GRE Renew Enertech Reports Strong FY 2025-26 Financials

Consolidated PAT up 93% to ₹1,358 Lacs; Revenue climbs 47% to ₹12,292 Lacs.

Reader Takeaway: Revenue growth and a healthy order book drive performance, though auditor turnover remains a monitoring point.

What just happened

GRE Renew Enertech has announced its consolidated financial results for FY 2025-26, showing significant growth across key metrics. Revenue reached ₹12,292 Lacs, while EBITDA grew 71% to ₹1,614 Lacs. The company, which listed on the BSE SME platform in January 2026, confirmed an order book valued at ₹24,801 Lacs as of July 2026.

Why this matters

The jump in profitability highlights the company's scaling capability in the solar EPC sector. With a 13.10% EBITDA margin, the firm is improving operational efficiency. The transition toward the RESCO model is critical as it promises to move the business away from purely one-off EPC contracts toward more predictable, annuity-style cash flows.

The backstory

Following its successful IPO which raised ₹3,956.40 Lacs, the company has deployed ₹2,386.38 Lacs as of March 2026. A portion of these funds was directed toward ground-mounted solar power plants. Shareholders recently approved a minor reallocation of funds to general corporate purposes.

Auditor Update

The company is transitioning to a new statutory auditor. M/s. Dhiren H Pandya & Associates LLP resigned in August 2026, and the board has proposed M/s. Manubhai & Shah LLP as the successor, pending shareholder approval at the upcoming AGM.

Risks to watch

Investors should monitor the execution of the ₹24,801 Lacs order book, as project delays can impact revenue recognition. Additionally, the transition to the new auditor requires shareholder approval to finalize the transition process.

What to track next

Watch for updates on the deployment of remaining IPO proceeds and the scaling of RESCO-model projects. Future quarterly disclosures will reveal if the current EBITDA margin expansion is sustainable.