Orient Green Power Reports Q1 FY27 Results, Announces Liquidation of European Subsidiary

Orient Green Power Reports Q1 FY27 Results, Announces Liquidation of European Subsidiary​

Chennai, July 22, 2026 - Orient Green Power Company Limited (OGPL), a major independent renewable power producer in India, has released its financial results for the first quarter of fiscal year 2027. The company also announced significant strategic shifts, including approving the voluntary liquidation of its European subsidiary and providing an updated timeline for several repowering initiatives.

The Board of Directors reviewed the consolidated un-audited financial results for the quarter ended June 30, 2026, along with standalone results, and addressed various operational and corporate matters in a meeting held on July 22, 2026.

Financial Performance Highlights (Consolidated)​

The company reported consolidated figures showing lower performance year-on-year due to moderate wind availability during the quarter. Key financial metrics for Q1 FY27 are as follows:


In the standalone results, Q1 FY27 saw Continuing Operations post-tax profit of ₹41 lakhs, while Total Profit/(Loss) Before Tax stood at ₹40 lakhs. The company also reported a Net Loss from Discontinued Operations for the quarter.

Operational Updates and Project Timelines​

OGPL continues to advance its capacity expansion and repowering initiatives across its wind and solar assets.

The Board has granted September 30, 2026, as the revised date of commencement of commercial production for two key projects:
1. A 17.6 MW AC solar power project committed under a rights issue, expected to be commissioned by September 30, 2026, subject to regulatory approvals.
2. A repowering initiative involving an existing 7.8 MW wind turbine capacity.

In other operational updates:

• The company commissioned one 3.3 MW wind turbine during the quarter, adding to two such turbines commissioned in the previous quarter.
• Repowering efforts for an existing 6.3 MW wind farm at Devarkulam site are expected to be completed by September 30, 2026, pending regulatory approvals.
• The company is developing a 17.6 MW AC solar power project through EPC contract with capacity restricted to 24.6 MW AC.

Corporate Restructuring and Rights Issue Status​

European Subsidiary Liquidation: To expedite asset repatriation and minimize delays associated with the proposed cross-border merger, the Board decided to withdraw the merger proposal involving Orient Green Power Europe B.V. (OGPE) and approved the voluntary liquidation of OGPE.

Rights Issue Utilization: The company confirmed that during FY 2024-25, a rights issue for Equity Shares was conducted, raising ₹25,000 lakhs against an aggregation of ₹250 Crores. As of June 30, 2026, the company utilized ₹22,165.93 lakhs toward the objects of the issue and related expenses. The unspent proceeds amounted to ₹2,834.07 lakhs, which are held in fixed deposits with banks by OGPL and its subsidiary, Delta Renewable Energy Private Limited.

Management Commentary​

Commenting on the results, Mr. T Shivaraman, Managing Director & CEO, noted that Q1 experienced moderate wind availability compared to the exceptionally strong conditions of the corresponding quarter in the previous year. This led to a 7% decline in YoY revenues and a 9% drop in EBITDA. He attributed the net profit margin decline by 16% to reduced interest income following the utilization of rights issue proceeds, combined with an increase in depreciation from recent capacity additions.

Mr. Shivaraman stated that the commissioned assets, along with planned initiatives such as increasing solar project capacity (from 19.8 MW AC to 25 MW AC) and repowering older wind assets, are expected to generate improved returns and support sustained growth momentum in the coming fiscal year.

GREENPOWER Stock Price Movement​

On Wednesday, Orient Green Power Company Limited shares rallied, gaining 0.57% to settle at ₹10.57 after trading throughout the session. The equity saw substantial volume, registering a total traded quantity of 3.09 million shares.