GREENPOWER
Orient Green Power Company share price & financials
- Price
- ₹11.13
- Market cap
- ₹1.2k Cr
- Sector
- Power
- Calls analysed
- 5
Orient Green Power Company Limited Q1 FY27
What went well
- Commissioned 9.9 MW incremental wind capacity and 7 MW solar plant, contributing to current quarter operations.
- 17.6 MW solar capacity and 7.8 MW wind repowering projects are progressing satisfactorily and expected to be commissioned by end of September 2026.
- Financial and liquidity position continues to remain healthy, with interest costs under control and efforts to reduce borrowing costs.
What to watch
- Q1 FY27 Revenue from operations decreased 7% YoY to ₹81.43 crores, primarily due to lower wind availability.
- Q1 FY27 EBITDA declined 9% YoY to ₹60.01 crores, and PAT was down 16% YoY to ₹23.94 crores.
What Orient Green Power Company Limited does
Orient Green Power generates electricity from wind assets and, more recently, solar plants, selling power to state distribution utilities (DISCOMs) and industrial/commercial customers, and also monetises Renewable Energy Certificates (RECs) earned from its wind fleet. Generation and sale of power from renewable energy sources is the company's sole reportable business segment. Its asset base is held through the parent and a network of step-down subsidiaries, giving it a multi-state Indian footprint plus wind operations in Southeast Europe. The company is pursuing capacity growth via new solar builds and repowering of older wind turbines.
Segments
- Renewable Power Generation
- Total operating capacity
- 399 MW (392 MW wind, 7 MW solar)
- Operating wind capacity
- 392 MW
- Operating solar capacity
- 7 MW
- Solar capacity under construction
- 17.6 MW
- Wind capacity under repowering
- 7.8 MW of older turbines, under Tamil Nadu's repowering policy
- Geographic footprint
- Wind and solar assets across Tamil Nadu, Andhra Pradesh, Gujarat and Karnataka in India, plus step-down subsidiaries operating wind projects in Croatia and Macedonia
Guidance record · Q1 FY27
what the last two calls moved 17 tracked 1 delivered 2 missed 14 open- Solar Capacity Commissioning delivered said Q1 FY26 Promised: Commissioned by November or December 2025 Q1 FY27: Status remains achieved. The 7 MW solar plant contributed to operations in the quarter.
- Cost of Debt missed said Q1 FY26 Promised: 8.75% by next year Q1 FY27: Management stated the current blended interest rate is 9.1%. As the 'by next year' deadline has arrived, the target of 8.75% has been missed.
- Total Installed Capacity delayed said Q1 FY26 Promised: Expand to 1 GW over the next couple of years Q1 FY27: When pressed for a timeline, management remained evasive, stating 'We are still working on it. We are looking at certain... acquisition possibilities as they develop, we will keep you in the loop.' No new timeline provided.
All 17 tracked — every revision, and every one management stopped mentioning.
Open the guidance ledgerQuarterly results
Q1 FY27: revenue down 6.9%, net profit down 17.2% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 121 | 35 | 42 | 87 | 131 +8% | 36 +3% | 39 −7% | 81 −7% |
| EBITDA | 100 | 11 | 17 | 60 | 100 +0% | 13 +18% | 10 −41% | 55 −8% |
| Net profit | 66 | -22 | -15 | 29 | 81 +23% | -21 +5% | -17 −13% | 24 −17% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance −33.0% 1Y
1Y: ₹13.9 on 10 Sept 2025 → ₹9.31. High ₹14.34 (3 Nov 2025), low ₹8.04 (30 Mar 2026).
How the price took the results
close before → close after
- Q1 FY27
- −0.4%
- 27 Jul
- Q4 FY26
- +3.0%
- 13 May
- Q3 FY26
- −1.7%
- 16 Feb
- Q2 FY26
- +0.5%
- 7 Nov
The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.
Financials, as filed
Revenue grew 4.3% a year over 3 years, FY23 to FY26. Operating margin narrowed to 62.5%.
| Year ending | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | ₹258 Cr | ₹271 Cr | ₹261 Cr | ₹293 Cr |
| Operating profit | ₹172 Cr | ₹186 Cr | ₹169 Cr | ₹183 Cr |
| Operating margin | 66.7% | 68.6% | 64.8% | 62.5% |
| Interest | ₹109 Cr | ₹80 Cr | ₹72 Cr | ₹57 Cr |
| Depreciation | ₹84 Cr | ₹84 Cr | ₹84 Cr | ₹87 Cr |
| Net profit | ₹34 Cr | ₹38 Cr | ₹35 Cr | ₹72 Cr |
| Net margin | 13.2% | 14.0% | 13.4% | 24.6% |
| Cash from operations | ₹229 Cr | ₹250 Cr | ₹169 Cr | ₹195 Cr |
| Free cash flow | ₹229 Cr | ₹251 Cr | ₹160 Cr | ₹3 Cr |
| ROCE | 7.0% | 7.0% | 7.0% | 7.0% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹751 Cr | ₹751 Cr | ₹751 Cr | ₹981 Cr | ₹1.2k Cr | ₹1.2k Cr |
| Reserves | ₹-295 Cr | ₹-261 Cr | ₹-227 Cr | ₹-193 Cr | ₹18 Cr | ₹-21 Cr |
| Borrowings | ₹1.3k Cr | ₹1.2k Cr | ₹1.1k Cr | ₹754 Cr | ₹490 Cr | ₹524 Cr |
| Other liabilities | ₹111 Cr | ₹127 Cr | ₹78 Cr | ₹76 Cr | ₹41 Cr | ₹55 Cr |
| Total liabilities | ₹1.9k Cr | ₹1.8k Cr | ₹1.7k Cr | ₹1.6k Cr | ₹1.7k Cr | ₹1.7k Cr |
| Fixed assets | ₹1.6k Cr | ₹1.5k Cr | ₹1.5k Cr | ₹1.4k Cr | ₹1.3k Cr | ₹1.4k Cr |
| Capital work in progress | ₹0 Cr | ₹0 Cr | ₹5 Cr | ₹11 Cr | ₹8 Cr | ₹79 Cr |
| Investments | ₹2 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹14 Cr | ₹2 Cr |
| Other assets | ₹254 Cr | ₹290 Cr | ₹224 Cr | ₹214 Cr | ₹391 Cr | ₹285 Cr |
| Total assets | ₹1.9k Cr | ₹1.8k Cr | ₹1.7k Cr | ₹1.6k Cr | ₹1.7k Cr | ₹1.7k Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
All earnings calls (5)
Read the Q1 FY27 call →Learn to analyse Orient Green Power Company Limited
Guides on how to read this kind of business and the numbers that matter.