Sterling and Wilson Renewable Energy

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• DebtLook closerRated BBB+ to BBB- by 2 agencies.
• ResultsMixedIn the Sep 2026 quarter, sales fell 13% and profit rose 104% from a year earlier. (A year earlier it made a loss.)
• DilutionNo new sharesNo new shares issued in the last year, so existing shareholders' slices were not cut.
• PromotersSteadyThe promoters (founders or parent) own 46% of the company, about the same as in Jun 2025.
• ValuationCheap vs its pastThe share trades at 14.6 times its yearly earnings (P/E), cheaper than 90% of the time in the last 2 years. Its usual P/E is about 17.

Sterling and Wilson Renewable Energy against the typical company in its industry. The rank is out of the companies that report each figure; green means the better quarter of the pack, red the worse quarter.

• Valuation (P/E)14.6 against a typical 14.4: pricier than most peers (1st = cheapest).93rd of 181
• Sales growth−12.6% against a typical +8.6% from a year earlier.114th of 147
• Share price, 3 months−30.9% against a typical −13.1%.146th of 164
• Size₹ 3,339.6 Cr. market value against a typical ₹ 148 Cr. (1st = largest).20th of 156

Exchange filings and their impact on the company.

• 23 Oct 2026Analysts/Institutional Investor Meet/Con. Call UpdatesMedium impactPositivePrice −4.2% that day
  Q2 call cuts FY27 growth to ~10% after weak H1 but guides strong H2 on Rs 12,481 cr order book and Egypt execution.

  Sterling and Wilson Renewable Energy filed the transcript of its October 16 Q2 FY27 earnings call. Q2 revenue was Rs 1,527 cr and H1 revenue Rs 3,118 cr, down 11%, with PAT of Rs 17 cr in Q2 and Rs 70 cr in H1 versus losses last year. Order book stood at Rs 12,481 cr, up 34% year-on-year, O&M portfolio hit a record 18.9 GW, and management guided to up to 10% FY27 revenue growth with EPC gross margins of 8-10% on a strong second-half execution ramp.

  Full analysisFiling
• 21 Oct 2026General UpdatesLow impactPositivePrice −2.6% on 22 Oct
  Kenya tax demand cut from Rs 26.5 cr to Rs 2.66 cr, saving ~Rs 23.8 cr.

  Sterling and Wilson Renewable Energy has reached a full and final settlement with the Kenya Revenue Authority for calendar years 2020 to 2023. The tax demand from the December 12, 2025 order is reduced from about Rs 26.50 crore including interest and penalties to about Rs 2.66 crore of principal only. The company will pay the principal by December 25, 2026, which waives all interest and penalties, saving about Rs 23.8 crore.

  Full analysisFiling
• 19 Oct 2026Pendency of Litigation(s)/dispute(s) or the outcome impacting the CompanyLow impactPositivePrice −4.9% on 21 Oct
  Subsidiary sues South African insurers to recover Rs 25.5 cr in bonds after subcontractor liquidation.

  Sterling and Wilson's step-down subsidiary Sterling and Wilson Engineering (Pty) Ltd has filed a case in the High Court of South Africa, Johannesburg, against two insurers after a subcontractor for the Doornhoek and Zondereinde projects went into liquidation. The subsidiary had invoked advance, performance and retention bonds worth about Rs 25.50 crore which the insurers allegedly failed to pay. The company says it expects no liability from the case, with any recovery being an upside.

  Full analysisFiling
• 15 Oct 2026Outcome of Board MeetingMedium impactPositivePrice −5.4% on 16 Oct
  Stronger Q2 sales and return to profit with lower debt point to continued recovery.

  Sterling and Wilson Renewable Energy reported unaudited results for the quarter and half year ended September 30, 2026. Standalone Q2 revenue was Rs 1456.33 crore, up from Rs 1276.07 crore a year ago, with profit before tax of Rs 29.4 crore, while H1 revenue was Rs 2943.44 crore with profit before tax of Rs 100.22 crore. Borrowings fell to Rs 920 crore from Rs 1164 crore at March 2026 on positive operating cash flow, supporting a continued recovery in profitability and balance sheet strength.

  Full analysisFiling

Results dates and other board meetings. Full calendar

Compounded yearly rates over each period.