Factor Model (net -2.4)
Factor Model
net -2.4 5.2 / 10Q3 earnings crush: 48% revenue growth, beat by wide margin
Watch: Monitor FY26 full-year execution against guidance (adjusted EBITDA ₹90-93 billion, cash flow to equity ₹14-17 billion) to confirm this acceleration sticks. If the company hits the high end, expect analyst upgrades and institutional appetite to surge.
ReNew Energy reported Q3 FY2026 revenue of $349M, up 48% year-over-year, with EPS of ₹0.16 crushing consensus estimates of ₹-9.32 per share. The company swung sharply toward profitability — net losses narrowed to just $2.2M from $43M a year ago. Adjusted EBITDA jumped 54% to $238M, signaling strong operational leverage as the renewable energy pipeline matures.
This isn't just a beat; it's a profitability inflection. ReNew went from losing money to near break-even while scaling revenues and margins hard — exactly the trajectory needed to justify a growth story in renewable energy. The 54% EBITDA jump on 48% revenue growth shows operational efficiency, not just volume.
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