Summary

Sterling and Wilson Renewable Energy (SWREL) concluded FY26 with its strongest performance to date, achieving a record annual turnover of ₹7,548 crore, representing a steady ~20% year-on-year growth. The company reported its highest-ever quarterly PAT of ₹142 crore in Q4 FY26 and saw operational EBITDA increase by 53% year-on-year to ₹444 crore for the fiscal year, with gross margins expanding to 10.5%. SWREL also achieved a historic execution milestone by commissioning ~4.5 GW AC capacity and secured robust order inflows of ₹10,062 crore, reflecting a 43% year-on-year growth. Management highlighted these achievements, along with a strong order book of ₹11,813 crore and diversification into Wind and BESS projects, as foundational for accelerated domestic and international growth in FY27.

Key Highlights

1. 1

   Sterling and Wilson Renewable Energy recorded its highest-ever annual turnover of ₹7,548 crore in company's history since listing for FY26.

2. 2

   The company achieved its highest-ever quarterly Profit After Tax (PAT) of ₹142 crore in Q4 FY26, a record since listing.

3. 3

   Gross margins for FY26 expanded to 10.5%, an increase from 10.1% in FY25, reflecting operational efficiency gains.

4. 4

   SWREL secured order inflow of ~₹10,062 crore in FY26 across 12 projects, marking a robust 43% year-on-year growth.

5. 5

   The company achieved its highest-ever execution, commissioning ~4.5 GW AC capacity in FY26 across India and international markets.

6. 6

   Operational EBITDA for FY26 increased by 53% year-on-year to ₹444 crore.

7. 7

   Net debt decreased by ₹149 crore compared to the last quarter, driven by healthy cash flow momentum and scheduled repayment.