ReNew Announces Results for the Second Quarter for Fiscal Year 2025 (Q2 FY25), ended September 30, 2024
2024年11月20日 - 6:30AM
ビジネスワイヤ（英語）
31% increase in Profit
After Tax YoY; reiterates FY25 MW and EBITDA
guidance
ReNew Energy Global Plc (“ReNew” or “the Company”) (Nasdaq: RNW,
RNWWW), a leading decarbonization solutions company, today
announced its unaudited consolidated IFRS results for the
three-month period ended September 30, 2024.
Operating Highlights:
- As of September 30, 2024, the Company’s portfolio consisted of
~15.6 GWs, compared to ~13.8 GWs as of September 30, 2023.
Subsequent to the end of the quarter, the Company signed PPAs for
~0.7 GWs of capacity taking the portfolio to ~16.3 GWs.
- The Company’s commissioned capacity has increased 21.8%
year-over-year to ~10.1 GWs as of September 30, 2024. Subsequent to
the end of the quarter, the Company commissioned 250 MWs of solar
capacity, taking the total commissioned capacity to ~10.4 GWs.
- Total Income (or total revenue) for Q2 FY25 was INR 29,887
million (US$ 357 million), compared to INR 28,632 million (US$ 342
million) for Q2 FY24. Net profit for Q2 FY25 was INR 4,939 million
(US$ 59 million) compared to INR 3,771 million (US$ 45 million) for
Q2 FY24. Adjusted EBITDA for Q2 FY25 was INR 24,209 million (US$
289 million), as against INR 21,298 million (US$ 254 million) for
Q2 FY24.
- Total Income (or total revenue) for H1 FY25 was INR 54,713
million (US$ 653 million), compared to INR 53,291 million (US$ 636
million) for H1 FY24. Net profit for H1 FY25 was INR 5,333 million
(US$ 64 million) compared to INR 6,754 million (US$ 81 million) for
H1 FY24. Adjusted EBITDA for H1 FY25 was INR 43,188 million (US$
516 million), as against INR 39,897 million (US$ 476 million) for
H1 FY24.
Note: the translation of Indian rupees into U.S. dollars has
been made at INR 83.76 to US$ 1.00.
FY25 Guidance
The Company reiterates its FY25 guidance and expects to complete
construction of between 1,900 to 2,400 MWs by the end of Fiscal
Year 2025. The Company’s Adjusted EBITDA and Cash Flow to Equity
guidance for FY25 are subject to weather being similar to FY24. The
Company anticipates continued net gains on sales of assets, which
is part of ReNew’s capital recycling strategy, and has included INR
1-2 billion of gains in the guidance below:
Financial Year
Adjusted EBITDA
Cash Flow to equity
(CFe)
FY25
INR 76 – INR 82 billion
INR 12 – INR 14 billion
The Company also reiterates its long-term and run rate guidance
provided in Q4 FY24 results.
Note: the translation of Indian rupees into U.S. dollars has
been made at INR 83.76 to US$ 1.00.
Webcast and Conference call information
A conference call has been scheduled to discuss the earnings
results at 8:30 AM EST (7:00 PM IST) on November 20, 2024. The
conference call can be accessed live at:
https://edge.media-server.com/mmc/p/ejgbgmri or by phone
(toll-free) by dialing:
US/ Canada: (+1) 855 881 1339 France: (+33) 0800 981 498
Germany: (+49) 0800 182 7617 Hong Kong: (+852) 800 966 806 India:
(+91) 0008 0010 08443 Japan: (+81) 005 3116 1281 Singapore: (+65)
800 101 2785 Sweden: (+46) 020 791 959 UK: (+44) 0800 051 8245 Rest
of the world: (+61) 7 3145 4010 (toll)
An audio replay will be available following the call on our
investor relations website at
https://investor.renew.com/news-events/events
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, including statements regarding our future financial and
operating guidance, operational and financial results such as
estimates of nominal contracted payments remaining and portfolio
run rate, and the assumptions related to the calculation of the
foregoing metrics. The risks and uncertainties that could cause our
results to differ materially from those expressed or implied by
such forward-looking statements include: the availability of
additional financing on acceptable terms; changes in the commercial
and retail prices of traditional utility generated electricity;
changes in tariffs at which long-term PPAs are entered into;
changes in policies and regulations including net metering and
interconnection limits or caps; the availability of rebates, tax
credits and other incentives; the availability of solar panels and
other raw materials; our limited operating history, particularly as
a relatively new public company; our ability to attract and retain
relationships with third parties, including solar partners; our
ability to meet the covenants in our debt facilities;
meteorological conditions; supply disruptions; solar power
curtailments by state electricity authorities and such other risks
identified in the registration statements and reports that our
Company has filed or furnished with the U.S. Securities and
Exchange Commission, or SEC, from time to time. Portfolio
represents the aggregate megawatts capacity of solar power plants
pursuant to PPAs, signed or allotted or where we have received a
letter of award. There is no assurance that we will be able to sign
a PPA even though we have received a letter of award. All
forward-looking statements in this press release are based on
information available to us as of the date hereof, and we assume no
obligation to update these forward-looking statements.
About ReNew
Unless the context otherwise requires, all references in this
press release to “we,” “us,” or “our” refers to ReNew and its
subsidiaries.
ReNew is a leading decarbonization solutions company listed on
Nasdaq (Nasdaq: RNW, RNWWW). ReNew's clean energy portfolio of
~16.3 GWs on a gross basis as of November 19, 2024, is one of the
largest globally. In addition to being a major independent power
producer in India, we provide end-to-end solutions in a just and
inclusive manner in the areas of clean energy, value-added energy
offerings through digitalization, storage, and carbon markets that
increasingly are integral to addressing climate change. For more
information, visit renew.com and follow us on LinkedIn, Facebook
and Twitter.
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version on businesswire.com: https://www.businesswire.com/news/home/20241119922936/en/
Press Enquiries Shilpa Narani |
shilpa.narani@renew.com
Investor Enquiries Anunay Shahi, Nitin Vaid |
ir@renew.com
ReNew Energy Global (NASDAQ:RNWWW)
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