New Delhi: Nasdaq-listed ReNew Energy Global Plc on Monday reported a fivefold year-on-year jump in its profit in the quarter ended March.
The net profit for the fourth quarter of FY25 stood at ₹313.7 crore ($37 million) compared with ₹60.9 crore ($7 million) a year earlier, according to the company’s filing to the US Securities and Exchange Commission.
The increase was primarily “driven by higher operating revenues, external sales from our module and cell manufacturing operations, and lower tax incidence, partially offset by higher scale linked financing costs & depreciation, including costs attributable to external sales from our module and cell manufacturing operations, and lower resource availability,” the filing said.
ReNew Energy’s total income during the period under review was ₹3,439.1 crore, nearly 39% higher than ₹2,477.6 crore a year earlier. The total revenue includes external sales from the module and cell manufacturing operations worth ₹991.4 crore.
For the financial year 2024-25, the company reported a total income of ₹10,907 crore, compared with ₹9,653.1 crore in FY24.
Manufacturing capability expands
As of 31 March 2025, ReNew Energy said its portfolio comprised 17.3 gigawatts (GW) of green energy capacity, compared to 13.5 GW a year earlier. In the ongoing financial year (FY26), the company has signed 1.2 GW of power purchase agreements, taking the total portfolio to 18.5 GW along with a 1.1 GWh battery energy storage system. In addition, the company has 6.5 GW of solar module manufacturing and 2.5 GW of cell manufacturing.
On the proposed delisting, the company said that a special committee led by Manoj Singh, the lead independent director and comprising six independent non-executive ReNew directors, would consider the non-binding proposal and the active discussions are ongoing with the consortium of Abu Dhabi Future Energy Company PJSC-Masdar, Canada Pension Plan Investment Board, Platinum Hawk C 2019 RSC Ltd (trustee for the Platinum Cactus A 2019 Trust, a wholly owned subsidiary of the Abu Dhabi Investment Authority), and Sumant Sinha, the founder, chairman and CEO of ReNew. The consortium had offered to acquire the listed shares of ReNew.
On 11 December 2024, the company announced that it had received the non-binding proposal to acquire the entire share capital not already owned by members of the consortium for $7.07 per share.
The special committee has retained an independent financial advisor, Rothschild & Co, and independent legal counsel Linklaters LLP, the statement said. “Active discussions with the Consortium are ongoing and the Special Committee will provide an update to the market on the outcome as soon as reasonably practicable.”
The statement said the ReNew executive management’s primary focus will be to continue to ensure the effective management of the company, in addition to helping evaluate the process as required by the special committee.
