Renew Energy Global Plc · NASDAQ:RNW
Renew Energy Global — Q1 2027 Earnings Presentation
49 slides from Renew Energy Global's earnings presentation, Aug 18, 2026
Slide 1: Q1 FY27 Results Presentation
Q1 FY27 Results Presentation August 18, 2026
Slide 2: Disclaimer
Disclaimer 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. These forward-looking statements generally are identified by the
Slide 3: Agenda
AGENDA 1 2 3 Q1 FY27 Our Key Business Highlights Strengths Updates 4 5 6 Finance Updates ESG and Guidance Sustainability 7 Annexures 3
Slide 4: Our Vision and Values
OUR VISION To be a global leader of the clean energy transition OUR VALUES Pioneer Responsible Excellence Partner 4
Slide 5: Q1 FY27 Highlights
Q1 FY27 Highlights 01 5
Slide 6: Q1 FY27 Highlights
Q1 FY27 Highlights Consistent Project Execution Capital Recycling and Manufacturing Expansion ▪ 13.5 GW^ operational ( 26%* YoY) ▪ Jun’26: Closed the sale of 100 MW Tamil Nadu solar asset ▪ Commissioned over 1 GW YTD ▪ Aug’26: Signed definitive documents for sale of over 1 GW assets, ▪ 2.8 GW commis
Slide 7: Take Private: Binding Offer received; Agreement signed between Consortium and ReNew
Take Private: Binding Offer received; Agreement signed b/w Consortium and ReNew • On August 11, 2026, ReNew entered into a transaction agreement with the Consortium (comprising of CPPIB and Sumant Sinha) for the proposed acquisition (the "Transaction Agreement"). • The proposed acquisition will be e
Slide 8: Our Key Strengths
Our Key Strengths 02 8
Slide 9: A 15 Year journey of leading Indian renewables
A 15 Year journey of leading Indian renewables Shri Narendra Modi Doubled its operational Listed on the NASDAQ Crossed 10+ GW of Secured $95 million investment from inaugurated ReNew’s capacity and crossed the index and crossed 6 GW gross renewable LeapFrog in our C&I business; first utility-scale w
Slide 10: Market leading presence across the full spectrum of the Indian clean energy landscape
Market leading presence across the full spectrum of the Indian clean energy landscape Committed capacity of ~20.5 GW (incl. 1.7 GW BESS) | Total Pipeline of ~27 GW (incl. BESS) Utility Corporates Manufacturing Solar Wind C&I Modules 5.9 GW 3.7 GW 2.9 GW Committed capacity Committed capacity Committe
Slide 11: We are uniquely placed across India's renewable market segments
We are uniquely placed across India’s renewable market segments Installed RE capacity: One of the largest in India, operating portfolio of over 13.5 GW C&I: Leading player in India with 2.9 GW portfolio with high-quality offtakers; 2.6 GW installed Connectivity: Secured for entire pipeline & addnl.
Slide 12: Business Updates
Business Updates 03 12
Slide 13: Electricity demand driving RE growth
Electricity demand driving RE growth Peak demand hits a new high RE provides majority of capacity additions (in GW) 57.5 ▪ Renewables contributed 86% of overall power capacity addition in Q1 Others 4.3 FY27, in line with recent trends 2.3 Thermal ▪ 14 GW renewables added including 12 GW solar, 1 GW
Slide 14: Project Execution: Pace continues in Fiscal 2027, delivery de-risked
Project Execution: Pace continues in Fiscal 2027, delivery de-risked 26% increase* in operating Continue to deliver at an ever portfolio YoY increasing scale One of the leading RE installations in the industry Solar ▪ 13.5 GW operating portfolio (incl. 0.1 GW/250 MWh BESS) ▪ 250 MW+ erected and in f
Slide 15: Continue to expand C&I footprint across India; 2.9 GW portfolio
Continue to expand C&I footprint across India; 2.9 GW portfolio 2.6 GW commissioned capacity present across five states ReNew’s leading presence in C&I segment in India 2.9 GW total capacity (2.6 GW commissioned); 330 MW commissioned YTD Amazon, Microsoft and Google collectively account for ~50% of
Slide 16: Manufacturing: profitable scale-up with full backward integration on track
Manufacturing: profitable scale-up with full backward integration on track Dholera cell plant (2.5 GW) Dholera module plant (2.4 GW) Jaipur module plant (4 GW) ▪ 40-60% of production expected to be used captively by the IPP business at arm’s length pricing Module and Cell Production (MW) ▪ Margins c
Slide 17: Finance Updates
Finance Updates 04 17
Slide 18: Strong Q1 FY27: capacity up 26% YoY, PAT up 16%
Strong Q1 FY27: capacity up 26%* YoY, PAT up 16% Financials metrics (INR bn) ▪ Total portfolio ~20.5 GW (incl. 1.7 GW BESS) 47.9 ▪ 13.5 GW (incl. 0.1 GW BESS) operating capacity; up 41.2 44.6 39.0 39.5 22% YoY and up 26% adjusted for asset sales 31.8 30.4 27.2 ▪ Wind: 5.6 GW, Solar: 7.8 GW, Hydro: 9
Slide 19: Disciplined in Capital allocation: Net Debt/EBITDA at 5.7x
Disciplined in Capital allocation: Net Debt/EBITDA at 5.7x^ Net Debt/TTM Adj. EBITDA under 6x Consistent improvement in Net Debt/EBITDA 750.0x (INR Bn) 697.1 (25.9) ▪ Disciplined approach to capital allocation and 700.0x (92.2) Operational focus on our capital recycling efforts, partly to be Project
Slide 20: ESG and Sustainability
ESG and Sustainability 05 20
Slide 21: Key Highlights from Q1 FY 2026-27
Key Highlights from Q1 FY 2026-27 – Release of ReNew’s Third Annual Integrated Report for FY 2025-26 Theme Beyond Boundaries • 25.6% reduction in Scope 1 and 2 GHG emissions from baseline • 617,167 m3 of water saved across initiatives. Environment Decarbonising Value Chains to Deliver Climate Value
Slide 22: Value Additions in Integrated Report FY 2025-26
Value Additions in Integrated Report FY 2025-26 Sections Value Additions 01 Hybrid Reporting Structure – Pillar + Capital wise reporting Transition from a pure capital based reporting structure to a Pillar and Capital based reporting structure in alignment with leading global standards 02 Complete r
Slide 23: Environment: Bolstering Our ESG Targets
Bolstering Our ESG Targets 2030 Targets 2040 Targets FY 2026-27 Completed Our ESG Targets Update for Q1 – FY 2026-27 Status To be validated as carbon neutral (scope 1 & 2) • Carbon neutrality verification for 150+ sites for FY 2025-26 completed (6 times in a row) Completed Environment annually till
Slide 24: Guidance
Guidance 06 24
Slide 25: Guidance reiterated
Guidance reiterated FY27 Total Committed Portfolio# INR 103-109 bn INR 134-140 bn Adjusted EBITDA (includes INR 10-12 bn from Manufacturing Run-rate Adjusted EBITDA* and INR 1-2 bn from Asset sale gains) MWs 1.6 - 2.4 GW 20.5 GW (incl. 1.7 GW BESS) Total Constructed Portfolio CFe 18-22 bn INR 32-36
Slide 26: Annexures
Annexures 07 26
Slide 27: Counterparty overview and asset breakdown
Counterparty overview and asset breakdown Total Portfolio Total 20.5 GW Technology Solar 12.0 GW Wind 6.7 GW BESS 1.7 GW Hydro 0.1 GW Commissioned U/C Commissioned U/C U/C Project Stage 7.0 GW 4.7 GW 5.6 GW 1.1 GW 1.6 GW Hydro (Commissioned) 0.1 GW BESS (Commissioned) 0.1 GW Centre State C&I Centre
Slide 28: DSO at ~54 days post Q1; money recovered from AP
DSO^ at ~54 days post Q1; money recovered from AP Consistent reduction in the DSO across quarters Ageing of billed receivables % share in total Days Contribution ▪ IPP DSO(4) 71 days at Jun’26, improved by 3 days YoY and 12 days Offtaker DSO in 2 years receivables to DSO (3) ▪ Manufacturing business
Slide 29: Wind PLF performance
Wind PLF performance All India Wind PLFs ReNew Wind PLF (FY23 – FY26) 35% ReNew PLFs fare better than national average ReNew Wind PLFs 30% FY24: 26.4% 28% FY25: 24.4% FY26: 26.3% Q1 FY27: 32.0% 41.3% 37.3% 38.3% 32.8% 32.0% 29.9% 15% 14% 28.4% 17.0% 18.1% 18.4% 18.3% 13.5% 17.3% Q1 Q2 Q3 Q4 Q1 Q2 Q3
Slide 30: Updated shareholders and diluted shares
Updated shareholders and diluted shares Economic Shareholding(1) Total Shares Outstanding For ReNew Energy Global PLC August’21 (Listing date) Current Shares (mn) Particulars 35.6% 21.4% 7% Class A Shares 246.2 Class B Shares(3) - 2.9% 3.6% 7.3% 53.4% Class C Shares 118.4 6.7% Class D Shares(3) - 13
Slide 31: Debt profile
Debt profile By Debt Type By Source(4) By Currency Others, 3% Secured Bank Loan Secured Loan from FI 30% Variable US Dollars, 29% 44% 33% Working Capital Loan INR , 64% Fixed Senior Overseas Green(1) 7% 56% Bonds INR Bonds 28% 6% By Project Type By Maturity By Repayment 0 - 2 years, 26%* Non Amortiz
Slide 32: Operating performance and seasonality
Operating performance and seasonality Q4 FY25 Q4 FY26 Q1 FY26 Q1 FY27 Wind Solar Wind Solar Wind Solar Wind Solar Operational capacity (GW) 4.9 5.7 5.6 6.8 5.0 6.1 5.6 7.3 Weighted average operational 4.9 5.7 5.5 6.1 4.9 5.9 5.6 7.0 capacity(1) (GW) Plant load factor (%)(4) 19% 26% 19% 23% 34% 25% 3
Slide 33: Segment Performance – Core and Manufacturing
Segment Performance – Core* and Manufacturing Quarter ended June 30, 2025 Quarter ended June 30, 2026 Particulars Core Mfg. Total Core Mfg. Total Revenue 25,919 13,078 38,998 28,206 16,375 44,581 Other operating income 191 - 191 308 - 308 Finance income 1,138 115 1,253 999 177 1,176 Other income 711
Slide 34: US$ 321 mn adj. EBITDA for Q1 FY27
US$ 321 mn adj. EBITDA for Q1 FY27 Adjusted Q1 FY27 Adjusted YoY % growth Q1 FY27 Q1 FY26 Adj. All figures in millions Q1 FY26 Adjustments Q1 FY27 Comments Vs (INR) (INR) (USD) (INR) (USD) (INR) (USD) Q1 FY27 Adj. Revenue from contracts with Includes INR 16.4 bn from our manufacturing 38,998 44,581
Slide 35: Consolidated balance sheet summary
Consolidated balance sheet summary Particulars As of As of As of March 31, June 30, June 30, 2026 2026 2026 INR mn INR mn US$ mn (Audited) (Unaudited) (Unaudited) Cash and cash equivalents, bank balances and investments 80,628 88,992 940 (including short and long term)(1) Property, plant and equipme
Slide 36: Standalone Manufacturing Financials
Standalone Manufacturing Financials All figures in millions For the quarter ended June 30, 2025 2026 2026 Particulars (INR) (INR) (US$) Total Income Revenue from Operations 16,114 19,359 205 Other income 146 335 4 (-) Expenses Cost of raw material and components consumed 9,629 10,552 111 Change in i
Slide 37: Adj. EBITDA reconciliation
Adj. EBITDA reconciliation All figures in millions For the three months ended June 30, 2025 2026 2026 (Unaudited) (Unaudited) (Unaudited) (INR) (INR) (US$) Profit/Loss for the period 5,131 5,953 63 Less: Finance income (1,252) (1,176) (12) Less: Share in profit of jointly controlled entities 2 - - A
Slide 38: Cash flow to equity reconciliation
Cash flow to equity reconciliation All figures in millions For the three months ended Jun 30, 2025 2026 2026 Particulars (Unaudited) (Unaudited) (Unaudited) (INR) (INR) (US$) Adjusted EBITDA 27,220 30,392 321 Add: Finance income 1,253 1,176 12 Less: Interest paid in cash (9,841) (12,944) (137) Less:
Slide 39: EBITDA Walk
EBITDA Walk Q1FY26 to Q1FY27 (INR Bn) 0.8 0.4 2.0 30.4 29.6 29.2 27.2 27.2 Q1 FY26 actual New Project EBITDA Manufacturing EBITDA Lower cost vs PY Q1 FY27 actual 39
Slide 40: Consistent positive cash profits
Consistent positive cash profits Cash flow generation outpacing revenue growth INR bn During Q1 FY27, we delivered: 160 144.5 140 131.1 ▪ Cash from operations INR 21.6 bn in Q1 FY27; 82% higher YoY 120 ▪ INR 11.9 bn in Q1 FY26 100 ▪ Cash profit* of INR 14.6 bn in Q1 80 FY27; 8% higher YoY 60 ▪ INR 1
Slide 41: ReNew's Green Bonds
ReNew’s Green Bonds Current Hedging Bond Issue Date Maturity Outstanding Coupon Security Structure Arrangement ($ mn) Mar 2027 Asset Backed RPVIN 27 Jan 2020 270 5.88% CCS (7NC2.5) Holdco Issuance Feb 2027 ATMF Call Option + Restricted Group IGPH 27 Feb 2021 368 4.00% (6NC3) CoS Issuance Jul 2028 Re
Slide 42: Influencing Communities With Sustainability Initiatives
Influencing Communities With Sustainability Initiatives Over 1.95 million lives impacted till 31st March 2026 Flagship Programs Site Specific & Employee Driven Programs Lighting Lives Water security An initiative focusing on last mile A Community-Corporate (CC) based partnership to address the need
Slide 43: Project level details (as of Aug 12, 2026)
Project level details (as of Aug 12, 2026) Project Capacity (MW) Location COD(8) Tariff (INR/kWh)(1) Offtaker(2) Tenure at COD Utility Scale Wind Energy Commissioned Projects (3,680 MW) 23.1MW: APPC Rate + escalation linked to State APPC tariff; 2.1MW: INR GUVNL (23.1), 23.1 MW: 25 years; Jasdan 25.
Slide 44: Project level details (as of Aug 12, 2026)
Project level details (as of Aug 12, 2026) Project Capacity (MW) Location COD(8) Tariff (INR/kWh)(1) Offtaker(2) Tenure at COD Utility Scale Wind Energy Commissioned Projects (3,680 MW) Ostro-Lahori 92.0 Madhya Pradesh Mar-16 5.92 MPPMCL 25 Ostro-Amba 66.0 Madhya Pradesh Mar-16 5.92 MPPMCL 25 Ostro-
Slide 45: Project level details (as of Aug 12, 2026)
Project level details (as of Aug 12, 2026) Project Capacity (MW) Location COD(8) Tariff (INR/kWh)(1) Offtaker(2) Tenure at COD Utility Scale Wind Energy Commissioned Projects (3,680 MW) Ostro - Kutch (SECI 1) 250.0 Gujarat Oct-18 3.46 PTC 25 SECI II 230.1 Gujarat Oct-19 2.64 SECI 25 GUVNL 35.0 Gujar
Slide 46: Project level details (as of Aug 12, 2026)
Project level details (as of Aug 12, 2026) Project Capacity (MW) Location COD(8) Tariff (INR/kWh)(1) Offtaker(2) Tenure at COD Utility Scale Solar Energy Commissioned Projects (4,621 MW) Mah Ph I 250.0 Rajasthan Oct-19 2.72 MSEDCL 25 MESCOM, BESCOM, GESCOM, Karnataka 40 40.0 Karnataka Oct-19 3.22 25
Slide 47: Project level details (as of Aug 12, 2026)
Project level details (as of Aug 12, 2026) Project Capacity (MW) Location COD(8) Tariff (INR/kWh)(1) Offtaker(2) Tenure at COD Utility Scale Solar Energy Committed Projects (1,300 MW) UPPCL 300.0 Rajasthan H1 FY28 2.56 UPPCL 25 PSPCL 100.0 Rajasthan H2 FY27 2.33 PSPCL 25 SECI XI 600.0 Rajasthan 24 m
Slide 48: Project level details (as of Aug 12, 2026)
Project level details (as of Aug 12, 2026) Project Type Capacity (MW) Location COD(8) Tariff (INR/kWh)(1) Offtaker(2) Tenure at COD Utility Scale Firm Power Committed Projects (5,357 MW) Solar 483 SJVN FDRE-I Rajasthan 24 months from PPA date* 4.38 SJVN 25 BESS 441 MW/1.7 GWh Solar 435 SECI Hybrid 6
Slide 49: Partner with us
Partner with us The Future of Energy to shape The Future of Energy. ©copyright: This presentation is the sole property of ReNew. Reproduction and distribution without written approval is prohibited.