News ArticleRavindra Energy Limited Posts INR 190 Crores Revenue in Q2 FY27 with 261 MW Renewable Capacity and Strong Heavy EV Sales
Company advances toward 500 MW renewable target by March 2027 and expands electric vehicle charging network to 15 stations ahead of year-end
Ravindra Energy Limited disclosed its Q2 and H1 FY27 financial results highlighting a 261.21 MW renewable energy operating portfolio, 6.6 million units generation in Q2, and INR 190 crores quarterly revenue. The company also reported significant growth in its heavy electric vehicle segment with 142 vehicle sales in Q2 and an expanded charging network.
Ravindra Energy Limited
Earnings Call Transcript
Ravindra Energy Limited reported its financial and operational performance for Q2 and H1 of FY27, reaching a renewable energy operating capacity of 261.21 MW and generating 6.6 million units in Q2. The company's consolidated revenue totaled INR 190 crores in the quarter, driven by electricity generation, trading, and EPC businesses. Its heavy electric vehicle segment showed strong momentum with 142 vehicles sold in Q2 and plans to expand its charging stations network to 15 by December 2026.
The renewable energy business is progressing toward its target of 500 MW operating capacity by March 2027, currently standing at 261.21 MW with an additional 231.10 MW under construction. For the quarter ended September 30, 2026, electricity generation turnover was INR 31 crores, electricity trading contributed INR 26 crores, and EPC and equipment service revenue was INR 133 crores, totaling INR 190 crores.
Half year revenue reached INR 310 crores, slightly up from INR 287 crores in the previous fiscal year's same period. EBITDA for the renewable segment was INR 53 crores in Q2 and INR 93.7 crores for H1 FY27, compared to INR 33.4 crores and INR 67.3 crores respectively for the prior year.
Profit after tax (PAT) for Q2 FY27 was INR 26 crores before adjusting for the Energy in Motion (EIM) losses, and INR 19 crores consolidated after adjustment. The half year PAT was INR 38.1 crores before adjustment and INR 20.7 crores consolidated after adjustment, with lower EPC revenue impacting the comparative period.
Energy in Motion, the heavy electric vehicle business unit, sold 142 vehicles in Q2, up from 58 in Q1, with a robust order book expected to drive further growth. Customer satisfaction remains high with uptimes above 99%, and repeat orders indicate strong client confidence.
The charging network grew by nearly 65% quarter over quarter, with plans to increase from eight stations to 15 by December 2026 and 40 by March 2027. Expansion focuses on key industrial corridors in northwest India to support accelerated electric truck adoption and charging infrastructure deployment.
Highlights
- Operating renewable energy portfolio reached 261.21 MW as of Q2 FY27, targeting 500 MW by March 2027.
- Total electricity generated was 6.6 million units in Q2 and 14.5 million units in H1 FY27.
- Q2 turnover was INR 31 crores from generation, INR 26 crores from electricity trading, and INR 133 crores from EPC and services.
- Consolidated Q2 revenue totaled INR 190 crores; H1 revenue was INR 310 crores versus INR 287 crores last year.
- Renewable business EBITDA improved to INR 53 crores in Q2 FY27 from INR 33.4 crores last year.
- Energy in Motion sold 142 heavy electric vehicles in Q2, more than doubling Q1 sales of 58 vehicles, with a strong order pipeline ahead.]}},
Key Data Snapshot
What happened
- Ravindra Energy reported Q2 and H1 FY27 earnings including unaudited standalone and consolidated financial results.
- The company's operating renewable energy portfolio reached 261.21 MW with an additional 231.10 MW under construction.
- In Q2 FY27, total electricity generation was 6.6 million units, contributing to financial revenue of INR 190 crores for the quarter.
- Energy in Motion sold 142 heavy electric vehicles in Q2, more than doubling the previous quarter’s sales.
- Charging network expansions are underway, aiming to increase from 8 stations to 15 by December 2026 and 40 by March 2027.
Key details
- The renewable business includes IPP operations, EPC projects, electricity generation and trading.
- Revenue distribution in Q2 FY27 included INR 31 crores from generation, INR 26 crores from trading, and INR 133 crores from EPC and services.
- EBITDA for Q2 FY27 was INR 53 crores compared to INR 33.4 crores in Q2 FY26.
- Energy in Motion demonstrates high customer satisfaction with uptime above 99% and repeat orders from satisfied clients.
- Charging stations expansion focuses on heavily industrialized Indian corridors including Delhi-Pune and Mundra-Ahmedabad routes.
Operational performance
- Renewable energy segment generated 6.6 million units in Q2 FY27 and 14.5 million units in H1 FY27.
- Operating renewable energy portfolio stands at 261.21 MW with 231.10 MW under construction targeting 500 MW total by March 2027.
- Heavy electric vehicle sales increased to 142 units in Q2 from 58 units in Q1, reflecting faster build-out and customer adoption.
- The charging network grew nearly 65% quarter-over-quarter with plans for further network expansion by March 2027.
Financial performance
- Total revenue for Q2 FY27 was INR 190 crores and INR 310 crores for H1 FY27, up from INR 287 crores in H1 FY26.
- Renewable business EBITDA improved to INR 53 crores in Q2 FY27 from INR 33.4 crores in Q2 FY26, and to INR 93.7 crores in H1 FY27 from INR 67.3 crores.
- Profit after tax (PAT) before eliminating Energy in Motion losses was INR 26 crores for Q2 FY27, consolidating to INR 19 crores after losses adjustment.
- Lower EPC and concessionaire revenues in the half year contributed to reduced consolidated PAT compared to previous year.
Next milestones
- Ravindra Energy targets 500 MW of renewable operating capacity by March 2027, expecting to reach 300 MW in Q3 and 400 MW in Q4 FY27.
- Charging stations aim to expand from 8 to 15 by December 2026 and then 40 by March 2027, focusing on key industrial corridors in northwest India.
- The Energy in Motion unit expects stronger sales growth in the second half of FY27 backed by customer interest and pending orders.
- The company is inaugurating new assembly and battery pack facilities in Pune, with a partnership with CATL for assembling truck battery packs in India.
Highlights
- Operating renewable energy portfolio reached 261.21 MW as of Q2 FY27, targeting 500 MW by March 2027.
- Total electricity generated was 6.6 million units in Q2 and 14.5 million units in H1 FY27.
- Q2 turnover was INR 31 crores from generation, INR 26 crores from electricity trading, and INR 133 crores from EPC and services.
- Consolidated Q2 revenue totaled INR 190 crores; H1 revenue was INR 310 crores versus INR 287 crores last year.
- Renewable business EBITDA improved to INR 53 crores in Q2 FY27 from INR 33.4 crores last year.
- Energy in Motion sold 142 heavy electric vehicles in Q2, more than doubling Q1 sales of 58 vehicles, with a strong order pipeline ahead.]}},
Disclosures
- SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
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