ReNew Energy Global PLC (NAS:RNW)

Q4 2026 Renew Energy Global PLC Earnings Call Transcript

May 18, 2026 / 12:30 PM GMT

Release Date Price: $5.47 (+2.24%)

Transcript

Key Points

Positve

ReNew Energy Global PLC (RNW) achieved record profitability in fiscal 2026, with adjusted EBITDA of INR98.5 billion, exceeding the top end of their guidance.
The company reduced its net debt-to-EBITDA ratio by 1.1x year-on-year, improving its balance sheet and financial health.
ReNew Energy Global PLC (RNW) expanded its operating portfolio to approximately 12.8 gigawatts, representing a 25% year-on-year growth.
The manufacturing business contributed significantly to the company's growth, with INR14.8 billion EBITDA, and is expected to scale further with a new 4-gigawatt cell facility.
The company raised $375 million through asset monetization and fundraising, which was used to repay debt and strengthen the balance sheet.

Negative

Grid expansion has not kept pace with renewable energy installations, leading to some curtailment of projects, particularly in Rajasthan.
There was a slight decline in solar resource efficiency and some curtailment, impacting overall performance.
The DSM regulations could potentially impact the company financially if current guidelines continue without relaxation.
ReNew Energy Global PLC (RNW) faces challenges with transmission issues, which could constrain solar capacity additions.
The company is not currently considering an India listing, despite Indian peers trading at higher multiples, which may affect its market valuation.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

RNW.OQ - Renew Energy Global PLC
Q4 2026 Renew Energy Global PLC Earnings Call
May 18, 2026 / 12:30PM GMT

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Presentation
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Unidentified_1 [1]
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Good day and welcome to the Renew Energy Global fourth quarter of fiscal year 2026 conference call.

All participants will be in listen-only mode. Should you need assistance, please signal a conference specialist by pressing the star key followed by zero.

After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star and then one on your touchtone phone. To withdraw your question, please press star, then two.

Please note the Sedan is being recorded.

At this time, I would like to turn the conference over to Anu Shahi, Head of Investor Relations. Please go ahead.

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