| Factor | Score | Distribution | Value | Avg | Rank |
|---|---|---|---|---|---|
Valuation | 49 | 20.2x | 17.8x | Around median | |
Growth | 85 | 28.0% | 7.1% | Top tier | |
Quality | 41 | 6.5% | 4.5% | Around median | |
Safety | 23 | 6.8x | 2.6x | Bottom tier | |
Capital Return | 1 | — | 2.12% | Bottom tier | |
Momentum | 61 | -21.9% | 2.9% | Around median | |
Sentiment | 41 | 2 | 3 | Around median |
Estimates — analyst targets and a simplified DCF, not investment advice.
Ten ratios that matter, each compared against its sector median and average — so you can see whether a number is rich or cheap relative to peers in the same sector.
ReNew Energy Global develops and operates renewable energy assets in India, and its operating portfolio includes solar, wind, and hydro power, battery energy storage systems, as well as a solar cell and module manufacturing business. As of June 30, 2026, the total committed portfolio stood at 20.5 GW, including 13.5 GW in operation and 6.9 GW committed, and the portfolio included 1.7 GW of battery energy storage systems. The company generates its adjusted income primarily from the independent power production business, which recorded INR 29 billion in Q1 FY2027, and from external manufacturing sales, which recorded INR 16.6 billion, while between 40% and 60% of manufacturing output is sold internally to the independent power production business and does not appear as external sales in the consolidated financial statements.
In Q1 FY2027, revenue reached INR 44.6 billion, up 14% year over year, and total income reached INR 47.9 billion, while adjusted EBITDA came to INR 30.4 billion, up 12%. Net profit increased 16% to INR 6 billion, and profit before tax was approximately INR 8.3 billion. The adjusted EBITDA margin was 66.1% at the consolidated level, compared with 86% for the independent power production business and 34% for external manufacturing, with contributions of INR 24.7 billion from the former and INR 5.7 billion from the latter.
Q1 FY2027 results also exceeded market expectations, with earnings per share of $0.17 versus an estimate of $0.12, while revenue reported in the news release was $506.40 million versus expectations of $459.86 million. The provided annual EDGAR data show FY2025 revenue rising to $97.1 billion from $81.3 billion in FY2024, and net income increasing to $3.8 billion from $3.4 billion, with no gross profit or gross margin figure available in these data.
Automated analysis for informational purposes only — not investment advice.
The analyst consensus is “Buy,” with an average price target of $7.02, which is also the same figure for both the highest and lowest targets and matches the cash consideration offered in the take-private transaction announced on August 11, 2026. This target is below the 52-week high of $8.24 and above the 52-week low of $4.385, while the available data do not provide a price-to-earnings ratio that can be used to compare valuation with earnings. The valuation presented in this context is therefore primarily linked to the proposed transaction price, while completion remains subject to a shareholder vote, court proceedings, and regulatory approvals.
Figures in the text are as of 2026-09-01; the live price is shown at the top of the page.
ReNew recorded revenue of INR 44.6 billion in Q1 FY2027, up 14% year over year, while total income reached INR 47.9 billion. Adjusted EBITDA increased 12% to INR 30.4 billion, while net profit rose 16% to INR 6 billion. The consolidated adjusted EBITDA margin was 66.1%, with a margin of 86% for independent power production and 34% for external manufacturing. Earnings per share reported in the results news release also reached $0.17 versus analyst expectations of $0.12.
On August 11, 2026, ReNew entered into a binding agreement with a consortium including CPPIB and Sumant Sinha to execute the transaction through a UK scheme of arrangement. The proposal allows shareholders outside the consortium to receive $7.02 in cash per share or, subject to certain conditions, roll over their ownership and remain shareholders. The special committee of independent directors, after receiving Rothschild & Co.'s opinion regarding the financial fairness of the offer, considers the transaction fair and reasonable and intends to unanimously recommend its approval. The transaction remains subject to a shareholder vote, court proceedings, and regulatory approvals, with a long-stop date of March 31, 2027, or 95 days after publication of the scheme circular, in accordance with the agreement.
The committed portfolio stood at 20.5 GW as of June 30, 2026, including 13.5 GW in operation and 6.9 GW committed, alongside a total project pipeline of approximately 27 GW. Operating capacity increased 26% year over year after adjusting for the impact of asset sales, and the company commissioned approximately 1 GW since the start of FY2027. The total portfolio includes 1.7 GW of battery energy storage systems, while management aims to build between 1.6 GW and 2.4 GW during FY2027. More than 250 MW of solar capacity had also been installed and had reached the final stages of commissioning at the time of the August 18, 2026 call.
External manufacturing generated revenue of INR 16.4 billion and adjusted EBITDA of INR 5.7 billion in Q1 FY2027. The business's margin was approximately 34%, down from 40% in Q1 FY2026, and its external order book stood at approximately 1.1 GW. ReNew has operational capacity of 6.5 GW for modules and 2.5 GW for cells, in addition to a 4 GW TOPCon cell facility that it expects to fully commission by the end of FY2027. Management expects manufacturing to contribute between INR 10 billion and INR 12 billion to adjusted EBITDA during FY2027.
Some ReNew projects, particularly in Rajasthan, face generation curtailment due to temporary grid connection constraints, which contributed to an approximately 220-basis-point year-over-year decline in the solar capacity factor in Q1 FY2027. Management estimated that the impact of the constraints and the impact of cloudier days were similar, and as of the August 18, 2026 call, there was no defined mechanism to compensate for the majority of this curtailment. Manufacturing also faces potential pressure as new capacity enters the market, after its margin declined from 40% to 34%. In addition, net debt stood at approximately INR 671 billion as of June 30, 2026, and the leverage metric for operating projects stood at 5.7 times.
Cash, bank balances, investments, and short-term investments stood at INR 89 billion as of June 30, 2026. The company closed the sale of a 100 MW solar asset in Tamil Nadu in June 2026, then signed definitive agreements in August 2026 to sell approximately 1 GW of assets for expected cash flow to equity of $190 million upon closing. The collection of INR 5.7 billion from the electricity distribution company in Andhra Pradesh in July 2026 also reduced days sales outstanding from 71 days at the end of June to approximately 54 days at the end of July 2026. The company targets cash flow to equity of between INR 18 billion and INR 22 billion during FY2027, with a portion of the asset recycling proceeds allocated to reducing leverage.
