Juniper Green Energy (JNPR) Q2 26/27 earnings summary

Executive summary

• Q2 FY27 total income reached INR 372 crore, EBITDA INR 340 crore and generation 1,130 million units; consolidated net profit was Rs 305.87 million versus a year-earlier loss.

• Operational capacity reached 2,844 MWp and 604 MWh of BESS; the total portfolio stood at 11,218 MWp and 8,989 MWh of BESS.

• FY27-to-date commissioning totaled 1,036 MWp of renewable capacity and 503 MWh of BESS across 11 sites in three states.

• FDRE and hybrid/storage-backed supply represented 84% of the portfolio.

Financial highlights

• Q2 FY27 total income was INR 372 crore, up 2.3x YoY and 15% QoQ; operating income was INR 345 crore, up 2.4x YoY.

• Q2 EBITDA was INR 340 crore, up 2.6x YoY; operating EBITDA was INR 313 crore, up 2.7x YoY.

• Q2 adjusted PAT was INR 54 crore versus a loss of INR 18 crore in Q2 FY26; consolidated net profit was Rs 305.87 million versus a net loss of Rs 184.04 million.

• H1 FY27 total income was INR 696 crore, EBITDA INR 634 crore, operating EBITDA INR 574 crore and adjusted PAT INR 106 crore.

• H1 consolidated revenue was Rs 6,358.54 million versus Rs 3,065.63 million; consolidated net profit was Rs 640.39 million versus Rs 32.83 million.

Outlook and guidance

• FY27 commissioning guidance remains 2 GWp of generation capacity and 1.7 GWh of BESS; more than 1 GWp and 503 MWh of BESS were commissioned in the first seven months.

• FY27 CapEx is forecast at INR 24,000 crore, including INR 5,000 crore in the remaining six months.

• BESS installation targets are ~4,500 MWh by June 2027 and ~10,000 MWh by March 2028.

• Capacity commissioned by March 2027 is expected to reach ~3.9 GWp, with an EBITDA run rate of INR 2,750 crore.

• More than 1–1.3 GWp of LOA capacity, with additional batteries, is expected to convert to PPAs over the next 1–1.5 months.