What ReNew Energy Global (RNW)'s Scale‑Driven Profit Rebound Means For Shareholders

• In the past week, ReNew Energy Global Plc reported Q3 FY26 results showing revenue rising to ₹31,372 million from ₹21,198 million a year earlier, while its quarterly net loss narrowed sharply to ₹198 million and EPS from continuing operations improved to ₹0.16 from a loss per share of ₹9.47.
• For the nine months to December 31, 2025, the company’s revenue climbed to ₹111,087 million and net income reached ₹9,608 million, alongside a larger operational portfolio of roughly 11.7 GW and expanded solar manufacturing, underscoring how scale and vertical integration are reshaping its earnings profile.
• With Q3 results showing sharply improved profitability and expanding renewable capacity, we’ll now assess how this update influences ReNew’s investment narrative.

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ReNew Energy Global Investment Narrative Recap

To own ReNew, you need to believe in a long-term buildout of Indian renewables, where scale, long-term PPAs and manufacturing integration support more resilient earnings. The key near term catalyst remains execution on its growing project and manufacturing pipeline, while the biggest risk is that intensifying competition and aggressive bidding compress margins. The latest Q3 results, with higher revenue and sharply reduced losses, help the story, but do not remove those competitive and bidding pressures.

The most relevant recent development is ReNew’s move to expand solar manufacturing capacity, including plans for an additional 4 GW TOPCon facility. This ties directly into the catalyst of deeper vertical integration, which can support margins and lower input costs if utilization holds up. At the same time, it intersects with the risk that today’s strong manufacturing margins, helped by high third party sales and procurement benefits, may not be repeatable across cycles.

Yet beneath the improved Q3 earnings, investors still need to watch how more aggressive project bidding could quietly pressure ReNew’s margins and cash flows over time…

Read the full narrative on ReNew Energy Global (it's free!)

ReNew Energy Global's narrative projects ₹195.5 billion revenue and ₹15.7 billion earnings by 2028. This requires 20.0% yearly revenue growth and a ₹7.0 billion earnings increase from ₹8.7 billion today.

Uncover how ReNew Energy Global's forecasts yield a $7.95 fair value, a 44% upside to its current price.

Exploring Other Perspectives

Some of the most optimistic analysts were assuming revenue could reach about ₹207,400,000,000 with margins rising to around 10.7 percent, which is far more upbeat than the baseline view and may look different once ReNew’s latest Q3 profitability and manufacturing expansion are fully reflected in those expectations.

Explore another fair value estimate on ReNew Energy Global - why the stock might be worth just $7.95!

The Verdict Is Yours

Don't just follow the ticker - dig into the data and build a conviction that's truly your own.

• A great starting point for your ReNew Energy Global research is our analysis highlighting 4 key rewards and 3 important warning signs that could impact your investment decision.
• Our free ReNew Energy Global research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate ReNew Energy Global's overall financial health at a glance.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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