Gurugram: ReNew Energy Global Plc announced its unaudited consolidated IFRS results for the second quarter of fiscal 2027 (Q2 FY27) and first half of fiscal 2027 (H1 FY27), both ended September 30, 2026.
The ReNew Energy Global Q2 FY27 results showed total income of INR 49,619 million (US$ 518 million), compared to INR 38,557 million (US$ 402 million) in Q2 FY26.
Net profit for Q2 FY27 stood at INR 6,422 million (US$ 67 million), compared to INR 4,675 million (US$ 49 million) in Q2 FY26.
Adjusted EBITDA for ReNew Energy Global Q2 FY27 was INR 33,588 million (US$ 350 million), compared to INR 26,240 million (US$ 274 million) in Q2 FY26.
ReNew Energy Global Q2 FY27 Operating Highlights
As of September 30, 2026, ReNew’s portfolio consisted of approximately 20.5 GW, including 1.7 GW/6.2 GWh of BESS.
The company also has 6.4 GW of solar module manufacturing capacity and 2.5 GW of solar cell manufacturing capacity.
ReNew is expanding its solar cell manufacturing capacity by another 4 GW, which is expected to commence commercial operations in Q4 FY27.
As part of the ReNew Energy Global Q2 FY27 operating performance, the company’s commissioned capacity increased 19.5% year-over-year to approximately 13.7 GW, including 100 MW/250 MWh of BESS, as of September 30, 2026.
Subsequently, ReNew commissioned 112 MW of solar capacity, increasing its commissioned capacity as of date to approximately 13.8 GW, net of the 100 MW sold as part of its capital recycling strategy.
ReNew Energy Global Q2 FY27 Revenue and Profit
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), compared to INR 53,459 million (US$ 558 million) for H1 FY26.
For ReNew Energy Global Q2 FY27, total income stood at INR 49,619 million (US$ 518 million), compared to INR 38,557 million (US$ 402 million) in Q2 FY26.
Net profit in Q2 FY27 was INR 6,422 million (US$ 67 million), compared to INR 4,675 million (US$ 49 million) in Q2 FY26.
Adjusted EBITDA was INR 33,588 million (US$ 350 million), compared to INR 26,240 million (US$ 274 million) in Q2 FY26.
ReNew Energy Global Q2 FY27 Power Sales Revenue
Revenue from the sale of power during H1 FY27 was INR 60,524 million (US$ 632 million), compared to INR 51,548 million (US$ 538 million) in H1 FY26.
For Q2 FY27, revenue from the sale of power stood at INR 33,775 million (US$ 352 million), compared to INR 26,076 million (US$ 272 million) in Q2 FY26.
The ReNew Energy Global Q2 FY27 results also included contributions from the company’s solar module and cell manufacturing operations.
Solar Module and Cell Manufacturing Performance
Total income, or total revenue, for H1 FY27 included external sales from ReNew’s 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 from external sales from the solar module and cell manufacturing operations was INR 6,572 million (US$ 69 million) in H1 FY27, compared to INR 5,767 million (US$ 60 million) in H1 FY26.
Adjusted EBITDA from external sales from the solar module and cell manufacturing operations was INR 9,732 million (US$ 102 million) in H1 FY27, compared to INR 8,621 million (US$ 90 million) in H1 FY26.
In ReNew Energy Global Q2 FY27, total income from the company’s solar module and cell manufacturing operations was INR 12,462 million (US$ 130 million), compared to INR 10,128 million (US$ 106 million) in Q2 FY26.
Net profit from external sales from the solar module and cell manufacturing operations was INR 2,658 million (US$ 28 million) in Q2 FY27, compared to INR 2,206 million (US$ 23 million) in Q2 FY26.
Adjusted EBITDA from external sales from these manufacturing operations stood at INR 4,081 million (US$ 43 million) in Q2 FY27, compared to INR 3,329 million (US$ 35 million) in Q2 FY26.
ReNew Energy Global Q2 FY27: FY27 Guidance
ReNew continues to expect to complete the construction of 1.6 GW to 2.4 GW by the fiscal year ending March 31, 2027 (FY27).
The company’s ReNew Energy Global Q2 FY27 update also maintained its FY27 guidance for Adjusted EBITDA and Cash Flow to Equity, subject to weather and resource availability being similar to FY26.
The company continues to anticipate net gains from asset sales, which are part of ReNew’s capital recycling strategy. The company has included INR 1–2 billion related to asset sales in its Adjusted EBITDA guidance.
ReNew also continues to expect external sales from its module and cell manufacturing operations and has included INR 12–14 billion of Adjusted EBITDA against such sales in its FY27 guidance.
ReNew FY27 Guidance
| Financial Year | Adjusted EBITDA | Cash Flow to Equity (CFe) |
|---|---|---|
| FY27 | INR 105–109 billion | INR 18–22 billion |
The ReNew Energy Global Q2 FY27 results and guidance cover the company’s renewable energy portfolio, manufacturing operations, asset sales and expected construction activity for FY27.
As of September 30, 2026, ReNew’s portfolio stood at approximately 20.5 GW, including 1.7 GW/6.2 GWh of BESS, while commissioned capacity stood at approximately 13.7 GW before the subsequent commissioning of 112 MW of solar capacity.
The company’s solar manufacturing footprint includes 6.4 GW of solar module capacity and 2.5 GW of solar cell capacity, with another 4 GW of solar cell manufacturing capacity under expansion and expected to commence commercial operations in Q4 FY27.
For ReNew Energy Global Q2 FY27, the company reported Q2 total income of INR 49,619 million, net profit of INR 6,422 million and Adjusted EBITDA of INR 33,588 million. For H1 FY27, total income was INR 97,483 million, net profit was INR 12,375 million and Adjusted EBITDA was INR 63,980 million.
The company continues to expect FY27 Adjusted EBITDA of INR 105–109 billion and Cash Flow to Equity of INR 18–22 billion.
Note: The translation of Indian rupees into U.S. dollars has been made at INR 95.83 to US$ 1.00.
