Q2 2026 Renew Energy Global PLC Earnings Call Transcript
Key Points
- ReNew Energy Global PLC (RNW) reported a 24% year-on-year growth in adjusted EBITDA for the first half of fiscal year 2026, reaching INR53.5 billion.
- The company has commissioned over 2.1 gigawatts of renewable energy capacity since October of the previous year, marking a 22% growth in its portfolio.
- ReNew Energy Global PLC (RNW) has signed PPAs for 3.8 gigawatts of installed renewable energy capacity over the past four quarters, with expected returns at the higher end of their targeted IRR range.
- The company's manufacturing business contributed INR3.3 billion to adjusted EBITDA for the quarter, with a revised guidance of INR10 billion to INR12 billion for fiscal year 2026.
- ReNew Energy Global PLC (RNW) achieved a score of 83 in the S&P Global Corporate Sustainability Assessment, the highest ever by any Indian IPP, reflecting its strong ESG commitments.
- The company experienced subdued PLFs this quarter due to lower irradiation from an extended monsoon, resulting in a net negative impact of INR1.7 billion compared to last year.
- There was a decline in EBITDA margin for the solar manufacturing business, dropping to 33% in fiscal Q2 from 40% in Q1, attributed to lower realizations and revised procurement pricing.
- ReNew Energy Global PLC (RNW) faced curtailment issues in some projects in Rajasthan, resulting in a revenue impact of approximately INR100 crores in the first half.
- The company is facing challenges in the contracting environment, with uncertainties around the timing of PPA signings for its 25-gigawatt pipeline.
- There are concerns about potential cancellations of renewable tenders by the government, which could impact the 6 gigawatts of solar projects where LOAs have been awarded but PPAs have not been signed.
Thank you for standing by, and welcome to the ReNew second-quarter fiscal year '26 earnings report. (Operator Instructions)
I would now like to hand the conference over to Anunay Shahi, Head of IR. Please go ahead.
Thank you. Thank you. Good morning, everyone, and thank you for joining us today. We have put out a press release announcing results for fiscal 2026 second quarter and the half year ended September 30, 2025. A copy of the press release and the earnings presentation is available in the Investor Relations section on ReNew's website at www.renew.com.
With me today again are Sumant Sinha, our Founder, Chairman and CEO; Kailash Vaswani, the CFO; and Vaishali Nigam Sinha, Co-Founder, ReNew and Chairperson, Sustainability. After the prepared remarks, we expect -- which we expect will take close to half an hour, we will open the call for questions. As per usual, please note that our safe harbor statements are contained
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
