Reliance Power FY26 Results: ₹7,620 Cr Revenue, ₹337 Cr Loss

Mumbai: Reliance Power Limited (BSE: 532939, NSE: RPOWER) today announced its audited financial results for the quarter and financial year ended March 31, 2026. While the company maintained steady operational revenue, it reported a consolidated net loss primarily due to a significant impairment provision at one of its solar subsidiaries.

Key Financial Highlights (Consolidated)

Revenue from Operations: ₹7,620 Cr (FY26) vs ₹7,583 Cr (FY25)
Total Income: ₹7,989 Cr (FY26) vs ₹8,257 Cr (FY25)
Net Loss: ₹337 Cr (FY26) compared to Net Profit of ₹2,948 Cr in FY25
Exceptional Item: ₹382 Cr impairment provision on Property, Plant & Equipment at Rajasthan Sun Technique Energy Private Limited (RSTEPL)
EBITDA (before exceptional items): Positive operational performance maintained despite challenges

Q4 FY26 saw a consolidated loss of ₹494 Cr, largely impacted by the impairment.

On a standalone basis, the company reported a modest profit before tax of ₹13.37 Cr for FY26 against a loss in the previous year.

Balance Sheet Snapshot

Total Assets: ₹41,293 Cr as on March 31, 2026
Equity: ₹16,039 Cr
Cash and cash equivalents improved significantly to ₹1,224 Cr from ₹440 Cr

The company highlighted strong cash flow from operations at ₹2,824 Cr for the year.

Board Decisions & Strategic Moves

In the Board Meeting held on May 21, 2026, directors approved several key initiatives:

Appointment of Dr. Avinash Gupta (DIN: 02784546) as Additional Independent Director for 5 years, subject to shareholder approval.
New Statutory Auditor: M/s Kailash Chand Jain & Co. appointed for 5 years from the 32nd AGM.
Fundraising Plans:
- Up to ₹6,000 Cr via Qualified Institutions Placement (QIP), Follow-on Public Offer (FPO), or combination.
- Up to ₹3,000 Cr via secured/unsecured Non-Convertible Debentures (NCDs) on private placement basis.

These moves signal the company’s aggressive push to strengthen its balance sheet and fund growth in the power sector.

Challenges & Going Concern Notes

The results come with auditor qualifications and emphasis of matter paragraphs regarding:

Material uncertainty at subsidiaries RSTEPL and Samalkot Power Limited (SMPL) due to ongoing losses, debt defaults, and litigation.
Impairment assessment and receivable recoverability at Dhursar Solar Power Pvt Ltd.
Ongoing Enforcement Directorate (ED) investigations and SEBI forensic audit.

Management remains confident in resolution through asset monetization, arbitration outcomes, and lender discussions, maintaining the going concern basis for preparation of accounts.

Leadership Comment

Neeraj Parakh, Executive Director, CEO & CFO, stated that the company is focused on operational improvements, debt resolution, and capitalizing on opportunities in the renewable and conventional power space.

Stock Impact: This is a critical update for RPOWER shareholders. The fundraising authorization could provide much-needed liquidity while the impairment reflects challenges in the solar portfolio.