Sterling & Wilson Renewable Energy Limited (SWREL), a leading player in the renewable energy EPC sector, has announced three significant new project orders totaling approximately INR 1,772.00 crore, reinforcing its strong market position and execution capabilities.

Domestic Solar EPC Projects

SWREL has been declared the lowest bidder (L1) for two domestic solar EPC projects:

1. A 363 MWp DC project in Rajasthan
2. A 580 MWp DC project in Uttar Pradesh

Both projects will be executed on a Balance of System (BOS) basis, highlighting the company's expertise in providing comprehensive solar power solutions.

International Expansion

In addition to the domestic wins, SWREL has received a Letter of Intent for a 115 MWp project in South Africa, valued at approximately USD 120.00 million (INR 998.00 crore). This marks the company's third order in the South African market, demonstrating its growing international presence and capability to secure projects in competitive global markets.

Order Book Growth

With these new orders, SWREL's total EPC order inflows for the current fiscal year have surpassed INR 3,775.00 crore. This significant increase in the order book provides strong revenue visibility for the coming quarters.

Management Commentary

Mr. Chandra Kishore Thakur, Global CEO of Sterling and Wilson Renewable Energy Limited, expressed satisfaction with the recent wins, stating, "We are very happy to have won two more prestigious domestic solar projects and these project wins continue to reflect our strong positioning in a fast growing domestic market. Apart from our leading presence in India, we are also encouraged by the strong inroads we are making into another rapidly growing market in South Africa where we have bagged our third order worth USD 120 million."

Project Timelines and Margins

The company expects to complete these projects in Q1 FY2027 while maintaining its order booking margins, indicating confidence in its execution capabilities and financial management.

Financial Performance

According to the company's recent financial results:

The company's revenue showed a strong year-on-year growth of 70%, while operational EBITDA improved significantly by 170%, reflecting improved operational efficiency.

Outlook

With a current unexecuted order value of INR 9,287.00 crore and a healthy bid pipeline of 25.4 GW for FY2026, SWREL is well-positioned to capitalize on the growing demand for renewable energy solutions both in India and internationally. The company's focus on securing large-scale projects and expanding its global footprint is likely to drive its growth in the coming years.

As the renewable energy sector continues to gain momentum globally, SWREL's strong order book and execution capabilities place it in a favorable position to benefit from the industry's growth trajectory.

Sterling & Wilson Renewable Energy Limited (SWREL), a leading player in the renewable energy sector, has reported a significant increase in revenue but faced a substantial loss in its latest financial results due to a one-time write-off.

Revenue Growth and Financial Performance

SWREL reported a 70% year-on-year increase in quarterly revenue, reaching INR 1,749.00 crore. This significant growth demonstrates the company's ability to expand its operations, driven by higher domestic and international project execution.

Operational EBITDA Improvement and Net Loss

The company's operational EBITDA improved to INR 62.00 crore from INR 23.00 crore in the previous year quarter. However, SWREL reported a net loss of INR 478.00 crore, primarily due to a one-time write-off of approximately INR 637.00 crore resulting from an adverse arbitration ruling in the US.

Order Book and Project Portfolio

SWREL secured new orders worth INR 3,775.00 crore during the fiscal year to date, with the current unexecuted order value standing at INR 9,287.00 crore. The company maintains a total portfolio of over 24.4 GWp and operates across 28 countries.

Half-Year Performance

For the first half of the fiscal year, SWREL's revenue reached INR 3,510.00 crore, representing an 80% increase over the same period last year.

Financial Highlights

Looking Ahead

Despite the substantial loss due to the one-time write-off, Sterling & Wilson Renewable Energy's significant revenue growth and improved operational EBITDA indicate ongoing demand for its services in the renewable energy sector. The company's future performance may depend on its ability to capitalize on its growing order book while managing potential risks associated with international projects.

Investors and stakeholders will likely be watching closely to see how SWREL addresses these challenges and implements strategies to improve its financial position in the coming quarters, particularly in light of its expanding global operations and project portfolio.