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Sterling and Wilson Renewable Energy Posts Record Revenue, Eyes Growth in Hybrid and Wind Sectors

Sterling and Wilson Renewable Energy (SWREL), the EPC division of the Shapoorji Pallonji Group, has recorded its highest-ever quarterly revenue of Rs2,519 crore for the quarter and Rs85.55 crore, with Q4 gross margins at Rs263 crore and EBITDA of Rs158 crore.

The total order book stood at Rs9,096 crore as of March 2025, up from Rs8,084 crore last year. New orders worth Rs7,051 crore were booked during FY 2025, with Rs5,897 crore from the domestic market alone. SWREL's Global CEO CK Thakur expressed optimism about future growth, citing a strong domestic and international pipeline. The company has diversified into wind EPC and is focusing on hybrid energy solutions. SWREL's portfolio exceeds 23 GW, with 8.8 GW under O&M. Additionally, a legal win in January from the Andhra Pradesh High Court clarified that solar projects attract a lower 5% GST, further strengthening the company’s financial standing.