Sterling and Wilson Renewable Energy tumbles after recording loss of Rs 473.20 crore in Q2

The loss is due to an exceptional charge of Rs 580.10 crore recorded in the September 2025 quarter.

The company stated that during the earlier year, a wholly owned subsidiary company (WOS) of the Group had terminated a contract with a major subcontractor in a particular geography for delays and default of its obligations under the contract.

During the quarter, the Arbitral Tribunal passed an interim award in this matter whereby the claims that were considered recoverable of Rs 485.64 crore ($55.06 million) by WOS were dismissed and the subcontractor has been granted a claim amount of Rs 56.80 crore ($6.44 million) plus interest.

Accordingly, during the quarter, the Group has charged off Rs 580.10 crore (including estimated legal cost) in the statement of unaudited financial results for the quarter and six months ended 30 September, 2025 and classified the same as an exceptional item.

Sterling and Wilson Renewable Energy has recorded 70% YoY rise in revenue to Rs 1,749 crore in Q2 FY26. The revenue growth was driven by higher execution pace across large-scale domestic EPC projects and improving international contributions.

Operational EBITDA for Q2 FY26 was Rs 62 crore as against Rs 23 crore in Q2 FY25. It was supported by continued operating discipline and stable overhead management.

The company's gross profit for the quarter was Rs 156 crore, with margins reflecting the mix shift toward turnkey domestic projects commenced during the quarter.

The company secured projects (including L1) worth nearly Rs 3,000 crore since Q1, taking the total order inflow this fiscal to Rs 3,775 crore.

The current unexecuted order value stands at Rs 9,287 crore. The overall order pipeline continues to remain healthy, driven by upcoming opportunities in India, Africa and Europe.

C. K. Thakur, global CEO, Sterling and Wilson Renewable Energy Group, said: Despite industry headwinds, SWREL delivered steady operational performance during the quarter, underlining our strong execution focus and strategic market positioning.

Our consistent order inflow and expanding opportunities in India and International market reinforce our future potential.

Sterling and Wilson Renewable Energy (SWREL) is a global pure-play, end-to-end renewable engineering, procurement, and construction (EPC) solutions provider. The company provides EPC services for utility-scale solar, floating solar, hybrid & energy storage and wind solutions and has a total portfolio of over 24.4 GWp (including projects commissioned and under various stages of construction). SWREL also manages an operation and maintenance (O&M) portfolio of 9.1 GWp solar power projects, including for projects constructed by third parties.

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