Sterling and Wilson Renewable Energy Ltd.Sterling & Wilson Renewable: Order book ₹12,481 Cr, PAT ₹17 Cr

Sterling and Wilson Renewable Energy's Q2 FY27 call, held on 16 October 2026, reported revenue of ₹1,527 crore, with H1 revenue of ₹3,118 crore down 11% as older international projects ended and new ones had not started.

Profit after tax was ₹17 crore against a ₹478 crore loss a year ago, and operational EBITDA margin was 3.7%. The order book rose 34% to ₹12,481 crore, split 56% India and 44% international, with nearly 90% of H1 wins from abroad including the 1,000 megawatt West Minya project in Egypt. Management kept guidance of up to 10% revenue growth excluding Reliance, expects Q3 clearly better than H1 and Q4 the strongest quarter, and sees EPC gross margin of 8% to 10%.

It blamed unsigned power purchase agreements, the ALMM-II domestic cell rule and aggressive bidding, and gave no firm date for Reliance orders. Net debt was ₹601 crore and ₹156 crore of promoter indemnity is expected this year.