Reliance Power, once viewed as a struggling legacy energy company, is slowly rewriting its story. With a powerful mix of Q4 profitability, significant debt repayment, and a pivot to clean energy, the company has re-entered investor conversations in 2025. Monday’s 12% surge in its share price wasn’t just about a number—it was about a narrative shift.
A solid bounce back in Q4 FY25
After being in the red for several quarters, Reliance Power posted a consolidated net profit of ₹126 crore in Q4 FY25. This turnaround came primarily due to aggressive cost optimisation and improved operational efficiency.
Snapshot of Q4 FY25 vs Q4 FY24:
| Financial Metric | Q4 FY25 | Q4 FY24 |
| Total Income | ₹2,066 crore | ₹2,193.85 crore |
| Total Expenses | ₹1,998.49 crore | ₹2,615.15 crore |
| Net Profit/(Loss) | ₹126 crore | (₹397.56 crore) |
| EBITDA | ₹589.8 crore | ₹48.8 crore |
| EBITDA Margin | 29.8% | 2.4% |
Despite a slight drop in revenue, the company returned to profitability—signalling that it has tightened the screws on operating costs.
Also read: Adani Power Shares Surge after Securing 1500 MW UP Contract
FY25 annual performance: A complete reversal
For the full financial year, Reliance Power reported a net profit of ₹2,947.83 crore, compared to a net loss of ₹2,068.38 crore in FY24. That’s not just recovery—it’s transformation.
Reliance Power’s management also made an impressive move by repaying ₹5,338 crore worth of debt during FY25, reducing its debt-to-equity ratio from 1.61:1 to 0.88:1. In an environment where high leverage can spook investors, this strategic de-leveraging signals better long-term financial stability and renewed investor confidence.
Also read: BSE shares hit record high after 91% rally since March
Big bet on clean energy: 350 MW solar + 700 MWh battery storage win
One of the most important developments was Reliance NU Energies (a subsidiary of Reliance Power) bagging India’s largest Solar + BESS (Battery Energy Storage System) order through a competitive SJVN-led bidding process.
What’s in the project?
- 350 MW of solar generation capacity
- 175 MW/700 MWh battery storage
- To be built under Build-Own-Operate (BOO) model
- Minimum 4-hour daily discharge for peak supply assurance
- Scheduled to go live by FY30
This project, when operational, will position Reliance Power as one of India’s largest players in integrated solar + battery storage—an area where India needs rapid scale-up to balance its renewable grid.
Also read: Ideaforge shares rise despite Q4 loss
The clean energy pipeline just got stronger
The company’s total pipeline in clean energy now stands at:
- 2.5 GWp of planned solar capacity
- >2.5 GWh of energy storage capacity
These numbers are no longer ‘ambitious goals’. With the SJVN win, Reliance Power has started walking the talk.
Market reaction: From forgotten stock to green energy play?
The share price jumped over 12% intraday to ₹42.36, up from ₹38.65 the previous close. Notably:
- It’s one of the sharpest single-day rallies for Reliance Power in recent months.
- The sentiment shift is based on real turnaround metrics—profit, debt reduction, and a sunrise-sector project.
Investors are no longer looking at Reliance Power as just a thermal asset-heavy firm. It’s being re-evaluated as a clean energy transition stock.
You may also read: Bharat Forge Q4 key highlights
Conclusion
From financial distress to future-ready, Reliance Power is entering a new chapter. With FY25 marking a return to profits, sharp debt cuts, and a clean energy mega project in hand, the company may finally be stepping into long-term investor portfolios with renewed purpose.
Whether this momentum sustains depends on execution—but as of now, Reliance Power has everyone’s attention.
