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Costamare Inc. Sets the Date for its Fourth Quarter 2025 Results Release, Conference Call and Webcast


Earnings Release: Wednesday, February 18, 2026, Before Market Opens



Conference Call and Webcast: Wednesday, February 18, 2026, at 8:30 a.m. ET

MONACO, Feb. 16, 2026 (GLOBE NEWSWIRE) — Costamare Inc. (NYSE:CMRE) (the “Company”), announced today that it will release its results for the fourth quarter ended December 31, 2025 before the market opens in New York on February 18, 2026.

Conference Call Details:

On Wednesday, February 18, 2026 at 8:30 a.m. ET, Costamare’s management team will hold a conference call to discuss the financial results.

Participants should dial into the call 10 minutes before the scheduled time using the following numbers: 1-844-887-9405 (from the US), 0800-279-9489 (from the UK) or +1-412-317-9258 (from outside the US). Please quote “Costamare”.

A replay of the conference call will be available until February 25, 2026. The United States replay number is +1-855-669-9658; the standard international replay number is +1-412-317-0088; and the access code required for the replay is: 9354650.

Live Webcast:

There will also be a simultaneous live webcast over the Internet, through the Costamare Inc. website (www.costamare.com). Participants to the live webcast should register on the website approximately 10 minutes prior to the start of the webcast.

About Costamare Inc.

Costamare Inc. is one of the world’s leading owners and providers of containerships for charter. The Company has 52 years of history in the international shipping industry and a fleet of 69 containerships, with a total capacity of approximately 520,000 TEU. The Company also has six newbuild containerships under construction with a total capacity of 18,600 TEU. The Company also participates in a leasing business. The Company’s common stock, Series B Preferred Stock, Series C Preferred Stock and Series D Preferred Stock trade on the New York Stock Exchange under the symbols “CMRE”, “CMRE PR B”, “CMRE PR C” and “CMRE PR D”, respectively.

Forward-Looking Statements

This press release contains “forward-looking statements”. In some cases, you can identify these statements by forward-looking words such as “believe”, “intend”, “anticipate”, “estimate”, “project”, “forecast”, “plan”, “potential”, “may”, “should”, “could” and “expect” and similar expressions. These statements are not historical facts but instead represent only the Company’s beliefs regarding future results, many of which, by their nature, are inherently uncertain and outside of the Company’s control. It is possible that actual results may differ, possibly materially, from those anticipated in these forward-looking statements. For a discussion of some of the risks and important factors that could affect future results, see the discussion in the Company’s Annual Report on Form 20-F (File No. 001-34934).

Company Contacts:

Gregory Zikos – Chief Financial Officer
Konstantinos Tsakalidis – Business Development, Investor Relations

Costamare Inc., Monaco
Tel: (+377) 93 25 09 40
Email: [email protected]

        



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ReNew Announces Results for the Third Quarter of Fiscal 2026 (Q3 FY26) and Nine Months of Fiscal 2026, both ended December 31, 2025

ReNew Announces Results for the Third Quarter of Fiscal 2026 (Q3 FY26) and Nine Months of Fiscal 2026, both ended December 31, 2025

GURUGRAM, India–(BUSINESS WIRE)–
ReNew Energy Global Plc (“ReNew” or “the Company”) (Nasdaq: RNW, RNWWW), a leading decarbonization solutions company, today announced its unaudited consolidated IFRS results for Q3 FY26 and nine months ended December 31, 2025.

Operating Highlights:

  • As of December 31, 2025, the Company’s portfolio consisted of ~19.2 GWs (including 1.5 GW of BESS), compared to ~17.4 GWs as of December 31, 2024. In addition, the Company has 6.5 GW of solar module manufacturing facilities, a 2.5 GW solar cell manufacturing facility which is operational and a 4 GW solar cell manufacturing facility which is in the process of being built.

  • The Company’s commissioned capacity has increased 7% year-over-year to ~11.4 GWs (+100 MW BESS) as of December 31, 2025. Subsequently, the Company commissioned ~240 MWs, taking the total capacity as on date to ~11.7 GWs (+100 MW BESS).

  • Total Income (or total revenue) for Q3 FY26 was INR 31,372 million (US$ 349 million), compared to INR 21,198 million (US$ 236 million) for Q3 FY25. Net loss for Q3 FY26 was INR 198 million (US$ 2 million) compared to loss of INR 3,879 million (US$ 43 million) for Q3 FY25. Adjusted EBITDA for Q3 FY26 was INR 21,381 million (US$ 238 million), as against INR 13,882 million (US$ 155 million) in Q3 FY25.

  • Total Income (or total revenue) for the first nine months of FY26 was INR 111,087 million (US$ 1,236 million), compared to INR 75,911 million (US$ 845 million) for the first nine months of FY25. Net profit for first nine months of FY26 was INR 9,608 million (US$ 107 million) compared to INR 1,454 million (US$ 16 million) for the first nine months of FY25. Adjusted EBITDA for the first nine months of FY26 was INR 74,840 million (US$ 833 million), against INR 57,070 million (US$ 635 million) for the first nine months of FY25.

  • Revenue from the sale of power for Q3 FY26 was INR 18,290 million (US$ 204 million), compared to INR 14,991 million (US$ 167 million) for Q3 FY25. Revenue from the sale of power for the first nine months of FY26 was INR 69,838 million (US$ 777 million) compared to INR 64,375 million (US$ 717 million) for the first nine months of FY25.

  • Total Income (or total revenue) for Q3 FY26 from external sales of our solar module and cell manufacturing operations was INR 6,663 million (US$ 74 million). Net profit and Adjusted EBITDA for Q3 FY26 from external sales of our solar module and cell manufacturing operations was INR 1,080 million (US$ 12 million) and INR 2,151 million (US$ 24 million) respectively.

  • Total Income (or total revenue) for the first nine months of FY26 includes external sales from our solar module and cell manufacturing operations amounting to INR 30,014 million (US$ 334 million), compared to INR 3,459 million (US$39 million) for the first nine months of FY25. Net profit and Adjusted EBITDA for the first nine months of FY26 from external sales from our solar module and cell manufacturing operations was INR 6,847 million (US$ 76 million) and INR 10,771 million (US$ 120 million) respectively, compared to INR 423 (US$ 5 million) and INR 597 (US$ 7 million) respectively for the first nine months of FY25.

Note: the translation of Indian rupee amounts into U.S. dollars has been made at INR 89.84 to US$ 1.00. See note below for more information.

Key Operating Metrics

In Q3 FY26, we commissioned 288 MWs, which included 238 MWs of wind and 50 MWs of solar capacity. In the first nine months of FY26, we commissioned 1.3 GWs, of which 578 MWs was wind and 751 MWs was solar. Subsequent to the end of the quarter, the Company commissioned ~240 MWs, taking the total commissioned capacity as on date to ~11.7 GWs (+100 MW BESS).

As of December 31, 2025, our total portfolio consisted of ~19.2 GWs (including 1.5 GW of BESS) and commissioned capacity was ~11.4 GWs (+100 MW BESS), of which ~5.5 GWs were wind, ~5.8 GWs were solar and 99 MWs were hydro. Our commissioned capacity increased by 7% year over year, net of the 600 MWs of assets sold in the first nine months of FY26 and 300 MWs sold in Q4 FY25 as part of our capital recycling strategy.

Electricity Sold

Total electricity sold in Q3 FY26 was 5,077 million kWh, an increase of 23.1% over Q3 FY25. Electricity sold in Q3 FY26 from wind assets was 2,178 million kWh, an increase of 52.2% from Q3 FY25. Electricity sold in Q3 FY26 from solar assets was 2,812 million kWh, an increase of 7.9% over Q3 FY25. Electricity sold for Q3 FY26 from hydro assets was 87 million kWh, an increase of 1.2% over Q3 FY25.

Total electricity sold in the first nine months of FY26 was 18,874 million kWh, an increase of 14.0% over the first nine months of FY26. Electricity sold in the first nine months of FY26 from wind assets was 9,901 million kWh, an increase of 17.5% over the first nine months of FY25. Electricity sold in the first nine months of FY26 from solar assets was 8,579 million kWh, an increase of 10.8% over the first nine months of FY25. Electricity sold in the first nine months of FY26 from hydro assets was 394 million kWh, a marginal decrease of 0.3% from the first nine months of FY25.

Plant Load Factor

Our weighted average Plant Load Factor (“PLF”) for Q3 FY26 for wind assets was 18.1%, compared to 13.5% for Q3 FY25. The PLF for Q3 FY26 for solar assets was 20.9%, compared to 21.9% for Q3 FY25.

Our weighted average PLF for the first nine months of FY26 for wind assets was 29.1%, compared to 26.7% for the first nine months of FY25. The PLF for the first nine months of FY26 for solar assets was 21.6%, compared to 23.5% for the first nine months of FY25.

Total Income

Total Income for Q3 FY26 was INR 31,372 million (US$ 349 million), compared to INR 21,198 million (US$ 236 million) for Q3 FY25. Total income benefited from higher revenue driven by an increase in operational capacity, gain on sale of assets, higher wind PLF and increase in external sales from our solar module and cell manufacturing operations, partially offset by revenue loss from sale of assets as part of our capital recycling strategy and lower solar PLF. Total Income includes finance income and fair value change in warrants of INR 1,205 million (US$ 14 million) and gain on sale of assets amounting to INR 4,622 million (US$ 51 million).

Total Income (or total revenue) for Q3 FY26 from external sales of our solar module and cell manufacturing operations was INR 6,663 million (US$ 74 million), which was double the total income from Q3 FY25.

Total Income for the first nine months of FY26 was INR 111,087 million (US$ 1,236 million), compared to INR 75,911 million (US$ 845 million) for the first nine months of FY25. Total income benefited from higher revenue driven by an increase in operational capacity, gain on sale of assets, higher wind PLF and increase in external sales from our solar module and cell manufacturing operations, partially offset by revenue loss from sale of assets as part of our capital recycling strategy and lower solar PLF. Total Income for the first nine months of FY26 includes finance income and fair value change in warrants of INR 3,623 million (US$ 40 million).

Total Income (or total revenue) for the first nine months of FY26 includes external income from our solar module and cell manufacturing operations amounting to INR 30,014 million (US$ 334 million), compared to INR 3,459 million (US$39 million) for the first nine months of FY25.

Raw Materials and Consumables Used (net of change in inventory)

Raw materials and consumables used for Q3 FY26 were INR 3,150 million (US$ 35 million) compared to INR 2,575 million (US$ 29 million) for Q3 FY25. Raw materials and consumables used are primarily attributable to external sales from our solar module and cell manufacturing operations.

Raw materials and consumables used for the first nine months of FY26 were INR 15,448 million (US$ 172 million), compared to INR 3,225 million (US$ 36 million) for the first nine months of FY25. Raw materials and consumables used are primarily attributable to external sales from our solar module and cell manufacturing operations.

Employee Benefits Expense

Employee benefits expense for Q3 FY26 was INR 1,303 million (US$ 15 million), compared to INR 816 million (US$ 9 million) due to an increase in headcount primarily attributable to external sales of our solar module and cell manufacturing operations.

Employee benefits expense for Q3 FY26 includes expense attributable to external sales of our solar module and cell manufacturing operations amounting to INR 400 million (US$ 4 million).

Employee benefits expense for the first nine months of FY26 was INR 4,341 million (US$ 48 million), compared to 3,409 million (US$ 38 million) for the first nine months of FY25, an increase of 27.3%, due to an increase in headcount primarily attributable to external sales from our solar module and cell manufacturing operations.

Employee benefits expense attributable to external sales from our solar module and cell manufacturing operations for the first nine months of FY26 was INR 1,275 million (US$ 14 million), compared to INR 44 million (US$ 0.5 million) for the first nine months of FY25.

Other Expenses

Other Expenses for Q3 FY26 were INR 4,976 million (US$ 55 million), compared to INR 2,612 million (US$ 29 million) for Q3 FY25. The increase was primarily due to expenses related to external sales from our solar module and cell manufacturing operations, higher professional fees, and higher operations and maintenance costs related to MWs commissioned since Q3 FY25.

Other Expenses for Q3 FY26 include expenses attributable to external sales from our solar module and cell manufacturing operations amounting to INR 1,007 million (US$ 11 million).

Other Expenses for the first nine months of FY26 were INR 13,923 million (US$ 155 million), compared to INR 9,119 (US$ 102 million) for the first nine months of FY25. The increase was primarily due to external sales from our solar module and cell manufacturing operations, higher professional fees, and higher operations and maintenance costs in line with increased capacity.

Other Expenses for the first nine months of FY26 include expense attributable to external sales of our solar module and cell manufacturing operations amounting to INR 2,339 million (US$ 26 million), compared to INR 157 million (US$ 2 million) for the first nine months of FY25.

Finance Costs and Fair Value Change in Derivative Instruments

Finance costs and fair value change in derivative instruments for Q3 FY26 were INR 15,992 million (US$ 178 million), an increase of 24.2% over Q3 FY25. The increase in finance costs was primarily due to an increase in operational assets from Q3 FY25, and finance costs associated with manufacturing operations.

Finance costs and fair value change in derivative instruments for Q3 FY26 includes expense attributable to external sales from our solar module and cell manufacturing operations amounting to INR 398 million (US$ 4 million).

Finance costs and fair value change in derivative instruments for the first nine months of FY26 were INR 45,771 million (US$ 509 million), an increase of 21.4% over the first nine months of FY25. The increase in finance costs was primarily due to an increase in operational assets from Q3 FY25.

Finance costs for our solar module and cell manufacturing operations for the first nine months of FY26 were INR 1,273 million (US$ 14 million) compared to INR 50 million (US$ 0.6 million) for first nine months of FY25.

Net Profit

The net loss for Q3 FY26 was INR 198 million (US$ 2 million) compared to net loss of INR 3,879 million (US$ 43 million) for Q3 FY25. The decrease in loss is primarily driven by contribution from external sales from external sales of our solar module and cell manufacturing operations, gain on sale of assets amounting to INR 4,622 million (US$ 51 million), lower tax incidence, partially offset by an increase in finance costs and higher depreciation.

Net profit for Q3 FY26 attributable to external sales from our solar module and cell manufacturing operations amounted to INR 1,080 million (US$ 12 million).

The net profit for the first nine months of FY26 was INR 9,608 million (US$ 107 million) compared to net profit of INR 1,454 million (US$ 16 million) for the first nine months of FY25, with the increase primarily driven by higher operating revenues, external sales from our solar module and cell manufacturing operations, gain on sale of assets, and lower tax incidence, partially offset by higher scale linked financing costs and depreciation related to projects commissioned from Q3 FY25.

Net profit for the first nine months of FY26 attributable to external sales from our module and cell manufacturing operations amounted to INR 6,847 million (US$ 76 million), compared to INR 423 million (US$ 5 million) for the first nine months of FY25.

Adjusted EBITDA

Adjusted EBITDA for Q3 FY26 was INR 21,381 million (US$ 238 million), compared to INR 13,882 million (US$ 155 million) in Q3 FY25.

Adjusted EBITDA for Q3 FY26 attributable to external sales from our solar module and cell manufacturing operations amounted to INR 2,151 million (US$ 24 million).

Adjusted EBITDA for the first nine months of FY26 was INR 74,840 million (US$ 833 million) compared to INR 57,070 million (US$ 635 million) for the first nine months of FY25.

Adjusted EBIDTA for the first nine months of FY26 attributable to external sales from our solar module and cell manufacturing operations amounted to INR 10,771 million (US$ 120 million), compared to INR 597 (US$ 7 million) for the first nine months of FY25.

Adjusted EBITDA is a non-IFRS measure. For more information, see “Use of Non-IFRS Measures” elsewhere in this release. IFRS refers to International Financial Reporting Standards as issued by the International Accounting Standards Board. In addition, reconciliations of non-IFRS measures to IFRS financial measures, and operating results are included at the end of this release.

FY 26 Guidance

The Company revises its FY26 guidance and expects to complete the construction of 1.8 to 2.4 GWs by the end of FY26. The Company’s Adjusted EBITDA and Cash Flow to Equity guidance for FY26 are subject to weather and resource availability. The Company continues to anticipate net gains in sales of assets, which is part of ReNew’s capital recycling strategy. The Company now expects external sales from our solar module and cell manufacturing to contribute INR 11-13 billion of Adjusted EBITDA in this guidance.

Financial

Year

 

Adjusted EBITDA

 

Cash Flow to equity (CFe)

FY26

 

INR 90 – INR 93 billion

 

INR 14 – INR 17 billion

Cash Flow

Cash generated from operating activities for Q3 FY26 was INR 22,649 million (US$ 252 million), compared to INR 18,486 million (US$ 206 million) for Q3 FY25. The increase was primarily driven by higher operating profit and lower working capital due to decrease in trade receivables, and increase in trade payables, partially offset by increase in inventories and other non-financial liabilities. Cash generated from operating activities for the first nine months of FY26 was INR 63,339 million (US$ 705 million), compared to INR 48,557 million (US$ 540 million) for the first nine months of FY26. The increase was driven primarily by higher operating profit, lower working capital deployment due to increase in trade payables, and decrease in trade receivables, partially offset by increase in inventories and increase in other non-financial assets.

Cash used in investing activities for Q3 FY26 was INR 19,822 million (US$ 221 million), compared to cash used amounting to INR 21,132 million (US$ 235 million) for Q3 FY25. The decrease in cash used was primarily on account of proceeds from disposal of subsidiaries, redemption of deposits and mutual funds having residual maturity of more than 3 months (net of investments), partially offset by higher investment in property, plant and equipment. Cash used in investing activities for the first nine months of FY26 was INR 79,406 million (US$ 884 million), compared to INR 81,572 million (US$ 908 million) used in the first nine months of FY25. The decrease in cash used was mainly on account of lower investment in property, plant and equipment, proceeds from disposal of subsidiaries, partially offset by higher investment in deposits having residual maturity of more than three months and mutual funds (net of redemption).

Cash generated from financing activities for Q3 FY26 was INR 2,325 million (US$ 26 million), compared to cash generated from financing activities of INR 6,143 million (US$ 68 million) in Q3 FY25. The decrease in cash generated was primarily on account of lower proceeds from interest bearing loans and borrowings (net of repayments) partially offset by lower interest paid. Cash generated from financing activities for the first nine months of FY26 was INR 20,118 million (US$ 224 million), compared to INR 27,476 million (US$ 306 million) generated in the first nine months of FY25. The decrease was primarily due to lower proceeds (net of repayments) from interest bearing loans and higher interest paid, partially offset by higher proceeds from issue of shares and instruments issued by subsidiaries.

Capital Expenditure

In Q3 FY26, we commissioned 50 MWs of solar and 238 MWs of wind projects for which our capex was INR 24,957 million (US$ 278 million).

In the first nine months of FY26, we commissioned 751 MWs of solar and 578 MWs of wind projects for which our capex was INR 78,882 million (US$ 878 million).

Liquidity Position

As of December 31, 2025, we had INR 97,558 million (US$ 1,086 million) of cash and cash equivalents, bank balances and investments in liquid funds. This included an aggregate of cash and cash equivalents of INR 44,495 million (US$ 495 million), bank balances other than cash and cash equivalents of INR 38,762 million (US$ 431 million), deposits with maturities of more than 12 months (forming part of other financial assets) of INR 2,248 (US$ 26 million), and investments in liquid funds amounting to INR 12,053 (US$ 134 million).

Net Debt

Net debt as of December 31, 2025, was INR 659,377 million (US$ 7,339 million). Net debt as of December 31, 2025, also includes investment from the joint venture partners for renewable energy projects in the form of convertible debentures amounting to INR 24,795 (US$ 276 million).

Receivables

Total receivables as of December 31, 2025, were INR 23,119 million (US$ 257 million), of which INR 6,240 million (US$ 69 million) was unbilled and others including receivables against external sales from our solar module and cell manufacturing operations. The Daily Sales Outstanding (“DSO”) from our Independent Power Producer (“IPP”) business was 66 days as on December 31, 2025, as compared to 72 days as of December 31, 2024, an improvement of 6 days year on year.

Receivables from external sales of our solar module and cell manufacturing operations was INR 2,550 (US$ 28 million). The DSO from our manufacturing operations was 23 days as on December 31, 2025.

Cash Flow to Equity (CFe)

CFe for Q3 FY26 was INR 5,240 million (US$ 58 million) compared to INR 765 million (US$ 9 million) for Q3 FY25 due to higher Adjusted EBITDA partially offset by higher interest and tax paid.

CFe for the first nine months of FY26 was INR 25,150 million (US$ 280 million) compared to INR 16,448 million (US$ 183 million) for the first nine months of FY25 due to higher Adjusted EBITDA partially offset by higher loan repayments and higher interest and tax paid.

Webcast and Conference call information

A conference call has been scheduled to discuss the earnings results at 8:30 AM EST (7:00 PM IST) on February 16, 2026. The conference call can be accessed live at: https://edge.media-server.com/mmc/p/m9tykowhor by phone (toll-free) by dialing:

US/Canada: (+1) 855 881 1339

France: (+33) 0800 981 498

Germany: (+49) 0800 182 7617

Hong Kong: (+852) 800 966 806

India: (+91) 0008 0010 08443

Japan: (+81) 005 3116 1281

Singapore: (+65) 800 101 2785

Sweden: (+46) 020 791 959

UK: (+44) 0800 051 8245

Rest of the world: (+61) 7 3145 4010 (toll)

An audio replay will be available following the call on our investor relations website at https://investor.renew.com/news-events/events.

Notes:

This press release contains translations of certain Indian rupee amounts into U.S. dollars at specified rates solely for the convenience of the reader. Unless otherwise stated, the translation of Indian rupees into U.S. dollars has been made at INR 89.84 to US$ 1.00, which was the noon buying rate in New York City for cable transfer in non-U.S. currencies as certified for customs purposes by the Federal Reserve Bank of New York on December 31, 2025. We make no representation that the Indian rupee or U.S. dollar amounts referred to in this press release could have been converted into U.S. dollars or Indian rupees, as the case may be, at any particular rate or at all.

Forward Looking Statements

This release includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “estimate,” “objective,” “plan,” “project,” “forecast,” “intend,” “will,” “expect,” “anticipate,” “believe,” “seek,” “target,” “milestone,” “designed to,” “proposed” or other similar expressions that predict or imply future events, trends, terms and/or conditions or that are not statements of historical matters. Such forward-looking statements are based on current expectations and projections about future events and various assumptions. The Company cautions readers of this release that these forward-looking statements are subject to risks and uncertainties, most of which are difficult to predict and many of which are beyond the Company’s control, that could cause the actual results to differ materially from the expected results.

The Company’s most recent Annual Report on Form 20-F filed with the United States Securities and Exchange Commission (the “SEC”) or Form 6-Ks furnished to the SEC by the Company outline certain of these risks and uncertainties which may cause actual results to differ. Forward-looking statements should be construed in light of such risk factors and undue reliance should not be placed on forward-looking statements. These forward-looking statements speak only as of the date of this release. The Company expressly disclaims any obligation or undertaking (except as required by applicable law) to release publicly any updates or revisions to any forward-looking statement contained herein to reflect any change in the Company’s expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.

About ReNew

Unless the context otherwise requires, all references in this press release to “we,” “us,” or “our” refers to ReNew and its subsidiaries.

ReNew is a leading decarbonization solutions company listed on Nasdaq (Nasdaq: RNW, RNWWW). ReNew’s clean energy portfolio of ~19.2 GW (including 1.5 GW of BESS) on a gross basis as of February 12, 2026, is one of the largest globally. In addition to being a major independent power producer in India, we provide end-to-end solutions in a just and inclusive manner in the areas of clean energy, value-added energy offerings through digitalization, storage, and carbon markets that are increasingly integral to addressing climate change. In addition, ReNew has 6.5 GW of solar module and 2.5 GW of Solar Cell manufacturing capacity and is expanding its solar cells manufacturing by 4 GW. For more information, visit www.renew.com and follow us on LinkedIn,Facebook, X, andInstagram.

RENEW ENERGY GLOBAL PLC

CONSOLIDATED STATEMENT OF FINANCIAL POSITION

(INR and US$ amounts in millions)
 

 

 

As at March 31,

 

As at December 31,

 

 

 

2025

 

2025

 

2025

 

 

 

(Audited)

 

(Unaudited)

 

(Unaudited)

 

 

 

(INR)

 

(INR)

 

(USD)

 

Assets

 

 

 

 

 

 

 

Non-current assets

 

 

 

 

 

 

 

Property, plant and equipment

 

 

747,066

 

 

777,146

 

 

8,650

 

Intangible assets

 

 

36,217

 

 

34,920

 

 

389

 

Right of use assets

 

 

14,506

 

 

15,995

 

 

178

 

Investment in jointly controlled entities

 

 

381

 

 

377

 

 

4

 

Trade receivables

 

 

7,528

 

 

8,167

 

 

91

 

Investments

 

 

1,078

 

 

1,338

 

 

15

 

Other financial assets

 

 

6,497

 

 

5,139

 

 

57

 

Deferred tax assets (net)

 

 

7,073

 

 

8,595

 

 

96

 

Tax assets

 

 

8,770

 

 

8,207

 

 

91

 

Contract assets

 

 

2,724

 

 

3,115

 

 

35

 

Other non-financial assets

 

 

9,578

 

 

11,730

 

 

131

 

Total non-current assets

 

 

841,418

 

 

874,729

 

 

9,737

 

Current assets

 

 

 

 

 

 

 

Inventories

 

 

4,164

 

 

13,422

 

 

149

 

Trade receivables

 

 

16,740

 

 

14,952

 

 

166

 

Investments

 

 

264

 

 

12,053

 

 

134

 

Cash and cash equivalents

 

 

40,419

 

 

44,495

 

 

495

 

Bank balances other than cash and cash equivalents

 

 

40,099

 

 

38,762

 

 

431

 

Other financial assets

 

 

7,148

 

 

21,064

 

 

234

 

Contract assets

 

 

108

 

 

162

 

 

2

 

Other non-financial assets

 

 

5,476

 

 

10,497

 

 

117

 

 

 

 

114,418

 

 

155,407

 

 

1,730

 

Assets held for sale

 

 

3,963

 

 

4,212

 

 

47

 

Total current assets

 

 

118,381

 

 

159,619

 

 

1,777

 

Total assets

 

 

959,799

 

 

1,034,348

 

 

11,514

 

Equity and liabilities

 

 

 

 

 

 

 

Equity

 

 

 

 

 

 

 

Issued capital

 

 

4,808

 

 

4,808

 

 

54

 

Share premium

 

 

154,204

 

 

155,310

 

 

1,729

 

Retained losses

 

 

(53,755

)

 

(46,226

)

 

(515

)

Other components of equity

 

 

7,345

 

 

9,723

 

 

108

 

Equity attributable to equity holders of the parent

 

 

112,602

 

 

123,615

 

 

1,375

 

Non-controlling interests

 

 

18,510

 

 

18,584

 

 

207

 

Total equity

 

 

131,112

 

 

142,199

 

 

1,582

 

Non-current liabilities

 

 

 

 

 

 

 

Interest-bearing loans and borrowings

 

 

 

 

 

 

 

– Principal portion

 

 

582,307

 

 

545,229

 

 

6,069

 

Lease liabilities

 

 

8,282

 

 

9,477

 

 

105

 

Other financial liabilities

 

 

6,576

 

 

17,070

 

 

190

 

Provisions

 

 

9,484

 

 

10,818

 

 

120

 

Deferred tax liabilities (net)

 

 

24,481

 

 

25,961

 

 

289

 

Other non-financial liabilities

 

 

1,122

 

 

1,352

 

 

15

 

Total non-current liabilities

 

 

632,252

 

 

609,907

 

 

6,789

 

Current liabilities

 

 

 

 

 

 

 

Interest-bearing loans and borrowings

 

 

 

 

 

 

 

– Principal portion

 

 

140,711

 

 

211,706

 

 

2,356

 

– Interest accrued

 

 

5,405

 

 

8,825

 

 

98

 

Lease liabilities

 

 

977

 

 

1,037

 

 

12

 

Trade payables

 

 

8,173

 

 

13,788

 

 

153

 

Other financial liabilities

 

 

34,754

 

 

44,383

 

 

494

 

Tax liabilities (net)

 

 

378

 

 

1,253

 

 

14

 

Other non-financial liabilities

 

 

5,996

 

 

1,250

 

 

14

 

 

 

 

196,394

 

 

282,242

 

 

3,141

 

Liabilities directly associated with the assets held for sale

 

 

41

 

 

—

 

 

—

 

Total current liabilities

 

 

196,435

 

 

282,242

 

 

3,141

 

Total liabilities

 

 

828,687

 

 

892,149

 

 

9,930

 

Total equity and liabilities

 

 

959,799

 

 

1,034,348

 

 

11,512

 
RENEW ENERGY GLOBAL PLC

CONSOLIDATED STATEMENT OF PROFIT OR LOSS

(INR and US$ amounts in millions, except share and par value data)
 

 

 

For the three months ended December 31,

 

 

For the nine months ended December 31,

 

 

 

2024

 

2025

 

2025

 

 

2024

 

2025

 

2025

 

 

 

(Unaudited)

 

(Unaudited)

 

(Unaudited)

 

 

(Unaudited)

 

(Unaudited)

 

(Unaudited)

 

 

 

(INR)

 

(INR)

 

(USD)

 

 

(INR)

 

(INR)

 

(USD)

 

Income

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenue

 

 

18,472

 

 

25,140

 

 

280

 

 

 

68,018

 

 

100,404

 

 

1,118

 

Other operating income

 

 

73

 

 

311

 

 

3

 

 

 

530

 

 

659

 

 

7

 

Late payment surcharge from customers

 

 

—

 

 

—

 

 

—

 

 

 

7

 

 

—

 

 

—

 

Finance income

 

 

1,243

 

 

1,141

 

 

13

 

 

 

3,567

 

 

3,440

 

 

38

 

Other income

 

 

1,145

 

 

4,716

 

 

52

 

 

 

3,265

 

 

6,401

 

 

71

 

Change in fair value of warrants

 

 

265

 

 

64

 

 

1

 

 

 

524

 

 

183

 

 

2

 

Total income

 

 

21,198

 

 

31,372

 

 

349

 

 

 

75,911

 

 

111,087

 

 

1,236

 

Expenses

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Raw materials and consumables used

 

 

2,575

 

 

6,197

 

 

69

 

 

 

3,225

 

 

18,832

 

 

210

 

Change in inventories of finished goods

 

 

—

 

 

(3,047

)

 

(34

)

 

 

—

 

 

(3,384

)

 

(38

)

Employee benefits expense

 

 

816

 

 

1,303

 

 

15

 

 

 

3,409

 

 

4,341

 

 

48

 

Depreciation and amortisation

 

 

5,233

 

 

6,456

 

 

71

 

 

 

15,296

 

 

18,787

 

 

209

 

Other expenses

 

 

2,612

 

 

4,976

 

 

55

 

 

 

9,119

 

 

13,923

 

 

155

 

Finance costs and fair value change in derivative instruments

 

 

12,877

 

 

15,992

 

 

178

 

 

 

37,689

 

 

45,771

 

 

509

 

Total expenses

 

 

24,113

 

 

31,877

 

 

354

 

 

 

68,738

 

 

98,270

 

 

1,093

 

Profit / (loss) before share of loss of jointly controlled entities and tax

 

 

(2,915

)

 

(505

)

 

(5

)

 

 

7,173

 

 

12,817

 

 

143

 

Share of loss of jointly controlled entities

 

 

(31

)

 

—

 

 

(0

)

 

 

(154

)

 

(4

)

 

(0

)

Profit / (loss) before tax

 

 

(2,946

)

 

(505

)

 

(5

)

 

 

7,019

 

 

12,813

 

 

143

 

Income tax expense

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current tax

 

 

(137

)

 

1,311

 

 

15

 

 

 

1,220

 

 

2,856

 

 

32

 

Deferred tax

 

 

1,070

 

 

(1,618

)

 

(18

)

 

 

4,345

 

 

349

 

 

5

 

Profit / (loss) for the period

 

 

(3,879

)

 

(198

)

 

(2

)

 

 

1,454

 

 

9,608

 

 

107

 

Weighted average number of equity shares in calculating basic earnings per share

 

 

362,679,847

 

 

364,224,048

 

 

364,224,048

 

 

 

362,653,572

 

 

363,446,452

 

 

363,446,452

 

Weighted average number of equity shares in calculating diluted earnings per share

 

 

365,332,726

 

 

370,634,617

 

 

370,634,617

 

 

 

366,417,975

 

 

372,913,643

 

 

372,913,643

 

Earnings per share

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic earnings attributable to ordinary equity holders of the Parent

 

 

(9.47

)

 

0.16

 

 

0.00

 

 

 

2.71

 

 

26.00

 

 

0.29

 

Diluted earnings attributable to ordinary equity holders of the Parent

 

 

(9.40

)

 

0.16

 

 

0.00

 

 

 

2.69

 

 

25.34

 

 

0.28

 

RENEW ENERGY GLOBAL PLC

CONSOLIDATED STATEMENTS OF CASH FLOWS

(INR and US$ amounts in millions)
 

 

 

For the three months ended December 31,

 

 

For the nine months ended December 31,

 

 

 

2024

 

2025

 

2025

 

 

2024

 

2025

 

2025

 

 

 

(Unaudited)

 

(Unaudited)

 

(Unaudited)

 

 

(Unaudited)

 

(Unaudited)

 

(Unaudited)

 

 

 

(INR)

 

(INR)

 

(USD)

 

 

(INR)

 

(INR)

 

(USD)

 

Cash flows from operating activities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Profit / (loss) before tax

 

 

(2,946

)

 

(505

)

 

(6

)

 

 

7,019

 

 

12,813

 

 

143

 

Adjustments to reconcile profit before tax to net cash flows:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Finance costs

 

 

12,609

 

 

16,040

 

 

179

 

 

 

37,103

 

 

45,316

 

 

504

 

Depreciation and amortisation

 

 

5,233

 

 

6,456

 

 

72

 

 

 

15,296

 

 

18,787

 

 

209

 

Change in fair value of warrants

 

 

(265

)

 

(64

)

 

(1

)

 

 

(524

)

 

(183

)

 

(2

)

Share based payments

 

 

195

 

 

296

 

 

3

 

 

 

1,003

 

 

741

 

 

8

 

Interest income

 

 

(1,205

)

 

(936

)

 

(10

)

 

 

(3,512

)

 

(3,198

)

 

(36

)

Others

 

 

(657

)

 

(3,825

)

 

(43

)

 

 

(1,071

)

 

(2,995

)

 

(33

)

Working capital adjustments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(Increase) / decrease in trade receivables

 

 

4,261

 

 

6,794

 

 

76

 

 

 

(1,356

)

 

862

 

 

10

 

(Increase) / decrease in inventories

 

 

(749

)

 

(7,024

)

 

(78

)

 

 

(828

)

 

(9,308

)

 

(104

)

(Increase) / decrease in other financial assets

 

 

474

 

 

(220

)

 

(2

)

 

 

(210

)

 

(1,963

)

 

(22

)

(Increase) / decrease in other non-financial assets

 

 

(52

)

 

(2,788

)

 

(31

)

 

 

(2,017

)

 

(5,337

)

 

(59

)

(Increase) / decrease in contract assets

 

 

(134

)

 

(108

)

 

(1

)

 

 

(421

)

 

(336

)

 

(4

)

Increase / (decrease) in other financial liabilities

 

 

2

 

 

(3

)

 

(0

)

 

 

—

 

 

—

 

 

—

 

Decrease / (increase) in other non-financial liabilities

 

 

696

 

 

(607

)

 

(7

)

 

 

(1,409

)

 

(4,668

)

 

(52

)

Decrease / (increase) in in trade payables

 

 

1,516

 

 

10,714

 

 

119

 

 

 

(979

)

 

14,333

 

 

160

 

Cash generated from operations

 

 

18,978

 

 

24,220

 

 

269

 

 

 

48,094

 

 

64,864

 

 

722

 

Income tax refund / (paid) (net)

 

 

(492

)

 

(1,571

)

 

(17

)

 

 

463

 

 

(1,525

)

 

(17

)

Net cash generated from operating activities (a)

 

 

18,486

 

 

22,649

 

 

252

 

 

 

48,557

 

 

63,339

 

 

705

 

Cash flows from investing activities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Purchase of property, plant and equipment, intangible assets and right of use assets

 

 

(18,886

)

 

(29,667

)

 

(330

)

 

 

(75,800

)

 

(74,190

)

 

(826

)

Sale of property, plant and equipment

 

 

(4

)

 

4

 

 

—

 

 

 

—

 

 

9

 

 

0

 

Investment in deposits having residual maturity more than 3 months and mutual funds

 

 

(92,834

)

 

(136,360

)

 

(1,518

)

 

 

(269,734

)

 

(379,197

)

 

(4,221

)

Redemption of deposits having residual maturity more than 3 months and mutual funds

 

 

89,768

 

 

138,312

 

 

1,540

 

 

 

262,226

 

 

366,793

 

 

4,083

 

Deferred consideration received

 

 

—

 

 

—

 

 

—

 

 

 

643

 

 

—

 

 

—

 

Disposal of subsidiaries, net of cash disposed

 

 

—

 

 

7,055

 

 

79

 

 

 

4

 

 

5,648

 

 

63

 

Interest received

 

 

842

 

 

861

 

 

10

 

 

 

2,558

 

 

2,179

 

 

24

 

Investment in energy funds

 

 

(55

)

 

—

 

 

—

 

 

 

(132

)

 

(73

)

 

(1

)

Investment in optionally convertible debentures

 

 

—

 

 

—

 

 

—

 

 

 

—

 

 

(158

)

 

(2

)

Loans given

 

 

(24

)

 

(27

)

 

(0

)

 

 

(148

)

 

(417

)

 

(5

)

Investment in jointly controlled entities

 

 

61

 

 

—

 

 

—

 

 

 

(1,189

)

 

—

 

 

—

 

Net cash used in investing activities (b)

 

 

(21,132

)

 

(19,822

)

 

(221

)

 

 

(81,572

)

 

(79,406

)

 

(884

)

Cash flows from financing activities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Shares issued during the period

 

 

5

 

 

112

 

 

1

 

 

 

9

 

 

516

 

 

6

 

Payment of lease liabilities (including payment of interest expense)

 

 

(166

)

 

(314

)

 

(3

)

 

 

(510

)

 

(603

)

 

(7

)

Proceeds from shares issued by subsidiaries

 

 

977

 

 

—

 

 

—

 

 

 

1,116

 

 

9,724

 

 

108

 

Dividend paid to non-controlling interest

 

 

—

 

 

—

 

 

—

 

 

 

—

 

 

(613

)

 

(7

)

Proceeds from interest-bearing loans and borrowings

 

 

87,480

 

 

94,262

 

 

1,049

 

 

 

287,240

 

 

289,770

 

 

3,225

 

Repayment of interest-bearing loans and borrowings

 

 

(69,088

)

 

(78,806

)

 

(877

)

 

 

(220,503

)

 

(236,483

)

 

(2,632

)

Interest paid (including settlement gain / loss on derivative instruments)

 

 

(13,065

)

 

(12,929

)

 

(144

)

 

 

(39,876

)

 

(42,193

)

 

(470

)

Net cash generated from financing activities (c)

 

 

6,143

 

 

2,325

 

 

26

 

 

 

27,476

 

 

20,118

 

 

224

 

Net increase/ (decrease) in cash and cash equivalents (a) + (b) + (c)

 

 

3,497

 

 

5,152

 

 

57

 

 

 

(5,539

)

 

4,051

 

 

45

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash and cash equivalents at the beginning of the period

 

 

17,985

 

 

39,337

 

 

438

 

 

 

27,021

 

 

40,419

 

 

450

 

Effects of exchange rate changes on cash and cash equivalents

 

 

0

 

 

6

 

 

0

 

 

 

0

 

 

25

 

 

0

 

Cash and cash equivalents at the end of the period

 

 

21,482

 

 

44,495

 

 

495

 

 

 

21,482

 

 

44,495

 

 

495

 

Components of cash and cash equivalents

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash and cheque on hand

 

 

1

 

 

2

 

 

0

 

 

 

1

 

 

2

 

 

0

 

Balances with banks:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

– On current accounts (net of bank overdrafts)

 

 

12,516

 

 

24,470

 

 

273

 

 

 

12,516

 

 

24,470

 

 

273

 

– Deposits with original maturity of less than 3 months

 

 

8,965

 

 

20,023

 

 

222

 

 

 

8,965

 

 

20,023

 

 

222

 

Total cash and cash equivalents

 

 

21,482

 

 

44,495

 

 

495

 

 

 

21,482

 

 

44,495

 

 

495

 

RENEW ENERGY GLOBAL PLC

Unaudited Non-IFRS metrices

(INR and US$ amounts in millions)
 

Reconciliation of Net profit to Adjusted EBITDA for the periods indicated:
 

 

 

For the three months ended December 31,

 

 

For the nine months ended December 31,

 

 

 

2024

 

2025

 

2025

 

 

2024

 

2025

 

2025

 

 

 

(Unaudited)

 

(Unaudited)

 

(Unaudited)

 

 

(Unaudited)

 

(Unaudited)

 

(Unaudited)

 

 

 

(INR)

 

(INR)

 

(USD)

 

 

(INR)

 

(INR)

 

(USD)

 

Profit for the period

 

 

(3,879

)

 

(198

)

 

(2

)

 

 

1,454

 

 

9,608

 

 

107

 

Less: Finance income

 

 

(1,243

)

 

(1,141

)

 

(13

)

 

 

(3,567

)

 

(3,440

)

 

(38

)

Add: Share in loss of jointly controlled entities

 

 

31

 

 

–

 

 

0

 

 

 

154

 

 

4

 

 

0

 

Add: Depreciation and amortisation

 

 

5,233

 

 

6,456

 

 

71

 

 

 

15,296

 

 

18,787

 

 

209

 

Add: Finance costs and fair value change in derivative instruments

 

 

12,877

 

 

15,992

 

 

178

 

 

 

37,689

 

 

45,771

 

 

509

 

Less: Change in fair value of warrants

 

 

(265

)

 

(64

)

 

(1

)

 

 

(524

)

 

(183

)

 

(2

)

Add: Income tax expense

 

 

933

 

 

(307

)

 

(3

)

 

 

5,565

 

 

3,205

 

 

37

 

Add: Share based payment expense and others related to listing

 

 

195

 

 

643

 

 

7

 

 

 

1,003

 

 

1,088

 

 

12

 

Adjusted EBITDA

 

 

13,882

 

 

21,381

 

 

238

 

 

 

57,070

 

 

74,840

 

 

833

 

Reconciliation of Cash flow to equity (CFe) to Adjusted EBITDA:
 

 

 

For the three months ended December 31,

 

 

For the nine months ended December 31,

 

 

 

2024

 

2025

 

2025

 

 

2024

 

2025

 

2025

 

 

 

(Unaudited)

 

(Unaudited)

 

(Unaudited)

 

 

(Unaudited)

 

(Unaudited)

 

(Unaudited)

 

 

 

 

 

 

 

 

 

 

(INR)

 

(INR)

 

(USD)

 

Adjusted EBITDA

 

 

13,882

 

 

21,381

 

 

238

 

 

 

57,070

 

 

74,840

 

 

833

 

Add: Finance income

 

 

1,243

 

 

1,141

 

 

13

 

 

 

3,567

 

 

3,440

 

 

38

 

Less: Interest paid in cash

 

 

(9,085

)

 

(10,686

)

 

(119

)

 

 

(29,396

)

 

(35,473

)

 

(395

)

Add: Tax refund/ (paid)

 

 

(492

)

 

(1,571

)

 

(17

)

 

 

463

 

 

(1,525

)

 

(17

)

Less: Normalised loan repayment

 

 

(5,116

)

 

(5,861

)

 

(65

)

 

 

(15,080

)

 

(17,556

)

 

(195

)

Add/ less: Other non-cash items

 

 

333

 

 

836

 

 

9

 

 

 

(176

)

 

1,424

 

 

16

 

Total CFe

 

 

765

 

 

5,240

 

 

58

 

 

 

16,448

 

 

25,150

 

 

280

 

 

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Italy Sees Economic Boost From the Opening Weekend of the Olympic Winter Games Milano Cortina 2026

Italy Sees Economic Boost From the Opening Weekend of the Olympic Winter Games Milano Cortina 2026

  • Northern Italy sees more than 60% increase in Visa cardholder visitors from overseas, with an increase in purchases up 80% compared to the same period in 2025

  • Significant increase in spending from Visa cardholders in many areas of commerce including Clothing & Accessories, Restaurants and Mobility & Transport

  • Biggest share of spend comes from U.S. Visa cardholders, with most significant increases in year-on-year spending from Canada and Switzerland

MILANO, Italy–(BUSINESS WIRE)–
Visa, the Official Payment Technology Partner of the Olympic and Paralympic Winter Games, today released new data revealing consumer spending patterns in the Winter Games host locations1 during the opening weekend of the Olympic Winter Games Milano Cortina 2026.

VisaNet data analysed by Visa Consulting & Analytics (VCA) shows the positive impact that Milano Cortina 2026 is having on commerce:

  • Overseas Visa cardholders visits rose by more than 60%, with the largest share of visitors coming from the U.S. (+160% year-on-year), followed by China, Brazil, Canada and Japan.

  • In Europe, Visa cardholders from Germany represent the largest share of visitors (31% year-on-year increase), followed by Switzerland, France and the UK.

  • International Visa cardholders spent more than in the previous year, with the U.S. leading the year-on-year growth with a 125% increase in their spending, followed by Canada and Switzerland.

  • Visitors from Germany, China and the U.S. ranked as the top spenders, with an average spend of €297, €267 and €255, respectively.

  • Purchases are also up significantly in Milano from international Visa cardholders (45%) and Italian Visa cardholders (+30%).

  • In mountain locations, purchase growth is being driven primarily by overseas Visa cardholders, up to 95% year on year.

  • Contactless transactions across both domestic and international Visa cardholders, increased by almost 40% year‑on‑year.

  • The top three merchant categories recorded the highest increase in purchases by international Visa cardholders during the Opening Ceremony weekend are: Clothing & Accessories (+35%), Restaurants, Mobility & Transport.

Antony Cahill, Chief Executive Officer, Visa Europe says: “Over the Milano Cortina 2026 Winter Olympics Opening Ceremony weekend, Italian businesses experienced a year-on-year rise in visitors and purchases, according to VisaNet data – demonstrating the positive economic impact that major global events can deliver for local communities. U.S. travellers led overseas spend, with fans from China, Brazil, Canada and Japan showing the biggest increase in travel to the Games.”

Visa’s responsibility to provide payment systems for the Olympic and Paralympic Games requires a robust and venue-specific plan combined with large-scale operations. Working hand-in-hand with the Organising Committee, Visa has built a custom payment network across Milano, Cortina and beyond, which will ensure Visa payments are accepted at approximately 800 points of sale across 13 competition venues and several other official Milano Cortina 2026 locations.

About Visa Inc.

Visa (NYSE: V) is a world leader in digital payments, facilitating transactions between consumers, sellers, financial institutions and government entities across more than 200 countries and territories. Our mission is to connect the world through the most innovative, convenient, reliable and secure payments network, enabling individuals, businesses and economies to thrive. We believe that economies that include everyone everywhere, uplift everyone everywhere and see access as foundational to the future of money movement. Learn more at Visa.com.

Notes to editors:

  • Figures compare the weekends 6,7,8 February 2026 vs 7,8,9 February 2025
  • Overseas visitors refers to Visa cardholders from outside Europe
  • International visitors refers to Visa cardholders from both Europe and outside Europe
  • Visa cardholders refers to Visa cardholders includes domestic and international visitors (Europe and outside Europe)

  • Northern Italy refers to Milan and mountain locations hosting competitions, including Belluno, Trento, Bolzano, and Sondrio
  • Mountain locations refer specifically to Belluno, Trento, Bolzano, and Sondrio (excluding Milano)

1 Milano, Belluno, Trento, Bolzano, and Sondrio

Ana Torres

[email protected]

KEYWORDS: Italy Europe

INDUSTRY KEYWORDS: Professional Services Payments Sports Olympics Technology Finance Banking

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Klarna Launches on Google Pay in the UK

Klarna Launches on Google Pay in the UK

LONDON–(BUSINESS WIRE)–
Klarna, the global digital bank and flexible payments provider, is now available on Google Pay in the UK. Google Pay users in the U.K. can choose Klarna’s interest-free payment options at checkout.

Raji Behal, Head of Western and Southern Europe, UK & Ireland at Klarna, said, “We’re really excited to bring Klarna’s fair, flexible and interest-free payment options to Google Pay users. This is a big moment for us and a major step towards our goal of being available at every checkout, everywhere. Together with Google, we’re making it easier than ever for millions of shoppers to choose Klarna and pay in a smarter, more transparent way — all from their phone.”

Lisa Yokoyama, Director of Product Management at Google Paysaid: “Expanding our collaboration with Klarna to the U.K. underscores our goal to empower more people with the flexibility to pay how they choose. With people shopping on Google over a billion times a day, this broader footprint provides even more checkout options to help businesses drive tangible growth.”

Klarna on Google Pay will offer Google Pay’s UK consumers the flexibility of Klarna pay in 3 interest-free installment payment method. Users will be able to manage their purchases seamlessly in the Klarna app, tracking deliveries, handling returns, and managing repayments, all in one place. The integration will make flexible payment options even more accessible for Google Pay users, who can soon shop and pay with Klarna directly from their devices.

With more than 114 million active consumers worldwide, Klarna is continuing to expand its commerce network and mission to be available at every checkout, offering shoppers a fairer alternative to traditional credit cards for everything.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of applicable securities laws. These statements include, but are not limited to, statements regarding our future financial performance, business strategy, growth objectives, market opportunities, operational plans, including the implementation of Klarna in certain digital wallets, the timing of their availability to our consumers and their anticipated features and benefits. Words such as “believe,” “expect,” “anticipate,” “intend,” “plan,” “will,” “may,” “could,” “estimate,” and similar expressions identify forward-looking statements.

These forward-looking statements are subject to risks, uncertainties, and assumptions that could cause actual results to differ materially from those expressed or implied, including risks related to:

  • Our ability to retain and grow consumer and merchant relationships;

  • Competition and technological developments;

  • Regulatory compliance and licensing requirements;

  • Our ability to achieve expected benefits from our funding arrangements;

  • Credit risk management and funding availability;

  • General economic conditions and market volatility; and

  • Our ability to expand into new markets and products.

Forward-looking statements reflect our views as of the date of this release and are based on information currently available to us. We undertake no obligation to update any forward-looking statements, except as required by law. Actual results may differ materially from those anticipated. Investors should not place undue reliance on these forward-looking statements and should review the risk factors in our filings with the SEC for a more complete discussion of risks.

[email protected]

KEYWORDS: United Kingdom Europe

INDUSTRY KEYWORDS: Payments Online Retail Retail Apps/Applications Technology Other Technology Software

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AMD and TCS to bring state-of-the-art ‘Helios’ rack-scale AI architecture to India

News Highlights:

  • Enterprises across India will gain access to a new 200MW deployment of the AMD “Helios” rack-scale AI architecture, supporting India’s AI initiatives and sovereign AI factories.  
  • AMD and TCS will help enterprise customers accelerate AI at scale with an AI training and inference platform designed to improve operational efficiency, time-to-deployment, and real-world enterprise impact across industries.

SANTA CLARA, Calif. and MUMBAI, India, Feb. 16, 2026 (GLOBE NEWSWIRE) — AMD (NASDAQ: AMD), a leader in high-performance and AI computing, and Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS), a global leader in IT services, consulting, and business solutions, have expanded their strategic collaboration. TCS, through its subsidiary HyperVault AI Data Center Limited (HyperVault), and AMD will codevelop a rack-scale AI infrastructure design based on the AMD “Helios” platform in support of India’s national AI initiatives.

Powered by AMD Instinct™ MI455X GPUs, next-generation AMD EPYC™ “Venice” CPUs, AMD Pensando™ Vulcano NICs and the open ROCm™ software ecosystem, “Helios” is purpose-built to deliver a rack-scale AI platform supporting sovereign AI factories. “Helios,” combined with TCS’ enterprise expertise and scale, will accelerate deployment and enhance operational efficiencies for enterprises. As part of this strategic collaboration, both companies will offer an AI-ready data center blueprint supporting up to 200 MW of capacity and will work with hyperscalers and AI companies to accelerate data center build-outs in India.

Dr. Lisa Su, Chair and CEO, AMD, said, “AI adoption is accelerating from pilots to large-scale deployments, and that shift requires a new blueprint for compute infrastructure. With ‘Helios,’ we are delivering an open, rack-scale AI platform designed for performance, efficiency, and long-term flexibility. Together with TCS, we are enabling enterprises across India to deploy AI at scale today while building the compute foundation of tomorrow.”

K. Krithivasan, MD and CEO, TCS, said, “This collaboration lays the foundation for AMD’s first ‘Helios’ powered AI infrastructure in India. By combining our strengths in AI, connectivity, sustainable power, and advanced data center engineering, we are poised to deliver state-of-the-art infrastructure solutions for AI companies and global enterprises. We are thrilled to deepen our longstanding partnership with AMD as we expand our participation in the AI ecosystem – Infrastructure to Intelligence.”

TCS established HyperVault in 2025 with the vision of delivering GW-scale, secure, and reliable AI-ready infrastructure for hyperscalers, AI companies, and global enterprises. This announcement builds on the recent strategic collaboration between TCS and AMD to help enterprises scale AI adoption and modernize hybrid environments.

About AMD

AMD (NASDAQ: AMD) drives innovation in high-performance and AI computing to solve the world’s most important challenges. Today, AMD technology powers billions of experiences across cloud and AI infrastructure, embedded systems, AI PCs and gaming. With a broad portfolio of AI-optimized CPUs, GPUs, networking and software, AMD delivers full-stack AI solutions that provide the performance and scalability needed for a new era of intelligent computing. Learn more at www.amd.com.

Tata
Consultancy
Services
Ltd
(TCS)

Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS) is a digital transformation and technology partner of choice for industry-leading organizations worldwide. Since its inception in 1968, TCS has upheld the highest standards of innovation, engineering excellence and customer service.

Rooted in the heritage of the Tata Group, TCS is focused on creating long term value for its clients, its investors, its employees, and the community at large. With a highly skilled workforce of over 580,000 spread across 55 countries and 202 service delivery centers across the world, the company has been recognized as a top employer in six continents. With the ability to rapidly apply and scale new technologies, the company has built long term partnerships with its clients – helping them emerge as perpetually adaptive enterprises. Many of these relationships have endured into decades and navigated every technology cycle, from mainframes in the 1970s to Artificial Intelligence today.

TCS sponsors 14 of the world’s most prestigious marathons and endurance events, including the TCS New York City Marathon, TCS London Marathon and TCS Sydney Marathon with a focus on promoting health, sustainability, and community empowerment.

TCS generated consolidated revenues of over US $30 billion in the fiscal year ended March 31, 2025. For more information, visit www.tcs.com

Follow TCS on LinkedIn| Instagram | YouTube| X



Contact: 
Aaron Grabein
AMD Communications
+1 512-602-8950
[email protected]

Liz Stine
AMD Investor Relations
+1 720-652-3965
[email protected]

TCS Media Contacts:

Corporate Communication & India

Email: [email protected]
Email: [email protected]| Phone: +91 22 6778 9999

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Great Lakes Dredge Investor Alert: Kahn Swick & Foti, LLC Investigates Adequacy of Price and Process in Proposed Sale of Great Lakes Dredge & Dock Corporation – GLDD

Great Lakes Dredge Investor Alert: Kahn Swick & Foti, LLC Investigates Adequacy of Price and Process in Proposed Sale of Great Lakes Dredge & Dock Corporation – GLDD

NEW YORK & NEW ORLEANS–(BUSINESS WIRE)–
Former Attorney General of Louisiana Charles C. Foti, Jr., Esq. and the law firm of Kahn Swick & Foti, LLC (“KSF”) are investigating the proposed sale of Great Lakes Dredge & Dock Corporation (NasdaqGS: GLDD) to Saltchuk Resources, Inc. Under the terms of the proposed transaction, shareholders of Great Lakes will receive $17.00 in cash for each share of Great Lakes that they own. KSF is seeking to determine whether this consideration and the process that led to it are adequate, or whether the consideration undervalues the Company.

If you believe that this transaction undervalues the Company and/or if you would like to discuss your legal rights regarding the proposed sale, you may, without obligation or cost to you, e-mail or call KSF Managing Partner Lewis S. Kahn ([email protected]) toll free at any time at 855-768-1857, or visit https://www.ksfcounsel.com/cases/nasdaqgs-gldd/ to learn more.

Please note that the transaction is structured as a tender offer, such that time may be of the essence.

To learn more about KSF, whose partners include the Former Louisiana Attorney General, visit www.ksfcounsel.com.

CONNECT WITH US: Facebook || Instagram || YouTube || TikTok || LinkedIn

Kahn Swick & Foti, LLC

Lewis S. Kahn, Managing Partner

[email protected]

855-768-1857

1100 Poydras St., Suite 960

New Orleans, LA 70163

KEYWORDS: Louisiana New York United States North America

INDUSTRY KEYWORDS: Class Action Lawsuit Professional Services Legal

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Synopsys Investigation Initiated: Kahn Swick & Foti, LLC Investigates the Officers and Directors of Synopsys, Inc. – SNPS

Synopsys Investigation Initiated: Kahn Swick & Foti, LLC Investigates the Officers and Directors of Synopsys, Inc. – SNPS

NEW YORK & NEW ORLEANS–(BUSINESS WIRE)–
Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC (“KSF”), announces that KSF has commenced an investigation into Synopsys, Inc. (“Synopsys” or the “Company”) (NasdaqGS: SNPS).

In February 2025, Cangrade, Inc., a hiring assessment platform provider, filed a lawsuit against Synopsys, Inc. in federal court in the Northern District of California, alleging misappropriation of trade secrets under the federal Defend Trade Secret Act and California Uniform Trade Secrets Act, breach of contract, professional negligence, and other charges relating to a software audit of Cangrade’s proprietary and confidential software code to be performed by the Company as part of a potential merger. Recently, the court presiding over the case denied the Company’s motion to dismiss in part, allowing the case to move forward.

KSF’s investigation is focusing on whether Synopsys’ officers and/or directors breached their fiduciary duties to its shareholders or otherwise violated state or federal laws.

If you have information that would assist KSF in its investigation, or have been a long-term holder of Synopsys shares and would like to discuss your legal rights, you may, without obligation or cost to you, call toll-free at 1-833-938-0905 or email KSF Managing Partner Lewis Kahn ([email protected]), or visit https://www.ksfcounsel.com/cases/nasdaqgs-snps/ to learn more.

About Kahn Swick & Foti, LLC

KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation’s premier boutique securities litigation law firms. This past year, KSF was ranked by SCAS among the top 10 firms nationally based upon total settlement value. KSF serves a variety of clients, including public and private institutional investors, and retail investors – in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, Delaware, California, Louisiana, Chicago, and a representative office in Luxembourg.

TOP 10 Plaintiff Law Firms – According to ISS Securities Class Action Services

To learn more about KSF, you may visit www.ksfcounsel.com.

CONNECT WITH US: Facebook || Instagram || YouTube || TikTok || LinkedIn

Kahn Swick & Foti, LLC

Lewis Kahn, Managing Partner

[email protected]

1-877-515-1850

1100 Poydras St., Suite 960

New Orleans, LA 70163

KEYWORDS: United States North America California New York Louisiana

INDUSTRY KEYWORDS: Class Action Lawsuit Professional Services Legal

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Tri Pointe Homes Investor Alert: Kahn Swick & Foti, LLC Investigates Adequacy of Price and Process in Proposed Sale of Tri Pointe Homes, Inc. – TPH

Tri Pointe Homes Investor Alert: Kahn Swick & Foti, LLC Investigates Adequacy of Price and Process in Proposed Sale of Tri Pointe Homes, Inc. – TPH

NEW YORK & NEW ORLEANS–(BUSINESS WIRE)–
Former Attorney General of Louisiana Charles C. Foti, Jr., Esq. and the law firm of Kahn Swick & Foti, LLC (“KSF”) are investigating the proposed sale of Tri Pointe Homes, Inc. (NYSE: TPH) to Sumitomo Forestry Co., Ltd. Under the terms of the proposed transaction, shareholders of Tri Pointe will receive $47.00 in cash for each share of Tri Pointe that they own. KSF is seeking to determine whether this consideration and the process that led to it are adequate, or whether the consideration undervalues the Company.

If you believe that this transaction undervalues the Company and/or if you would like to discuss your legal rights regarding the proposed sale, you may, without obligation or cost to you, e-mail or call KSF Managing Partner Lewis S. Kahn ([email protected]) toll free at any time at 855-768-1857, or visit https://www.ksfcounsel.com/cases/nyse-tph/ to learn more.

To learn more about KSF, whose partners include the Former Louisiana Attorney General, visit www.ksfcounsel.com.

CONNECT WITH US: Facebook || Instagram || YouTube || TikTok || LinkedIn

Lewis S. Kahn, Managing Partner

855-768-1857

[email protected]

Kahn Swick & Foti, LLC

1100 Poydras St., Suite 960

New Orleans, LA 70163

KEYWORDS: United States North America Louisiana New York

INDUSTRY KEYWORDS: Class Action Lawsuit Professional Services Legal

MEDIA:

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Leishen Energy Holding Co., Ltd. Announced Fiscal Year 2025 Financial Results Highlighting Strong Operating Cash Flow and Low Financial Leverage

BEIJING, Feb. 15, 2026 (GLOBE NEWSWIRE) — Leishen Energy Holding Co., Ltd. (“Leishen Energy,” the “Company”) (Nasdaq: LSE) announced its fiscal year 2025 financial results on January 30, 2026, reflecting a transition period: core operating performance weakened, but the Company strengthened its financial foundation through the IPO, reduced leverage, and improved liquidity. The Company’s cash position and low debt levels provide flexibility to address operational challenges, while continued improvements in asset quality help mitigate financial risks.

Fiscal Year 2025 Financial Highlights

Total revenues declined from USD $63.5 million to USD $48.3 million due to the economic downturn, particularly the overall sluggishness in the oil and gas market, coupled with customers’ cost pressures, weaker market demand, and the impact of the China-US trade tensions. The Company continues to expand into overseas markets and domestic natural gas trading businesses as part of its long-term growth strategy.

Gross profit fell from USD $16.0 million to USD $8.5 million due to revenue declines and persistent cost pressures.

Operating Expenses increased from USD $8.5 million to USD $10.2 million, largely due to higher selling and marketing costs associated with international market expansion, as well as increased research and development.

Net Income remains positive due to strong non-operating gains, including short-term investment income and gains from disposal of equity investments.

Net Income Attributable to Leishen Energy was USD $1.25 million, reflecting a decrease of USD $6.84 million year-over-year.

Segment Performance

  1. Clean-Energy Equipment

    • Revenue from clean-energy equipment sales accounted for 45.7% of our revenues. Revenue from clean-energy equipment sales decreased by $11,742,904 from $33,816,111. The decrease was mainly due to a decline in market demand, driven by the broader economic downturn. In addition, intensified domestic competition and customer cost-control measures led to a 10% to 40% reduction in selling prices for certain standardized products. The Company is actively pursuing the international market currently to drive future growth.
  2. Digitalization and Integration Equipment

    • Revenue was USD $2.73 million, reflecting a modest year-over-year decline. Gross margin improved to 4.4% due to the implementation of effective cost control initiatives.
  3. New Energy Sales

    • Revenue from New Energy sales accounted for 40.4% our revenues. The decrease was mainly due to the expiration of sales agreement with a major client. We are actively pursuing renewal of the agreement and expanding our customer base in the natural gas trading business.
  4. Oil and Gas Engineering Technical Services

    • Revenue was USD $4.0 million, representing for 8.2% of our revenue.
    • This business segment is a key focus for the company, and the Company will continue to invest in this area to expand the scope and depth of the engineering and technical services. The Company expects that this segment will account for an increasing share of total revenue in the future.

Management Commentary

Hongliang Li, Chief Executive Officer of Leishen Energy, stressed that, “Although our revenue and profitability declined during fiscal year 2025 due to macroeconomic challenges, including the global economic slowdown and China-U.S. trade tensions, we remain confident in our long-term competitiveness and strategic positioning. The fiscal year represented a period of transition rather than a reflection of our core capabilities. We are actively expanding our market presence and strengthening our operational resilience, and we believe our efforts will deliver improved performance in the coming year.”

Zhiping Yu, CFO, commented: “We are actively pursuing growth in both domestic and international markets. Looking ahead, we plan to invest more in R&D and international collaboration to strengthen our fundamentals. Although short-term shareholder returns may be affected by current market conditions, we are focused on our long-term capital strategy. By prioritizing key growth areas, we are confident in our ability to enhance future financial performance.”

Business Outlook

The Company plans to advance the following strategic priorities in fiscal year 2026 and beyond:

    • International Expansion: Pursue overseas opportunities across Central Asia, Southeast Asia, and the Middle East, including the development of joint spare parts warehouses with major oilfields and the delivery of power plant operation and maintenance projects in Middle East.
    • Technology and Innovation: Increase investment in R&D to further strengthen the Company’s patent portfolio, which currently includes 125 patents spanning clean-energy equipment, oil and gas engineering services, and new energy production and operations.
    • Customer Diversification: Deepen engagement with long-standing domestic clients while building a stronger international pipeline, with a focus on digital solutions and integrated equipment sales.
    • Operational Efficiency: Enhance cost control measures, reinforce supply chain management, and establish new supplier partnerships to better mitigate inflationary pressures and operational disruptions.
    • Strengthening Partnerships with World-Leading Technology Brands: The Company will foster deeper collaboration with internationally renowned brands by integrating their advanced technologies and securing market support for spare parts and services. This strategy is designed to uphold superior product quality and sustain the competitiveness of our core products.

About Leishen Energy Holding Co., Ltd.

Leishen Energy is a provider of clean-energy equipment, digitalization and integration solutions, new energy sales, and oil and gas engineering technical services. The Company is committed to driving innovation and sustainable growth across the energy sector.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements involve risks and uncertainties that could cause actual results to differ materially. Leishen Energy undertakes no obligation to update any forward-looking statements except as required by law.

For more information, please contact:

Investor Relations Department

Email: [email protected]



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AlloyX and Bahrain FinTech Bay Announce Strategic Partnership to Accelerate Stablecoin Innovation

MANAMA, Bahrain, Feb. 15, 2026 (GLOBE NEWSWIRE) — AlloyX Limited (the “Company” or “AlloyX”) today announced a strategic partnership with Bahrain FinTech Bay to drive innovation and accelerate the adoption of regulated stablecoin applications, further strengthening Bahrain’s position as a regional hub for digital finance.

Xavier George, Managing Director of AlloyX (left) and Bader Sater, Chief Executive Officer of Bahrain Fintech Bay (right)

Under the collaboration, AlloyX will work with Bahrain FinTech Bay’s innovation ecosystem to explore and collaborate on next generation stablecoin application scenarios, along with leading global and regional payments and technology partners. The partnership coincides with AlloyX’s ongoing plans toward gaining regulatory approval and subsequent market launch of Stablecoin.

Dr. Thomas Zhu, Co-Founder and CEO of AlloyX, said: “This partnership with Bahrain FinTech Bay aligns closely with our vision for the future of digital finance. We are committed to building compliant and scalable stablecoin solutions in Bahrain, driving tangible benefits for the GCC region and its global counterparts.”

Xavier George, Managing Director of AlloyX, added:
“As we accelerate our leadership position in the region, this strategic collaboration lays a strong foundation for future innovations to come. We appreciate the amazing support from the Bahrain FinTech Bay leadership team as we progress toward the launch of our stablecoin.”

Group Photo of representatives of Bahrain Fintech Bay and AlloyX Limited

About AlloyX Limited:

A subsidiary of Solowin Holdings (Nasdaq: AXG), AlloyX Limited serves as a bridge between traditional finance and the digital assets ecosystem as a global integrated financial services institution. The Company operates across stablecoin payments, tokenization service, digital brokerage, and on-chain financial infrastructure. By integrating traditional brokerage and banking systems with blockchain technology, AlloyX delivers secure, efficient, and auditable digital financial solutions for institutions. Backed by leading international investors, we are building the next generation digital financial infrastructure empowering the global transition toward a regulated digital economy.

For more information, visit the Company’s website at https://www.alloyx.com or please visit: www.alloyx.com.

About Bahrain FinTech Bay (BFB):

Founded in 2018, Bahrain FinTech Bay (BFB) is the Kingdom’s leading ecosystem builder, dedicated to advancing innovation and collaboration across financial services. It incubates impactful and scalable fintech initiatives through innovation labs, acceleration programs, curated activities, and educational opportunities.

As an ecosystem builder, BFB plays a pivotal role in driving the growth and maturity of Bahrain’s fintech ecosystem by fostering connectivity between government bodies, financial institutions, corporates, consultancy firms, universities, associations, venture capital firms, and fintech startups. Through its ecosystem-building initiatives, BFB continues to support the Kingdom’s vision to position Bahrain as a regional hub for fintech innovation and digital transformation.

Bahrain FinTech Bay is a subsidiary of The BENEFIT Company.

For more information, please visit BFB’s website: www.bahrainfintechbay.com.

Contact

Charlotte Qi
[email protected]

Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/56fa73fe-0c21-4cd8-81dd-7fea4779f0a2
https://www.globenewswire.com/NewsRoom/AttachmentNg/7a155719-62b5-44af-a64c-55964c2aa12a