RENEW ENERGY GLOBAL Reports 56% Increase in Revenue for Fourth Quarter of FY2023

☀️Earnings Overview

RENEW ENERGY GLOBAL ($NASDAQ:RNW) reported total revenue of INR 23319.0 million for the fourth quarter of FY2023, which ended on March 31 2023, an increase of 56.0% compared to the same quarter in the prior year. The company’s net income also increased 102.1% year over year to INR 74.0 million.

Analysis

GoodWhale has conducted an analysis of the wellbeing of RENEW ENERGY GLOBAL. Based on the Star Chart, RENEW ENERGY GLOBAL is classified as ‘cheetah’, a type of company that has achieved high revenue or earnings growth but is considered less stable due to lower profitability. Investors interested in such a company would likely be focused on the growth potential rather than stability and security. RENEW ENERGY GLOBAL is strong in terms of growth, medium in terms of profitability and weak in terms of assets and dividends. Nonetheless, RENEW ENERGY GLOBAL has an intermediate health score of 6/10 with regard to its cash flows and debt, which indicates that it is likely to sustain future operations in times of crisis. More…

About the Company

Income Snapshot

Below shows the total revenue, net income and net margin for RNW. More…

Cash Flow Snapshot

Below shows the cash from operations, investing and financing for RNW. More…

Balance Sheet Snapshot

Below shows the total assets, liabilities and book value per share for RNW. More…

Key Ratios Snapshot

Some of the financial key ratios for RNW are shown below. More…

Peers

As the world increasingly looks for cleaner energy sources, many companies are vying for a piece of the renewable energy pie. ReNew Energy Global PLC is one such company, and it competes against others such as Karma Energy Ltd, Westbridge Renewable Energy Corp, and Shinfox Energy Co Ltd. All of these companies are looking to provide renewable energy solutions that are both effective and affordable.

– Karma Energy Ltd ($BSE:533451)

Karma Energy Ltd is an Indian renewable energy company with a market cap of 366.77M as of 2022. The company has a Return on Equity of 9.92%. Karma Energy Ltd is involved in the development, construction, and operation of renewable energy projects in India. The company has a portfolio of solar, wind, and biomass projects.

– Westbridge Renewable Energy Corp ($TSXV:WEB)

Westbridge Renewable Energy Corp is a Canadian renewable energy company. The company has a market capitalization of 38.54 million as of 2022 and a return on equity of -46.38%. The company operates in the wind, solar, and hydroelectric power generation sectors. The company was founded in 2006 and is headquartered in Calgary, Alberta, Canada.

– Shinfox Energy Co Ltd ($TWSE:6806)

Shinfox Energy Co Ltd is a Japanese company that specializes in the development and operation of renewable energy power plants. The company has a market cap of 13.4 billion as of 2022 and a return on equity of 2.33%. Shinfox Energy Co Ltd is a publicly traded company listed on the Tokyo Stock Exchange.

Summary

Renew Energy Global recently announced impressive financial results for the fourth quarter of FY2023. Total revenue increased 56.0% to INR 23319.0 million and net income rose by 102.1% to INR 74.0 million compared to the same period a year ago. This news has sparked investor interest, with the company’s stock price rising on the same day. The strong financial performance of Renew Energy Global signals a positive future outlook for the company and suggests that investors should consider buying shares in the company.

However, investors should conduct thorough research and risk assessment before making any investment decisions.