ReNew Energy Global PLC reports its fiscal fourth quarter and full-year results before the market opens on Sunday, May 18. Investors are watching whether India's largest renewable energy company can maintain the operational momentum that drove a guidance increase just three months ago.
Analysts expect an EPS loss of INR 9.88 on revenue of INR 29.03 billion for the March quarter, a sharp reversal from the third quarter's positive EPS of INR 0.16.
The third quarter saw strong year-over-year revenue growth and a sharp reduction in net loss, prompting ReNew to raise its full-year adjusted EBITDA guidance. Yet the fourth-quarter revenue forecast represents a 15.59% year-over-year decline.
Analysts remain bullish, rating ReNew a strong buy with a mean price target of $7.63, implying 37.67% upside from the current $5.54 share price.
What Investors Are Watching
The key question is whether ReNew can reaffirm or exceed the raised full-year guidance it issued in February. Management increased its adjusted EBITDA target to between INR 90 billion and INR 93 billion.
Investors will also focus on the company's battery energy storage system (BESS) strategy. ReNew's portfolio includes 1.7 GW of BESS capacity, and 2026 is expected to be the year when storage-linked projects move into execution.
Curtailment remains an industry-wide challenge. Transmission project delays and curtailment are impacting the sector, with curtailment levels typically running 10-20%.
Finally, leverage reduction remains a strategic priority. Management aims to reduce headline leverage from 6.7x to 5.5x by 2028-2030, supported by continued asset sales.
ReNew's results will offer a window into both the company's ability to execute its storage-heavy growth strategy and the broader health of India's renewable sector.
