Total installed capacity
389 MW
+7 MW QoQ
Includes 382 MW wind and 7 MW solar; solar commissioned in Q3.
ORIENTGREENPOWER
Energy
10 Feb 2026
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.
✓ Verified against BSE filing
2-Min Summary
✦ AI-Generated from Full Transcript
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.
Key Numbers
New capacity EBITDA addition
₹36 crore
N/A
Expected annual EBITDA from 28 MW greenfield and 6 MW repowering.
Blended interest cost
9.15%
-20% YoY
Post refinancing; debt rating upgraded to BBB, enabling lower rates.
Old wind capacity >20 years
45 MW
N/A
Of which 10 MW is being repowered; balance 35 MW under evaluation.
Management Guidance
28 MW greenfield capacity commissioning by May 2026
18 MW solar and 10 MW wind projects to be commissioned by April-May 2026.
Management guidance expansion6 MW repowering commissioning by June 2026
Repowering of 6 MW wind capacity using 3x2.1 MW turbines from Suzlon, expected to add ~₹7 crore EBITDA.
Management guidance expansionNew capacity to add ₹36 crore annual EBITDA
Combined EBITDA contribution from greenfield and repowering projects estimated at ₹36 crore per annum.
Management guidance growthDebt to increase by ~₹120 crore for new capacity
Company will draw down ~₹120 crore debt to fund new wind capacity, increasing leverage temporarily.
Management guidance capexKey Risks
Wind seasonality and weather dependency
Q3 performance was subdued due to low wind season; future earnings depend on monsoon and wind patterns.
high · management_commentary1 GW target dependent on acquisitions
Management acknowledged organic growth insufficient; acquisition talks are ongoing but not finalized, creating uncertainty.
medium · analyst_questionPromoter pledge overhang
100% promoter pledge currently depresses valuation; management targets unpledging by mid-next month but no guarantee.
medium · analyst_questionEuropean asset sale stalled
Efforts to sell the 10 MW Croatia asset have not progressed due to minority partner and small size, limiting strategic flexibility.
low · management_commentaryNotable Quotes
We are dependent on Vay Bhagwan.
We definitely want to become a gigawatt size company. We have certain projects and thought processes which are in progress but the details we can't share with you until we are ourselves clear.
The new capacity of solar plus the new wind plus the repowered wind totally will add about 36 crores of EBITDA.
Frequently Asked Questions
What was Orient Green Power's revenue in Q3 FY26?
Orient Green Power reported revenue of ₹36 Cr in Q3 FY26, representing a — change compared to the same quarter last year.
What guidance did Orient Green Power management give for FY27?
28 MW greenfield capacity commissioning by May 2026: 18 MW solar and 10 MW wind projects to be commissioned by April-May 2026. 6 MW repowering commissioning by June 2026: Repowering of 6 MW wind capacity using 3x2.1 MW turbines from Suzlon, expected to add ~₹7 crore EBITDA. New capacity to add ₹36 crore annual EBITDA: Combined EBITDA contribution from greenfield and repowering projects estimated at ₹36 crore per annum. Debt to increase by ~₹120 crore for new capacity: Company will draw down ~₹120 crore debt to fund new wind capacity, increasing leverage temporarily.
What are the key risks for Orient Green Power in FY27?
Key risks include Wind seasonality and weather dependency — Q3 performance was subdued due to low wind season; future earnings depend on monsoon and wind patterns.; 1 GW target dependent on acquisitions — Management acknowledged organic growth insufficient; acquisition talks are ongoing but not finalized, creating uncertainty.; Promoter pledge overhang — 100% promoter pledge currently depresses valuation; management targets unpledging by mid-next month but no guarantee.; European asset sale stalled — Efforts to sell the 10 MW Croatia asset have not progressed due to minority partner and small size, limiting strategic flexibility..
Did Orient Green Power meet its previous quarter's guidance?
Scorecard data is being built as historical quarters are processed.
Where can I read the full Orient Green Power Q3 FY26 concall transcript?
The full earnings conference call transcript or source release is available on the linked source material. This page provides an AI-generated summary verified against official BSE/NSE filings.