Sterling and Wilson Renewable Energy shares surged nearly 8% to ₹186.66 on Tuesday following the announcement of significant new orders worth over ₹985 crore. According to CNBC TV18, this represents the biggest single-day gain since June 12, 2026, when the stock had risen 7.8%. The stock rally reflects strong investor confidence in the company's expanding order book and international project portfolio. The stock rose as much as 7.7% to hit an intraday high of ₹186.66 per share, with shares trading 4.1% higher on Monday at ₹180.35, while the BSE Sensex remained largely flat at around 74,875. However, the stock is down 6% in the last one month and 16% so far this year, with longer-term performance showing a 48.88% decline over three years and 50.49% over five years.
Sterling and Wilson Renewable Energy (SWREL) has secured two significant orders with a combined value exceeding ₹985 crore on September 22. The company received a 534.3 MWp order in Rajasthan from a leading independent power producer (IPP) in India, involving the execution of a Balance of System (BOS) package and awarded by a new customer. Separately, SWREL secured an order for two Battery Energy Storage System (BESS) projects with a total energy storage capacity of 616 MWh in South Africa from a leading West Asia-based renewable energy projects developer, representing a turnkey EPC wrap assignment and coming from a repeat customer. The combined value of the two orders, including taxes, is more than ₹985 crore.
The latest orders demonstrate diversified customer relationships with SWREL securing one order from a new customer in Rajasthan that reaffirms industry trust in the company's project execution capabilities, while the South African order comes from a repeat customer that has experienced SWREL's expertise and dedication. As per CNBC TV18, this repeat business relationship highlights the strength of SWREL's customer relationships, built on consistent project execution, domain expertise, and skilled manpower developed over the years. The company's ability to secure orders from both new and established clients demonstrates its proven track record in project delivery across different markets.
The Rajasthan project carries significant environmental benefits, with the 534.3 MWp capacity estimated to reduce carbon dioxide emissions by approximately 0.80 million tonnes upon commissioning, thereby contributing to a more sustainable future. The South African order represents SWREL's second-largest utility-scale BESS project undertaken to date, involving a BESS turnkey EPC wrap and reinforces the company's position in the international renewable energy market. These new order wins further reinforce SWREL's position as one of the foremost players in the global renewable energy sector.
Chandra Kishore Thakur, Global CEO of Sterling and Wilson Renewable Energy, expressed satisfaction with the order wins, stating that the two orders reflect continued customer confidence in the company's project execution and technical capabilities. According to CNBC TV18, Thakur emphasized that these orders reinforce the momentum in the business and demonstrate the confidence customers place in the company's capabilities. He highlighted that the orders demonstrate the strength of SWREL's customer relationships, built on consistent project execution, domain expertise, and skilled manpower developed over the years. Sterling and Wilson Renewable Energy operates as a global pure-play, end-to-end renewable engineering, procurement, and construction (EPC) solutions provider with a total portfolio of over 28.7 GWp, including commissioned projects and those under various stages of construction. The company's operations and maintenance portfolio stands at 18.3 GWp of solar power projects and has a presence across 28 countries with operations spanning India, Southeast Asia, the Middle East, Africa, Europe, Australia and the Americas.
The latest order wins come as SWREL reported its first quarter earnings in July, showing mixed results. According to CNBC TV18, the company's net profit increased 69% to ₹54 crore from ₹32 crore in the previous fiscal, demonstrating strong profitability growth. However, revenue declined 9.7% to ₹1,590 crore from ₹1,761.6 crore compared to the previous year, while EBITDA declined 8% to ₹79.6 crore from ₹86.4 crore and margins remained flat at 5% from the year-ago period. The company's performance reflects the challenging market conditions in the renewable energy sector while highlighting its ability to maintain profitability despite revenue pressures.
