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A source-linked quarter view: reported numbers, management language, guidance, and the risks that should carry forward.
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Revenue
₹39 Cr
verified against source
Revenue YoY
13%
reported change
EBITDA
₹206 Cr
latest reported figure
Source
screener in
record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
Orient Green Power reported a strong FY26 with ₹316cr revenue (+13% YoY) and ₹72cr PAT (+70% YoY), the highest ever. Q4 was weak due to lower wind availability, with revenue of ₹46cr and EBITDA of ₹18cr, both marginally down YoY. The company commissioned 9.9MW wind and 7MW solar in FY26, and is building 17.6MW solar expected to contribute ~₹14.5cr revenue annually. Management highlighted a 45bps reduction in interest costs and a 21% decline in interest expense. The 1GW target remains but is delayed due to market volatility; internal resources can support only ~50MW without external equity. Key risk: wind variability remains a significant factor, as seen in Q4's underperformance.
Colored figures show movement against the previous available record.
Guidance to track
- Full-year revenue of ₹14.5cr and EBITDA of ₹12.8cr, but partial contribution in FY27 due to commissioning timeline.
- Expected revenue of ₹14cr and EBITDA of ₹10cr, assuming normal wind conditions.
- Management stated that without raising market funds, about 50 MW of expansion is feasible.
Risks flagged
- Q4 FY26 saw lower wind availability, causing revenue and EBITDA declines. This is an inherent risk in wind power.
- Management acknowledged that strategic initiatives have slowed and no timeline can be given for the 1GW target.
- Without external equity, only ~50 MW can be added internally, limiting growth ambitions.
- Other expenses increased due to write-off of long-overdue receivables, indicating potential collection issues.
Key quotes
- FI26 was a breakthrough year for the company with many firsts.
- We are working 24 by7 to see how we can increase shareholder value in this company.
- I believe that the asset is currently undervalued but that is based on competitive valuation of other companies.
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