Sterling & Wilson Renewable Energy reported a 36% year-on-year growth in profit after tax (PAT) for the quarter ended June 30, 2026, driven by operational efficiency and a robust order book. The company’s Unexecuted Order Value (UOV) reached approximately ₹13,000 crore, the highest level recorded post-Covid, providing significant revenue visibility. During the quarter, the firm secured a marquee international project valued at USD 560 million in Egypt through a joint venture.

Financial Performance

The board of directors approved the unaudited consolidated and standalone financial results for Q1FY27. The statutory auditors conducted a limited review and expressed an unmodified conclusion. Total income for the quarter was ₹1,610.31 crore, compared to ₹1,782.74 crore in the prior year. Total expenses decreased to ₹1,553.66 crore from ₹1,708.07 crore year-on-year, aiding the profitability improvement despite lower topline.

Key Metrics

The following table summarizes the consolidated financial performance for the quarter:

Strategic Developments

The company won a significant order for the West Minya Solar Power Project in Minya Governorate, Egypt. This project involves a 1,000 megawatt-AC solar PV plant integrated with a 600 megawatt-hour battery energy storage system. Sterling & Wilson holds a 50% stake in the joint venture executing this project. The domestic EPC business maintains a healthy order book of approximately ₹7,900 crore with steady gross margins of 9-10%.

Segment Performance

The EPC business generated revenue of ₹1,503.91 crore, while the Operation and Maintenance (O&M) service segment contributed ₹84.80 crore, marking a 40% YoY growth. Segment results showed a profit before exceptional items and tax of ₹56.65 crore. The company noted that its net exposure regarding its investment in a wholly owned subsidiary, loans, and other receivables aggregated to ₹706.61 crore as of June 30, 2026, which it believes is recoverable based on projected cash flows.

Sterling and Wilson Solar Australia Pty Ltd (SWSAPL), a material subsidiary of Sterling & Wilson Renewable Energy , has commenced arbitration proceedings against Shell New Energies Australia Pty Ltd. The arbitration was filed under the London Court of International Arbitration Rules 2020 (LCIA Rules) on July 14, 2026, regarding contracts for the Gangarri Solar Farm in Queensland, Australia.

Arbitration Details

The dispute arises from two contracts between SWSAPL and Shell: one for the Engineering, Procurement and Construction (EPC) and another for the Operations and Maintenance of the solar farm. The subsidiary is seeking damages for claims related to these agreements.

Quantum of Claims

SWSAPL has outlined two scenarios for the damages sought, depending on the project capacity and the inclusion of harmonic filters. The claims include interest and legal costs as determined by the Arbitral Tribunal.

The disclosure was made to the BSE Limited and National Stock Exchange of India Limited pursuant to Regulation 30 read with Para B of Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.