ReNew Energy Global Growth Prospects Not Fully Reflected in Valuation, Skeptical Investors Eye Expansion Plans
• ReNew Energy Global's price-to-sales ratio of 2.3x is higher than the industry median of 2.1x
• The company has delivered strong revenue growth recently, up 22% last year and 82% over 3 years
• Analysts forecast ReNew Energy Global's revenue to grow 15% per year over the next 3 years, outpacing industry growth forecasts
• Despite the strong growth, ReNew Energy Global's price-to-sales ratio is similar to industry peers
• The mismatch between growth forecasts and valuation suggests investors are skeptical of ReNew Energy Global achieving expected growth