Earnings Release
Sterling & Wilson Renewable Energy reports record FY26 performance with highest revenue and PAT
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Sterling & Wilson Renewable Energy (SWREL) reported its best-ever financial performance in FY26 with record revenue of ₹7,548 crore, highest-ever quarterly PAT, strong order inflow growth of 43%, and improved margins.
PRICE-SENSITIVE TRIGGER
Event: FY26 financial results announcement
Type: Earnings Release
Impact: Positive
Immediate Effect: Highlights strong execution, improved profitability, and robust order pipeline
Key Metrics:
- Revenue (FY26): ₹7,548 crore (highest ever)
- Quarterly PAT (Q4): ₹142 crore (record)
- EBITDA: ₹444 crore (↑53% YoY)
- Gross Margin: 10.5% (vs 10.1%)
- Order Inflow: ₹10,062 crore (↑43% YoY)
- Order Book (UOV): ₹11,813 crore
- Net Debt Reduction: ₹149 crore (QoQ)
Highlight:
- Record revenue + strong order growth + improved margins
What Happened ?
Sterling & Wilson Renewable Energy announced its audited FY26 and Q4 results, reporting record revenues, improved profitability, and strong execution performance, supported by robust order inflows and expanding global footprint.
key highlights
Operational Performance:
- Achieved ~4.5 GW execution capacity (highest ever)
- Strong EPC execution across domestic and international markets
Order Pipeline:
- FY26 order inflow: ₹10,062 Cr (↑43%)
- Unexecuted order value: ₹11,813 Cr
- Additional wins:
- L1 bidder for 1.182 GW project (Coal India)
- BOS order for 50 MW project
Margin & Profitability:
- Gross margins improved to 10.5%
- EBITDA growth of 53% YoY
- Reflects operational efficiency gains
Balance Sheet:
- Net debt reduced by ₹149 Cr
- Supported by strong cash flow generation
Strategic Positioning:
- Expanding into:
- Wind projects
- BESS (Battery Energy Storage Systems)
- O&M portfolio expanded to 13.5 GW
Future Outlook:
- Strong revenue visibility from large order book
- Positioned for accelerated domestic and global growth
Note:
- This is a broad-based strong earnings + execution story
Risk Analysis
Key Risks
- EPC execution risks in large-scale projects
- Margin pressure due to competitive bidding
- Dependency on project pipeline conversion
- Renewable sector policy/regulatory risks
Worst Case Scenario
- If execution delays or margin pressure intensifies, profitability growth may moderate
Risk Level: Medium
Company Commentary
- FY26 strongest performance in company history
- Strong execution and order inflow momentum
- Focus on innovation and strategic partnerships
- Diversification into wind and energy storage
Official Exchange Filing: Sterling & Wilson Renewable Energy