business.
Total income for FY26 rose 38% year-on-year (YoY) to Rs 15,063.5 crore, compared to Rs 10,907 crore in the previous fiscal.
However, quarterly performance remained mixed. Net profit for Q4 FY26 declined to Rs 777 crore from Rs 3,137 crore in Q4 FY25, despite total income increasing to Rs 3,954.8 crore from Rs 3,439.1 crore in the corresponding period last year.
As of March 31, 2026, ReNew’s total portfolio stood at around 20 GW, including 1.7 GW/6.2 GWh of battery energy storage systems (BESS), compared to around 17.3 GW a year earlier. Commissioned capacity increased 16.6% YoY to about 12.6 GW. The company said an additional 247 MW has since been commissioned, taking total commissioned capacity to around 12.8 GW.
The company’s manufacturing business recorded significant growth during FY26. External sales from solar module and solar cell operations increased to Rs 4,194.4 crore from Rs 1,325.3 crore in FY25. The manufacturing segment reported net profit of Rs 884.5 crore for the year, compared to Rs 262.3 crore in the previous fiscal.
Revenue from sale of power during Q4 FY26 stood at Rs 1,835.8 crore, slightly lower than Rs 1,841.4 crore recorded in Q4 FY25. On a full-year basis, power sale revenue increased to Rs 8,819.6 crore from Rs 8,160.6 crore in FY25.
ReNew also reported 6.4 GW of solar module manufacturing capacity and 2.5 GW of solar cell manufacturing capacity. The company expects an additional 4 GW of solar cell capacity to become operational by December 2026.
Looking ahead, ReNew expects to commission between 1.6 GW and 2.4 GW of new renewable energy capacity by the end of FY27.
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