ReNew Announces Results for the First Quarter for Fiscal Year 2025 (Q1 FY25), ended June 30, 2024 24% surge in operating capacity YoY; reiterates FY25 MW and EBITDA guidance
ReNew Energy Global Plc (Nasdaq: RNW, RNWWW) announced its Q1 FY25 results, highlighting a 24% year-over-year increase in operating capacity. The company's portfolio grew to ~15.6 GWs, with ~9.6 GWs commissioned and ~6.0 GWs committed. Revenue for Q1 FY25 reached INR 22,811 million (US$ 274 million), up from INR 21,250 million in Q1 FY24. However, net profit decreased to INR 394 million (US$ 5 million) from INR 2,983 million in the previous year. Adjusted EBITDA slightly improved to INR 18,979 million (US$ 228 million). ReNew reiterated its FY25 guidance, expecting to complete 1,900 to 2,400 MWs of construction and projecting Adjusted EBITDA of INR 76 – 82 billion and Cash Flow to Equity of INR 12 – 14 billion.
ReNew Energy Global Plc (Nasdaq: RNW, RNWWW) ha annunciato i risultati per il primo trimestre dell'anno fiscale 25, evidenziando un incremento del 24% della capacità operativa rispetto all'anno precedente. Il portafoglio dell'azienda è cresciuto a circa 15,6 GW, con circa 9,6 GW commissionati e circa 6,0 GW impegnati. I ricavi per il primo trimestre dell'anno fiscale 25 hanno raggiunto INR 22.811 milioni (US$ 274 milioni), rispetto a INR 21.250 milioni del primo trimestre dell'anno fiscale 24. Tuttavia, l'utile netto è diminuito a INR 394 milioni (US$ 5 milioni) rispetto a INR 2.983 milioni dell'anno precedente. L'EBITDA rettificato è leggermente migliorato a INR 18.979 milioni (US$ 228 milioni). ReNew ha confermato le previsioni per l'anno fiscale 25, prevedendo di completare 1.900 a 2.400 MW di costruzione e prevedendo un EBITDA rettificato tra INR 76 e 82 miliardi e un flusso di cassa verso l'equità di INR 12 e 14 miliardi.
ReNew Energy Global Plc (Nasdaq: RNW, RNWWW) anunció sus resultados del primer trimestre del año fiscal 25, destacando un aumento del 24% en la capacidad operativa en comparación con el año anterior. La cartera de la empresa creció a aproximadamente 15,6 GW, con aproximadamente 9,6 GW comisionados y aproximadamente 6,0 GW comprometidos. Los ingresos para el primer trimestre del año fiscal 25 alcanzaron INR 22.811 millones (US$ 274 millones), un aumento desde INR 21.250 millones en el primer trimestre del año fiscal 24. Sin embargo, la utilidad neta disminuyó a INR 394 millones (US$ 5 millones) desde INR 2.983 millones del año anterior. El EBITDA ajustado mejoró ligeramente a INR 18.979 millones (US$ 228 millones). ReNew reiteró su guía para el año fiscal 25, esperando completar de 1.900 a 2.400 MW de construcción y proyectando un EBITDA ajustado de INR 76 a 82 mil millones y un flujo de caja a capital de INR 12 a 14 mil millones.
ReNew Energy Global Plc (Nasdaq: RNW, RNWWW)가 2025 회계연도 1분기 실적을 발표하며 전년 대비 24% 증가한 운영 능력을 강조했습니다. 회사의 포트폴리오는 약 15.6 GW로 성장했으며, 약 9.6 GW가 가동되었고 약 6.0 GW가 확정되었습니다. 2025 회계연도 1분기 수익은 INR 22,811 백만 (US$ 274 백만)에 이르렀으며, 이는 2024 회계연도 1분기의 INR 21,250 백만에서 증가한 수치입니다. 그러나 순이익은 INR 394 백만 (US$ 5 백만)으로 감소했으며, 이는 전년 대비 INR 2,983 백만에서 줄어든 수치입니다. 조정된 EBITDA는 약간 개선되어 INR 18,979 백만 (US$ 228 백만)에 달했습니다. ReNew는 2025 회계연도 가이드를 재확인하며 1,900에서 2,400 MW의 건설 완료를 예상하고 있으며, 조정된 EBITDA는 INR 76 – 82 억, 자산 현금 흐름은 INR 12 – 14 억을 예상하고 있습니다.
ReNew Energy Global Plc (Nasdaq: RNW, RNWWW) a annoncé ses résultats du premier trimestre de l'exercice 25, mettant en avant une augmentation de 24% de la capacité opérationnelle par rapport à l'année précédente. Le portefeuille de l'entreprise a atteint environ 15,6 GW, avec environ 9,6 GW mis en service et environ 6,0 GW engagés. Le chiffre d'affaires pour le premier trimestre de l'exercice 25 a atteint INR 22.811 millions (274 millions de dollars), en hausse par rapport à INR 21.250 millions pour le premier trimestre de l'exercice 24. Cependant, le bénéfice net a diminué à INR 394 millions (5 millions de dollars), comparé à INR 2.983 millions l'année précédente. Le EBITDA ajusté a légèrement augmenté pour s'élever à INR 18.979 millions (228 millions de dollars). ReNew a réaffirmé ses prévisions pour l'exercice 25, s'attendant à terminer de 1.900 à 2.400 MW de construction et prévoyant un EBITDA ajusté de INR 76 à 82 milliards et un flux de trésorerie vers l'équité de INR 12 à 14 milliards.
ReNew Energy Global Plc (Nasdaq: RNW, RNWWW) hat die Ergebnisse für das erste Quartal des Geschäftsjahres 25 bekannt gegeben und hebt einen 24%igen Anstieg der Betriebskapazität im Jahresvergleich hervor. Das Portfolio des Unternehmens wuchs auf ca. 15,6 GW, mit ca. 9,6 GW in Betrieb und ca. 6,0 GW verpflichtet. Der Umsatz für das erste Quartal des Geschäftsjahres 25 betrug INR 22.811 Millionen (US$ 274 Millionen), ein Anstieg gegenüber INR 21.250 Millionen im ersten Quartal des Geschäftsjahres 24. Der Nettogewinn fiel jedoch auf INR 394 Millionen (US$ 5 Millionen), von INR 2.983 Millionen im Vorjahr. Das bereinigte EBITDA verbesserte sich leicht auf INR 18.979 Millionen (US$ 228 Millionen). ReNew bestätigte die Prognose für das Geschäftsjahr 25 und erwartet den Abschluss von 1.900 bis 2.400 MW an Bauprojekten sowie ein bereinigtes EBITDA von INR 76 – 82 Milliarden und einen Cash Flow zu Eigenkapital in Höhe von INR 12 – 14 Milliarden.
- 24% year-over-year increase in operating capacity to ~15.6 GWs
- Revenue growth to INR 22,811 million (US$ 274 million) in Q1 FY25
- Slight improvement in Adjusted EBITDA to INR 18,979 million (US$ 228 million)
- Reaffirmation of FY25 guidance for construction completion and financial metrics
- Significant decrease in net profit to INR 394 million (US$ 5 million) from INR 2,983 million in Q1 FY24
Insights
ReNew's Q1 FY25 results show mixed signals. While revenue increased by
On a positive note, the company's operating capacity grew by
ReNew's portfolio expansion to 15.6 GWs, with 9.6 GWs commissioned, represents significant progress in the renewable energy sector. The
The company's focus on solar and wind capacity additions aligns with global trends in clean energy transition. However, the relatively modest increase in Adjusted EBITDA (
GURUGRAM,
Operating Highlights:
- As of June 30, 2024, the Company’s portfolio consisted of ~15.6 GWs, of which ~9.6 GWs are commissioned and ~6.0 GWs are committed, compared to ~13.7 GWs as of June 30, 2023.
-
The Company’s commissioned capacity has increased
14.0% year-over-year to ~9.6 GWs as of June 30, 2024. Subsequent to the end of the quarter, the Company commissioned 400 MWs of solar and 14 MWs of wind capacity, taking the total commissioned capacity to ~10 GWs as of August 15, 2024. -
Revenue for Q1 FY25 was INR 22,811 million (
US ), compared to INR 21,250 million ($ 274 million US ) for Q1 FY24. Net profit for Q1 FY25 was INR 394 million ($ 255 million US ) compared to INR 2,983 million ($ 5 million US ) for Q1 FY24. Adjusted EBITDA for Q1 FY25 was INR 18,979 million ($ 36 million US ), as against INR 18,599 million ($ 228 million US ) for Q1 FY24.$ 223 million
Note: the translation of Indian rupees into
FY25 Guidance
The Company reiterates its FY25 guidance and expects to complete construction of between 1,900 to 2,400 MWs by the end of Fiscal Year 2025. The Company’s Adjusted EBITDA and Cash Flow to Equity guidance for FY25 are subject to weather being similar to FY24. The Company anticipates continued net gains on sales of assets, which is part of ReNew’s capital recycling strategy, and has included INR 1-2 billion of gains in the guidance below:
Financial Year |
|
Adjusted EBITDA |
|
Cash Flow to equity (CFe) |
FY25 |
|
INR 76 – INR 82 billion |
|
INR 12 – INR 14 billion |
The Company also reiterates its long-term and run rate guidance provided in Q4 FY24 results.
Note: the translation of Indian rupees into
Webcast and Conference call information
A conference call has been scheduled to discuss the earnings results at 8:30 AM EDT (6:00 PM IST) on August 16, 2024. The conference call can be accessed live at: https://edge.media-server.com/mmc/p/ucbu5ouj or by phone (toll-free) by dialing:
US/
Rest 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
Forward Looking Statements
This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended and the Private Securities Litigation Reform Act of 1995, including statements regarding our future financial and operating guidance, operational and financial results such as estimates of nominal contracted payments remaining and portfolio run rate, and the assumptions related to the calculation of the foregoing metrics. The risks and uncertainties that could cause our results to differ materially from those expressed or implied by such forward-looking statements include: the availability of additional financing on acceptable terms; changes in the commercial and retail prices of traditional utility generated electricity; changes in tariffs at which long-term PPAs are entered into; changes in policies and regulations including net metering and interconnection limits or caps; the availability of rebates, tax credits and other incentives; the availability of solar panels and other raw materials; our limited operating history, particularly as a relatively new public company; our ability to attract and retain relationships with third parties, including solar partners; our ability to meet the covenants in our debt facilities; meteorological conditions; supply disruptions; solar power curtailments by state electricity authorities and such other risks identified in the registration statements and reports that our Company has filed or furnished with the
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 contracted portfolio of ~15.6 GW as of Aug 15, 2024, is one of the largest globally. In addition to being a major independent power producer in
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Press Enquiries
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Investor Enquiries
Nathan Judge, Anunay Shahi, Nitin Vaid | ir@renew.com
Source: ReNew Energy Global Plc
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