Sterling and Wilson Renewable Energy Limited (SWREL) has reported its audited financial results for the quarter and year ended March 31, 2026. The company achieved its highest annual turnover since listing, with FY26 revenue reaching ₹7,548 crore, a 20% YoY increase. Operational EBITDA for the year grew 53% YoY to ₹444 crore, while the company successfully commissioned 4.5 GW AC of capacity during the fiscal year.
Fiscal Year 2026 Financial Highlights
The company demonstrated strong growth in FY26, marked by a record turnover of ₹7,548 crore. Gross profit for the year stood at ₹793 crore, representing a 24% YoY growth. Operational EBITDA saw a significant improvement, reaching ₹444 crore with a 5.9% margin. These figures reflect the company’s improved operational efficiency and stabilized steady-state margins.
Record-Breaking Quarterly Performance
In the fourth quarter ending March 31, 2026 (Q4 FY26), the company reported a Profit After Tax (PAT) of ₹142 crore, the highest quarterly PAT since its listing. Quarterly revenue was ₹1,946 crore, with a gross profit of ₹234 crore and an EBITDA of ₹186 crore, showcasing strong momentum heading into the new fiscal year.
Order Book and Project Execution
SWREL continues to maintain a robust project pipeline, with order inflows of approximately ₹10,062 crore in FY26. The current Unexecuted Order Value (UOV) has reached ₹11,813 crore, the highest level recorded post-COVID. Significant project milestones include the execution of major solar and BESS projects in India, such as the 3 GW+ capacity being developed in Khavda, Gujarat, and the recently declared L1 status for a ~1.2 GW DC turnkey project with Coal India.
Strategic Growth in O&M
The Operations & Maintenance (O&M) segment has reached a key inflection point, with the portfolio growing to 13.5 GW as of March 2026, compared to 8.7 GW in FY25. This stable annuity business provides long-term revenue visibility and is expected to further improve margins through continued organic growth and strategic efficiency measures.
Source: BSE
