RNW

MKT CAP:$2B

ReNew Energy Global Plc

Market Cap

$2B

Utilities·Renewable Utilities·🇬🇧 United Kingdom·NASDAQ

Utilities·Renewable·🇬🇧·NASDAQ

Stock Price

$5.19-$0.67 (-11.43%)

Apr 21, 2026

Company Details

ReNew Energy Global Plc generates power through non-conventional and renewable energy sources in India. The company operates through Wind Power and Solar Power segments. It develops, builds, owns, and operates utility scale wind and solar e...

CEO

Sumant Sinha

IPO Date

Feb 1, 2021

Website

www.renewpower.in

Key Metrics TTM

Revenue

$611M

+33.4% YoY

Net Income

-$67M

EPS (Diluted)

-$0.16

Free Cash Flow

-$84M

Revenue / Share

$1.68

Gross Margin

80.8%

Operating Margin

70.9%

Net Margin

-10.9%

FCF Margin

-13.7%

P/S

3.1x

P/E

—

Earnings Reports

Q3 2025

Feb 13, 2026

$269MEPS -$0.01

Q1 2020

Jun 29, 2020

$145MEPS -$0.01

Q4 2019

Mar 30, 2020

$108M+26.3%EPS -$0.07

Q3 2019

Dec 30, 2019

$88M+3.0%EPS -$0.07

Q4 2018

Mar 30, 2019

$86M+41.9%EPS -$0.03

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 16	$41M	$41M	$27M
Q2 16	$41M	$41M	$27M
Q3 16	$28M	$28M	$14M
Q4 16	$28M	$28M	$14M
Q1 17	$76M	$75M	$48M
Q2 17	$76M	$75M	$48M
Q3 17	$49M	$49M	$31M
Q4 17	$60M	$56M	$24M
Q1 18	$143M	$143M	$105M
Q2 18	$143M	$143M	$105M
Q3 18	$86M	$85M	$39M
Q4 18	$86M	$86M	$75M
Q3 19	$88M	$88M	$87M
Q4 19	$108M	$108M	$105M
Q1 20	$145M	$145M	$142M
Q3 25	$269M	$152M	$99M

Valuation

Quarter	P/S	P/E
Q1 16	—	—
Q2 16	—	—
Q3 16	—	—
Q4 16	13.5x	522.9x
Q1 17	10.8x	257.7x
Q2 17	9.0x	171.0x
Q3 17	8.2x	737.2x
Q4 17	7.2x	589.5x
Q1 18	5.7x	89.1x
Q2 18	4.7x	48.2x
Q3 18	4.3x	66.4x
Q4 18	4.1x	66.8x
Q3 19	4.7x	—
Q4 19	5.1x	—
Q1 20	4.4x	—
Q3 25	3.1x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 16	$19M	-$71M
Q2 16	$19M	-$71M
Q3 16	$29M	-$242M
Q4 16	$29M	-$242M
Q1 17	$23M	-$92M
Q2 17	$23M	-$92M
Q3 17	$89M	-$114M
Q4 17	$76M	-$47M
Q1 18	$58M	-$69M
Q2 18	$58M	-$69M
Q3 18	$92M	-$106M
Q4 18	$110M	-$88M
Q3 19	$127M	$22M
Q4 19	$120M	$71M
Q1 20	$67M	$28M
Q3 25	$114M	-$205M

Capital Expenditures

Quarter	CapEx
Q1 16	$90M
Q2 16	$90M
Q3 16	$270M
Q4 16	$270M
Q1 17	$115M
Q2 17	$115M
Q3 17	$203M
Q4 17	$123M
Q1 18	$127M
Q2 18	$127M
Q3 18	$198M
Q4 18	$199M
Q3 19	$105M
Q4 19	$49M
Q1 20	$39M
Q3 25	$319M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 17	+85.7%	+95.4%
Q2 17	+85.7%	+95.4%
Q3 17	+71.3%	+27.6%
Q4 17	+112.8%	+156.3%
Q1 18	+88.2%	+35.1%
Q2 18	+88.2%	+35.1%
Q3 18	+76.2%	+161.3%
Q4 18	+41.9%	-70.6%
Q3 19	-38.4%	-97.2%
Q4 19	-24.4%	-91.0%
Q1 20	+69.7%	-92.5%
Q3 25	+213.9%	+1493.7%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 16	$345.1K	0.8%
Q2 16	$345.1K	0.8%
Q3 16	$1M	4.3%
Q4 16	$1M	4.3%
Q1 17	$2M	2.2%
Q2 17	$2M	2.2%
Q3 17	-$716.4K	-1.5%
Q4 17	$2M	2.7%
Q1 18	$515.0K	0.4%
Q2 18	$515.0K	0.4%
Q3 18	$764.6K	0.9%
Q4 18	$764.6K	0.9%
Q3 19	$796.4K	0.9%
Q4 19	$509.7K	0.5%
Q1 20	$430.1K	0.3%
Q3 25	$0	0.0%

OpEx Breakdown

Quarter	G&A	S&M	SG&A
Q1 16	—	—	$785.8K
Q2 16	—	—	$785.8K
Q3 16	$2M	$43.8K	—
Q4 16	$2M	$43.8K	—
Q1 17	—	—	$2M
Q2 17	—	—	$2M
Q3 17	$3M	$434.7K	—
Q4 17	$2M	$64.4K	—
Q1 18	$3M	$127.4K	—
Q2 18	$3M	$127.4K	—
Q3 18	$3M	$85.0K	—
Q4 18	$2M	$85.0K	—
Q3 19	$807.1K	$106.2K	—
Q4 19	$3M	$233.6K	—
Q3 25	$14M	—	—

War Chest

Quarter	Cash	Short-term Investments	Total
Q4 21	$301M	$540M	$842M
Q1 22	$9M	$0	$9M
Q2 22	$272M	$348M	$620M
Q3 22	$80M	$500M	$580M
Q4 22	$405M	$451M	$856M
Q1 23	$9M	$228.2K	$9M
Q2 23	$11M	$51.2K	$11M
Q3 23	$594M	$625M	$1.2B
Q4 23	$287M	$559M	$846M
Q1 24	$783M	$0	$783M
Q2 24	$191M	$657M	$848M
Q3 24	$228M	$686M	$914M
Q4 24	$429M	$435M	$864M
Q1 25	$353M	$600M	$953M
Q2 25	$433M	$746M	$1.2B
Q3 25	$884M	$128M	$1.0B

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 16	264M	—	—
Q2 16	289M	+9.4%	—
Q3 16	338M	+17.2%	—
Q4 16	338M	0.0%	—
Q1 17	338M	0.0%	+28.3%
Q2 17	338M	0.0%	+17.2%
Q3 17	338M	0.0%	0.0%
Q4 17	342M	+1.1%	+1.1%
Q1 18	386M	+12.7%	+13.9%
Q2 18	386M	0.0%	+13.9%
Q3 18	380M	-1.5%	+12.3%
Q4 18	380M	0.0%	+11.0%
Q3 19	488M	+28.4%	+26.5%
Q4 19	480M	-1.6%	+24.5%
Q1 20	381M	-20.7%	+0.2%
Q3 25	364M	-4.3%	-4.1%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 16	—	—
Q2 16	—	—
Q3 16	—	—
Q4 16	—	—
Q1 17	—	—
Q2 17	—	—
Q3 17	—	—
Q4 17	—	—
Q1 18	—	—
Q2 18	—	—
Q3 18	—	—
Q4 18	—	—
Q3 19	—	—
Q4 19	—	—
Q1 20	—	—
Q3 25	$62.1K	4K

Revenue / Employee