Sterling and Wilson Renewable Energy Limited (SWSOLAR) — Announcement | 24 July 2026

Sterling and Wilson Renewable Energy Limited reported Q1 FY27 revenue of INR1,590 crores with a 9.9% gross margin and INR96 crores EBITDA, up 36% YoY net profit to INR53 crores. The company highlighted a record INR13,000 crores unexecuted order value, a landmark USD560 million joint venture in Egypt for a 1,000 MW solar + 600 MWh BESS project, and a robust pipeline of INR45,000-50,000 crores for FY27. Management expects 10-15% revenue growth this fiscal year, with gross margins stabilizing at 8-10% and EBITDA leverage benefits from scale. Record order wins of INR6,400 crores this quarter reflect strong execution momentum, supported by projects with Reliance and Adani. The firm emphasized negative working capital cycles, maintained dividend commitments, and targeted INR2,500+ crores revenue in Q3/Q4 despite monsoon-related delays. Gross margin pressure from turnkey orders is offset by higher-margin BoS projects, while BESS expansion aligns with India's 500MW solar target by 2030.