Indian renewable engineering, procurement and construction (EPC) firm Sterling and Wilson Renewable Energy Ltd. (SWREL) has revised its order inflow guidance for the financial year 2025-26 (FY26) to more than ₹11,000 crore, driven by strong new order momentum and a healthy pipeline of projects.
Robust Order Book Growth and Confidence for FY26
SWREL reported steady new order inflows during the first nine months of FY26 (9MFY26), with total orders worth ₹6,929 crore, supported by ₹3,086 crore of fresh orders in the third quarter (Q3FY26). This sustained momentum has given the company confidence to increase its full-year guidance by over 60% year-on-year.
Breakthrough Partnerships and Strategic Wins
In Q3FY26, the company signed a five-year framework agreement with Adani Green, and also secured its first balance-of-system (BOS) order from the developer a strategic milestone that reflects growing confidence from one of India’s leading renewable energy players.
During the quarter, SWREL also secured its second international order in South Africa, valued at around USD 147 million, along with two additional Indian renewable projects, including a standalone battery energy storage system (BESS) order from a major independent power producer.
Financial Performance Highlights
The company’s performance in 9MFY26 showed strong traction, with revenue of ₹5,602 crore, representing 48% year-on-year growth compared to the same period last year. Operational EBITDA in this period more than doubled to ₹289 crore, indicating a 115% increase compared with 9MFY25.
Management’s Perspective
Commenting on the 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 five-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.”
SWREL is a global pure-play renewable EPC solutions provider offering services across utility-scale solar, floating solar, hybrid energy, energy storage, and wind projects. It manages a total portfolio of over 26.1 GWp and an O&M portfolio exceeding 10.1 GWp of solar power assets worldwide.
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