RNW

On August 18, ReNew Energy Global (NASDAQ:RNW) reported first-quarter fiscal 2027 results that arrived alongside a much bigger headline than any single quarter usually carries: a binding agreement to take the company private. The operating numbers told a familiar story of a renewable energy developer scaling its portfolio while wrestling with grid bottlenecks in India. But the deal announced on August 11, a $7.02-per-share cash offer from a consortium led by CPPIB and founder Sumant Sinha, is the piece shareholders are actually weighing right now. ReNew grew adjusted EBITDA 12% year over year to INR 30.4 billion, or $321 million, while net profit climbed 16% to INR 6 billion, or $63 million. Operating capacity reached 13.5 gigawatts, up 26% year over year once divested assets are stripped out, and the total portfolio now sits at 20.5 gigawatts including 1.7 gigawatts of battery storage. Collections improved too. After receiving INR 57 billion from the Andhra Pradesh DISCOM, days sales outstanding fell to 54 as of July 31, 2026, from 71 at the end of June. The company is also leaning on its relationships with large corporate buyers. Its commercial and industrial portfolio stands at 2.9 gigawatts, with Amazon, Microsoft, and Google together accounting for roughly half of the contracted offtake, and LeapFrog Investments recently put $95 million into an 11.3% stake in that business. Add a signed sale of 1.05 gigawatts of solar assets to Purvah Green Power for $191 million, and the picture is a company still finding buyers and partners willing to pay up for its assets, even as it prepares to go private. Not every line moved in the right direction. Manufacturing EBITDA margin contracted to 34% from 40% a year earlier, as management pointed to increased global supply and pricing pressure in solar equipment, and guided for further normalization in the back half of the year. Grid curtailment in Rajasthan, tied to delayed transmission build-out, pulled the solar plant load factor down to 22.4% from 24.6%, while wind load factor slipped slightly to 32.0% from 32.8%. The balance sheet carries real weight as well. Net debt stood at INR 697.1 billion, or $7.4 billion, putting leverage at 5.7 times adjusted EBITDA. Cash flow to equity actually fell to INR 12.8 billion from INR 15.3 billion, a decline management attributed to higher interest payments and scheduled loan repayments. None of this derails the growth story, but it is the kind of detail that matters more, not less, once a buyout is on the table and financing terms come under scrutiny. Hedge fund ownership rose from 21 funds to 23 in the most recent count, a modest but real uptick in institutional interest. Short interest sits at just 2.03% of float, suggesting little organized skepticism about where the stock trades from here. As of August 26, the forward P/E of 21.98 reflects a market that has already priced in a fair amount of the growth ReNew is delivering. ReNew heads into the rest of fiscal 2027 with a business that is growing on nearly every operating metric, from capacity to earnings to collections, while still carrying the debt load and margin pressure that come with building infrastructure at scale. The take-private offer adds a layer that operating results alone cannot answer: whether $7.02 a share properly values a company still expanding its manufacturing footprint and its hyperscaler relationships. While we acknowledge the potential of RNW as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 10 Best Future Stocks to Buy Under $10 and 12 Best Performing Semiconductor Stocks to Invest In. Disclosure: None. Follow Insider Monkey on Google News.

This article first appeared on GuruFocus. Total Income: INR47.9 billion for Q1 FY27. Revenue: INR44.6 billion for Q1 FY27, up 14% year-over-year. Adjusted EBITDA: INR30.4 billion for Q1 FY27, up 12% year-over-year, including INR5.7 billion from manufacturing. Profit After Tax (PAT): INR6 billion for Q1 FY27, up 16% year-over-year. Profit Before Tax: Approximately INR8.3 billion for Q1 FY27. Adjusted EBITDA Margins: 86% for IPP business, 34% for manufacturing, and 66.1% on a consolidated basis. Manufacturing Revenue (External Sales): INR16.4 billion in Q1 FY27. Manufacturing Adjusted EBITDA (External Sales): INR5.7 billion in Q1 FY27. Cash Flow to Equity (CFE): INR12.8 billion in Q1 FY27. Operating Capacity: 13.5 gigawatts as of June 30, 2026, up 26% year-over-year adjusted for asset sales. Total Committed Portfolio: 20.5 gigawatts, including 1.7 gigawatts of BES. Net Debt: Approximately INR671 billion as of June 30, 2026. Gross Debt: INR786 billion as of June 30, 2026. Cash and Cash Equivalents: INR89 billion as of June 30, 2026. Days Sales Outstanding (DSO): 71 days as of June 30, 2026, improving to 54 days as of July end. FY27 Guidance: Consolidated adjusted EBITDA of INR103 billion to INR109 billion, including INR10 billion to INR12 billion from manufacturing and INR1 billion to INR2 billion from asset sales. FY27 Construction Guidance: 1.6 to 2.4 gigawatts. FY27 Cash Flow to Equity Guidance: INR18 billion to INR22 billion. Warning! GuruFocus has detected 7 Warning Signs with RNW. Is RNW fairly valued? Test your thesis with our free DCF calculator. Release Date: August 18, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Delivered 26% YoY growth in operating portfolio, commissioning over 1 GW in FY27 YTD, including 600 MW in Q1. Adjusted EBITDA grew 12% YoY to INR30.4 billion, with PAT up 16% YoY to INR6 billion. Capital recycling executed successfully: closed sale of 100 MW solar asset and signed definitive agreements for ~1 GW sale expected to generate $190 million cash flow to equity. Manufacturing business delivered strong Q1 with INR5.7 billion adjusted EBITDA at 34% margin, supported by an external order book of ~1.1 GW. DSO improved significantly to 54 days as of July end, down 17 days from Q1 FY27, aided by INR57 billion receipt from Andhra Pradesh Discom. C&I portfolio expanded to 2.9 GW, with 330 MW commissioned YTD, and strong relationships with hyperscalers like Amazon, Microsoft, and Google. Reiterated FY27 guidance with adjusted EBITDA of INR103-109 billion and cash flow to equity of INR18-22 billion, reflecting confidence in execution. Grid curtailment challenges, particularly in Rajasthan, negatively impacted solar PLF, with about half of the decline attributed to curtailment. Solar PLF declined 220 basis points YoY in Q1, partly due to weather and partly due to curtailment, affecting generation. Manufacturing margins contracted to 34% from 40% YoY, with expectations of further normalization as new capacity comes online. Uncertainty in manufacturing profitability due to ALMM extension and increased supply, leading to conservative full-year guidance. Net debt remains high at INR671 billion, with leverage at 5.7x for operational projects, though management is committed to reducing it. Take-private transaction introduces uncertainty, with completion expected only by Q1 2027 and subject to regulatory approvals. Curtailment compensation for non-availability of transmission is not guaranteed, with discussions ongoing but no conclusion yet. Q: What is the expected timeline for the take-private transaction, and what are the key remaining milestones and potential uncertainties?A: Kailash Vaswani (CFO) stated the scheme is anticipated to become effective in Q1 2027. The scheme document will be published after the SEC review process, with regulatory approvals sought in parallel taking around three to four months. The long-stop date for completion is 95 days after the publication of the scheme circular or March 31, 2027, though he stressed this is not formal guidance. Q: How much of the solar PLF decline in Q1 was due to solar resource versus grid curtailment, and will curtailment persist?A: Kailash Vaswani (CFO) attributed the decline roughly half to curtailment and half to weather patterns (more cloudy days). He noted the company is pursuing advocacy for compensation on non-availability of transmission networks, as the curtailment is not their fault. Q: Is the FY27 manufacturing EBITDA guidance of INR10-12 billion conservative given the strong Q1 contribution of INR5.7 billion?A: Kailash Vaswani (CFO) explained the guidance reflects caution due to declining margins (from 40% to 34% year-over-year), the ALMM extension granted after Q1, and new production capacity coming online. He indicated they may revisit the numbers at Q2 results if strong performance continues. Q: Is there a mechanism for compensation for curtailment beyond the standard "must-run" status, and what is the status of those discussions?A: Sumant Sinha (CEO) clarified that while compensation exists for must-run curtailment, there is no specific mechanism for other PG&A curtailment. He confirmed ongoing discussions with the Ministry of Power (MOP) about potential compensation, but no conclusion has been reached yet. Q: What is the current installed BESS capacity, and is there a plan to build merchant BESS projects?A: Sumant Sinha (CEO) stated the company has a couple of hundred MWh commissioned. He explained that long-term merchant BESS is difficult due to market uncertainty over 5-7 years, but they plan to commission some BESS projects earlier as merchant assets to capture near-term arbitrage opportunities, then drop them into existing PPAs as those projects come online. Q: Is there a target for merchant BESS commissioning in FY27 or FY28?A: Sumant Sinha (CEO) said no specific target has been set. Commissioning this year is unlikely, but they hope to commission some by next year and will provide updates once plans are finalized. Q: What EBITDA multiple was achieved on the recent sale of ~1 GW of assets?A: Kailash Vaswani (CFO) declined to disclose the multiple, citing an NDA with the buyer. He stated they will agree on joint disclosure with the buyer after closing. Q: Is the hydro plant a potential saleable asset as part of the capital recycling strategy?A: Kailash Vaswani (CFO) confirmed that as part of their asset review process, they evaluate sales of various assets, and the hydro plant could be part of such discussions. For the complete transcript of the earnings call, please refer to the full earnings call transcript.

GURUGRAM, India, August 18, 2026--(BUSINESS WIRE)--ReNew Energy Global Plc ("ReNew", "the Company", "we" or "our") (Nasdaq: RNW, RNWWW), a leading decarbonization solutions company, today announced its unaudited consolidated IFRS results for Q1 FY27. Operating Highlights: As of June 30, 2026, the Company’s portfolio consisted of ~20.5 GW (including 1.7 GW/6.2 GWh of BESS). Additionally, ReNew has 6.4 GW of solar module and 2.5 GW of solar cell manufacturing capacities and is expanding its solar cells manufacturing capacity by another 4 GW, which is expected to be operational by December 2026. The Company’s commissioned capacity has increased 17% year-over-year to ~13.1 GW (including 100 MW/250 MWh of BESS) as of June 30, 2026. Subsequently, the Company commissioned 466 MW of solar, increasing commissioned capacity as of date to ~13.5 GW, net of the 100 MW sold as part of our capital recycling strategy. Total Income (or total revenue) for Q1 FY27 was INR 47,864 million (US$ 506 million), compared to INR 41,182 million (US$ 435 million) for Q1 FY26. Net profit for Q1 FY27 was INR 5,953 million (US$ 63 million), compared to INR 5,131 million (US$ 54 million) for Q1 FY26. Adjusted EBITDA for Q1 FY27 was INR 30,392 million (US$ 321 million), compared to INR 27,220 million (US$ 288 million) in Q1 FY26. Revenue from the sale of power for Q1 FY27 was INR 26,749 million (US$ 283 million), compared to INR 25,473 million (US$ 269 million) for Q1 FY26. Total Income (or total revenue) for Q1 FY27 from external sales of our solar module and cell manufacturing operations was INR 16,777 million (US$ 177 million), compared to INR 13,223 million (US$ 140 million) for Q1 FY26. Net profit and Adjusted EBITDA for Q1 FY27 from external sales of our solar module and cell manufacturing operations were INR 3,914 million (US$ 41 million) and INR 5,651 million (US$ 60 million) respectively, compared to INR 3,562 million (US$ 38 million) and INR 5,292 million (US$ 56 million) respectively for Q1 FY26. FY 27 Guidance The Company continues to expect to complete the construction of 1.6 to 2.4 GW by the fiscal year ending March 31, 2027 ("FY27"). The Company’s Adjusted EBITDA and Cash Flow to Equity guidance for FY27 are subject to weather and resource availability being similar to FY26. The Company continues to anticipate net gains from asset sales, which is part of ReNew’s capital recycling strategy, and has included INR 1–2 billion related to asset sales in the Adjusted EBITDA. The Company continues to expect external sales from our module and cell manufacturing operations and has included INR 10–12 billion of Adjusted EBITDA against such sales in this guidance. Note: the translation of Indian rupees into U.S. dollars has been made at INR 94.66 to US$ 1.00. See note 1 for more information. Webcast and Conference call information The conference call can be accessed live at: https://edge.media-server.com/mmc/p/rx78ue9j/ or by phone (toll-free) by dialing:US/Canada: (+1) 855 881 1339France: (+33) 0800 981 498Germany: (+49) 0800 182 7617Hong Kong: (+852) 800 966 806India: (+91) 0008 0010 08443Japan: (+81) 005 3116 1281Singapore: (+65) 800 101 2785Sweden: (+46) 020 791 959UK: (+44) 0800 051 8245Rest of the world: (+61) 7 3145 4010 (toll)An audio replay will be available following the call on our investor relations website at https://investor.renew.com/news-events/events. Notes: This press release contains translations of certain Indian rupee amounts into U.S. dollars at specified rates solely for the convenience of the reader. Unless otherwise stated, the translation of Indian rupees into U.S. dollars has been made at INR 94.66 to US$ 1.00, which was the noon buying rate in New York City for cable transfer in non-U.S. currencies as certified for customs purposes by the Federal Reserve Bank of New York on June 30, 2026. We make no representation that the Indian rupee or U.S. dollar amounts referred to in this press release could have been converted into U.S. dollars or Indian rupees, as the case may be, at any particular rate or at all. Forward Looking Statements This release includes "forward-looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as "estimate," "objective," "plan," "project," "forecast," "intend," "will," "expect," "anticipate," "believe," "seek," "target," "milestone," "designed to," "proposed" or other similar expressions that predict or imply future events, trends, terms and/or conditions or that are not statements of historical matters. Such forward-looking statements are based on current expectations and projections about future events and various assumptions. The Company cautions readers of this release that these forward-looking statements are subject to risks and uncertainties, most of which are difficult to predict and many of which are beyond the Company’s control, that could cause the actual results to differ materially from the expected results. The Company’s most recent Annual Report on Form 20-F filed with the United States Securities and Exchange Commission (the "SEC") or Form 6-Ks furnished to the SEC by the Company outline certain of these risks and uncertainties which may cause actual results to differ. Forward-looking statements should be construed in light of such risk factors and undue reliance should not be placed on forward-looking statements. These forward-looking statements speak only as of the date of this release. The Company expressly disclaims any obligation or undertaking (except as required by applicable law) to release publicly any updates or revisions to any forward-looking statement contained herein to reflect any change in the Company’s expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based. About ReNew Unless the context otherwise requires, all references in this press release to "we," "us," or "our" refers to ReNew and its subsidiaries. ReNew is a leading decarbonization solutions company listed on Nasdaq (Nasdaq: RNW, RNWWW). ReNew’s clean energy portfolio of 20.5 GW (including 1.7 GW/6.2 GWh of BESS) on a gross basis as of August 18, 2026, is one of the largest globally. In addition to being a major independent power producer in India, we provide end-to-end solutions in a just and inclusive manner in the areas of clean energy, value-added energy offerings through digitalization, storage, and carbon markets that are increasingly integral to addressing climate change. In addition, ReNew has 6.4 GW of solar module and 2.5 GW of solar cell manufacturing capacities and is expanding its solar cells manufacturing capacity by another 4 GW, which is expected to be operational by December 2026. For more information, visit www.renew.com and follow us on LinkedIn, Facebook, X, and Instagram. View source version on businesswire.com: https://www.businesswire.com/news/home/20260818877993/en/ Contacts Press Enquiries [email protected] Investor Enquiries Anunay Shahi, Nitin Vaid | [email protected]

Interested in ReNew Energy Global PLC? Here are five stocks we like better. Strong quarterly growth: ReNew reported INR47.9 billion in total income, a 12% year-over-year increase in adjusted EBITDA to INR30.4 billion and a 16% rise in profit after tax to INR6 billion. Management maintained fiscal 2027 guidance for INR103 billion–INR109 billion in adjusted EBITDA. Capacity expansion continues despite grid constraints: ReNew commissioned more than 1 gigawatt year to date, bringing its committed portfolio to about 20.5 gigawatts. However, solar output was hurt by grid curtailment and cloudier weather, particularly in Rajasthan. Capital recycling and take-private proposal advance: The company agreed to sell more than 1 gigawatt of assets for an expected $190 million in cash flow to equity and is pursuing a proposed take-private transaction offering non-consortium shareholders $7.02 per share, subject to shareholder and regulatory approval. Spark up your portfolio with the top energy stock: ReNew Energy ReNew Energy Global (NASDAQ:RNW) reported first-quarter fiscal 2027 results marked by growth in operating capacity, adjusted EBITDA and profit after tax, while management said grid constraints in India affected solar performance and remain an industrywide challenge. Founder, Chairman and CEO Sumant Sinha said the company commissioned more than 1 gigawatt of capacity year to date, including more than 600 megawatts during the first quarter. ReNew’s committed portfolio stood at approximately 20.5 gigawatts, including 1.7 gigawatts of battery energy storage systems, while its broader pipeline totaled about 27 gigawatts. → AMG’s Alternatives Boom Powers Record Growth “We continue to deliver on our promise of profitable growth” despite macroeconomic uncertainty and grid-related challenges in India, Sinha said. For the quarter, ReNew reported total income of INR47.9 billion and revenue of INR44.6 billion. Adjusted EBITDA rose 12% year over year to INR30.4 billion, while profit after tax increased 16% to INR6 billion. → Microsoft's Maia 300 Chip Targets NVIDIA's AI Dominance The company said adjusted EBITDA included INR24.7 billion from its independent power producer business and INR5.7 billion from external manufacturing sales. The IPP business recorded an adjusted EBITDA margin of 86%, while the manufacturing business posted a margin of nearly 34%. ReNew reiterated its fiscal 2027 consolidated adjusted EBITDA guidance of INR103 billion to INR109 billion. That forecast includes INR10 billion to INR12 billion from manufacturing and INR1 billion to INR2 billion from asset sales. Management also maintained expectations to construct 1.6 gigawatts to 2.4 gigawatts during the fiscal year and generate INR18 billion to INR22 billion of cash flow to equity. → The Metals Company’s Big Bet Now Comes Down to a License Chief Financial Officer Kailash Vaswani said manufacturing margins had begun to contract, declining from 40% in the prior-year first quarter to 34% this quarter. He cited uncertainty related to extensions in the implementation of ALMM requirements for cells and additional production capacity entering the market. The company did not raise its manufacturing outlook, though Vaswani said ReNew could revisit guidance following its second-quarter results if strong performance continues. Management said grid build-out has remained a constraint, particularly for projects in Rajasthan with temporary connectivity arrangements. Vaswani said solar curtailment contributed materially to a year-over-year decline in solar plant load factor during the quarter, along with cloudier weather conditions. In response to an analyst question, Vaswani estimated the decline was split roughly evenly between curtailment and weather-related impacts. ReNew is pursuing discussions regarding compensation for transmission-related constraints. Sinha said the company is compensated for transmission-down curtailment, but there is no specific established compensation mechanism for other grid-related curtailment. ReNew is discussing the issue with India’s Ministry of Power, although he said there was no conclusion yet and that full compensation was not expected. Management said it expects grid issues to improve over the coming months with the build-out of certain transmission lines in Rajasthan and potential central government support. ReNew continued its capital-recycling efforts during the period. In June 2026, the company closed the sale of a 100-megawatt Tamil Nadu solar asset. In August, it signed definitive agreements to sell more than 1 gigawatt of assets, a transaction expected to generate $190 million of cash flow to equity upon closing, including certain contingent change-in-law proceeds. As of June 30, ReNew had INR89 billion in cash, bank balances, investments and short-term investments. Gross debt was INR786 billion and net debt was approximately INR671 billion. Net debt to trailing-12-month adjusted EBITDA for operational projects was 5.7 times, according to the company. ReNew’s IPP days sales outstanding were 71 days at quarter-end. Following the quarter, the company received INR5.7 billion from Andhra Pradesh in July, reducing IPP DSO to approximately 54 days by the end of that month. Manufacturing DSO stood at roughly five days. Vaswani also addressed the proposed take-private transaction announced Aug. 11, under which ReNew entered a binding agreement with a consortium comprising CPP Investments and Sinha. Non-consortium shareholders may receive $7.02 per share in cash or, subject to conditions, elect to roll over their holdings and remain shareholders. The special committee of independent directors intends to unanimously recommend that shareholders vote in favor of the scheme, Vaswani said, after receiving a fairness opinion from Rothschild & Co. The transaction is expected to be implemented through a U.K. scheme of arrangement and remains subject to shareholder and regulatory processes. Vaswani said the company anticipated the scheme becoming effective in the first quarter of 2027, while emphasizing that timing is not guidance. ReNew said its manufacturing operations have 6.5 gigawatts of module capacity and 2.5 gigawatts of cell capacity currently operational. Its 4-gigawatt TOPCon cell plant is expected to be fully operational by the end of the current fiscal year, with the first cell anticipated by the end of the current calendar year. The company is also developing an ingot-wafer facility in Andhra Pradesh that is expected to be commissioned in early calendar 2028. The external manufacturing order book stood at about 1.1 gigawatts. ReNew said 40% to 60% of its manufacturing output is sold internally to its IPP business at arm’s-length prices, which is eliminated in consolidated financial reporting. On battery storage, Sinha said ReNew has a couple hundred megawatt-hours commissioned. The company does not currently intend to make long-term merchant storage commitments because of uncertainty around returns over a five- to seven-year period. Instead, it may operate certain batteries in merchant markets for one to two years to capture expected differences between daytime and evening power prices before placing them into existing power-purchase agreements. ReNew Energy Global PLC is an independent power producer specializing in the development, construction, ownership and operation of utility-scale renewable energy projects. Headquartered in Gurugram, India, the company focuses on onshore wind farms, solar photovoltaic plants and hybrid energy systems, often paired with battery energy storage to enhance grid stability and dispatch flexibility. ReNew Energy Global markets electricity under long-term power purchase agreements, serving utilities, distribution companies and corporate offtakers. The company’s core business activities encompass site identification, project design, procurement, construction management and ongoing asset management. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "ReNew Energy Global Q1 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for August 2026.

Our analysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Tap here. Achieved 26% year-over-year growth in the operating portfolio, reaching 13.5 GW, driven by disciplined execution and over 1 GW of new commissions year-to-date. Reported a 12% increase in adjusted EBITDA, bolstered by a significant INR 5.7 billion contribution from the manufacturing business, which saw its margin contract from 40% in the previous year to 34%. Demonstrated asset quality and capital recycling capabilities through the sale of a 100 MW solar asset and definitive agreements for an additional 1 GW of capacity. Improved liquidity and working capital efficiency, with DSOs dropping to 54 days by July 2026 following substantial collections from the Andhra Pradesh DISCOM. Navigated grid-related challenges in Rajasthan, where temporary connectivity issues led to curtailment, impacting solar plant load factors alongside unfavorable weather patterns. Maintained a disciplined capital allocation strategy, focusing on high-return opportunities while managing a net debt to EBITDA leverage of 5.7x for operational projects. Reiterated FY '27 adjusted EBITDA guidance of INR 103 billion to INR 109 billion, assuming normal weather patterns and specific contributions from manufacturing and asset sales. Anticipates the completion of the 4 GW TOPCon cell facility by the end of the current fiscal year, with the first cell production expected by calendar year-end. Expects the proposed take-private transaction by CPPIB and Sumant Sinha to become effective in Q1 2027, pending SEC review and regulatory approvals. Projects a normalization of manufacturing margins in the second half of the fiscal year as additional industry cell capacity comes online and ALMM extensions impact the market. Plans to commission between 1.6 to 2.4 GW of new capacity during FY '27, supported by secured supply chains for modules, wind turbines, and battery storage components. The proposed take-private transaction offers non-consortium shareholders $7.02 per share in cash or a conditional rollover option, supported by a fairness opinion from Rothschild & Co. Grid curtailment in Rajasthan remains a primary operational headwind; management is actively engaging with the Ministry of Power to seek compensation for transmission non-availability. The manufacturing business faces potential margin compression due to the extension of the Approved List of Models and Manufacturers (ALMM) for cells until December 31, 2026. Asset recycling remains a core strategy to reduce overall leverage, with the pending 1 GW sale expected to generate $190 million in cash flow to equity upon closing. One stock. Nvidia-level potential. 30M+ investors trust Moby to find it first. Get the pick. Tap here. Management expects the scheme to become effective in Q1 2027, with a long-stop date for completion set for March 31, 2027. Key milestones include the SEC review process, publication of the scheme document, and parallel regulatory approvals expected to take 3 to 4 months. The 220 basis point decline in solar PLF was attributed roughly 50/50 to grid curtailment and unfavorable weather (cloudy days). Management is pursuing advocacy for compensation regarding transmission-related curtailment, though no formal mechanism currently exists for non-state-specific grid issues. Q1 manufacturing margins were 34%, down from 40% in the prior year; management expects further normalization as supply increases. Guidance remains unchanged despite a strong Q1 to account for market uncertainty following the ALMM extension for cells. Management is cautious about long-term merchant BESS due to market uncertainty but plans to utilize BESS in merchant mode for 1-2 years to capture price arbitrage. These BESS projects will eventually be integrated into existing Power Purchase Agreements (PPAs) as those projects reach commissioning.

Constellation Energy Corporation (CEG) came out with quarterly earnings of $2.55 per share, beating the Zacks Consensus Estimate of $2.36 per share. This compares to earnings of $1.91 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of +8.05%. A quarter ago, it was expected that this company would post earnings of $2.56 per share when it actually produced earnings of $2.74, delivering a surprise of +7.03%. Over the last four quarters, the company has surpassed consensus EPS estimates three times. Constellation Energy Corporation, which belongs to the Zacks Alternative Energy - Other industry, posted revenues of $7.5 billion for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 0.48%. This compares to year-ago revenues of $6.1 billion. The company has topped consensus revenue estimates four times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Constellation Energy Corporation shares have lost about 25% since the beginning of the year versus the S&P 500's gain of 12.8%. While Constellation Energy Corporation has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for Constellation Energy Corporation was unfavorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #4 (Sell) for the stock. So, the shares are expected to underperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $3.79 on $8.59 billion in revenues for the coming quarter and $11.72 on $35.57 billion in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Alternative Energy - Other is currently in the bottom 34% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. ReNew Energy Global PLC (RNW), another stock in the same industry, has yet to report results for the quarter ended June 2026. This company is expected to post quarterly earnings of $0.12 per share in its upcoming report, which represents a year-over-year change of -25%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. ReNew Energy Global PLC's revenues are expected to be $451.3 million, down 6% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Constellation Energy Corporation (CEG) : Free Stock Analysis Report ReNew Energy Global PLC (RNW) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Track your investments for FREE with Simply Wall St, the portfolio command center trusted by over 7 million individual investors worldwide. ReNew Energy Global (RNW) has drawn fresh attention after reporting its strongest fiscal year to date, with total income and net income more than doubling, and around 2.4 GW of new renewable capacity commissioned. See our latest analysis for ReNew Energy Global. Despite record FY26 results and a 1 month share price return of 7.21%, ReNew Energy Global’s share price is down 8.70% year to date and the 1 year total shareholder return is down 22.24%. This suggests recent earnings strength has yet to shift longer term sentiment. If strong renewable build outs have your attention, this can be a useful moment to widen your search and hunt for opportunities using Simply Wall St’s 35 power grid technology and infrastructure stocks With earnings and capacity hitting record levels, yet multiyear returns still weak, the key question now is whether ReNew Energy Global’s recent strength is undervalued by the market or if the stock already reflects future growth. ReNew Energy Global’s most followed narrative pegs fair value at $7.87 per share, versus a last close of $5.35. This frames the current valuation gap around future earnings power, margin assumptions and a specific discount rate. Read the complete narrative. Want to see what is backing that higher fair value? The narrative leans on compounded revenue growth, firmer margins and a future earnings multiple that needs careful scrutiny. The full breakdown shows how those moving parts line up over several years. Result: Fair Value of $7.87 (UNDERVALUED) Have a read of the narrative in full and understand what's behind the forecasts. However, this hinges on execution. Fiercer bidding that compresses project returns, or weaker manufacturing margins as conditions normalize, could quickly challenge that 32% undervalued case. Find out about the key risks to this ReNew Energy Global narrative. With sentiment clearly split between risks and rewards, this is the moment to move quickly, review the facts for yourself, and weigh both sides using the 4 key rewards and 1 important warning sign. If you stop with just one stock, you could miss opportunities that fit your style better. Put the Simply Wall St screener to work for you today. Target consistent income potential by scanning for stocks that match your yield needs using the 12 dividend fortresses Spot potential mispricings fast and see which companies combine quality fundamentals with attractive pricing through the 54 high quality undervalued stocks Prioritize resilience by filtering for companies with stronger financial footing using the solid balance sheet and fundamentals stocks screener (46 results) This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include RNW. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email [email protected]

Our analysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Tap here. Achieved record adjusted EBITDA of INR 98.5 billion and a 2.3x increase in profit after tax, driven by strong project execution and the scaling of the manufacturing business. Successfully reduced net debt to EBITDA by 1.1x year-on-year through disciplined capital recycling and a record $375 million fundraise. Strategically transitioned the portfolio toward solar and battery energy storage (BESS) to improve execution timelines, enhance cash flow predictability, and reduce capital intensity compared to wind. The C&I business grew 7x over five years, with nearly 50% of capacity now tied to high-growth technology companies and hyperscalers. Manufacturing has evolved into a self-funded growth engine, contributing 15% of consolidated adjusted EBITDA and providing critical supply chain security amid domestic sourcing mandates. Performance was partially tempered by grid expansion delays in Rajasthan, which led to some resource curtailment during the fiscal year. Improved the receivables position significantly following a favorable Supreme Court order regarding overdue Andhra Pradesh payments, which previously constituted over 50% of overdue days. FY 2027 adjusted EBITDA is projected between INR 103 billion and INR 109 billion, assuming continued core business growth despite moderating manufacturing margins. Plans to commission a 4 gigawatt cell facility by the end of the fiscal year to capitalize on ALMM-2 domestic sourcing mandates starting June 2026. Announced a new 6.5 gigawatt ingot and wafer plant for 2028 to capture higher-margin upstream segments, funded via internal accruals and external raises without parent equity. Guidance assumes the construction of 1.6 to 2.4 gigawatts of new capacity and cash flow to equity between INR 18 billion and INR 22 billion. Management expects power demand to increase meaningfully due to El Niño effects and a push for energy security following geopolitical volatility in the Middle East. Grid expansion lag remains a headwind, with management expecting continued curtailment impacts through the first half of the upcoming fiscal year. The pivot to solar-plus-BESS configurations reduced projected CapEx by INR 60 billion while only impacting EBITDA by INR 7 billion, significantly lowering the risk profile. Foreign exchange exposure is 90% hedged for principal and 100% for interest, limiting the impact of a 10% rupee depreciation to only 30 basis points on interest costs. Potential tightening of Deviation Settlement Mechanism (DSM) regulations by the CRC could pose a INR 0.5 billion impact in FY 2027, though management anticipates regulatory relaxation. One stock. Nvidia-level potential. 30M+ investors trust Moby to find it first. Get the pick. Tap here. The 6.5 gigawatt wafer plant is expected to be commissioned around June 2028 and will not contribute to financials in FY 2027 or FY 2028. Total CapEx for the facility is approximately INR 42 billion, to be funded by 50-60% project debt and the remainder through manufacturing cash flows and external fundraising. Management has already secured $400 million in commitments toward the $1 billion due in early 2027. The remaining balance will be addressed through a mix of dollar bonds or onshore liquidity depending on which offers the lowest cost of capital. Lower solar Plant Load Factors (PLF) were attributed to a combination of slightly lower resource efficiency and grid curtailment issues. While curtailment eased in Q4, it remains a factor in near-term projections. Management acknowledged that Indian peers trade at higher multiples than ReNew's U.S. listing. Despite this observation, there are currently no plans to pursue a listing in India.

Spark up your portfolio with the top energy stock: ReNew Energy ReNew Energy Global (NASDAQ:RNW) reported what executives described as its strongest fiscal year to date, citing record profitability, expanded operating capacity, lower leverage and growth in its manufacturing and commercial and industrial businesses. On the company’s fiscal fourth-quarter and full-year 2026 earnings call, Founder, Chairman and CEO Sumant Sinha said ReNew’s operating portfolio reached approximately 12.8 gigawatts, up 25% year over year after adjusting for asset sales. The company commissioned 2.4 gigawatts during the year, its highest annual total, and its committed portfolio now stands at 20.2 gigawatts, including 1.7 gigawatts of battery energy storage systems. ReNew’s broader pipeline, including projects where it has won auctions but not yet signed power purchase agreements, exceeds 26 gigawatts, Sinha said. → 3 Crucial Aerospace Component Makers That Analysts Love Sinha framed the company’s performance against a backdrop of rising energy security concerns in India, where the country remains heavily dependent on energy imports. He said geopolitical tensions in the Middle East and rising domestic power demand have reinforced the importance of renewable energy as a domestic source of power. India installed 51 gigawatts of renewable capacity in fiscal 2026, the highest annual total to date, accounting for 90% of new capacity additions, Sinha said. Solar remained the main growth driver, while increasing power demand during non-solar hours is supporting adoption of battery storage and hybrid projects. → 3 Stocks to Own If Gas Prices Keep Rising ReNew delivered adjusted EBITDA of INR 98.5 billion for fiscal 2026, exceeding the top end of its guidance, according to management. Profit after tax rose to INR 10.4 billion, up 2.3 times from INR 4.6 billion in fiscal 2025. CFO Kailash Vaswani said adjusted EBITDA grew approximately 25% year over year, while cash flow to equity increased 45% to INR 21.6 billion. Vaswani said the results were driven by portfolio growth, lower leverage and interest expense, manufacturing contributions and disciplined cost management. The company reduced net debt to EBITDA by about 1.1 turns year over year. Sinha said ReNew’s interest expense-to-adjusted EBITDA ratio fell to 61.5% in fiscal 2026 from 66% in fiscal 2025. → Peloton Stock Gives Back Gains After Upbeat Earnings Report The company also highlighted progress on receivables. Sinha said ReNew received a favorable Supreme Court order related to roughly half of overdue receivables from Andhra Pradesh and has begun receiving initial payments for some past-due receivables. Vaswani said the company expects the development to help bring days sales outstanding below 50 by next year. For the fiscal fourth quarter, Vaswani said adjusted EBITDA was approximately INR 23.7 billion, compared with INR 22.1 billion in the prior-year period. He said fourth-quarter results included INR 4 billion from the manufacturing business, compared with INR 3.6 billion in the same quarter of fiscal 2025. ReNew’s manufacturing business contributed INR 14.8 billion to consolidated adjusted EBITDA in fiscal 2026, or about 15% of total adjusted EBITDA, Sinha said. Vaswani added that the business generated more than INR 19 billion of EBITDA on a standalone basis. Sinha said the company expects to start production at its 4-gigawatt cell facility toward the end of the current fiscal year. He also pointed to India’s ALMM 2 policy, which mandates domestic sourcing of cells beginning in June 2026, and the proposed ALMM 3 policy, under which ingots and wafers would need to be procured domestically from June 2028. ReNew has announced a 6.5-gigawatt ingot and wafer facility to further integrate its supply chain. During the webcast Q&A, management said the facility requires about INR 42 billion of capital expenditure, assuming the company does not build a captive power plant. Management said 50% to 60% may be funded through project debt, with the remainder funded through manufacturing cash accruals and an external fundraise. ReNew’s parent company is not expected to deploy additional equity into the manufacturing business for the facility. In response to an analyst question from Mizuho’s Maheep Mandloi, Sinha said the ingot and wafer plant is expected to be commissioned around June 2028 and will not contribute in fiscal 2027 or fiscal 2028. Sinha said ReNew’s commercial and industrial, or C&I, business now totals 2.7 gigawatts, including 2.2 gigawatts commissioned. The business has grown sevenfold over the past five years, and nearly half of its contracted capacity is tied to large technology companies and hyperscalers, he said. ReNew recently raised $95 million for an 11.3% stake in its C&I platform from a LeapFrog-led consortium. Sinha said the segment is positioned to benefit from data center demand, noting that C&I customers consume about half of India’s electricity and pay some of the highest grid tariffs, while renewable penetration remains low. Management also said ReNew is increasingly shifting its portfolio toward solar and battery storage, reducing reliance on wind. Vaswani said falling battery storage prices have led the company to favor a solar-plus-BESS configuration, reducing overall capital expenditure by INR 60 billion while lowering EBITDA by only INR 7 billion compared with the prior configuration. He said the mix should improve execution certainty and make cash flows more predictable. Wind will still remain part of the portfolio, particularly in C&I and other higher-return opportunities, Vaswani said. For fiscal 2027, ReNew expects adjusted EBITDA of INR 103 billion to INR 109 billion, supported by contributions from both the core renewable business and manufacturing. Vaswani said that represents a 17% increase from the guidance range provided last year. The company expects its manufacturing business to contribute INR 10 billion to INR 12 billion in fiscal 2027. Vaswani said manufacturing margins are expected to moderate somewhat this year, but the long-term EBITDA growth outlook remains intact, with the 4-gigawatt cell expansion expected to contribute meaningfully in fiscal 2028 and the ingot-wafer plant in fiscal 2029. ReNew also expects INR 1.2 billion from asset recycling, construction of 1.6 gigawatts to 2.4 gigawatts of capacity and cash flow to equity of INR 18 billion to INR 22 billion in fiscal 2027. On refinancing, Vaswani said ReNew has about $1 billion due for repayment over roughly the next 12 months, with $400 million of commitments already received. He said the company may use a mix of dollar bonds and onshore liquidity, depending on which option provides the lowest cost of capital. ReNew refinanced approximately $2 billion of debt in fiscal 2026, he said. Sinha said grid expansion did not keep pace with renewable installations in fiscal 2026, leading to curtailment for some renewable projects, particularly in Rajasthan. He said the impact moderated in the fiscal fourth quarter but is expected to affect the current fiscal year, especially the first half. In response to Mandloi’s question on lower solar plant load factors, Sinha said solar performance was affected by some curtailment and slightly lower resource efficiency. During the Q&A, Bernstein analyst Nikhil Nigania asked about CERC deviation settlement mechanism regulations and a related stay order from the Karnataka High Court. Sinha said current guidelines are unlikely to remain unchanged and that some relaxation is expected. If the current framework were implemented as is, he estimated an impact of about INR 0.5 billion in fiscal 2027. Sinha also said ReNew is seeing emerging opportunities in green fuels, including a planned green methanol tender by the Government of India and possible renewed activity in fertilizer and refinery-related tenders. He said overseas demand is also picking up, particularly in the Far East, and that green fuels could become a larger medium-term opportunity. Asked about a potential India listing given valuation differences with Indian peers, Vaswani said management has observed the gap, but ReNew is not currently considering an India listing. ReNew Energy Global PLC is an independent power producer specializing in the development, construction, ownership and operation of utility-scale renewable energy projects. Headquartered in Gurugram, India, the company focuses on onshore wind farms, solar photovoltaic plants and hybrid energy systems, often paired with battery energy storage to enhance grid stability and dispatch flexibility. ReNew Energy Global markets electricity under long-term power purchase agreements, serving utilities, distribution companies and corporate offtakers. The company’s core business activities encompass site identification, project design, procurement, construction management and ongoing asset management. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "ReNew Energy Global Q4 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for May 2026.