Sterling and Wilson Renewable Energy Faces Financial Blow Amid Tribunal Ruling

Sterling and Wilson Renewable Energy reported a 91% drop in net profit for December 2025, due to a tribunal ruling resulting in charges of Rs 30.84 crore. Despite rising revenues, exceptional costs led to a significant profit decline. Additionally, Rajesh Mittal will join as Senior VP of IT.

Sterling and Wilson Renewable Energy saw its consolidated net profit plummet by nearly 91% to Rs 1.55 crore in the December quarter. This significant drop was attributed to an exceptional charge of Rs 30.84 crore following a tribunal ruling in favor of a subcontractor the company had previously terminated.

In a separate development, the company's unaudited financial results reveal that, during the quarter ending September 2025, an arbitral tribunal dismissed Sterling and Wilson's claim of Rs 485.64 crore. Instead, the subcontractor was awarded Rs 57.85 crore plus interest, alongside additional legal costs, impacting the company's profits.

Despite these financial setbacks, Sterling and Wilson's revenue from operations increased to Rs 2,092.21 crore, showcasing growth from Rs 1,837.20 crore a year earlier. Additionally, Rajesh Mittal has been appointed Senior Vice President of IT, taking on his role from January 20, 2026.

(With inputs from agencies.)