Sterling and Wilson Renewable Energy Q4 FY26 Earnings Call Transcript Released
Sterling and Wilson Renewable Energy released its Q4 FY26 earnings call transcript. The company reported over ₹10,000 crore in new orders for FY26, with an unexecuted order book exceeding ₹11,800 crore. FY26 revenue reached ₹7,548 crore, and Q4 FY26 PAT was ₹142 crore. Despite an annual loss of ₹296 crore due to litigation costs, the company expects growth and is engaged in discussions with Reliance New Energy.
The transcript provides detailed operational and financial performance, future outlook, and management commentary on key aspects like order book, O&M growth, and ongoing discussions with major players like Reliance. This information is material for investors.
The announcement is neutral as it provides a transcript of an earnings call, which includes both positive operational and financial highlights (strong order book, revenue growth) and negative factors (annual loss due to litigation).
Sterling and Wilson Renewable Energy Limited has released the transcript of its Q4 FY26 Earnings Conference Call, which was held on April 24, 2026. The call covered the company's audited consolidated and standalone financial results for the quarter and year ended March 31, 2026.
During the fiscal year FY26, the company secured new orders worth over ₹10,000 crores, marking it as one of the most successful years in terms of order bookings. The unexecuted order value exceeded ₹11,800 crores, providing strong future earnings visibility. Sterling and Wilson commissioned approximately 4.5 gigawatt AC (5.9 gigawatt DC) of solar PV projects in India and internationally, representing about 15% of India's total solar utility-scale installations for FY26.
The company's employee headcount increased to 3,500. The operations and maintenance (O&M) segment has shown significant growth, with the total portfolio increasing to 13.5 gigawatts from 8.7 gigawatts in the previous fiscal, positioning Sterling and Wilson as a major third-party O&M player globally. The O&M segment is expected to accelerate its growth pace.
Financially, the company achieved its highest annual turnover since listing at ₹7,548 crores, a 20% increase from FY25. The highest-ever reported quarterly Profit After Tax (PAT) since listing was ₹142 crores in Q4 FY26. However, reported FY26 PAT was negatively impacted by exceptional items of ₹611 crores, primarily related to litigation, resulting in an annual loss of ₹296 crores.
Gross margins improved to 10.5% in FY26 from 10.1% in FY25, driven by the International EPC segment which saw margins improve to 13.2%. The company anticipates EPC gross margins to range between 8% to 10%, with O&M gross margins stabilizing around 20%. Operational EBITDA grew 53% year-on-year to ₹444 crores.
Debt levels declined by ₹149 crores compared to the previous quarter, and the company has raised fresh credit lines totaling nearly ₹2,800 crores. Discussions with Reliance New Energy are ongoing regarding technical parameters and project configurations, with traction expected in the current financial year. The company is also seeing traction in the battery energy storage systems (BESS) market, with opportunities for hybrid and standalone projects.
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Sterling and Wilson Renewable Energy Limited filed this with the NSE as a statutory disclosure, categorised under concall transcript released. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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See the model portfoliosA plain-language summary of a public exchange filing by Sterling and Wilson Renewable Energy Limited. Read the original for the full detail.