Sterling and Wilson Renewable Energy (SWREL) reported a revenue jump by 69.8% year-over-year (YoY) to ₹17.49 billion (~$198.9 million) in the second quarter (Q2) of the financial year (FY) 2026 from ₹10.3 billion (~$117.15 million).

The company attributed the revenue growth to an increase in domestic and international engineering, procurement, and construction (EPC) project execution.

The company, however, posted a loss of ₹4.78 billion (~$54.36 million) from a profit after tax of ₹85.7 million (~$974,735) in Q2 FY 2025.

The loss was attributed to a one-time write-off of approximately ₹5.8 billion (~$65.96 million) following an adverse arbitration ruling in the U.S., along with other provisions.

The company reported earnings before interest, taxes, depreciation, and amortization (EBITDA) loss of ₹4.7 billion (~$53.45 million), compared to an EBITDA of ₹510 million (~$5.8 million) in the same quarter last year.

Its earnings per share (loss) stood at ₹20.27 (~$0.23) compared to an EPS of ₹0.3 (~$0.003) in Q2 FY 2025.

IH Results

In the first half of 1H of FY 2026, SWREL’s loss amounted to ₹4.39 billion (~$49.93 million) from a profit after tax of ₹134 million (~$1.5 million) in the corresponding period of 2025.

Revenue rose 80.4% YoY to ₹35.1 billion (~$399.2 million) from ₹19.46 billion (~$221.3 million).

EPS (loss) came in at ₹18.9 (~$0.21), against ₹0.48 (~$0.005) in the same half of the previous year.

Business Highlights

SWREL had a portfolio of 24.4 GW EPC projects and 9.1 GW operation and maintenance (O&M) projects.

The company is also undertaking EPC and O&M of 1,177 MW projects in Abu Dhabi.

Its commissioned capacity stands at 11.6 GW and has 12.8 GW of projects under construction.

Total new order inflow was ₹37.75 billion (~$429.3 million) during FY 2026 to date. The current unexecuted order value stands at ₹92.87 billion (~$1.05 billion).

In September 2025, SWREL received a letter of intent from a private independent power producer for the EPC of the balance of system package for a 300 MW solar project in Rajasthan.

In Q1 FY 2026, revenue from operations rose to ₹17.62 billion (~$204.88 million), a 93% YoY increase from ₹9.15 billion (~$106.4 million).