Sterling And Wilson Renewable Energy Limited · NSE:SWSOLAR
Sterling And Wilson Renewable Energy — Q3 FY26 Earnings Presentation
26 slides from Sterling And Wilson Renewable Energy's earnings presentation, Jan 15, 2026
Slide 1: Exchange filing cover letter
January15, 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 Unaudited Standalone and Consolid
Slide 2: The future of solar energy is Bright
The future of solar energy is Bright STERLING AND WILSON RENEWABLE ENERGY LIMITED Investor Presentation – Q3 FY26 ONE OF THE LEADING SOLAR EPC AND O&M SOLUTIONS PROVIDERS IN THE WORLD 15 Jan 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 24 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 operations in Ranked 2nd largest 2013 Australia by O&M player in the acquired 40% stake in Sterling and Wilson SWREL closed five acquiring a world by Wood marquee project wins Completed our first turnkey 2016 controlling stake in Mackenzie Ren
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 24.4 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: 12.1 GW March 25 Net worth: INR 995 cr Global Manpower Strength: 2,883 Under-Construction: 14.0 GW March 25 Net D/E: 0.18x BBB+ / Stable (Credit Rating) * Over 40 projects under ex
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 20,469 MWp Tanzania Zambia Singapore Namibia Southeast Asia Latin America 323 MWp 575
Slide 16: Market Opportunity
Market Opportunity
Slide 17: Solar Market Outlook
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
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 | Q3 FY 2026
Financial Highlights | Q3 FY 2026
Slide 20: Financials
Financials | KEY HIGHLIGHTS FOR Q3 FY26 REVENUE (INR CR) GROSS PROFIT (INR CR) 14% YoY 15% YoY 2,092 198 1,837 1,749 172 156 Q3FY25 Q2FY26 Q3FY26 Q3FY25 Q2FY26 Q3FY26 Operational EBITDA (INR CR) PAT (INR CR) * 17% YoY 17 2 105 90 62 -478 Q3FY25 Q2FY26 Q3FY26 Q3FY25 Q2FY26 Q3FY26 * Exceptional item o
Slide 21: Financials
Financials | KEY HIGHLIGHTS FOR Q3 FY26 CURRENT UOV UOV BY REGION 10,413 International 9,096 25% India, 75% MAR 2025 CURRENT ORDER INFLOW YTD BID PIPELINE – Q4 FY26 International South Africa 22% 35% INR 6,929 cr 8.4 GW India 65% India 78% 20
Slide 22: Financials
Financials | BALANCE SHEET STABLE; ORDER INFLOW GUIDANCE REVISED HIGHER DEBT LEVELS (INR CR) KEY DEVELOPMENTS IN 3Q FY26 1,194 1,215 • FY26 order inflow is anticipated to be more than INR 11,000 cr (+60% YoY growth vs 15% guidance) 742 738 • SWREL signed a 5 year framework agreement with Adani Green
Slide 23: Financials
Financials | CONSOLIDATED PROFIT & LOSS – Q3 FY26 INR Crore Q3FY26 Q3FY25 Q2FY26 FY2025 REVENUE BY SEGMENT (INR CR) GROSS PROFIT BY SEGMENT (INR CR) Revenue from Operations 2,092 1,837 1,749 6,302 O&M O&M 63 8 International EPC Gross Profit 198 172 156 638 International EPC 27 292 Gross Margin % 9.5
Slide 24: Financials
Financials | CONSOLIDATED BALANCE SHEET – December 2025 INR Crore Dec-25 Mar-25 Breakdown of Net Working Capital (INR Crore) Dec-25 Mar-25 Liabilities + Shareholders’ Equity Current Assets 2,799 2,941 Shareholders Equity 488 995 Inventories 2 3 Bank Borrowings 1,215 902 Receivables (including unbill
Slide 25: 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 26: 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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