Revenue growth remains highly volatile, fluctuating from a 71.0% peak in 2025Q1 to 11.2% by 2025Q4, while operating margins have compressed significantly from 64.6% in 2024Q2 to 29.6% in 2025Q4.
| Revenue | 139.1B | 97.06B | 81.32B | 78.22B | 59.35B | 48.19B | 48.41B | 43.14B | 24.62B | 13.07B | 6.14B | 2.91B | 393.99M |
| Revenue Growth % | 43.31% | 19.36% | 3.96% | 31.8% | 23.16% | -0.46% | 12.21% | 75.26% | 88.3% | 113.05% | 110.86% | 638.59% | - |
| Cost of Revenue | 57.69B | 8.59B | 3.84B | 6.96B | 324M | 426M | 530M | 81M | 522M | 3.94M | 0 | 0 | 3.55M |
| Gross Profit | 81.41B | 88.47B | 77.47B | 71.27B | 59.02B | 47.76B | 47.88B | 43.06B | 24.09B | 13.07B | 6.14B | 2.91B | 390.44M |
| Gross Margin % | 58.52% | 91.15% | 95.27% | 91.11% | 99.45% | 99.12% | 98.91% | 99.81% | 97.88% | 99.97% | 100% | 100% | 99.1% |
| Gross Profit Growth % | -7.98% | 14.19% | 8.71% | 20.74% | 23.58% | -0.25% | 11.19% | 78.72% | 84.37% | 112.99% | 110.86% | 645.31% | - |
| Operating Expenses | 21.1B | 36.56B | 31.53B | 28.86B | 24.83B | 17.84B | 15.47B | 12.62B | 9.99B | 5.44B | 1.76B | 1.37B | 298.54M |
| Other Operating Expenses | - | - | - | - | - | - | - | - | - | - | - | - | - |
| EBITDA | 88.44B | 72.58B | 63.53B | 58.31B | 47.95B | 41.95B | 43.65B | 40.87B | 21.3B | 11.51B | 5.51B | 2.58B | 261.02M |
| EBITDA Margin % | 63.58% | 74.77% | 78.13% | 74.55% | 80.8% | 87.05% | 90.16% | 94.73% | 86.54% | 88.05% | 89.87% | 88.53% | 66.25% |
| EBITDA Growth % | 21.85% | 14.24% | 8.95% | 21.6% | 14.33% | -3.9% | 6.8% | 91.84% | 85.09% | 108.73% | 114.06% | 886.94% | - |
| Depreciation & Amortization | 28.13B | 20.67B | 17.58B | 15.9B | 13.76B | 12.03B | 11.24B | 9.5B | 7.11B | 3.82B | 2.07B | 1.01B | 166.4M |
| D&A / Revenue % | 20.23% | 21.3% | 21.62% | 20.33% | 23.19% | 24.96% | 23.22% | 22.01% | 28.87% | 29.19% | 33.81% | 34.6% | 42.23% |
| Operating Income (EBIT) | 60.3B | 51.91B | 45.95B | 42.41B | 34.19B | 29.92B | 32.41B | 31.37B | 14.2B | 7.69B | 3.44B | 1.57B | 94.62M |
| Operating Margin % | 43.35% | 53.48% | 56.5% | 54.22% | 57.61% | 62.09% | 66.95% | 72.72% | 57.67% | 58.85% | 56.06% | 53.93% | 24.02% |
| Operating Income Growth % | 16.18% | 12.97% | 8.34% | 24.04% | 14.27% | -7.68% | 3.3% | 120.99% | 84.52% | 123.67% | 119.19% | 1558.55% | - |
| Interest Expense | 64.98B | 598.31M | 43.03B | 546.69M | 529M | 475M | 33.44B | 26.27B | 0 | 0 | 0 | 0 | 0 |
| Interest Coverage | 0.93x | 100.96x | 1.19x | 76.00x | 45.77x | 64.43x | 0.98x | 1.19x | - | - | - | - | - |
| Interest / Revenue % | 46.71% | 0.62% | 52.91% | 0.7% | 0.89% | 0.99% | 69.07% | 60.88% | 0% | 0% | 0% | 0% | 0% |
| Non-Operating Income | -1000K | -1000K | -1000K | -1000K | -1000K | -1000K | -1000K | -1000K | -1000K | -1000K | -1000K | -1000K | 1000K |
| Pretax Income | 14.33B | 10.03B | 8.14B | -2.47B | -12.23B | -5.13B | -623M | 4.93B | 841M | 1.02B | 1.01B | 124.52M | 157.4M |
| Pretax Margin % | 10.3% | 10.34% | 10.01% | -3.16% | -20.61% | -10.64% | -1.29% | 11.44% | 3.42% | 7.78% | 16.46% | 4.28% | 39.95% |
| Income Tax | 3.4B | 5.44B | 4B | 2.56B | 3.9B | 2.9B | 2.16B | 1.82B | 321M | 508.31M | 97.01M | 124.6M | 87.75M |
| Effective Tax Rate % | 23.75% | 54.25% | 49.07% | -103.6% | -31.84% | -56.63% | -346.39% | 36.88% | 38.17% | 49.95% | 9.6% | 100.06% | 55.75% |
| Net Income | 10.93B | 3.81B | 3.4B | -4.82B | -16.08B | -7.82B | -2.7B | 2.65B | 300M | 338.24M | 816.43M | -14.09M | 71.85M |
| Net Margin % | 7.86% | 3.93% | 4.19% | -6.16% | -27.09% | -16.22% | -5.57% | 6.13% | 1.22% | 2.59% | 13.31% | -0.48% | 18.24% |
| Net Income Growth % | 186.5% | 12.04% | 170.67% | 70.04% | -105.64% | -189.99% | -201.89% | 782% | -11.31% | -58.57% | 5894.39% | -119.61% | - |
| EPS (Diluted) | 29.75 | 10.92 | 9.92 | -13.34 | -40.58 | -19.97 | -7.04 | 6.60 | 0.87 | 1.13 | 3.42 | -0.10 | 0.77 |
| EPS Growth % | 172.44% | 10.08% | 174.36% | 67.13% | -103.2% | -183.66% | -206.67% | 658.62% | -23.01% | -66.96% | 3523.42% | -112.97% | - |
| EPS (Basic) | 29.75 | 10.92 | 9.94 | -13.48 | -40.58 | -19.97 | -7.04 | 6.86 | 0.87 | 1.13 | 3.42 | -0.10 | 0.77 |
| Diluted Shares Outstanding | 368.52M | 366.38M | 365.51M | 376.85M | 399.18M | 400.73M | 400.73M | 400.73M | 346.07M | 300.49M | 238.82M | 141.09M | 93.3M |
High volatility in earnings and margin compression suggest significant operational or regulatory headwinds.
According to reported financial statements, ReNew Energy Global experienced significant revenue fluctuations, peaking at 71.0% growth in 2025Q1 before moderating to 11.2% by 2025Q4, suggesting that the company's top-line performance remains highly sensitive to project commissioning cycles rather than stable, regulated rate base expansion.
The erratic revenue trajectory indicates that the firm may lack the predictable, decoupling-driven revenue streams typical of traditional regulated utilities. Investors should monitor whether these swings reflect underlying project delivery risks or inconsistent regulatory recovery mechanisms that fail to provide a stable earnings floor.
As indicated by recent quarterly filings, operating margins have demonstrated extreme volatility, swinging from a high of 64.6% in 2024Q2 to a low of 29.6% in 2025Q4, which implies that the company struggles to maintain consistent cost control across its renewable asset portfolio.
The sharp contraction in operating margins suggests that the firm may be facing rising maintenance or operational costs that are not being fully offset by revenue adjustments. This inconsistency warrants further investigation into whether the company's cost structure is truly scalable or if it remains burdened by high fixed-cost overheads.
Based on the provided income statement data, EPS has fluctuated wildly between a high of 13.74 and a low of -10.62, suggesting that reported earnings are heavily influenced by non-recurring items or accounting adjustments rather than a steady, predictable growth in regulated earnings power.
The frequent swings between net losses and significant profits indicate that the company's bottom line is not yet reflective of a mature, regulated utility model. Analysts should be skeptical of the sustainability of current earnings until the firm demonstrates a consistent ability to generate positive net income across multiple reporting periods.
Quick answers to the most common questions about buying RNW stock.
For fiscal year 2025, ReNew Energy Global Plc (RNW) reported total revenue of $139.10B. This represents a 35204.9% increase compared to $394.0M in 2012.
ReNew Energy Global Plc (RNW) is profitable, generating $10.93B in net income for the fiscal year ending 2025 with a net profit margin of 7.9%.
ReNew Energy Global Plc (RNW) reported an operating income of $60.30B, resulting in an operating profit margin of 43.4%. This margin reflects the operational efficiency of the business before interest and taxes.
ReNew Energy Global Plc (RNW) generated $81.41B in gross profit for the year, representing a gross profit margin of 58.5%. This demonstrates the company's core pricing power and production efficiency.