The company has, however, seen a significant sequential recovery, moving back into the black from a net loss of Rs 478 crore recorded in Q2 FY26.

Revenue from operations rose by 13.9% YoY to Rs 2,092 crore during the period under review.

EBITDA declined by 30.1% to Rs 51 crore in Q3 FY26 from Rs 73 crore recorded in Q3 FY25. EBITDA margin for Q3 FY26 was 2.4% as against 4.0% in Q3 FY25.

Profit before tax in Q3 FY26 stood at Rs 5 crore, which is significantly lower as compared with the pre-tax profit of Rs 41 crore recorded in Q3 FY25.

During Q3 FY26, the company signed a 5-year framework agreement with Adani Green, and also secured its first BOS order from them.

SWREL also secured its second South African order worth USD 147 million during the quarter, while also adding two more Indian RE projects including a pure BESS order from a leading Indian IPP.

The company further said that its new order inflow have been very strong this fiscal, touching Rs 6,929 crore during 9M FY26. The company has revised its new order inflow guidance for Fiscal 2026 to more than Rs 11,000 crore (up 60% YoY) on the back of continued ordering momentum.

C. K. Thakur, Global CEO, Sterling and Wilson Renewable Energy Group, said: “SWREL has delivered robust revenue growth displaying our strong execution skills in the domestic segment.

The marquee order from Adani Green and signing a strategic 5-year framework agreement with them is an important milestone reflecting the strong faith placed in our company’s execution by globally renowned RE developers.

Furthermore, our continued order inflows and growing opportunities across domestic and international markets underscore the strong potential of our business, reinforcing SWREL’s visibility and quality of its growth pipeline.”

Sterling and Wilson Renewable Energy (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 26.1 GWp. SWREL also manages an operation and maintenance (O&M) portfolio of 10.1 GWp solar power projects.

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