Sterling And Wilson Posts Record FY26 Revenue And Execution

27 Apr 2026 CW Team

The group achieved a historic execution milestone, commissioning four point five gigawatt (GW) alternating current capacity across India and international markets, the highest annual delivery to date. Unexecuted order value stood at Rs 118.13 bn, the highest since the COVID period, while order inflow for FY26 reached Rs 100.62 bn, a 43 per cent increase year on year across 12 projects. Net debt declined by Rs 1.49 bn from the prior quarter, supported by healthy cash flow and scheduled repayments.

The company reported an expansion of its operation and maintenance portfolio, which increased by 50 per cent year on year to 13.5 gigawatt peak (GWp), strengthening recurring revenue and EBITDA prospects. It has been declared L1 bidder for a 1,182 megawatt direct current (MWdc) turnkey project from Coal India and secured a balance of system order for a 50 MWdc project from a leading independent power producer, adding to the pipeline. The portfolio across projects commissioned and under construction exceeds 27.3 GWp and the firm operates in 28 countries.

The chief executive described FY26 as the group's strongest period yet, noting record performance, execution excellence and team strengthening to support future growth. He highlighted diversification into wind and battery energy storage systems and observed that the Rs 118.13 bn order book together with the enlarged 13.5 GWp O&M platform provides enhanced revenue visibility and positions the company to pursue accelerated domestic and international expansion amid improving cash flow dynamics.

Sterling and Wilson Renewable Energy Limited reported its financial results for the year ended 31 March, 2026, posting the highest annual turnover since listing and a record quarterly profit after tax. The company recorded revenue of Rs 75.48 bn in the fiscal year and reported a quarterly PAT of Rs 1.42 bn, with operational EBITDA rising by 53 per cent year on year to Rs 4.44 bn. Gross margins expanded to 10.5 per cent from 10.1 per cent, reflecting operational efficiency gains and stronger lender support during the period. The group achieved a historic execution milestone, commissioning four point five gigawatt (GW) alternating current capacity across India and international markets, the highest annual delivery to date. Unexecuted order value stood at Rs 118.13 bn, the highest since the COVID period, while order inflow for FY26 reached Rs 100.62 bn, a 43 per cent increase year on year across 12 projects. Net debt declined by Rs 1.49 bn from the prior quarter, supported by healthy cash flow and scheduled repayments. The company reported an expansion of its operation and maintenance portfolio, which increased by 50 per cent year on year to 13.5 gigawatt peak (GWp), strengthening recurring revenue and EBITDA prospects. It has been declared L1 bidder for a 1,182 megawatt direct current (MWdc) turnkey project from Coal India and secured a balance of system order for a 50 MWdc project from a leading independent power producer, adding to the pipeline. The portfolio across projects commissioned and under construction exceeds 27.3 GWp and the firm operates in 28 countries. The chief executive described FY26 as the group's strongest period yet, noting record performance, execution excellence and team strengthening to support future growth. He highlighted diversification into wind and battery energy storage systems and observed that the Rs 118.13 bn order book together with the enlarged 13.5 GWp O&M platform provides enhanced revenue visibility and positions the company to pursue accelerated domestic and international expansion amid improving cash flow dynamics.

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