Sterling and Wilson Renewable Energy, the engineering, procurement, and construction (EPC) arm of the Shapoorji Pallonji Group, posted a net profit of ₹90 million (~$1.07 million) in the second quarter of the financial year (FY) 2025, swinging from a net loss of ₹540 million (~$6.42 million) in the same quarter last year. This marks the third consecutive quarter of profit for the company.

Revenue growth of 36% year-over-year (YoY) helped the bottom line touch ₹10.31 billion (~$122.64 million) in the quarter, up from ₹7.59 billion (~$90.28 million).

Revenue growth was primarily driven by higher execution in the domestic EPC segment, which contributed ₹9.35 billion (~$111.22 million) to the total revenue. International EPC operations generated ₹360 million (~$4.28 million), while the operations and maintenance segment added ₹600 million (~$7.13 million) to the top line.

Earnings before interest, tax, depreciation, and amortization (EBITDA) for the quarter was ₹510 million (~$6.06 million), a 183% YoY rise from ₹180 million (~$2.14 million).

The company has an unexecuted order value of ₹105.49 billion (~$1.25 billion) as of September 2024, compared to ₹80.84 billion (~$961.64 million) as of March 2024. The company has received new orders in six domestic projects worth ₹20.44 billion (~$243.14 million) after the first quarter of this financial year.

Half Year FY 2025

Sterling and Wilson posted a net profit of ₹134 million (~$1.59 million) in the first half (1H) of FY 2025, swinging from a net loss of ₹1.5 billion (~$17.84 million) in the same period last year.

The company reported revenue of ₹19.46 billion (~$231.48 million) in 1H FY 2025, a 53% YoY increase from ₹12.74 billion (~$151.55 million).

Sterling and Wilson posted a net profit of ₹50 million (~$600,000) in Q1 FY 2025  against a net loss of ₹950 million (~$11.4 million) in the same quarter last year.

Last December, the company raised ₹15 billion (~$180.03 million) through Qualified Institutions Placement.