Shares of Sterling and Wilson Renewable Energy Ltd. experienced a significant surge of nearly 16% on Monday, April 20, 2026, following the announcement of substantial new domestic orders. The renewable energy solutions provider secured contracts worth a total of Rs 3,490 crore, bolstering its order book and signaling strong business momentum.
Major Project Wins Drive Stock Performance
The primary driver behind today's stock rally is Sterling and Wilson Renewable Energy's success in two key tenders. The company was declared the L1 bidder for a Coal India project, encompassing a turn-key Engineering, Procurement, and Construction (EPC) package for an 875 MW (AC) grid-connected Solar PV Project in Bikaner, Rajasthan. This contract, including Operations & Maintenance (O&M) and taxes, is valued at Rs 3,490 crore.
In addition to the Coal India win, Sterling and Wilson Renewable Energy also secured an order for a 50 MW AC project in Maharashtra, India, from a prominent Indian Private Independent Power Producer (IPP).
Chandra Kishore Thakur, Global CEO of Sterling and Wilson Renewable Energy Group, expressed his satisfaction, stating, “We are delighted to announce our first project from Coal India, and to partner in their renewable energy growth story. We are excited to close an eventful FY26 on a strong note and achieve more than Rs 10,000 crore in EPC order inflows, which is significantly higher than our initial target set for the year.”
With these new wins, the company's total EPC order inflow for the financial year 2026 has now exceeded Rs 10,062 crore, surpassing its initial targets. Thakur further emphasized India's robust growth trajectory in renewable development, affirming the company's commitment to sustaining its growth momentum as a leading solar EPC firm.
Stock Volatility and Upcoming Earnings
Despite today's impressive gains, Sterling and Wilson Renewable Energy has faced significant long-term losses, declining 23% in the past year, crashing 60% over two years, and recording a 29.26% loss over five years. The stock hit a 52-week low of Rs 148.30 on March 30, 2026, and a 52-week high of Rs 348.90 on June 12, 2025.
On Monday, the stock closed at Rs 224.95, pushing the firm's market capitalization to Rs 5,210 crore. A total of 13.04 lakh shares were traded, amounting to a turnover of Rs 28.20 crore.
Investors are now looking ahead to the company’s upcoming financial results. Sterling and Wilson Renewable Energy is scheduled to announce its Q4 and full-year FY26 earnings on Thursday, April 23, 2026. The trading window for designated persons and their immediate relatives remains closed until 48 hours after the results are declared.
Q3 Financials Overview
In the December 2025 quarter (Q3), the company reported a consolidated net profit of Rs 2 crore, a decrease from Rs 17 crore in the December 2024 quarter. This decline was primarily attributed to an exceptional charge of Rs 30.84 crore related to additional legal costs from a US subcontractor case following a final arbitration decision. However, revenue from operations showed a positive trend, increasing by 14% to Rs 2,092 crore compared to Rs 1,837 crore in the prior year's comparable period.
EBITDA for Q3 2025 stood at Rs 51 crore, down from Rs 73 crore year-on-year, resulting in a reduced EBITDA margin of 2.4% from 4%. Despite these figures, the company managed to reduce its net debt by nearly Rs 4 crore in Q3 2025 compared to the previous quarter, although net working capital remained negative at Rs 407 crore.