Ravindra Energy Limited has released its comprehensive business update for the third quarter ended December 31, 2025, highlighting progress across its renewable energy generation and electric vehicle business segments. The company submitted its quarterly financial results to BSE Limited and National Stock Exchange of India Limited along with completing all necessary board meeting filings.

Renewable Energy Operations Performance

The company's renewable energy portfolio demonstrates strong operational performance with 187 MW DC of operating assets generating income as per target during Q3FY26. The operational capacity includes diversified projects across multiple segments and locations.

Projects Under Construction and Development

Ravindra Energy has 60 MW DC capacity under construction, with significant progress reported across multiple projects. The MSKVY Phase 2 comprises 57 MW across 15 projects, with land registration and work commissioning completed in 11 out of 15 projects. The company expects to commission full capacity before March 31, 2026.

Additionally, the company has 235 MW DC under development pipeline, including:

• HESCOM Project: 62 MW AC/71 MW DC with Letter of Award received and Power Purchase Agreement expected by January 31, 2026, featuring a tariff of ₹2.93 per unit
• MSKVY Phase 3: 120 MW AC/150 MW DC across 23 projects awaiting MERC approval for PPA signing
• Open Access Pipeline: 15 MW capacity with advanced conversations with 4 customers

Electric Vehicle Business Performance

The electric vehicle segment showed operational activity during Q3FY26, though with sequential decline in vehicle sales. The company's battery-as-a-service model continues to gain traction with increased swap station utilization.

Financial Support and Expansion Plans

The company has secured substantial financial backing to support its expansion initiatives. YES Bank Limited has sanctioned financial assistance comprising various credit facilities worth ₹296 crores along with hedge facilities of ₹32 crores. This financial support positions the company to execute its planned expansion across both business segments.

For the electric vehicle business, the company expects to commission an additional 8 swap stations by March 2026, which will support a sales pipeline of 275 vehicles. This expansion aligns with the company's strategy to strengthen its battery-as-a-service infrastructure and increase market presence.

Strategic Outlook

Ravindra Energy's diversified approach across renewable energy generation and electric vehicle operations demonstrates the company's commitment to the clean energy transition. With 187 MW of operational renewable capacity generating as per targets and a robust pipeline of 295 MW under construction and development, the company is positioned for significant capacity expansion. The electric vehicle segment, while showing quarterly fluctuations, maintains operational momentum with infrastructure expansion plans and financial backing in place.

Ravindra Energy Limited announced its unaudited financial results for the quarter ended December 31, 2025, demonstrating robust growth across key financial metrics. The company's Board of Directors approved the results at their meeting held on January 15, 2026, showcasing strong operational performance in the renewable energy sector.

Strong Standalone Financial Performance

The company delivered exceptional standalone results for Q3FY26, with significant year-on-year improvements across all major parameters:

For the nine months ended December 31, 2025, the company maintained its growth trajectory with revenue from operations reaching ₹3,476.43 million compared to ₹465.96 million in the corresponding period last year, representing a substantial 646% increase. Net profit for the nine-month period stood at ₹753.94 million versus ₹141.56 million in the previous year.

Segment-wise Performance Analysis

The solar segment remained the primary revenue contributor, generating ₹996.41 million in Q3FY26 compared to ₹380.27 million in Q3FY25. The investment segment contributed ₹25.17 million during the quarter. On a segmental profit basis, the solar division delivered ₹173.39 million in profit before tax and interest, while the investment segment contributed ₹25.17 million.

Consolidated Results Show Continued Growth

On a consolidated basis, Ravindra Energy reported revenue from operations of ₹1,271.71 million for Q3FY26, marking a 139% increase from ₹531.43 million in Q3FY25. The consolidated net profit after tax reached ₹146.39 million compared to ₹21.76 million in the previous year quarter.

The consolidated results include performance from 28 subsidiaries, 18 Limited Liability Partnerships (LLPs), and one associate company. The solar segment contributed ₹1,235.13 million to consolidated revenue, while the trading segment added ₹36.59 million.

Fund Utilization Progress

The company provided an update on the utilization of proceeds from its preferential issue of ₹180 crores completed in October 2024. As of December 31, 2025, the company has deployed ₹172.50 crores across various business objectives:

The monitoring agency, India Ratings & Research Private Limited, reported no deviation from the stated objectives, with the company maintaining compliance with regulatory requirements for fund deployment.

Operational Highlights

The company's total assets on a standalone basis increased to ₹4,826.69 million as of December 31, 2025, compared to ₹3,576.65 million in the previous year. On a consolidated basis, total segment assets reached ₹10,064.14 million. The company also announced the approval of an Employee Stock Option Scheme (ESOP) for 10,67,301 options under the 'Ravindra Energy Employees Stock Option Scheme 2022', demonstrating its commitment to employee participation in the company's growth.