Orient Green Power Company Ltd — Q3 FY26

Orient Green Power reported Q3 FY26 total income of ₹40.06 crore and a loss before exceptional items of ₹18.16 crore, an improvement of 17% YoY due to lower interest costs. For the 9-month period, revenue grew 16% YoY to ₹268.95 crore, EBITDA rose 14% to ₹187.3 crore, and net profit surged 54% YoY to ₹88.13 crore, aided by favorable wind conditions, better machine availability, and a one-time interest refund. The company commissioned its first 7 MW solar project and has 28 MW of greenfield capacity (18 MW solar, 10 MW wind) under construction, plus a 6 MW repowering project under Tamil Nadu's new policy. These initiatives are expected to add ₹36 crore to annual EBITDA. Management targets 1 GW capacity but relies on acquisitions; organic growth alone is insufficient. Key risk: wind seasonality and weather dependency could impact future earnings.