ReNew Energy Global (NASDAQ:RNW) Announces Earnings Results

ReNew Energy Global (NASDAQ:RNW) released its quarterly earnings data on Tuesday. The company reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.05, FiscalAI reports. The firm had revenue of $472.92 million during the quarter, compared to analysts’ expectations of $459.86 million. ReNew Energy Global had a net margin of 7.24% and a return on equity of 7.78%.

Here are the key takeaways from ReNew Energy Global’s conference call:

• Strong operating and financial performance: ReNew commissioned more than 1 GW year to date, while Q1 revenue rose 14%, adjusted EBITDA increased 12% to INR 30.4 billion, and profit after tax grew 16% to INR 6 billion.
• Execution and capital recycling remain on track: The committed portfolio reached 20.5 GW, including 1.7 GW of BESS, and a planned sale of more than 1 GW of assets is expected to generate approximately $190 million of equity cash inflow and support leverage reduction.
• Grid constraints are weighing on generation: Solar PLF declined year over year, with management attributing roughly half of the impact to curtailment and half to weaker weather; discussions with the government about compensation for certain curtailments remain unresolved.
• Manufacturing margins may normalize: Q1 external manufacturing EBITDA margin fell to approximately 34% from 40% a year earlier, and management expects some further pressure as additional cell capacity comes online, although full-year guidance of INR 10 billion–INR 12 billion in manufacturing EBITDA was reiterated.
• Take-private transaction advances: The independent committee plans to recommend the $7.02-per-share cash offer from the CPP Investments-led consortium, with the scheme expected to become effective in Q1 2027, subject to shareholder and regulatory approvals.

ReNew Energy Global Price Performance

RNW opened at $6.80 on Thursday. The business has a fifty day moving average of $6.29 and a 200 day moving average of $5.68. ReNew Energy Global has a 52-week low of $4.39 and a 52-week high of $8.24. The company has a quick ratio of 0.38, a current ratio of 0.43 and a debt-to-equity ratio of 3.66. The stock has a market cap of $2.47 billion, a P/E ratio of 21.25 and a beta of 1.12.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on RNW shares. Mizuho decreased their target price on ReNew Energy Global from $7.00 to $6.75 and set a “neutral” rating on the stock in a report on Monday, June 1st. Zacks Research lowered shares of ReNew Energy Global from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 17th. Finally, Weiss Ratings raised ReNew Energy Global from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, June 24th. Three equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $6.39.

Institutional Trading of ReNew Energy Global

Several institutional investors and hedge funds have recently made changes to their positions in RNW. State Street Corp grew its holdings in shares of ReNew Energy Global by 484.6% in the fourth quarter. State Street Corp now owns 2,779,666 shares of the company’s stock worth $15,705,000 after purchasing an additional 2,304,172 shares during the last quarter. Invesco Ltd. boosted its position in ReNew Energy Global by 6.5% in the 4th quarter. Invesco Ltd. now owns 2,501,501 shares of the company’s stock valued at $14,133,000 after buying an additional 152,439 shares during the period. Man Group plc boosted its position in ReNew Energy Global by 663.5% in the 4th quarter. Man Group plc now owns 2,046,780 shares of the company’s stock valued at $11,564,000 after buying an additional 1,778,705 shares during the period. M&G PLC increased its position in shares of ReNew Energy Global by 8.3% during the fourth quarter. M&G PLC now owns 1,845,282 shares of the company’s stock worth $11,072,000 after acquiring an additional 141,952 shares during the period. Finally, First Trust Advisors LP raised its position in ReNew Energy Global by 1.7% during the 4th quarter. First Trust Advisors LP now owns 812,140 shares of the company’s stock valued at $4,589,000 after purchasing an additional 13,313 shares in the last quarter. 43.56% of the stock is currently owned by institutional investors.

ReNew Energy Global Company Profile

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.