ReNew Energy Global Plc (RNW) Cash Flow Statement
Where RNW’s cash came from and went, FY2026
March 31, 2026 · Indian rupees- Cash from operations
- ₹23.15B −65.7% vs FY2025
- Capital expenditures
- ₹100.33B 72.1% of revenue
- Free cash flow
- −₹77.18B −55.5% margin
- Returned to shareholders
- —
- Change in cash
- −₹19.41B cash at year-end ₹68.17B
Cash from operations
₹23.15B
Capital expenditures
−₹100.33B
Investments (net)
−₹17.53B
Acquisitions & other
+₹5.76B
Net borrowing (repayment)
+₹52.76B
Shares issued
+₹10.27B
Other financing
+₹6.17B
Currency & other
+₹335.9M
Change in cash
−₹19.41B
Drawn to scale: where the cash came from and how it was used. Hover for values.
RNW operating cash flow, capex and free cash flow
Operating cash flowCapital expendituresFree cash flowFCF margin (right axis)
RNW cash flow trends, FY2017–FY2026
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Operating cash flow | ₹8.99BFY2017 | ₹23.15BFY2026 | +11.1%/yr | |
| Capital expenditures | ₹67.84BFY2017 | ₹100.33BFY2026 | +4.4%/yr | |
| Free cash flow | −₹58.84BFY2017 | −₹77.18BFY2026 | — | |
| Free cash flow margin | −450.1%FY2017 | −55.5%FY2026 | +394.6 pts | |
| Operating cash flow / net income | 26.59FY2017 | 2.12FY2026 | −24.47 | |
| Stock-based compensation | ₹294.8MFY2017 | ₹897.0MFY2026 | +13.2%/yr | |
| Dividends paid | ₹19.61BFY2019 | ₹0FY2026 | −100.0% | |
| Share buybacks (net) | ₹0FY2021 | ₹0FY2026 | — | |
| Capex / revenue | 518.9%FY2017 | 72.1%FY2026 | −446.8 pts |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
RNW cash flow by activity
OperatingInvestingFinancingChange in cash
RNW net income vs operating cash flow
Net incomeOperating cash flow
Operating cash flow above net income usually means earnings are backed by cash (depreciation and stock-based pay are non-cash expenses).
RNW cash flow statement in Indian rupees
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating activities | ||||||||||
| Net income | ₹10.93B | ₹10.03B | ₹8.14B | −₹2.47B | −₹12.23B | −₹5.13B | −₹623.0M | ₹4.93B | ₹300.0M | ₹338.2M |
| Depreciation & amortization | ₹28.13B | ₹20.67B | ₹17.58B | ₹15.90B | ₹13.76B | ₹12.03B | ₹11.24B | ₹9.50B | ₹7.11B | ₹3.82B |
| Stock-based compensation | ₹897.0M | ₹1.28B | ₹1.65B | ₹1.97B | ₹2.41B | ₹203.0M | ₹72.0M | ₹183.0M | ₹403.0M | ₹294.8M |
| Change in working capital | −₹6.43B | −₹5.65B | ₹5.16B | ₹6.87B | −₹5.32B | −₹10.57B | −₹6.65B | −₹9.32B | −₹1.44B | −₹4.72B |
| Other non-cash items | −₹10.38B | ₹41.23B | ₹36.39B | ₹44.40B | ₹43.77B | ₹35.55B | ₹31.05B | ₹24.71B | ₹13.54B | ₹9.26B |
| Cash from operating activities | ₹23.15B | ₹67.56B | ₹68.93B | ₹66.67B | ₹42.39B | ₹32.08B | ₹35.09B | ₹30.00B | ₹19.91B | ₹8.99B |
| Investing activities | ||||||||||
| Capital expenditures | −₹100.33B | −₹93.66B | −₹153.84B | −₹91.38B | −₹89.83B | −₹24.48B | −₹39.30B | −₹61.20B | −₹52.30B | −₹67.84B |
| Investments (net) | −₹17.53B | −₹74.16B | −₹162.53B | −₹71.98B | −₹24.77B | ₹1.45B | −₹15.87B | ₹6.92B | −₹10.16B | — |
| Acquisitions & other investing | ₹5.76B | ₹93.66B | ₹153.84B | ₹83.36B | −₹10.15B | ₹5.62B | ₹1.44B | ₹873.0M | −₹42.12B | ₹7.92B |
| Cash from investing activities | −₹112.10B | −₹74.16B | −₹162.53B | −₹79.99B | −₹124.75B | −₹17.41B | −₹53.72B | −₹53.41B | −₹104.58B | −₹59.92B |
| Financing activities | ||||||||||
| Dividends paid | ₹0 | ₹0 | ₹0 | ₹0 | −₹19.61B | −₹19.61B | −₹19.61B | −₹19.61B | — | — |
| Share repurchases & issuance (net) | ₹0 | ₹0 | −₹4.82B | −₹13.28B | −₹1.31B | ₹0 | — | — | — | — |
| Net borrowing (repayment) | ₹52.76B | ₹76.32B | ₹133.04B | ₹58.38B | ₹77.41B | ₹28.64B | ₹32.90B | ₹45.61B | ₹70.03B | — |
| Shares issued | ₹10.27B | ₹20.0M | ₹7.62B | ₹17.77B | ₹68.00B | ₹0 | ₹20.90B | ₹560.0M | ₹0 | ₹0 |
| Other financing | ₹6.17B | −₹56.35B | −₹53.43B | −₹39.85B | −₹34.45B | −₹16.11B | −₹12.59B | −₹6.95B | ₹1.41B | ₹74.43B |
| Cash from financing activities | ₹69.20B | ₹19.98B | ₹82.42B | ₹23.02B | ₹90.04B | −₹7.08B | ₹21.61B | ₹19.61B | ₹71.44B | ₹74.43B |
| Summary | ||||||||||
| Net change in cash | −₹19.41B | ₹13.40B | −₹11.16B | ₹9.80B | ₹7.70B | ₹7.59B | ₹2.97B | −₹3.80B | −₹13.22B | ₹23.51B |
| Cash at end of period | ₹68.17B | ₹40.42B | ₹27.02B | ₹38.18B | ₹28.38B | ₹20.68B | ₹13.09B | ₹10.12B | ₹13.91B | ₹27.14B |
| Free cash flow | −₹77.18B | −₹26.09B | −₹84.91B | −₹24.70B | −₹47.44B | ₹7.60B | −₹4.21B | −₹31.20B | −₹32.39B | −₹58.84B |
| Free cash flow margin | −55.5% | −26.9% | −104.4% | −31.6% | −79.9% | 15.8% | −8.7% | −72.3% | −131.6% | −450.1% |
| Capex / revenue | 72.1% | 96.5% | 189.2% | 116.8% | 151.4% | 50.8% | 81.2% | 141.8% | 212.4% | 518.9% |
| Operating cash flow / net income | 2.12 | 6.73 | 8.47 | — | — | — | — | 6.08 | 66.37 | 26.59 |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating activities | ||||||||||||
| Net income | ₹5.99B | ₹789.1M | −₹505.0M | ₹5.59B | ₹7.73B | ₹3.02B | −₹2.95B | ₹7.47B | ₹2.49B | ₹609.0M | −₹3.25B | ₹4.72B |
| Depreciation & amortization | ₹7.38B | ₹7.95B | ₹6.46B | ₹6.28B | ₹6.05B | ₹5.37B | ₹5.23B | ₹5.22B | ₹4.84B | ₹4.53B | ₹4.42B | ₹4.43B |
| Stock-based compensation | — | ₹156.0M | ₹296.0M | ₹229.0M | ₹216.0M | ₹274.0M | ₹195.0M | ₹345.0M | ₹463.0M | ₹450.0M | ₹509.0M | ₹380.0M |
| Change in working capital | −₹9.00B | −₹12.0M | ₹6.76B | ₹3.67B | −₹16.84B | ₹1.57B | ₹6.01B | −₹2.87B | −₹10.37B | ₹6.23B | ₹6.49B | −₹2.74B |
| Other non-cash items | ₹1.24B | −₹10.56B | ₹9.64B | ₹13.05B | ₹14.72B | ₹8.77B | ₹9.99B | ₹9.99B | ₹12.48B | ₹5.86B | ₹10.69B | ₹12.13B |
| Cash from operating activities | ₹5.61B | −₹1.68B | ₹22.65B | ₹28.81B | ₹11.88B | ₹19.01B | ₹18.49B | ₹20.16B | ₹9.91B | ₹17.68B | ₹18.85B | ₹18.93B |
| Investing activities | ||||||||||||
| Capital expenditures | −₹27.72B | −₹21.35B | −₹29.67B | −₹31.61B | −₹5.10B | −₹17.86B | −₹18.89B | −₹20.61B | −₹36.31B | −₹34.91B | −₹43.23B | −₹40.78B |
| Investments (net) | −₹9.39B | −₹4.90B | ₹1.95B | −₹37.63B | −₹14.76B | ₹7.41B | −₹21.13B | −₹19.98B | −₹40.45B | −₹29.26B | −₹40.40B | −₹47.52B |
| Acquisitions & other investing | ₹3.33B | ₹999.4M | ₹7.89B | ₹31.61B | ₹5.10B | ₹17.86B | ₹18.89B | ₹20.61B | ₹36.31B | — | ₹43.23B | ₹40.78B |
| Cash from investing activities | −₹33.77B | −₹25.25B | −₹19.82B | −₹37.63B | −₹14.76B | ₹7.41B | −₹21.13B | −₹19.98B | −₹40.45B | — | −₹40.40B | −₹47.52B |
| Financing activities | ||||||||||||
| Dividends paid | ₹0 | ₹0 | −₹6.4M | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | ₹0 | −₹103.53B | −₹70.65B |
| Share repurchases & issuance (net) | — | — | — | — | — | ₹0 | ₹0 | ₹0 | −₹1.31B | ₹0 | −₹1.31B | −₹1.45B |
| Net borrowing (repayment) | ₹17.63B | ₹76.0M | ₹15.14B | ₹21.77B | ₹15.77B | ₹10.09B | ₹18.23B | ₹16.69B | — | — | — | ₹43.28B |
| Shares issued | ₹9.08B | ₹33.0M | ₹112.0M | ₹9.96B | ₹167.0M | ₹0 | ₹982.0M | ₹46.0M | ₹97.0M | ₹459.0M | ₹178.0M | ₹2.58B |
| Other financing | ₹158.5M | ₹2.76B | −₹12.92B | −₹16.88B | −₹20.20B | −₹17.58B | −₹13.06B | −₹15.48B | ₹21.30B | −₹17.77B | ₹157.70B | ₹59.14B |
| Cash from financing activities | ₹26.87B | ₹2.87B | ₹2.33B | ₹14.86B | −₹4.26B | −₹7.49B | ₹6.14B | ₹1.25B | ₹20.08B | −₹17.32B | ₹53.03B | ₹32.91B |
| Summary | ||||||||||||
| Net change in cash | ₹7.47B | −₹17.95B | ₹5.16B | ₹6.07B | −₹7.15B | ₹18.94B | ₹3.50B | ₹1.43B | −₹10.46B | −₹28.90B | ₹31.48B | ₹4.34B |
| Cash at end of period | ₹77.31B | ₹68.17B | ₹44.49B | ₹39.34B | ₹33.27B | ₹40.42B | ₹21.48B | ₹17.98B | ₹16.56B | ₹27.02B | ₹55.91B | ₹24.43B |
| Free cash flow | −₹22.12B | −₹23.03B | −₹7.02B | −₹2.79B | ₹6.77B | ₹1.15B | −₹404.0M | −₹450.0M | −₹26.39B | −₹17.23B | −₹24.38B | −₹21.85B |
| Free cash flow margin | −49.3% | −71.3% | −27.7% | −7.7% | 17.4% | 4.0% | −2.2% | −1.7% | −115.7% | −95.1% | −152.4% | −84.2% |
| Capex / revenue | 61.8% | 66.1% | 117.0% | 87.2% | 13.1% | 61.5% | 102.3% | 77.1% | 159.2% | 192.7% | 270.3% | 157.1% |
| Operating cash flow / net income | 0.94 | −2.13 | — | 5.16 | 1.54 | 6.30 | — | 2.70 | 3.98 | 29.03 | — | 4.01 |
Negative numbers are cash paid out. Quarterly columns are labeled by the month the quarter ended. Figures in Indian rupees as reported; data from EODHD.
RNW cash generation
In fiscal 2026 (ended March 31, 2026), ReNew Energy Global Plc generated ₹23.2 billion of cash from operations (down 65.7%) and spent ₹100.3 billion on capital expenditures, leaving free cash flow of -₹77.2 billion, −55.5% of revenue. Cash and equivalents fell by ₹19.4 billion over the year.
Related: RNW income statement, RNW balance sheet. See the RNW stock overview for the latest quote and news.
RNW cash flow FAQ
What is ReNew Energy Global Plc's free cash flow?
ReNew Energy Global Plc's free cash flow was -₹77.2 billion in fiscal 2026: ₹23.2 billion of operating cash flow minus ₹100.3 billion of capital expenditures It was -₹26.1 billion a year earlier..
How much cash does ReNew Energy Global Plc generate from operations?
ReNew Energy Global Plc generated ₹23.2 billion of cash from operating activities in fiscal 2026, 2.12 times its net income of ₹10.9 billion.
How much does ReNew Energy Global Plc spend on capital expenditures?
ReNew Energy Global Plc spent ₹100.3 billion on capital expenditures in fiscal 2026, 72.1% of revenue, compared with ₹93.7 billion the year before.