Sterling And Wilson Renewable Energy Limited · NSE:SWSOLAR
Sterling And Wilson Renewable Energy — Q4 FY26 Earnings Presentation
28 slides from Sterling And Wilson Renewable Energy's earnings presentation, Apr 23, 2026
Slide 1: Exchange filing cover letter for investor presentation
April 23, 2026 BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, Exchange Plaza, Dalal Street, Bandra Kurla Complex, Mumbai – 400 001 Bandra (East), Mumbai – 400 051 Scrip Code: 542760 Symbol: SWSOLAR Sub.: Investor presentation on the Audited Standalone and Consolidate
Slide 2: The future of solar energy is Bright
The future of solar energy is Bright STERLING AND WILSON RENEWABLE ENERGY LIMITED Investor Presentation – Q4 FY26 ONE OF THE LEADING SOLAR EPC AND O&M SOLUTIONS PROVIDERS IN THE WORLD 23 Apr 2026
Slide 3: Disclaimer
Disclaimer This presentation and the accompanying slides (the “Presentation”), which have been prepared by Sterling and Wilson Renewable Energy Limited (the “Company”), have been prepared solely for information purposes and is not a prospectus, disclosure document, placement document or other offeri
Slide 4: Contents
Contents Company Overview Our Journey 04 05 Business Overview Track record 07 12 Market Opportunity Financial Highlights 15 18 Beyond Business 26 3
Slide 5: About us
About us | WHO WE ARE Leading Solar EPC and O&M Solutions Provider Market Leader Leading Solar EPC We offer Design, Detailed Engineering, Procurement, Construction, Installation, solutions provider in Commissioning and Operations & Maintenance services under turnkey EPC and BoS the world (Balance of
Slide 6: Journey
Journey 2018 2022 2020 2024 Expanded Reliance New Energy 2013 operations in Australia by Ranked 2nd largest O&M player in the acquired 40% stake in SWREL closed five 2026 Sterling and Wilson marquee project wins acquiring a world by Wood Completed our first turnkey 2016 controlling stake in Mackenzi
Slide 7: Accreditations and Awards
Accreditations | AND AWARDS Demonstrating Business Excellence and Industry Leadership OHSSAI Safety Award Khavda RE Project Recognized as a Top awarded Best FQA Lab awarded at the 9th Annual Brand EPC 2025 by EUPD Facility in RE Cluster at HSE Excellence & ESG Research All India QA Meet 2024 Global
Slide 8: Offerings
Offerings | SOLUTIONS AND SERVICES 01 Utility Scale 03 Floating Solar Projects 02 04 Operation & Hybrid & Energy Maintenance Storage (O&M)
Slide 9: Turnkey EPC solutions for utility-scale projects
Turnkey EPC solutions for utility-scale projects Sterling and Wilson Renewable Energy offers a range of turnkey and Balance of System (BoS) solutions for utility-scale, and floating solar power projects. The company also offers solar plus storage solutions, and Hybrid projects including Wind. Our tu
Slide 10: Fully Integrated Battery Energy Storage Solution
Fully Integrated Battery Energy Storage Solution 01 02 03 04 05 06 BATTERY BATTERY RACKS PCS + MV EMS & HYBRID INSTALLATION & OPERATIONS & MODULE + BMS & CONTAINER STATION CONTROLLER COMMISSIONING MAINTENANCE Long Term Supply In House Containers Decade long MV side Strong Partnerships 27.3 GWp of In
Slide 11: Floating Solar – Ushering in the next wave of sustainability
Floating Solar – Ushering in the next wave of sustainability Floating solar plants have an advantage over ground-mounted solar plants owing to their negligible land requirement as these plants can be installed on reservoirs, industrial pools or even small lakes. We offer turnkey EPC for floating sol
Slide 12: O&M – Maintaining relationships that last
O&M – Maintaining relationships that last Global Operations & Maintenance (O&M) portfolio, and strong expertise working with the leading equipment manufacturers and constructors. Over seven years experience in the O&M of solar power stations – meticulously caring for the useful life of assets, maxim
Slide 13: On a Strong Footing
On a Strong Footing | TRACK RECORD Strong Execution Record Strong Balance Sheet Core of Project Execution Commissioned: 17.2 GW March 26 Net worth: INR 651 cr Global Manpower Strength: 3,459 Under-Construction: 10.1 GW March 26 Net D/E: 0.9x BBB+ (Credit Rating) * Over 50 projects under execution An
Slide 14: Why Us
Why Us | WHAT DIFFERENTIATES US Cost Effective Leveraging the Low-Cost India Base for global execution providing cost Expeditious competitive solutions Quick Decision Making & well-defined internal processes leading to timely execution Global Presence One of the only Global Pure-Play Solar EPC playe
Slide 15: Our Presence
Our Presence | ACROSS THE GLOBE UK Europe 266 MWp Kazakhstan Spain Jordan Italy USA USA Egypt Vietnam 455 MWp Morocco UAE Saudi Arabia Thailand Mexico MENA Mali 1,969 MWp Oman Philippines India Nigeria India Kenya 21,716 MWp Tanzania Zambia Singapore Namibia Southeast Asia Latin America 323 MWp 575
Slide 16: Market Opportunity
Market Opportunity
Slide 17: Solar Market Outlook – India
Solar Market Outlook | INDIA SOLAR INSTALLATIONS GROWTH TRAJECTORY REMAINS STRONG PROJECTED ANNUAL ‘UTILITY-SCALE + COMMERCIAL’ PV INSTALLATIONS IN INDIA (GW) 58.6 50.6 44.9 43.7 42.4 37.9 31.7 12.8 2023 2024 2025E 2026E 2027E 2028E 2029E 2030E Source: BNEF June 2025 16
Slide 18: Solar Market Outlook – International Markets
Solar Market Outlook | CORE INTERNATIONAL MARKETS’ OUTLOOK IS ALSO PROMISING PROJECTED ANNUAL ‘UTILITY-SCALE + COMMERCIAL’ INSTALLATIONS IN EMEA (GW) 66.6 63.9 60.7 59.7 56.8 57.2 55.7 47.4 31.9 27.1 28.2 25.5 22.9 18.1 12 9.4 2023 2024 2025E 2026E 2027E 2028E 2029E 2030E Europe Middle East & Africa
Slide 19: Financial Highlights | Q4 FY 2026
Financial Highlights | Q4 FY 2026
Slide 20: Key Highlights for FY26
Financials | KEY HIGHLIGHTS FOR FY26 REVENUE (INR CR) GROSS PROFIT (INR CR) 20% YoY 24% YoY 7,548 793 6,302 638 3,035 313 FY24 FY25 FY26 FY24 FY25 FY26 Operational EBITDA (INR CR) ORDER INFLOW (INR CR) 53% YoY 43% YoY 444 10,062 7,051 291 6,023 -13 FY24 FY25 FY26 FY24 FY25 FY26 19
Slide 21: Key Highlights for Q4 FY26
Financials | KEY HIGHLIGHTS FOR Q4 FY26 REVENUE (INR CR) GROSS PROFIT (INR CR) 18% QoQ 7% QoQ 2,519 263 234 2,092 1,946 198 Q4FY25 Q3FY26 Q4FY26 Q4FY25 Q3FY26 Q4FY26 Operational EBITDA (INR CR) PAT (INR CR) 49% QoQ 158% YoY 142 158 156 105 55 2 Q4FY25 Q3FY26 Q4FY26 Q4FY25 Q3FY26 Q4FY26 20
Slide 22: Unexecuted Order Value, Order Inflow and Bid Pipeline
Financials | KEY HIGHLIGHTS FOR Q4 FY26 UNEXECUTED ORDER VALUE (UOV) UOV BY REGION 11,813 International 22% 9,096 India, 78% MAR 2025 CURRENT ORDER INFLOW YTD BID PIPELINE – FY27 International International 24% 12% INR 10,062 cr 31 GW India 76% India 88% 21
Slide 23: Order inflows exceed INR 10,000 cr; debt recedes
Financials ORDER INFLOWS EXCEED INR 10,000 CR; COMMISSIONED OVER 4.5 GW IN FY26 DEBT LEVELS RECEDE QoQ (INR CR) KEY DEVELOPMENTS IN 4Q FY26 1,215 • FY26 order inflows of ~INR 10,062 crore. Current UOV of 1,116 ~INR 11,813 crore is at highest level post COVID 738 • SWREL was declared L1 by Coal India
Slide 24: Consolidated Profit & Loss – Q4 FY26
Financials | CONSOLIDATED PROFIT & LOSS – Q4 FY26 INR Crore Q4FY26 Q4FY25 Q3FY26 FY2026 FY2025 REVENUE BY SEGMENT (INR CR) GROSS PROFIT BY SEGMENT (INR CR) Revenue from Operations 1,946 2,519 2,092 7,548 6,302 O&M O&M 15 International EPC 81 International EPC Gross Profit 234 263 198 793 638 224 64
Slide 25: Segment Outlook
Financials | SEGMENT OUTLOOK DOMESTIC - EPC Domestic EPC has been the key growth engine, and outlook remains strong 12,000 9,251 1. Robust order inflows has driven Domestic UOV as of Mar 26 to INR 9,251 cr 9,000 5,836 2. Gross margins anticipated at 8-10% depending on contract (turnkey/BOS) 6,000 5,
Slide 26: Consolidated Balance Sheet – March 2026
Financials | CONSOLIDATED BALANCE SHEET – March 2026 INR Crore Mar-26 Dec-25 Mar-25 Breakdown of Net Working Capital (INR Crore) Mar-26 Mar-25 Liabilities + Shareholders’ Equity Current Assets 2,976 2,941 Shareholders Equity 651 488 995 Inventories 2 3 Bank Borrowings 1,164 1,215 902 Receivables (in
Slide 27: Our CSR Activities
Corporate | SOCIAL RESPONSIBILITY As a responsible organization, we strive to ensure the well being of all our stakeholders, by placing sustainability at the heart of everything we do. OHSSAI Safety Award 2024 Our CSR Activities Inclusive Learning Environment Women Economic Empowerment OUR • Outreac
Slide 28: For further information, please contact
For further information, please contact: Company : Investor Relations Advisors : Sterling and Wilson Renewable Energy Limited Strategic Growth Advisors Private Limited CIN: L74999MH2017PLC292281 CIN: U74140MH2010PTC204285 Mr Sandeep Mathew Mr Jigar Kavaiya / Mr. Parin Narichania Head – Investor Rela
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