Sterling and Wilson Renewable Energy Revises Order Inflow Guidance To More Than Rs 11,000 Cr for FY26

Sterling and Wilson Renewable Energy Limited (SWREL) has announced its results for the third quarter of FY26. With an impressive ~48% YoY growth in top-line, the company has achieved revenue of INR 5,602 crore in 9MFY26 vis-à-vis INR 3,783 crore in the same period last year. The improvement in the company’s credit rating and the continued support from lenders resulting in new credit lines to the Company has enabled the team to deliver to its potential and improved customer confidence.

Operational EBITDA in the first 9 months is INR 289 crore as compared to INR 134 crore for 9MFY25 (+115% YoY).

The company’s new order inflow has been very strong this fiscal touching INR 6,929 crore during 9MFY26. The company has revised its new order inflow guidance for Fiscal 2026 to more than INR 11,000 crore (+60% YoY) on the back of continued ordering momentum.

During Q3FY26, the company signed a 5-year framework agreement with Adani Green, and also secured its first BOS order from them. This marks an important turning point from SWREL’s perspective as not only does it show that one of India’s leading developers has shown confidence in SWREL, but also that after years of doing self EPC they have taken a decision to work with prestigious third-party EPC contractors to enable them to scale up to meet their ambitious growth targets.

SWREL also secured its second South African order worth USD 147 million during the quarter, while also adding two more Indian RE projects including a pure BESS order from a leading Indian IPP.

Speaking on the quarter results, C. K. Thakur, Global CEO, Sterling and Wilson Renewable Energy Group, said, “SWREL has delivered robust revenue growth displaying our strong execution skills in the domestic segment. The marquee order from Adani Green and signing a strategic 5-year framework agreement with them is an important milestone reflecting the strong faith placed in our company’s execution by globally renowned RE developers. Furthermore, our continued order inflows and growing opportunities across domestic and international markets underscore the strong potential of our business, reinforcing SWREL’s visibility and quality of its growth pipeline. This momentum demonstrates the strength of our underlying business fundamentals.”