Sterling & Wilson Renewable Energy Limited has received a GST order from Maharashtra tax authorities demanding INR 62.93 lakhs, the company disclosed on February 27, 2026. The order pertains to disallowed input tax credits for certain transactions during the financial year 2019-20.

GST Order Details

The Assistant Commissioner of State Tax, Mumbai, Maharashtra issued the order on February 26, 2026, which the company received the same day. The order covers the period from April 2019 to March 2020 and involves disallowing input tax credit on certain transactions.

Company Response and Impact

Sterling & Wilson Renewable Energy has indicated that it is currently evaluating the order and is in the process of taking appropriate steps to address the matter. The company has stated that there is no material impact on its operations despite the GST demand.

The disclosure was made under Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015, as required for communications received from regulatory authorities. The company's Chief Financial Officer, Ajit Pratap Singh, signed the disclosure document.

Regulatory Compliance

The company has confirmed that no aberrations or non-compliances were specifically identified by the GST authorities in the communication beyond the input tax credit disallowance. The disclosure follows SEBI Circular No. SEBI/HO/CFD/CFD-PoD-2/P/CIR/2025/25 dated February 25, 2025, regarding regulatory communication disclosures.

Sterling & Wilson Renewable Energy Limited has announced the grant of employee stock options to eligible employees under its two ESOP schemes. The company's Nomination and Remuneration Committee approved the grant on February 17, 2026, as part of its employee incentive program.

ESOP Grant Details

The committee approved the grant of a total of 21,48,822 stock options across two employee stock option plans. The distribution shows significant allocation under both schemes:

The grant utilizes the full allocation available under ESOP Plan I, while ESOP Plan II 2025 saw partial utilization of available options.

Pricing and Exercise Terms

The exercise price for the granted options has been set at Rs. 172 per share, representing approximately 15% discount to the closing market price of Rs. 202.02 recorded on February 16, 2026, on the National Stock Exchange. Each option is exercisable into one equity share of face value Re. 1 each, fully paid-up.

The options will vest over a structured timeline, with vesting not earlier than one year and not later than three years from the grant date. Once vested, employees will have a maximum exercise period of four years to convert their options into equity shares.

Enhanced Allocation Limits

As part of the approval, the Nomination and Remuneration Committee increased the maximum number of options that can be granted to an individual employee under ESOP Plan II 2025. The new limit has been raised to 2,75,000 options from the previous ceiling of 1,90,000 options.

Regulatory Compliance

Both ESOP Plan I and ESOP Plan II 2025 are structured in compliance with the Securities and Exchange Board of India (Share Based Employee Benefits and Sweat Equity) Regulations, 2021. The disclosure has been made pursuant to Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

The total number of shares covered by these options amounts to 21,48,822 equity shares, which will be issued upon exercise of the vested options by eligible employees. Currently, no options have been exercised under either plan, as the vesting period has not commenced.