JUNIPER GREEN ENERGY LTD

Generates electricity from solar and wind, sells it to government-owned off-takers under 25-year power purchase agreements, and combines generation with battery storage to deliver firm and dispatchable round-the-clock power. The project pipeline takes total portfolio to about 11,200 MW plus about 9 GWh of battery storage — 84% in firm and dispatchable format and 98% sold to A+ credit-rated utilities. Q1 FY27 total income rose 79% year-on-year to ₹324 cr with EBITDA up 86% to ₹294 cr at a 91% margin, while generation hit 944 MUs (+72% YoY) at a fleet CUF of 30.2%. Recent wins include an SECI FDRE tender for 870 MW plus 2,200 MWh at ₹5.26 per unit, an SJVN 50 MW PPA at ₹4.25, and a GUVNL 50 MW wind award at ₹3.51, with a blended portfolio tariff of about ₹3.7. FY27 capex is guided at roughly ₹22,000 cr, underwritten in part by the ₹1,800 cr IPO, translating to ₹2,700-2,750 cr run-rate EBITDA for FY27 and about ₹4,500 cr for FY28.