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.

Ravindra Energy shares experienced a significant surge of 11% following the company's announcement of securing multiple Letters of Award from Hubli Electricity Supply Company Limited (HESCOM). The solar energy company has been awarded contracts to develop 62 MW of solar power projects across Karnataka, marking a substantial milestone in its expansion strategy.

Major Solar Project Award Details

The company secured 13 Letters of Award from HESCOM to develop and operate solar power projects under the Build-Own-Operate (BOO) model. This comprehensive arrangement positions Ravindra Energy as the complete owner and operator of the solar infrastructure across 13 separate locations in Karnataka.

The Build-Own-Operate model ensures that Ravindra Energy maintains complete ownership of the solar assets while guaranteeing a steady revenue stream through HESCOM's commitment to purchase all generated electricity for the next 25 years. This arrangement provides the company with predictable cash flows and long-term revenue visibility.

Strong Financial Performance in Q2 FY26

The company demonstrated exceptional financial growth in its recent quarterly results, showcasing its expanding market presence and operational efficiency.

The remarkable year-on-year revenue growth of 650% demonstrates the company's rapid scaling capabilities, while the substantial improvement in profitability indicates effective cost management and operational leverage.

Market Performance and Valuation

Ravindra Energy's stock performance reflects strong investor confidence in the company's growth trajectory and market positioning.

The stock's five-year return of 292% significantly outperforms the broader market, with NIFTY 50 delivering 80% returns over the same period, highlighting the company's superior performance in the renewable energy sector.

Operational Infrastructure and Capacity

Ravindra Energy has established a substantial operational footprint across multiple states, focusing on solar power generation and related services. The company currently operates solar facilities across strategic locations in Maharashtra and Karnataka.

Current Operational Capacity:

• Maharashtra: 117 MWp capacity across 17 locations
• Karnataka: 34 MWp capacity across 14 strategic locations
• Under Construction: 76 MWp projects in Maharashtra at 17 locations

The company's business model encompasses selling solar pumps, setting up solar generation power plants (both ground mount and rooftop), and generation and sale of power. Ravindra Energy has received accreditation from the Ministry of New and Renewable Energy (MNRE) and recognition for installing solar water pumps, supporting India's renewable energy initiatives.

Strategic Implications

The HESCOM contract represents more than a typical project award for Ravindra Energy. The 25-year power purchase agreement provides revenue certainty, while the BOO model ensures asset ownership and long-term value creation. With low ongoing operational expenses expected once projects become operational, the company anticipates stable cash flows and sustained growth momentum. The commissioning timeline of one year demonstrates the company's execution capabilities and commitment to rapid project deployment.