Juniper Green Energy Limited announced a record second quarter for FY27, with total income soaring to INR 372 crore, a 2.3x increase year-on-year. EBITDA also reached a record INR 340 crore, growing 2.6x. The company highlighted robust generation growth and significant capacity additions, including over 316 MW of renewable capacity and 100 MWh of battery storage commissioned during the quarter. The company is on track to meet its full-year commissioning guidance.
Juniper Green Energy Reports Record Q2 FY27 Performance
Juniper Green Energy Limited has announced its financial results for the second quarter of FY27, reporting a record performance across key financial metrics. The company’s total income for the quarter ended September 30, 2026, stood at INR 372 crore, marking a significant 2.3 times increase year-on-year. This represents a 15% sequential growth from the previous quarter.
Record EBITDA and Profitability
EBITDA for Q2 FY27 also reached an all-time high of INR 340 crore, demonstrating a 2.6 times growth compared to the same period last year. The company achieved an impressive EBITDA margin of 91.4%. Profit after tax for the quarter was INR 54 crore, adjusted for one-time expenses related to refinancing and IPO. Cash PAT (adjusted PAT plus depreciation) was INR 153 crore, a 3.9 times increase year-on-year.
Operational Highlights and Capacity Expansion
On the operational front, generation for Q2 FY27 grew by 127% year-on-year to 1,130 million units, with a fleet-wide CUF of 27%. For the first half of FY27, generation stood at 2,075 million units, with a fleet-wide CUF of 28.5%. The company commissioned approximately 316 MW of renewable capacity and around 100 MWh of battery energy storage systems (BESS) during the quarter. In the first seven months of FY27, over 1 GW of capacity has been commissioned, including solar and wind projects, bringing the total operational capacity to 2.8 GW peak plus 600 MWh of BESS.
Future Outlook and Project Pipeline
Juniper Green Energy is on track to meet its full-year commissioning guidance of 2 GW peak of generation capacity and 1.7 GWh of BESS. The company’s total portfolio, including operational and PPA signed capacity, stands at approximately 11.2 GW peak plus 9 GWh of BESS. A significant portion of the portfolio, 86%, is contracted with central agencies, and 98% is secured through long-term PPAs with off-takers rated A or above. The company is also actively building its resource base, with surplus connectivity and land for future projects, and an in-house EPC team executing projects efficiently.
Financial Position and Funding
The company incurred a capex of approximately INR 2,600 crore during the quarter, with cumulative capex reaching close to INR 19,000 crore as of September 30, 2026. Total debt outstanding was INR 13,700 crore, with a net debt of INR 11,600 crore. The company benefits from long-tenor, stable funding from financial institutions and has actively refinanced over INR 2,500 crore of projects. ICRA has upgraded the company’s credit rating to AA- stable, reflecting its strengthening credit profile. Net worth stood at INR 5,200 crore, with a net debt to net worth ratio improving to 2.22x.
Transmission and PPA Developments
The company addressed transmission-related concerns, noting that while some delays have occurred, transmission elements for FY28 commissioned projects were originally scheduled a year earlier. They are confident that FY28 capacity will come online as planned, supported by STU capacity. Discussions are ongoing for converting LOAs into PPAs, with expectations of significant conversion in the near future. The company is actively participating in tenders, with a focus on bids that include battery storage, targeting mid-to-high teen returns.
Source: BSE
