The renewable energy sector plays a crucial role in India’s sustainable development and energy transition. Given its capital-intensive nature and exposure to macroeconomic shocks, assessing the financial health of renewable energy firms is essential. This study evaluates the financial performance of major listed renewable energy companies in India during FY2019–FY2024, covering pre-pandemic, pandemic, and post-pandemic phases. Using secondary data from audited financial statements, the study applies ratio analysis, One-Way ANOVA, correlation analysis, and the Altman Z-Score model. The findings indicate that despite temporary fluctuations during the pandemic, there is no statistically significant structural change in liquidity, profitability, leverage, or efficiency. Firms maintained adequate solvency, moderate profitability, and low financial distress risk. Market valuation is found to be positively associated with asset-based profitability. The study concludes that the renewable energy sector in India demonstrates financial resilience and structural stability.