Standalone Financial Results (₹ in Crores)

Income Statement for Q1 FY27 (Quarter ended June 30, 2026):

  • Revenue from Operations:
  • Power Supply: ₹4
  • Sale of Goods/Equipment and related Services: ₹6,162
  • Others: ₹40
  • Other Income: ₹266
  • Total Income: ₹6,472

Expenses:

  • Cost of Equipment/Goods sold: ₹5,080
  • Changes in inventories: ₹866
  • Employee benefits expense (net): ₹17
  • Finance Costs (net): ₹389
  • Depreciation and amortisation expense: ₹35
  • Other Expenses (net): ₹171
  • Total Expenses: ₹6,558

Profit/(Loss):

  • (Loss)/Profit before exceptional items and tax: (₹86)
  • Exceptional Items: ₹0 (compared to ₹165 in Q4 FY26 and ₹37 in Q1 FY25)
  • (Loss)/Profit before tax: (₹86)
  • Tax Expense: Deferred Tax Credit of (₹35)
  • (Loss)/Profit after tax: (₹51)
  • Total Comprehensive (Loss)/Income: (₹51)

Capital Structure:

  • Paid up Equity Share Capital: ₹1,647 crores (Face Value ₹10 per share)
  • Earnings Per Share (Basic and Diluted): (₹0.31)

Consolidated Financial Results (₹ in Crores)

Income Statement for Q1 FY27:

  • Revenue from Operations:
  • Power Supply: ₹4,280
  • Sale of Goods/Equipment and Related Services: ₹43
  • Others: ₹108
  • Other Income: ₹232
  • Total Income: ₹4,663

Expenses:

  • Cost of Equipment/Goods Sold: ₹35
  • Employee benefits expense (net): ₹22
  • Finance Costs (net): ₹2,001
  • Depreciation and amortisation expense: ₹1,026
  • Other Expenses (net): ₹389
  • Total Expenses: ₹3,473

Profit:

  • Profit before share of profit from Associate and Joint Venture, Exceptional Items and Tax: ₹1,190
  • Exceptional items: (₹2)
  • Profit before share of profit from Associate and Joint Venture, and Tax: ₹1,188
  • Tax charge: ₹263 (Current Tax: ₹49, Deferred Tax: ₹214)
  • Profit after tax and before share of profit from Associate and Joint Venture: ₹925
  • Share of Profit from Associate and Joint Venture (net of tax): ₹58
  • Profit for the period: ₹983
  • Total Comprehensive Income: ₹918

Attribution:

  • Net Income Attributable to Equity holders of parent: ₹845
  • Net Income Attributable to Non-Controlling Interest: ₹138
  • Earnings Per Share (Basic): ₹5.05

Key Operational Highlights from Press Release

  • Operational Capacity: 20,142 MW as of June 30, 2026 (27% YoY growth from 15,816 MW)
  • Energy Sales: 13,657 million units (30% YoY growth)
  • Revenue from Power Supply: ₹4,280 crore (29% YoY growth)
  • EBITDA from Power Supply: ₹4,122 crore (33% YoY growth)
  • EBITDA Margin: 94%
  • Cash Profit: ₹2,225 crore (28% YoY growth)
  • BESS Capacity: Commissioned 1,972 MWh in Khavda during Q1 FY27, taking total installed capacity to 3,551 MWh
  • Khavda Plant Development: Operational capacity at Khavda reached 10.3 GW (includes 9,520 MW RE capacity for AGEL)

Management Changes

The Board, on the recommendation of the Nomination and Remuneration Committee, approved the appointment of Ms. Poly Singh Arora as Chief People Officer, designated as Senior Management Personnel. Her appointment terms include full-time employment.

Legal and Regulatory Matters

US Regulatory Proceedings:

  • The company disclosed ongoing proceedings involving certain directors with US Department of Justice (indictment) and US Securities and Exchange Commission (civil complaint)
  • The matters relate to allegations of securities fraud conspiracy, wire fraud conspiracy, and securities fraud for making false and misleading statements
  • The company itself has not been named as defendant in either proceeding
  • During the current quarter, US SEC filed a request for entry of final judgment (May 15, 2026) which would require directors to pay civil monetary penalties to settle the complaint
  • US DOJ filed a motion to dismiss the charges with prejudice (May 18, 2026)
  • Based on management assessment and legal advice, no adjustments are required in the financial results
  • An independent review conducted in FY25 did not identify any non-compliances or irregularities

Investments and Corporate Actions

  • During Q1 FY27, the company invested ₹1,170 crores in Unsecured Perpetual Debt and received back ₹315 crores from various subsidiaries
  • During previous year FY26, the company completed preferential allotment of 6,31,43,677 warrants at ₹1,480.75 per warrant, raising ₹9,350 crores for debt repayment, investments in subsidiaries, and general corporate purposes
  • The company incorporated three new step-down subsidiaries during the quarter: ARE64L Step-One Renewable Energy Limited, ARE64L Step-Two Renewable Energy Limited, and AGEL Global IFSC Limited

Segment Reporting

The Group has two reportable segments:

1. Renewable power generation and related ancillary activities (Q1 FY27 revenue: ₹4,394 crore)

2. Sale of goods and renewable power equipment (Q1 FY27 revenue: ₹341 crore)

Auditor Qualifications

The joint statutory auditors issued unmodified limited review reports but drew attention to Note 6 (standalone) and Note 9 (consolidated) regarding the US regulatory proceedings involving certain directors, stating that their conclusion is not modified in respect of this matter.

ESG Performance

  • Retained highest CRISIL ESG Score in Indian Power Sector for fifth consecutive year (score improved from 66 to 69 in FY26)
  • Achieved Net Water Positive Goal for 100% operational portfolio with water balance index of 2.14
  • Ranked among Top 10 companies globally in ESG evaluation by seven leading rating agencies

Forward-looking Statements

The company is on track to add greenfield capacity of 5 GW of renewable and more than 10,000 MWh of BESS capacity by FY27, targeting 50 GW of renewable energy capacity including 5 GW/30 GWh of pumped storage and 50 GWh of battery storage by 2030.