Chennai: Orient Green Power Company Limited (NSE – GREENPOWER | BSE – 533263 | INE999K01014), One of India’s foremost independent renewable power producers, focused on renewable energy operations, has reported its Financial Results for Q2 and H1 FY27.

Key Financial Highlights (Consolidated, ₹ Cr)

Q2 FY27

  • Total Income for Q2 FY27 was ₹147 Cr, up 8% YoY.
  • EBITDA for Q2 FY27 was ₹117 Cr, up 12% YoY.
  • EBITDA Margin for Q2 FY27 was 80%, up 251 bps YoY.

H1 FY27

  • Total Income for H1 FY27 was ₹233 Cr, up 2% YoY.
  • EBITDA for H1 FY27 was ₹177 Cr, up 4% YoY.
  • EBITDA Margin for H1 FY27 was 76%, up 147 bps YoY.

Capacity Highlight

  • 17.6 MW Solar capacity added in Q2

Business Highlights:

  • We have reached H1 profit of ₹100 crore+ this year without the ₹16 crore one-time gain of last year. The Capacity additions and improved credit ratings helped in sustaining the same.
  • Improved wind conditions during the quarter coupled with incremental generation from recently commissioned capacities offset the previous quarter’s deficit leading to a marginal surplus.
  • Revenues and EBITDA for the half year were marginally better by 2% y-o-y and 4% y-o-y respectively
  • Net Profit however was lower as first half of previous fiscal had one-time exceptional income of ₹16 crore.
  • Successfully commissioned 17.6 MW solar plant; along with already commissioned 7 MW solar plant, one of rights issue objectives was fulfilled.
  • Repowering capex approaching final phase and to commission shortly subject to regulatory approvals.
  • Entered into an EPC contract for expanding wind power capacity by 6.6 MW.
  • Credit rating of material subsidiary upgraded to BBB by CRISIL; solar subsidiary rated BBB by ICRA.

Commenting on the performance, Mr. T Shivaraman, Managing Director & CEO, said: “The wind availability improved in the current quarter when compared to the moderate wind of previous quarter. Coupled with the incremental generation from recently commissioned solar and wind capacities, the generation deficit witnessed in the previous quarter was reversed and surplus generation was achieved. This resulted in marginal improvement in operational profits for the first half of current fiscal.

In addition to the 7 MW solar plant already commissioned in the last fiscal, the company successfully added 17.6 MW solar capacity during the quarter and fulfilled one of the rights issue objects. The repowering project of 7.8 MW old wind turbines to improve operating efficiencies is nearing completion and anticipated to be commissioned in the upcoming quarter subject to regulatory approvals. The company has also entered into contract for adding 6.6 MW of wind capacity. The above capex are anticipated to be available in entirety for the next wind season and benefit the performance in years to come.”