ReNew Energy Global Plc Class A Ordinary Shares (RNW) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q1 27	$11.6	$16.1	+38.6%	—	$44.6B	—
Q4 26	-$19.1	$2.09	+111.0%	—	$31.8B	—
Q2 26	$13.8	$13.1	-5.1%	—	$36.3B	—
Q1 26	$11.8	$13.8	+17.1%	—	$39B	—
Q4 25	$5.49	$8.11	+47.7%	—	$29B	—
Q3 25	-$3	-$9.56	-218.7%	—	$203.1M	—
Q2 25	$10	$14.3	+42.1%	—	$301.9M	—
Q1 25	$5.52	$0.25	-95.5%	—	$22.8B	—
Q4 24	-$4.45	$1.29	+129.0%	—	$18.1B	—
Q3 24	-$13	-$8.3	+36.2%	—	$16B	—
Q2 24	$1.31	$9.16	+599.2%	—	$26B	—
Q1 24	$0.06	$0.09	+50.0%	—	$21.3B	—
Q3 23	-$0.09	-$0.15	-66.7%	—	$13.2B	—
Q2 23	$0.08	-$0.03	-137.5%	—	$19.6B	—
Q1 23	$2.25	$2.31	+2.7%	—	$22.2B	—
Q4 22	-$0.01	-$0.12	-1100.0%	—	$14.9B	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY26	—	$27.6	—	—	$132.2B	—
FY25	—	$10.9	—	—	$97.1B	—
FY24	—	$9.94	—	—	$81.3B	—
FY23	—	-$12.3	—	—	$78.2B	—
FY22

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26
Revenue	$43.1B	$48.4B	$48.2B	$59.3B	$78.2B	$81.3B	$97.1B	$132.2B
YoY change	—	+12.2%	-0.46%	+23.2%	+31.8%	+3.96%	+19.4%	+36.2%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26
Revenue	43.1B	48.4B	48.2B	59.3B	78.2B	81.3B	97.1B	132.2B
Cost of revenue	81M	530M	426M	324M	7B	3.8B	8.6B	21.5B
Gross profit	43.1B	47.9B	47.8B	59B	71.3B	77.5B	88.5B	110.7B
Gross margin	99.8%	98.9%	99.1%	99.5%	91.1%	95.3%	91.1%	83.7%
Research & development	—	—	—	—	—	—	—	—
Selling, general & administrative	2.4B	2.2B	3B	7.8B	8.6B	8.6B	8.5B	10.9B
Operating expenses	360M	679M	1.8B	6B	7.1B	7.5B	9.5B	13.9B
Operating income	30.5B	32.4B	29.9B	34.2B	42.6B	46.2B	51.9B	61.6B
Operating margin	70.7%	66.9%	62.1%	57.6%	54.5%	56.8%	53.5%	46.6%
Non-operating income, net	182M	275M	-121M	-8.1B	1.3B	2.8B	5.8B	8B
Pretax income	4.9B	-623M	-5.1B	-12.2B	-2.5B	8.1B	10B	13.6B
Income tax	1.8B	2.2B	2.9B	3.9B	2.6B	4B	5.4B	3.2B
Net income	3.1B	-2.8B	-8B	-16.1B	-5B	4.1B	4.6B	10.4B
Net margin	7.26%	-5.74%	-16.7%	-27.2%	-6.43%	5.1%	4.73%	7.86%
EBITDA	40.9B	44B	43.6B	37.5B	57.5B	66.6B	76.1B	91B
EPS	6.6	-6.73	-19.5	-40.4	-12.3	9.94	10.9	27.6
Diluted EPS	6.6	-6.73	-19.5	-40.4	-12.3	9.92	10.8	27.2

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26	Q4 26	Q1 27
Revenue	26B	16B	18.1B	22.8B	301.9M	203.1M	29B	39B	36.3B	25.1B	31.8B	44.6B
Cost of revenue	1.2B	1B	1.1B	237M	4.7M	28.3M	5.4B	6.7B	5.6B	3.1B	6.1B	10.3B
Gross profit	24.8B	15B	17B	22.6B	297.2M	174.8M	23.7B	32.3B	30.7B	22B	25.7B	34.2B
Gross margin	95.5%	93.7%	93.9%	99%	98.5%	86.1%	81.5%	82.8%	84.5%	87.5%	80.9%	76.8%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	1.1B	1.3B	5B	1.4B	13.1M	9M	5.1B	1.6B	1.4B	1.3B	6.5B	2B
Operating expenses	5.1B	3.6B	-4.5B	4.8B	43.2M	36.9M	-2.5B	6B	5.6B	6B	-3.7B	6B
Operating income	15.2B	6.9B	10.8B	12.9B	195.1M	80.4M	14.4B	20.2B	18.8B	9.6B	13B	20.9B
Operating margin	58.7%	43.4%	59.5%	56.6%	64.6%	39.6%	49.6%	51.8%	51.8%	38.1%	41%	46.9%
Non-operating income, net	1.3B	-6M	662M	632M	18.3M	15.2M	2.2B	714M	1.1B	4.8B	1.5B	1.8B
Pretax income	4.7B	-3.3B	2.1B	2.5B	84.4M	-32.4M	3B	7.7B	5.6B	-505M	807M	8.3B
Income tax	948M	-38M	1.5B	2.1B	28.6M	10.3M	-122M	2.6B	912M	-307M	30M	2.4B
Net income	3.8B	-3.2B	609M	394M	55.8M	-42.6M	3.1B	5.1B	4.7B	-198M	777M	6B
Net margin	14.5%	-20.1%	3.36%	1.73%	18.5%	-21%	10.8%	13.2%	12.9%	-0.79%	2.44%	13.4%
EBITDA	22B	13.6B	11.2B	19.6B	281.8M	163.8M	16.6B	28.3B	27.1B	21.9B	13.8B	31.2B
EPS	9.38	-8.3	1.3	0.24	11.9	-9.47	8.2	13.9	11.8	0.16	1.6	16.4
Diluted EPS	9.38	-8.3	1.29	0.24	11.9	-10.6	8.11	13.7	11.5	0.16	1.59	16.3

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26	Current
Market cap	—	—	349.1B	285.2B	187B	—	2.1B	1.7B	2.5B
Enterprise value	—	—	653.5B	653.7B	642.9B	—	653.1B	704.4B	7.8B
Shares outstanding	34.8B	34.8B	34.8B	34.7B	33.3B	365.5M	362.7M	363.7M	363.7M

Valuation

Metric	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26	Current
P/E	—	—	—	—	—	—	0.47	0.16	22.1
P/S	—	—	7.24	4.81	2.39	—	0.02	0.01	0.02
P/B	—	—	5.39	2.26	1.58	—	0.02	0.01	1.83
EV/EBITDA	—	—	15	17.4	11.2	—	8.58	7.74	8.28
EV/Sales	—	—	13.6	11	8.22	—	6.73	5.33	5.41
Earnings yield	—	—	—	—	—	—	214.9%	623.5%	4.53%
FCF yield	—	—	2.18%	-16.6%	-11.1%	—	-1.2K%	-752.2%	-29.7%
PEG	—	—	—	—	—	—	—	—	1.23

Profitability

Metric	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26	Current
Gross margin	99.8%	98.9%	99.1%	99.5%	91.1%	95.3%	91.1%	83.7%	76.8%
Operating margin	70.7%	66.9%	62.1%	57.6%	54.5%	56.8%	53.5%	46.6%	46.9%
Net margin	7.26%	-5.74%	-16.7%	-27.2%	-6.43%	5.1%	4.73%	7.86%	7.74%
ROE	—	-3.53%	-12.4%	-12.8%	-4.25%	3.41%	3.5%	7.19%	7.74%
ROA	—	-0.58%	-1.63%	-2.51%	-0.67%	0.47%	0.48%	0.98%	3.88%
ROIC	—	8.79%	8.1%	6.91%	7.42%	3.39%	3.04%	5.54%	5.75%
Return on tangible assets	—	-0.68%	-1.92%	-2.87%	-0.75%	0.52%	0.52%	1.07%	1.07%

Financial health

Metric	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26	Current
Current ratio	—	1.61	1.52	1.34	0.95	0.74	0.6	0.43	0.43
Quick ratio	—	1.6	1.5	1.33	0.94	0.72	0.58	0.38	0.4
Debt / equity	—	4.24	5.43	3.54	4.53	5.39	5.59	5.41	5.25
Debt / assets	—	0.7	0.71	0.7	0.72	0.75	0.76	0.74	0.74
Net debt / EBITDA	—	6.59	6.98	9.82	7.93	8.6	8.55	7.72	7.44
Interest coverage	1.19	0.98	0.86	0.66	0.94	1.19	1.2	1.23	1.24
Effective tax rate	36.5%	0%	0%	0%	0%	49.1%	54.2%	23.8%	21.3%

Per share

Metric	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26	Current
Revenue per share	1.24	1.39	1.38	1.71	2.35	222.5	267.6	363.5	378.4
EPS (basic)	6.6	-6.73	-19.5	-40.4	-12.3	9.94	10.9	27.6	27.6
EPS (diluted)	6.6	-6.73	-19.5	-40.4	-12.3	9.92	10.8	27.2	0.31
Book value per share	—	2.26	1.86	3.64	3.56	333	361.5	397.1	3.74
FCF per share	-0.9	-0.12	0.22	-1.37	-0.62	-232.3	-71.9	-34.4	-47.4
Cash per share	—	1.27	1.36	2.28	2.42	226.9	224.3	215.5	239.1
Capex per share	1.76	1.13	0.7	2.58	2.59	420.9	258.2	—	—

Capital allocation

Metric	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26	Current
Capex / revenue	141.8%	81.2%	50.8%	151.1%	110.3%	189.2%	96.5%	—	—
Capex / operating cash flow	198.3%	103.6%	76.1%	194%	123.5%	201.3%	127.5%	—	—
Payout ratio	0%	0%	0%	-121.6%	0%	0%	0%	0%	0%
Dividend yield	—	—	0%	6.87%	0%	—	0%	0%	0%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY20	FY21	FY22	FY23	FY24	FY25	FY26
Cash & short-term investments	44.4B	47.2B	79.3B	80.6B	82.9B	81.3B	78.4B
Receivables	25.9B	34.8B	44.8B	21.6B	13.8B	16.7B	20.2B
Inventory	609M	833M	815M	1.2B	1.7B	4.2B	13.5B
Total current assets	84.9B	92.3B	135.2B	109.9B	104.4B	118.4B	135.3B
Property, plant & equipment	350.8B	353.8B	455.1B	560B	696.6B	769.6B	839.2B
Goodwill & intangibles	71.9B	72.8B	79.4B	77.2B	75.8B	72.4B	82.2B
Total assets	479.6B	492.1B	641.3B	746.5B	873.9B	959.8B	1.1T
Accounts payable	3.7B	3.2B	5.6B	6.1B	9.1B	8.2B	17.8B
Short-term debt	35.3B	41.4B	71B	63.8B	82.3B	141.7B	241.3B
Total current liabilities	52.7B	60.8B	101.3B	115.9B	142B	196.4B	317.8B
Long-term debt	298.8B	310.2B	376.7B	472.8B	573.3B	590.6B	539.8B
Total liabilities	400.7B	427.3B	515B	628.1B	752.2B	828.7B	911.7B
Shareholders' equity	78.8B	64.7B	126.4B	118.4B	121.7B	131.1B	144.4B
Total debt	334.1B	351.6B	447.7B	536.6B	655.7B	732.3B	781.1B
Net debt	321B	331B	419.3B	498.4B	628.6B	691.9B	758.2B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26	Q4 26	Q1 27
Cash & short-term investments	87.5B	114.8B	82.9B	79.4B	902.1M	946.8M	81.3B	89.8B	111B	116.4B	78.4B	101.9B
Receivables	19.5B	15.1B	13.8B	17.4B	223.6M	177.8M	16.7B	21.8B	22B	15B	20.2B	24.5B
Inventory	1.5B	1.8B	1.7B	1B	19.6M	27.6M	4.2B	7.8B	6.4B	13.4B	13.5B	8.7B
Total current assets	120.5B	140.2B	104.4B	103.9B	1.2B	1.2B	118.4B	132.2B	151.9B	159.6B	135.3B	145.9B
Property, plant & equipment	603.6B	656.5B	696.6B	711.5B	8.4B	8.4B	769.6B	750.1B	779B	793.1B	839.2B	854.8B
Goodwill & intangibles	38B	37.6B	75.8B	37.5B	419.3M	404.4M	72.4B	36.4B	35.4B	34.9B	82.2B	40.5B
Total assets	813.5B	886.7B	873.9B	895.1B	10.5B	10.5B	959.8B	961.6B	1T	1T	1.1T	1.1T
Accounts payable	7.1B	8B	9.1B	6.1B	74M	88.7M	8.2B	8.5B	12.2B	13.8B	17.8B	15.4B
Short-term debt	85.3B	101.8B	82.3B	103.4B	1.3B	1.4B	141.7B	116.2B	140.1B	212.7B	241.3B	272.8B
Total current liabilities	136.8B	164.5B	142B	156B	1.9B	2B	196.4B	171.3B	196.9B	282.2B	317.8B	341.5B
Long-term debt	508.5B	556.4B	573.3B	576.2B	6.7B	6.7B	590.6B	609.4B	620.3B	554.7B	539.8B	528.3B
Total liabilities	689.5B	766.4B	752.2B	772.7B	9B	9.2B	828.7B	825.6B	874B	892.1B	911.7B	931.8B
Shareholders' equity	124B	120.3B	121.7B	122.3B	1.5B	1.4B	131.1B	136B	140.7B	142.2B	144.4B	153.7B
Total debt	593.7B	658.2B	655.7B	679.6B	8B	8.1B	732.3B	725.6B	760.3B	767.4B	781.1B	801.2B
Net debt	569.3B	602.2B	628.6B	663.1B	7.8B	7.8B	691.9B	692.4B	719.5B	723B	758.2B	779.1B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26
Net income	4.9B	-623M	-5.1B	-12.2B	-2.5B	8.1B	10B	13.6B
Depreciation & amortization	9.5B	11.2B	12B	13.8B	15.9B	17.6B	20.7B	26.7B
Stock-based compensation	183M	72M	203M	2.4B	2B	1.7B	1.3B	897M
Change in working capital	-9B	-5.7B	-10.4B	-4.1B	6.7B	5.2B	-5.6B	-6.4B
Operating cash flow	30.9B	37.9B	32.2B	46.2B	69.9B	76.4B	73.5B	81.4B
Capital expenditure	-61.2B	-39.3B	-24.5B	-89.7B	-86.3B	-153.8B	-93.7B	—
Investing cash flow	-54.7B	-55.9B	-19.4B	-126.5B	-77.1B	-166.1B	-78.3B	-12.5B
Dividends paid	0	0	0	-19.6B	0	0	0	0
Share repurchases	—	—	0	-1.3B	-13.3B	-4.8B	0	0
Financing cash flow	13.5B	9.1B	7.1B	119.5B	90.6B	135.6B	77.8B	62.4B
Net change in cash	-10.4B	-8.8B	19.9B	39.3B	83.4B	45.9B	73B	131.4B
Free cash flow	-31.2B	-4.2B	7.6B	-47.4B	-20.8B	-84.9B	-26.1B	-12.5B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26	Q4 26	Q1 27
Net income	4.7B	-3.3B	2.1B	2.5B	84.4M	-32.4M	3B	7.7B	5.6B	-505M	807M	8.3B
Depreciation & amortization	4.4B	4.4B	4.5B	4.8B	58.9M	57.5M	5.4B	6B	6.3B	6.5B	8B	—
Stock-based compensation	380M	509M	450M	463M	3.9M	2.1M	274M	216M	229M	296M	156M	—
Change in working capital	-2.7B	6.4B	1.3B	-10.4B	-32.4M	66.1M	-2.1B	-16.8B	3.7B	6.8B	-12B	—
Operating cash flow	19.6B	18.2B	20.3B	8.3B	237.9M	211.6M	21.2B	11.9B	28.8B	22.6B	18.1B	21.6B
Capital expenditure	-40.8B	-43.2B	-34.9B	-36.3B	-232.7M	-207.7M	-17.9B	—	—	—	—	—
Investing cash flow	-48.3B	-41.2B	-30.5B	-41.2B	-237.1M	-241.6M	5.8B	-9.8B	-6.5B	9B	-5.1B	3.4B
Dividends paid	0	0	0	0	0	0	0	0	0	0	0	0
Share repurchases	-1.4B	-1.3B	0	0	0	0	0	—	—	—	—	—
Financing cash flow	33.3B	23.5B	123.4B	31.4B	189M	211.2M	9B	15.9B	31.7B	15.3B	109M	26.7B
Net change in cash	4.6B	471M	113.3B	-1.4B	189.8M	181.2M	36B	18B	54B	46.9B	13.1B	51.7B
Free cash flow	-21.9B	-24.4B	-17.2B	-26.4B	-5.1M	-4.4M	1.1B	6.8B	-2.8B	-7B	-1.7B	-6B

ReNew Energy Global Plc Class A Ordinary Shares Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement