ReNew Energy Global plc

Thank you for standing by and welcome to the Renew Power Renews 1QF527 audience report. All participants are in a listen-only mode. There will be a presentation followed by a question and answer session. If you wish to ask a question, you will need to press the star key followed by the number 1 on your telephone keypad. I would now like to hand the conference over to Anunay Shahi. Thank you and over to you.

Thank you. Good morning everyone and thank you for joining us today. We have put out a press release announcing our results for the first quarter of fiscal year 2027. A copy of the press release and the earnings presentation are available in the IR section of Renew's website at www.renew.com. With me today are Sumant Sinha, our founder, chairman, and CEO, Kailash Vaswani, our CFO, and Vaishali Nigam Sinha, co-founder and chairperson, sustainability. After the prepared remarks, which we expect will take 20 to 25 minutes, we will open the call for questions. Please note that our safe harbor statements are contained within our press release presentation materials and materials available on our website. These statements are important and integral to all our remarks. There are risks and uncertainties that could cause our results to differ materially from those expressed or implied by such forward-looking statements. Therefore, we encourage you to review the press release and the presentation on our website for a more complete description. Also contained in our press release, presentation materials and annual report are certain non-IFRS measures that we reconcile to The most comparable IFRS measures and these reconciliations are also available on our website in the press release, presentation materials and our annual report. With that, it is now my pleasure to hand it over to our founder, chairman and CEO, Sumant. Over to you, Sumant.

Yes, thank you, Anunay. Good morning, good afternoon and good evening, everybody. and I'm glad to have you all on our earnings call for the first quarter of fiscal year ended March 2027. After a terrific fiscal 2026 where we reported our highest ever EBITDA and PAT, we continue to deliver on our promise of profitable growth in spite of the uncertain global macroeconomic situation and grid related challenges in India. We also continue to be disciplined in our approach towards judicious use of capital and allocating capital only towards the highest return opportunities. Turning to highlights for this quarter. Our focus towards executing at scale continues as we delivered a 26% growth in our operating portfolio year over year. We have commissioned over 1 gigawatt to date in the current fiscal which includes over 600 megawatts in Q1 itself. Our overall committed portfolio now stands at 20.5 gigawatts and includes 1.7 gigawatts of BES and our total pipeline is at approximately 27 gigawatts. We also continue to execute our capital recycling plans. In June 2026 We closed the sale of a 100 MW Tamil Nadu solar asset and received the proceeds. In August 2026, we also signed definitive documents for the sale of about 1 GW of assets, which is expected to generate $190 million of cash flow to equity on closing. These transactions underlined the quality of our asset base and our ability to continuously find buyers and attractive valuations. Additionally, we have 6.5 gigawatts of module and 2.5 gigawatt of cell capacity that is currently operational and a 4 gigawatt cell facility of TOPCOM that is expected to be fully operational by the end of the current fiscal year. We have also filed our form 20F for FI26 and published our third integrated report with the theme, Beyond Boundaries, Decarbonizing Value Chains to Deliver Climate Value at Scale, in line with international reporting standards. Coming to our financial performance, in this quarter, we have delivered adjusted EBITDA growth of around 12% with INR 30.4 billion adjusted EBITDA including INR 5.7 billion contribution from our manufacturing business. Our profit after tax increased by 16% year over year with INR 6 billion for Q1 of fiscal 2027 along with INR 12.8 billion in CFE. Our DSO continues to reduce as we expand our portfolio and legacy issues continue to get resolved. Subsequent to the end of the quarter, we received INR 57 billion from the Andhra Pradesh Discount, taking our DSOs as of July end to 54 days, 17 days lower than the Q1-FI27 DSO number of 71 days. Let me now hand over to Kailash to take us through the next 7 pages.