Sterling and Wilson Renewable Energy (SWREL) has posted revenue of ₹15.90 billion (~$165.1 million) in the first quarter (Q1) of the financial year (FY) 2027, a 9.7% year-over-year (YoY) decline from ₹17.62 billion (~$182.9 million) during the same period last year.

The company said revenue was impacted by lower recognition in the engineering, procurement, and construction (EPC) segment. There are six turnkey projects (3 in India and 3 in International) that are yet to commence execution and are likely to skew revenue recognition towards the second half of FY27.

The company’s profit after tax increased by 37.7% YoY to ₹533 million (~$5.53 million), up from ₹387 million (~$4.02 million) the year before.

The earnings per share for the quarter stood at ₹2.32 (~$0.0241), an increase of 69.3% from ₹1.37 (~$0.0142) the year before.

The company’s revenue for the EPC business stood at ₹15.04 billion (~$156.1 million), down 11.6% from ₹17.01 billion (~$176.6 million) the year before.

Revenue from operations & maintenance (O&M) services stood at ₹848 million (~$8.80 million), up 40.6% from ₹603 million (~$6.26 million) in Q1 FY 2026.

The company’s unexecuted order value (UOV) reached ~₹130 billion (~$1.35 billion), the highest UOV post-COVID.

Speaking on the results, Chandra Kishore Thakur, Global CEO, Sterling and Wilson Renewable Energy Group, said, “We remain confident about our prospects because the company’s UOV is robust. We expect this growth to be reflected in the topline and bottom line in the months ahead. As a company, we are certain that our experienced and competent workforce will be able to deliver projects on schedule, adhering to committed timelines.”

During the quarter, the company also signed a 50-50 joint venture with one of the leading contractors in Egypt and the MENA region, valued at approximately ₹560 million (~$5.82 million), for the West Minya Solar Power Project in Minya Governorate, Egypt. This 1 GW solar project is integrated with a 600-MWh battery energy storage system. Once complete, it will rank among Egypt’s largest utility-scale renewable developments.

SWREL has a total portfolio of over 28.7 GW (including projects that have been commissioned and are in various stages of construction). SWREL also manages an O&M portfolio of 18.3 GW of solar power projects, including those constructed by third parties. Present in 28 countries today, Sterling and Wilson Renewable Energy Limited has operations in India, South-east Asia, the Middle East, Africa, Europe, Australia, and the Americas.

SWREL reported a consolidated revenue from operations of ₹19.46 billion (~$207.57 million) for Q4 FY 2026, a 22.8% YoY decline from ₹25.19 billion (~$268.69 million) in the same quarter of the previous year.