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ReNew Energy Global
(NASDAQ:RNW)
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Rating:61Neutral
Price Target:
$7.00
▲(13.82% Upside)
Action:Reiterated
Date:08/19/26
The score is held back primarily by high leverage and persistently negative free cash flow despite improved reported profitability. Technicals are a clear positive with a strong uptrend, while valuation looks moderate (P/E ~22) without dividend support. Earnings call commentary adds some confidence via reiterated guidance and capital recycling, but meaningful execution and leverage risks remain.
Positive Factors
Portfolio and Capacity Growth
Rapid capacity expansion increases ReNew’s base of contracted renewable generation and supports future revenue growth. Its large committed portfolio and pipeline also strengthen scale, bidding capability and long-term positioning in India’s expanding clean-power market.
Negative Factors
High Leverage
The highly leveraged capital structure reduces financial flexibility and increases sensitivity to refinancing conditions and interest costs. With substantial development needs still ahead, elevated debt could constrain investment, pressure returns and make deleveraging dependent on asset sales.
Read all positive and negative factors
Positive Factors
Negative Factors
Portfolio and Capacity Growth
Rapid capacity expansion increases ReNew’s base of contracted renewable generation and supports future revenue growth. Its large committed portfolio and pipeline also strengthen scale, bidding capability and long-term positioning in India’s expanding clean-power market.
Read all positive factors
ReNew Energy Global Key Performance Indicators (KPIs)
ReNew Energy Global (RNW) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$2.49B
Dividend YieldN/A
Average Volume (3M)1.32M
Price to Earnings (P/E)22.4
Beta (1Y)0.47
Revenue Growth14.06%
EPS Growth11.99%
CountryUS
Employees4,720
SectorUtilities
Sector Strength65
IndustryRenewable Utilities
Share Statistics
EPS (TTM)31.12
Shares Outstanding246,038,930
10 Day Avg. Volume1,314,682
30 Day Avg. Volume1,320,886
Financial Highlights & Ratios
PEG Ratio0.08
Price to Book (P/B)1.26
Price to Sales (P/S)1.12
P/FCF Ratio-2.02
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$7.02Price Target Upside14.15% Upside
Rating ConsensusHold
Number of Analyst Covering1
EPS Forecast (FY)24.38
Revenue Forecast (FY)$157.50B
ReNew Energy Global Business Overview & Revenue Model
Company Description
ReNew Energy Global Plc specializes in generating clean, renewable power across India. Its core business segments are wind power and solar power. The company adopts an integrated approach, overseeing the development, construction, ownership, and o...
How the Company Makes Money
ReNew primarily makes money by generating renewable electricity (mainly from wind and solar assets) and selling that power to customers under long-term power purchase agreements (PPAs) or similar contracted arrangements. These contracts typically ...
ReNew Energy Global Earnings Call Summary
Earnings Call Date:Aug 18, 2026
(Q1-2027)
| % Change Since: |
Next Earnings Date:Nov 17, 2026
Earnings Call Sentiment Neutral
The call presented a balanced picture: strong operational growth (13.5 GW operating capacity, 26% YoY portfolio growth), solid financial results (revenue +14% YoY, adjusted EBITDA +12% YoY, PAT +16% YoY), profitable manufacturing and active capital recycling were material positives. However, near‑term operational headwinds from grid curtailment (solar PLF decline), margin pressure in manufacturing as new cell capacity comes online, elevated leverage (net debt ~INR 671 billion, net debt/EBITDA ~5.7x), and some uncertainty around curtailment compensation and the take‑private timeline temper the outlook. Overall, positives are meaningful but counterbalanced by notable risks and uncertainties in execution and market dynamics.Positive Updates
Strong Portfolio and Capacity Growth
Operating capacity at 13.5 GW, up 26% year‑over‑year (adjusted) and 22% on a net basis; total committed portfolio 20.5 GW and total pipeline ~27 GW. Commissioned >1 GW year‑to‑date including >600 MW in Q1 and ~2.8 GW commissioned over trailing 12 months.
Negative Updates
Grid Curtailment and Solar PLF Headwinds
Solar PLF declined ~220 basis points YoY in the quarter; management attributed roughly half the decline to grid curtailment (notably temporary connectivity/curtailment in Rajasthan) and half to adverse weather (more cloudy days), with potential persistence into near quarters until grid build‑out is resolved.
Read all updates
Q1-2027 Updates
Positive
Negative
Strong Portfolio and Capacity Growth
Operating capacity at 13.5 GW, up 26% year‑over‑year (adjusted) and 22% on a net basis; total committed portfolio 20.5 GW and total pipeline ~27 GW. Commissioned >1 GW year‑to‑date including >600 MW in Q1 and ~2.8 GW commissioned over trailing 12 months.
Read all positive updates
Company Guidance
ReNew reiterated FY‑27 consolidated adjusted EBITDA guidance of INR 103–109 billion (which includes INR 10–12 billion from manufacturing and INR 1–2 billion from asset sales), expects to construct 1.6–2.4 GW in FY‑27 and to generate INR 18–22 billion of cash flow to equity this year; for its total committed renewable portfolio (≈20.5 GW, including 1.7 GW of BESS, and noting the ~1 GW of assets under signed sale awaiting closing) management expects a run‑rate adjusted EBITDA of INR 134–140 billion and run‑rate cash flow to equity of INR 32–36 billion (assuming normal weather and excluding manufacturing contribution).ReNew Energy Global Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
38
Negative
Cash Flow
29
Negative
| Breakdown | TTM | Mar 2026 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 138.75B | 139.10B | 97.06B | 81.32B | 78.22B | 59.35B |
| Gross Profit | 85.86B | 81.41B | 88.47B | 77.47B | 71.27B | 59.02B |
| EBITDA | 102.53B | 107.44B | 81.08B | 68.75B | 57.45B | 37.98B |
| Net Income | 11.25B | 10.93B | 3.81B | 3.40B | -4.82B | -16.08B |
Balance Sheet | ||||||
| Total Assets | 1.09T | 1.04T | 959.80B | 873.93B | 746.49B | 641.34B |
| Cash, Cash Equivalents and Short-Term Investments | 87.71B | 75.32B | 81.34B | 79.67B | 80.63B | 79.27B |
| Total Debt | 806.18B | 764.75B | 732.28B | 655.66B | 536.58B | 447.71B |
| Total Liabilities | 937.67B | 893.64B | 828.69B | 752.24B | 628.09B | 514.97B |
| Stockholders Equity | 131.23B | 123.37B | 112.60B | 105.22B | 106.85B | 118.44B |
Cash Flow | ||||||
| Free Cash Flow | -54.95B | -77.18B | -26.09B | -84.91B | -24.70B | -47.44B |
| Operating Cash Flow | 55.39B | 23.15B | 67.56B | 68.93B | 66.67B | 42.39B |
| Investing Cash Flow | -116.47B | -112.10B | -74.16B | -162.53B | -79.99B | -124.75B |
| Financing Cash Flow | 46.93B | 69.20B | 19.98B | 82.42B | 23.02B | 90.04B |
ReNew Energy Global Technical Analysis
Positive
6.15
Price Trends
6.27
Positive
5.81
Positive
5.93
Positive
Market Momentum
0.17
Negative
66.81
Neutral
95.82
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For RNW, the sentiment is Positive. The current price of 6.15 is below the 20-day moving average (MA) of 6.36, below the 50-day MA of 6.27, and above the 200-day MA of 5.93, indicating a bullish trend. The MACD of 0.17 indicates Negative momentum. The RSI at 66.81 is Neutral, neither overbought nor oversold. The STOCH value of 95.82 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for RNW.
ReNew Energy Global Risk Analysis
ReNew Energy Global disclosed 63 risk factors in its most recent earnings report. ReNew Energy Global reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
ReNew Energy Global Peers Comparison
UnderperformOutperform
Sector (66)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
66 Neutral | $17.65B | 18.10 | 5.60% | 3.62% | 6.62% | 11.55% | |
62 Neutral | $6.40B | -1.35 | 243.54% | 3.84% | -2.38% | -301.98% | |
61 Neutral | $2.49B | 22.43 | 8.54% | ― | 14.06% | 11.99% | |
61 Neutral | $7.01B | 44.93 | 1.96% | 5.69% | 7.99% | 22.73% | |
61 Neutral | $4.09B | 24.90 | 6.94% | 0.85% | 48.97% | 3.43% | |
42 Neutral | $2.33B | -19.65 | -20.75% | ― | 7.46% | -329.43% |
* Utilities Sector Average
RNW
ReNew Energy Global
6.80
-0.91
-11.75%
CWEN
Clearway Energy
33.66
4.86
16.87%
BEPC
Brookfield Renewable
34.06
1.90
5.92%
FLNC
Fluence Energy
12.07
4.59
61.36%
EE
Excelerate Energy, Inc. Class A
38.14
14.68
62.58%
ReNew Energy Global Corporate Events
ReNew Energy Global Sets August 22 Expiration and Nasdaq Delisting for RNWWW Warrants
Aug 19, 2026
ReNew Energy Global plc said on August 19, 2026 that its Nasdaq-listed warrants under the symbol RNWWW will expire at 5:00 p.m. New York City time on August 22, 2026 under the existing warrant agreement. The company confirmed it will not extend th...
ReNew Energy Global Posts Strong Q1 FY27 Results and Reaffirms FY27 Guidance
Aug 18, 2026
On August 18, 2026, ReNew reported unaudited results for the quarter ended June 30, 2026, showing robust growth in capacity and earnings despite slightly weaker plant load factors. Commissioned capacity rose 17% year-on-year to about 13.1 GW and h...
ReNew Energy Global Sets September 16, 2026 Date for Fifth AGM in London
Aug 17, 2026
ReNew Energy Global Plc announced on August 17, 2026, that it will hold its fifth Annual General Meeting of shareholders in London on September 16, 2026. Shareholders of record as of 23:59 Eastern Daylight Time on August 18, 2026, will be entitled...
ReNew Energy Global Agrees to CPP Investments–Led Buyout at US$7.02 Per Share
Aug 11, 2026
On August 11, 2026, ReNew Energy Global announced it had entered into a transaction agreement with Canada Pension Plan Investment Board and founder-chairman Sumant Sinha to acquire all shares they do not already own for US$7.02 per share in cash. ...
ReNew Energy Global to Divest 1,055 MW of Indian Solar Assets to CESC Unit
Aug 10, 2026
On August 10, 2026, ReNew Energy Global Plc announced it had agreed to sell 1,055 MW of solar projects in Rajasthan and Karnataka to Purvah Green Power Private Limited, a subsidiary of CESC Limited, for an enterprise value of about INR 50.8 billio...
ReNew Energy Global Reviews Consortium’s Best-and-Final US$7.02 Takeover Proposal
Aug 7, 2026
ReNew Energy Global Plc has received a confirmatory letter dated August 6, 2026 from Canada Pension Plan Investment Board and founder‑CEO Sumant Sinha, reaffirming their July 27, 2026 proposal to acquire all ReNew shares they do not already ...
ReNew Energy Global Receives Final Take-Private Proposal at 12.5% Premium
Jul 28, 2026
On July 28, 2026, ReNew Energy Global said it had received a best and final non-binding proposal dated July 27, 2026 from a consortium comprising Canada Pension Plan Investment Board and founder-chairman Sumant Sinha to acquire all shares they do ...
ReNew Energy Global Receives US$6.75-Per-Share Take-Private Proposal from CPP Investments and CEO
May 29, 2026
ReNew Energy Global Plc, a leading India-focused renewable power producer and decarbonization solutions provider listed on Nasdaq, operates one of the world’s largest clean energy portfolios at around 20.2 GW, including utility-scale storage...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.