Sterling and Wilson sees strong order inflows despite Q2 write-off

Sterling and Wilson Renewable Energy Limited (SWREL) reported total new order inflow of INR 3,775 crore during the fiscal year to date, with current unexecuted orders valued at INR 9,287 crore. Revenue for Q2 FY26 increased by 70% year-on-year to INR 1,749 crore, driven by strong domestic and international execution, bringing the first half of FY26 revenue to INR 3,510 crore, an 80% increase from the prior year. Operational EBITDA for Q2 FY26 rose to INR 62 crore, nearly three times that of Q2 FY25, with a gross profit of INR 156 crore.

However, the company's reported EBITDA and profitability were significantly affected by a one-time write-off of approximately INR 637 crore due to an adverse arbitration ruling in the US and related provisions. This led to a reported PAT loss of INR 478 crore in Q2 FY26.

Despite the non-recurring write-off, SWREL secured projects worth nearly INR 3,000 crore since Q1, reinforcing its strong execution capabilities and market positioning. The company highlighted a healthy overall order pipeline, anticipating future opportunities in India, Africa, and Europe.