ReNew Announces Results for the Third Quarter of Fiscal 2026 (Q3 FY26) and Nine Months of Fiscal 2026, both ended December 31, 2025

Core Insights - ReNew Energy Global Plc reported significant growth in operational capacity and financial performance for Q3 FY26 and the first nine months of FY26, highlighting its position as a leading decarbonization solutions company [1] Operating Highlights - In Q3 FY26, the company commissioned 288 MWs, including 238 MWs of wind and 50 MWs of solar capacity, bringing total commissioned capacity to approximately 11.7 GWs [4] - The total portfolio as of December 31, 2025, consisted of approximately 19.2 GWs, with a year-over-year increase in commissioned capacity of 7% [5] Electricity Sold - Total electricity sold in Q3 FY26 was 5,077 million kWh, a 23.1% increase from Q3 FY25, with wind assets contributing 2,178 million kWh (up 52.2%) and solar assets contributing 2,812 million kWh (up 7.9%) [6][7] Financial Performance - Total income for Q3 FY26 was INR 31,372 million (US$ 349 million), up from INR 21,198 million (US$ 236 million) in Q3 FY25, driven by increased operational capacity and external sales from solar module and cell manufacturing [11] - Net loss for Q3 FY26 was reduced to INR 198 million (US$ 2 million) from INR 3,879 million (US$ 43 million) in Q3 FY25, primarily due to higher revenues and lower tax incidence [27] Adjusted EBITDA - Adjusted EBITDA for Q3 FY26 was INR 21,381 million (US$ 238 million), compared to INR 13,882 million (US$ 155 million) in Q3 FY25, reflecting improved operational efficiency [31] Cash Flow and Capital Expenditure - Cash generated from operating activities for Q3 FY26 was INR 22,649 million (US$ 252 million), an increase from INR 18,486 million (US$ 206 million) in Q3 FY25 [35] - Capital expenditure for Q3 FY26 was INR 24,957 million (US$ 278 million) for the commissioning of new projects [39] Guidance - The company revised its FY26 guidance, expecting to complete the construction of 1.8 to 2.4 GWs by the end of FY26, with anticipated external sales from solar module and cell manufacturing contributing INR 11-13 billion to Adjusted EBITDA [34]