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The Screen · Utilities · Utilities - Renewable
ReNew Energy Global Plc
RNW · Nasdaq · USD · Market cap $2.5B
ReNew Energy Global Plc, together with its subsidiaries, engages in the generation of power through non-conventional and renewable energy sources in India.
FAIL · Does not pass the screen
6.93 USD
Price as of 5 Nov 2026Daily close, not a live quote
Screened 2026-11-05 · the tape above runs as of 18:01 UTC · two dates, stated on purpose · verdict and workings shown in full · never trimmed
Key facts today
Price6.93 USD at the 5 Nov 2026 close
Our value readUndervalued vs our fair value, as of 5 Nov 2026
Positioning no disclosures inside 60 days, left as found
Options put/call open interest 0.00, read 2026-11-02
Ethical does not pass the values gate
Price6.93 USD
Fair value8.72
Ethical score70.0/100
Value readUndervaluedas of 5 Nov 2026
Our investment reviews on this name
2026-10-02Read Accumulation6.84+1.3% to today ✓Markup gives way to Accumulation first Accumulation read since August
2026-09-11Read Markup6.82+1.6% to today ✓Accumulation gives way to Markup after an 11% rise in 4 weeks
2026-08-11Read Accumulation6.17+12.3% to today ✓Markup gives way to Accumulation
2026-07-02Read Markup6.43+7.8% to today ✓First review on file: Markup
Our analytic regime reads on this name, dated and marked against the screened price. Small sample per name, and separate from the daily-framework accuracy on the Track Record page.
ReNew Energy Global Plc holds its Accumulation at $6.93. Consolidating, no directional conviction, held for 57 days.
As held on the ledger · 2026-11-05
Phase
Accumulation
Quantitative state
Consolidating, no directional conviction, held for 57 days
Price at the screen
$6.93
Valuation
18.24 trailing · 9.76 forward price to earnings
Values screen
FAIL· score 70.0
Beta
1.19
The Workings
Five Screens, Shown in Full
Does not pass. Debt ratio
Test
Figure
Limit
What it means
Status
Business activity
Permissible
Core business clean
Its core business isn't built on prohibited lines: no gambling, alcohol, tobacco, weapons, or interest-based lending.
Pass
Debt load
73.96%
Below 33%
Interest-bearing debt is 74.0% of its assets, above the one-third ceiling the screen allows.
Fail
Interest-bearing cash
0.36%
Below 33%
Cash held in interest-bearing accounts and securities is 0.4% of assets, under the one-third limit.
Pass
Receivables
4.08%
Below 49%
Money owed to the company is 4.1% of assets, under the 49% limit.
Pass
Revenue purity
3.07%
Below 5%
Only 3.1% of revenue comes from non-compliant sources, under the 5% line.
Pass
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
The Ethical Read
Why It Falls Short, in Plain English
ReNew Energy Global Plc's business is in a permissible area, but its interest-bearing debt is about 74% of the company, well over the ~33% line, so it does not pass on the financial screens.
Read as at 2026-11-05. It updates when the underlying figures move, and past reads are kept below.
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Get an email when RNW's ethical verdict changes
Today RNW does not pass the screen. If new figures move it to a pass, we send you one short email with the before and after. Verdicts change rarely, so you may not hear from us for a long time.
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What the Numbers Say It Is Worth
The Fair Value Range
Our analysis reads Undervalued vs our fair value, as of 5 Nov 2026: it trades at roughly a 21% discount to our $8.72 fair value, 28.20% revenue growth.
Fair value range in USD, drawn from the 2026-11-05 screen. The gold marker is the market price at the same screen. A 20.5% discount to the base estimate.
Where our models see it going: fair-value estimate $8.72, with a range of $7.99 to $13.32, dated to the 2026-11-05 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The Business, in Plain Words
India's clean power at a thin return
Picture villages switching on to electricity from new wind and solar farms across India. ReNew builds and runs those assets, delivering 10% revenue growth and an 8% profit margin while trading at 8.6 times forward earnings with a 34% gap to stated fair value.
Why we pass. The 8% return on equity and unknown moat give little evidence of durable advantage, and four analysts see almost no upside to the current price even after the ethical screen clears.
Execution risks around Indian regulation, currency moves and thin margins could easily erase the apparent discount if growth slows or costs rise. Analysis, not advice.
Another profit measure, before interest, tax and non-cash costs: EBITDA.
The risks · The things to watch: its business and earnings are exposed to United Kingdom and to currency swings; it carries a real debt load, which raises the stakes if revenue slips.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
RNW trades on Nasdaq (the company is based in United Kingdom). As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The Dated Journal · Newest First, Never Edited
Every Entry, As Written
2026-11-04Accumulation$6.89+0.3%Entry 10
The analysis reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved up 0.3% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is holding around 16% above its long-term trend line with momentum reading neutral. Over the past year the shares are down 13%. Our forward projection puts the odds of a 10% gain over the next month near 24%. The street (4 analysts) rates it strong buy, with a mean price target of $8.
2026-10-28Accumulation$6.87-0.1%Entry 9
The analysis reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved down 0.1% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 16% above its long-term trend line with momentum reading neutral. Over the past year the shares are down 13%. Our forward projection puts the odds of a 10% gain over the next month near 24%. The street (4 analysts) rates it strong buy, with a mean price target of $8.
2026-10-21Accumulation$6.88+0.0%Entry 8
The analysis reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 17% above its long-term trend line with momentum reading neutral. Over the past year the shares are down 13%. Our forward projection puts the odds of a 10% gain over the next month near 24%. The street (4 analysts) rates it strong buy, with a mean price target of $8.
2026-10-14Accumulation$6.88+0.6%Entry 7
The analysis reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved up 0.6% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading overbought. Over the past year the shares are down 13%. Our forward projection puts the odds of a 10% gain over the next month near 24%. The street (4 analysts) rates it strong buy, with a mean price target of $8.
2026-10-02Accumulation · changed$6.84+0.3%Entry 6
The framework has shifted from markup to accumulation since the last review. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved up 0.3% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading overbought. Over the past year the shares are down 13%. Our forward projection puts the odds of a 10% gain over the next month near 24%. The street (4 analysts) rates it strong buy, with a mean price target of $8.
2026-09-11Markup · changed$6.82+10.5%Entry 5
The framework has shifted from accumulation to markup since the last review. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved up 10.5% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading overbought. Over the past year the shares are down 13%. Our forward projection puts the odds of a 10% gain over the next month near 24%. The street (4 analysts) rates it strong buy, with a mean price target of $8.
2026-08-11Accumulation · changed$6.17-4.0%Entry 4
The framework has shifted from markup to accumulation since the last review. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved down 4.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading overbought. Over the past year the shares are down 13%. Our forward projection puts the odds of a 10% gain over the next month near 24%. The street (4 analysts) rates it strong buy, with a mean price target of $8.
2026-07-18Markup$6.43+0.0%Entry 3
Our analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading overbought. Over the past year the shares are down 13%. Our forward projection puts the odds of a 10% gain over the next month near 24%. The street (4 analysts) rates it strong buy, with a mean price target of $8.
2026-07-03Markup$6.43+0.0%Entry 2
Our analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen (70). The risk-adjusted return profile shows modest positive risk-adjusted returns.
2026-07-02Markup$6.43Entry 1
Our analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Ethical screening: PASS with passing ethical screen (70). The risk-adjusted return profile shows modest positive risk-adjusted returns.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.
