Sterling and Wilson Sees Surge in Renewable Energy Orders Despite Profit Decline

Sterling and Wilson Renewable Energy reported a 91% decrease in net profit for the December quarter due to an exception provision but saw a substantial rise in revenue. The company anticipates strong growth with revised order targets and strategic appointments, highlighting its promising order pipeline and new projects.

Sterling and Wilson Renewable Energy recently reported a significant decline of nearly 91 percent in its consolidated net profit for the December quarter, attributing this drop to an exceptional provision of Rs 30.84 crore. Despite this setback, the company's revenue from operations experienced a noticeable growth, increasing to Rs 2,092.21 crore from Rs 1,837.20 crore in the same period last year, according to its regulatory filing.

The company has outlined a strong forward outlook with new order inflows reaching a robust Rs 6,929 crore for the first nine months of FY26. This performance has led to the revision of its new order inflow guidance to surpass Rs 11,000 crore for the fiscal year, marking a substantial 60 percent year-on-year increase. Noteworthy achievements this quarter include securing its second South African order valued at USD 147 million and two additional renewable energy projects in India.

Leadership changes were also noted with the appointment of Rajesh Mittal as Senior Vice President – Information Technology and Senior Management Personnel. Global CEO CK Thakur expressed optimism about the growing opportunities in the domestic and international markets, reinforcing the company's strong growth potential and pipeline visibility. Sterling and Wilson Renewable Energy continues as a dedicated player in global renewable EPC solutions, with unexecuted order value reaching Rs 10,413 crore.

(With inputs from agencies.)