Sterling and Wilson Renewable Energy Ltd

Sterling & Wilson Renewable Energy: Strong ₹9,287 Cr Order Book 📊 | Revenue Up 108% YoY, But Margins Dip 📉

• Strong order book of ₹9,286.59 crore as of September 30, 2025

• Recent contracts in South Africa worth ₹1,313 crore

• Contract with Adani Green Energy worth ₹1,381 crore

• Revenue grew to ₹6,301.86 crore in FY25 (108% YoY increase)

• Revenue in 1HFY26 was ₹3,510.23 crore

• EBITDA margin dropped to 2.55% in 1HFY26 from 3.92% in FY25

• Net loss reported primarily from an exceptional item of ₹580.10 crore

• Capital structure weakened with overall gearing rising to 2.87x as of September 30, 2025

• Tangible net worth declined to ₹415.92 crore

• Liquidity assessed as stretched with upcoming repayment obligations

• Indemnity agreement provides comfort against contingent liabilities