Ravindra Energy Limited (REL) has announced an update regarding its Renewable Energy and Electric Vehicle (EV) business activities. The company has submitted its quarterly financial results for the 3rd Quarter ended December 31, 2025, to the stock exchanges and completed all necessary board meeting filings.

In its Renewable Energy business, REL has 187 MW DC of operating assets, including Agri Feeder Projects in Karnataka (34 MW), Rooftop and Wind assets (6 MW), and MSKVY Phase 1 (136 MW across 19 projects), all of which are generating as per target.

Under construction is 60 MW DC, comprising MSKVY Phase 2 (57 MW/15 projects), with land registered and work commissioned in 11 projects, aiming for full capacity commissioning before March 31, 2026. Additionally, 3.5 MW of open access projects are in progress, with a 1 MW steel company project expected to commission before January 31, 2026, and a 2.5 MW pharma company project commencing shortly.

The company's development pipeline includes 235 MW DC, such as HESCOM (62 MW AC/71 MW DC), with a Letter of Award received and Power Purchase Agreement (PPA) expected by January 31, 2026, and a tariff of ₹2.93 per unit. MSKVY Phase 3 (120 MW AC/150 MW DC/23 projects) is awaiting MERC approval for PPA signing, expected in January 2026. A pipeline of 15 MW for open access is also under advanced conversation with customers, with PPAs likely before January 31, 2026.

In the EV business, REL expects an additional 8 swap stations to be commissioned by March 2026, supporting a sales pipeline of 275 vehicles. YES Bank Limited has sanctioned financial assistance of ₹296 Crore for credit facilities and a ₹32 Crore hedge facility.

Key operating data for Q3 FY26 shows 55 vehicles sold, 1 operating swap station, and 3,585 swaps. Revenue from operations (Vehicle Sales & BAAS) was ₹34.76 crore, with a Profit After Tax (PAT) of -₹4.56 crore for the quarter.