Revenue increased by 92.5% to Rs 1761.63 crore in the first quarter from Rs 915.06 crore recorded in the same period last year. This was due to higher execution pace in Domestic and International EPC projects, despite domestic execution challenges due to cross-border tension.
Total operating expenditure increased by 88.3% YoY to Rs 1676.17 crore in Q1 FY26.
Gross margins improved to 11.7% (gross profit at Rs 205 crore) in Q1 as compared to 11.1% (gross profit at Rs 102 crore) in Q1 FY25 aided by softening of key input costs. Gross margins across key segments - domestic EPC, international EPC and O&M witnessed improvement and have trended higher in Q1.
SWREL reported Q1 EBITDA at Rs 102 crore (5.8% EBITDA margin) as against Rs 37 crore in Q1 FY25. The EBITDA is up 176% YoY, facilitated by higher margins and stable recurring overheads.
Profit before tax in Q1 FY26 stood at Rs 74.67 crore, which is over five time the pre-tax profit of Rs 14.66 crore registered in Q1 FY25.
On a sequential basis, the company’s consolidated net profit and revenue are lower by 42.3% and 30.1%, respectively.
CK Thakur, global CEO, Sterling and Wilson Renewable Energy Group, said: "SWREL's Q1 FY26 results reflect the strong focus on execution and a disciplined approach in our financial strategy.
Our and operational efficiency demonstrated in all the markets have driven a steadfast revenue growth of 93% year-on-year."
Sterling and Wilson Renewable Energy Limited (SWREL) is a global pure-play, end-to-end renewable engineering, procurement, and construction (EPC) solutions provider. The company provides EPC services for utility-scale solar, floating solar, hybrid & energy storage and wind solutions and has a total portfolio of over 22.8 GWp (including projects commissioned and under various stages of construction).
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