Sterling & Wilson Raises FY26 Order Guidance

19 Jan 2026 CW Team

Sterling and Wilson Renewable Energy Ltd (SWREL) reported strong performance for Q3 FY26 and revised its full-year order inflow guidance upward to more than Rs 110 billion, supported by sustained project momentum and improved financial strength.

The company secured new orders worth Rs 30.9 billion during Q3 FY26 and built a robust pipeline heading into the final quarter. Unexecuted order value rose sharply to Rs 104.1 billion, driven by fresh order inflows of Rs 69.3 billion during the first nine months of FY26.

Revenue for the nine months ended December 2025 reached Rs 56.0 billion, marking growth of 48 per cent compared with Rs 37.8 billion in the same period last year. Operational EBITDA for 9M FY26 stood at Rs 2.89 billion, more than doubling from Rs 1.34 billion in 9M FY25.

Strong order inflows and improved credit ratings enabled the company to secure additional lending support and expand working capital lines, strengthening its execution capabilities and enhancing customer confidence.

During the quarter, SWREL signed a five-year framework agreement with Adani Green and secured its first Balance of System (BOS) order from the developer. The move is seen as a significant strategic milestone, as leading Indian renewable developers increasingly shift from self-execution to third-party EPC partners to scale projects more efficiently.

The company also secured its second South African order of the quarter valued at USD 147 million, alongside two additional Indian renewable energy projects, including a pure BOS contract from a leading Indian power producer.

With sustained domestic and international wins, SWREL has reinforced its position as a leading renewable EPC player while improving order visibility and strengthening its global project portfolio.

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