Sterling and Wilson Renewable Energy Limited has submitted to the Exchange, the financial results for the period ended March 31, 2026.
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Sterling and Wilson Renewable Energy reported total revenue of ₹6,163.81 crore for FY2026, up 14.4% from ₹5,387.04 crore in FY2025, driven by growth in both EPC and O&M segments. However, the company posted a massive net loss of ₹2,510.18 crore compared to a profit of ₹318.26 crore in the previous year, primarily due to exceptional items totaling ₹2,802.18 crore. These exceptional items include write-offs and impairments of ₹599.70 crore related to a subsidiary and ₹2,038.72 crore (plus additional ₹163.76 crore) related to an O&M contract with uncertain cash flows. The auditors issued an unmodified opinion but included emphasis of matters on the indemnity agreement with promoter shareholders covering claims above ₹300 crore and the impairment details. Operating cash flow remained positive at ₹282.33 crore despite the net loss.
The massive exceptional items-driven loss is likely to significantly impact the stock price negatively in the short term, as the impairments indicate serious issues with subsidiary recoverability and contract viability. However, the positive operating cash flow and underlying revenue growth may provide some comfort to long-term investors.