Orient Green Power Company Limited Earnings Summary — Q1 FY2027
Orient Green Power Performance Impacted by Moderate Wind Activity; Strategic Repowering and Solar Projects on Track for H2 Operations
Quarterly Business Intelligence
AI Quarterly Scorecard™
Computed deterministically from the last 10 reported quarters.
Quarterly Business Momentum
- Revenue has increased for 3 consecutive quarters.
- Revenue of ₹81 Cr is 6.8% lower year-on-year.
- Revenue has compounded at 43.8% annualised over the last 10 quarters.
- Net profit of ₹23 Cr is 18.9% below the same quarter last year.
- Profit growth is trailing revenue growth this quarter.
- Net profit has compounded at 242.0% annualised across the period.
- Operating margin stands at 67.8% in Q1 FY2027.
- Operating margin compressed by 102 bps year-on-year.
- Over the last two years operating margin has expanded by 345 bps.
- PBT margin is 29.4%.
- Expenses grew -3.7% against revenue growth of -6.8%.
- Operating profit of ₹55 Cr is 8.2% lower year-on-year.
- Operating leverage has been under pressure recently.
- 4 of the last 6 measured quarters delivered year-on-year revenue growth.
- Overall quarterly business momentum scores 62/100 (Healthy) on the latest 10 quarters.
- Business momentum has softened and warrants monitoring.
Quarterly Financials
Last 10 Reported Quarters • All figures in ₹ Crore • Margins in %
| Metric | Trend | Latest Q1 FY2027 | Q4 FY2026 | Q3 FY2026 | Q2 FY2026 | Q1 FY2026 | Q4 FY2025 | Q3 FY2025 | Q2 FY2025 | Q1 FY2025 | Q4 FY2024 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | Strong Uptrend | 81 | 39 | 36 | 131 | 87 | 42 | 35 | 121 | 63 | 36 |
| Expenses | Improving | 26 | 28 | 23 | 31 | 27 | 25 | 23 | 21 | 23 | 22 |
| Operating Profit | Improving | 55 | 10 | 13 | 100 | 60 | 17 | 11 | 100 | 41 | 14 |
| Operating Margin | Volatile | 67.8% | 26.2% | 36.1% | 76.2% | 68.8% | 39.9% | 32.8% | 82.6% | 64.3% | 39.7% |
| Other Income | Accelerating | 5 | 8 | 1 | 18 | 6 | 5 | 5 | 6 | 5 | 1 |
| Interest | Softening | 14 | 13 | 13 | 15 | 16 | 16 | 18 | 19 | 19 | 19 |
| Depreciation | Stable | 23 | 22 | 22 | 22 | 21 | 21 | 21 | 21 | 21 | 21 |
| Profit Before Tax | Strong Uptrend | 24 | -16 | -21 | 81 | 29 | -15 | -22 | 66 | 6 | -25 |
| Tax | Volatile | — | 1 | — | — | — | -0 | 0 | — | 0 | 0 |
| Net Profit | Strong Uptrend | 23 | -18 | -23 | 81 | 29 | -16 | -24 | 67 | 7 | -26 |
| Net Margin | Volatile | 28.8% | -45.6% | -63.5% | 61.8% | 33.1% | -38.4% | -69.6% | 55.0% | 10.8% | -71.6% |
Key Takeaways
- Revenue and EBITDA declined by 7% and 9% respectively due to delayed and moderate wind availability compared to an exceptionally strong Q1 in the previous year.
- The reduction in Net Profit was further exacerbated by lower interest income as rights issue proceeds were moved from deposits to project capex.
- OGPL commissioned one 3.3 MW wind turbine during the quarter, bringing the total to three newly commissioned turbines in the last six months.
- Management has revised the commissioning date for its 17.6 MW solar project and 7.8 MW wind repowering projects to September 30, 2026.
- The Board approved the withdrawal of the cross-border merger of Orient Green Power Europe B.V. (OGPE) into the parent, opting for voluntary liquidation to expedite asset repatriation.
- The group continues to monitor an emphasis of matter regarding REC receivables of ₹2,071 Lakhs currently under stay by the Supreme Court.
- A partial divestment of the Delta subsidiary was completed, reducing OGPL's shareholding from 100% to 70% following preferential allotments.
Management Guidance
Management expects capacity additions and the repowering program to be completed in the upcoming quarter, with operations anticipated to start by H2 FY2026-27. These initiatives, along with a full year of production from recently commissioned assets, are expected to support improved profitability for the full fiscal year.
Sentiment Shift
Stable
While the headline quarterly numbers were down due to seasonality and wind cycles, the underlying project execution for solar and repowering capacity targets remains consistent, supporting long-term stability.
Outlook
The outlook is constructive for the second half of the fiscal as 25.4 MW of fresh and repowered capacity (Solar + Wind) enters the commercial production phase. However, high levels of promoter pledging and dependence on regulatory outcomes for REC payments remain key monitorables.
From the Annual Report (Key Quotes)
“The Generation from recent capacity additions significantly mitigated the impact of shortfall caused by delayed and moderate wind availability.”
“The overall capex program is expected to be completed in the upcoming quarter and is anticipated to be operational from the second half of FY 2026–27.”
“Resolved to liquidate [OGPE] as the same commercial objectives shall be achieved within less time frame compared to the cross-border merger.”
Official Quarterly Documents
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This summary is AI-generated from Orient Green Power Company Limited's latest quarterly filing and earnings call. For informational purposes only — not investment advice.