Orient Green Power

Listed Wind — per-stock model.

As of 21 Aug 2026

Wind—

CMP ₹9NSE: GREENPOWER

Latest concall

Q4 FY26 · 13 May 2026

Operating capacity ~399 MW (392 MW wind + 7 MW solar); +9.9 MW wind added in FY26
FY26 PAT ₹71.6 cr (+70%); Q4 seasonal net loss ₹16.6 cr on weak March-quarter wind
7 MW Tamil Nadu solar commissioned Dec 2025; ~₹16 cr interest refund aided FY26
PLF: newer turbines ~22% vs ~17% older; repowering targeting >30% PLF

Order-book execution

6.6 MW wind (₹62 cr RenFra contract) targeted for commissioning by 31 Jul 2026; initial repowering underway.

Management guidance

1 GW capacity target retained but slowed; ~50 MW addable from internal accruals
Repower 10 MW old turbines with 6 MW new Suzlon 2.1 MW units; 17.6 MW solar + 9.9 MW wind planned
Larger expansion needs external equity; multiple financing options under evaluation

Q4 & FY26 earnings call (13 May 2026, T. Shivaraman/J. Kotteswari); company filings

Revenue FY26E

293₹ cr

EBITDA margin

62%

P/E

20.8×

Financials

Annual · ₹ crore · E = estimate.

Annual financials

₹ crore · FY25 → FY28E

Period	Revenue	EBITDA	EBITDA %	PAT	Gross %	ROE %	ROCE %	Capex	Net debt	EPS ₹	WC days
FY15	340	242	71.0%	-244	—	—	—	—	—	-2.6	—
FY16	296	195	66.0%	-340	—	—	—	—	—	-2.9	—
FY17	380	274	72.0%	-96	—	—	—	—	—	-0.8	—
FY18	357	224	63.0%	-71	—	—	—	—	—	-0.6	—
FY19	323	216	67.0%	-49	—	—	—	—	—	-0.4	—
FY20	369	262	71.0%	20	—	—	—	—	—	0.2	—
FY21	257	164	64.0%	-57	—	—	—	—	—	-0.5	—
FY22	311	224	72.0%	36	—	—	—	—	—	0.3	—
FY23	258	171	66.0%	33	—	—	—	—	—	0.3	—
FY24	271	180	66.0%	38	—	—	—	—	—	0.3	—
FY25	260	169	65.0%	42	—	—	—	—	—	0.3	—
FY26	293	183	62.0%	72	—	—	—	—	—	0.6	—

Source Market data (mid-2026) + company filings· As of 21 Aug 2026

Revenue, EBITDA & margin

Bars ₹cr (left) · margin % (right)

Source Market data (mid-2026) + company filings· As of 21 Aug 2026

Quarterly

₹ crore · recent quarters.

Quarterly financials

₹ crore

Quarter	Revenue	EBITDA	EBITDA %	PAT	PAT %
Q1FY24	79	58	74.0%	9	11.4%
Q2FY24	122	100	82.0%	75	61.5%
Q3FY24	34	14	41.0%	-21	-61.8%
Q4FY24	36	14	40.0%	-25	-69.4%
Q1FY25	63	41	64.0%	6	9.5%
Q2FY25	121	100	83.0%	66	54.5%
Q3FY25	35	11	33.0%	-22	-62.9%
Q4FY25	42	17	40.0%	-15	-35.7%
Q1FY26	87	60	69.0%	29	33.3%
Q2FY26	131	100	76.0%	81	61.8%
Q3FY26	36	13	36.0%	-21	-58.3%
Q4FY26	39	10	26.0%	-17	-43.6%
Q1FY27	81	55	68.0%	24	29.6%

Source Market data (mid-2026) + company filings· As of 21 Aug 2026

Revenue & margin trend

Bars ₹cr (left) · margin % (right)

Source Market data (mid-2026) + company filings· As of 21 Aug 2026

Valuation

As of 21 Aug 2026

P/E

20.8×

EV / EBITDA

9.2×

P/B

1.0×

Operating metrics

What the rest of the dashboard tracks for Orient Green Power — capacity, auctions, offtake, manufacturing and returns.

Commissioning pipeline

Guided COD tracked from concalls, with slippage vs earlier guidance

IPPs

Project	Capacity	Original	Current	Slip	Status
First solar plant (17.6 MW) Delayed early on land due-diligence ('big hole in the land'), trimmed 18->17.6 MW; commissioning holds Q1FY27, full output drifts to Q2FY27.	0.0176 GW	Q4 FY26	Q1 FY27	+1Q	delayed
Devarkulam wind repowering (6.3 MW) First repowering under TN Life-Extension Policy; enabling policy slipped repeatedly through FY26, benefits now only in H2FY27.	0.0063 GW	Q4 FY26	Q1 FY27	+1Q	delayed

Operating & order mix

Unit economics and the order book.

Shareholding

% · as of 30 Jun 2026

Shareholding pattern

Source Market data (mid-2026) + company filings· As of 21 Aug 2026