Total Operating Capacity
399 MW
+4.5% YoY
Comprises 392 MW wind and 7 MW solar as of FY26 end.
ORIENTGREENPOWER
Energy
15 May 2026
Orient Green Power Company Ltd — Q4 FY26
Orient Green Power reported a strong FY26 with ₹316cr revenue (+13% YoY) and ₹72cr PAT (+70% YoY), the highest ever.
✓ Verified against BSE filing
2-Min Summary
✦ AI-Generated from Full Transcript
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.
Key Numbers
Interest Cost Reduction
21%
-21% YoY
Driven by debt reduction and 45 bps lower rate on largest loan.
Wind Capacity Added in FY26
9.9 MW
+2.6% YoY
Commissioned in March 2026; fully available for upcoming wind season.
Solar Capacity Under Construction
17.6 MW
+151% YoY
Expected to commission in Q1 FY27, full production by Q2.
Management Guidance
17.6 MW solar project to generate ~₹14.5cr revenue annually
Full-year revenue of ₹14.5cr and EBITDA of ₹12.8cr, but partial contribution in FY27 due to commissioning timeline.
Management guidance revenue9.9 MW wind expansion to generate ~₹14cr revenue in normal wind year
Expected revenue of ₹14cr and EBITDA of ₹10cr, assuming normal wind conditions.
Management guidance revenueInternal resources can support ~50 MW additional capacity without external equity
Management stated that without raising market funds, about 50 MW of expansion is feasible.
Management guidance growthKey Risks
Wind variability impacting quarterly results
Q4 FY26 saw lower wind availability, causing revenue and EBITDA declines. This is an inherent risk in wind power.
high · management_commentary1 GW target delayed due to market volatility
Management acknowledged that strategic initiatives have slowed and no timeline can be given for the 1GW target.
medium · analyst_questionEquity constraints for large-scale expansion
Without external equity, only ~50 MW can be added internally, limiting growth ambitions.
high · analyst_questionOne-time expense of ₹1.67cr write-off in Q4
Other expenses increased due to write-off of long-overdue receivables, indicating potential collection issues.
low · data_observationNotable 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.
Frequently Asked Questions
What was Orient Green Power's revenue in Q4 FY26?
Orient Green Power reported revenue of ₹39 Cr in Q4 FY26, representing a +13% change compared to the same quarter last year.
What guidance did Orient Green Power management give for FY27?
17.6 MW solar project to generate ~₹14.5cr revenue annually: Full-year revenue of ₹14.5cr and EBITDA of ₹12.8cr, but partial contribution in FY27 due to commissioning timeline. 9.9 MW wind expansion to generate ~₹14cr revenue in normal wind year: Expected revenue of ₹14cr and EBITDA of ₹10cr, assuming normal wind conditions. Internal resources can support ~50 MW additional capacity without external equity: Management stated that without raising market funds, about 50 MW of expansion is feasible.
What are the key risks for Orient Green Power in FY27?
Key risks include Wind variability impacting quarterly results — Q4 FY26 saw lower wind availability, causing revenue and EBITDA declines. This is an inherent risk in wind power.; 1 GW target delayed due to market volatility — Management acknowledged that strategic initiatives have slowed and no timeline can be given for the 1GW target.; Equity constraints for large-scale expansion — Without external equity, only ~50 MW can be added internally, limiting growth ambitions.; One-time expense of ₹1.67cr write-off in Q4 — Other expenses increased due to write-off of long-overdue receivables, indicating potential collection issues..
Did Orient Green Power meet its previous quarter's guidance?
Of 3 tracked promises, management 0 met, 0 close, 3 missed.
Where can I read the full Orient Green Power Q4 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.