Sterling & Wilson Renewable Energy shares gain up to 8% on two order wins worth ₹985 crore

Shares of Sterling and Wilson Renewable Energy gained nearly 8% on Tuesday, September 22, after the company won two orders together worth over ₹985 crore.

The first order is a domestic one of 534.3 MWp in Rajasthan from a new customer, while the second is an international order in South Africa, comprising two battery energy storage system (BESS) projects each of 308 MWh, totaling to 616 MWh energy storage capacity, the company said in an exchange filing. The second order is from a repeat customer.

Sterling & Wilson said it has secured the domestic order from a leading IPP in India, while the international order is from a leading West Asia-based renewable energy projects developer.

The Rajasthan project involves balance of system (BOS) package and the South Africa one is for a BESS turnkey engineering, procurement and construction (EPC) wrap project. The latter is the second-largest utility scale BESS project that the company said it will undertake. Meanwhile, the Rajasthan project's capacity is estimated to reduce carbon-dioxide emissions by approximately 0.8 million upon commissioning, the filing stated.

Chandra Kishore Thakur, global CEO of Sterling & Wilson Renewables, said the orders reinforce the momentum in the company's business and the confidence customers place in its capabilities. "They also demonstrate the strength of our customer relationships, built on consistent project execution, domain expertise and the skilled manpower we have developed over the years," Thakur added.

Sterling and Wilson reported its first quarter earnings in July. Its net profit increased 69% to ₹54 crore from ₹32 crore in the previous fiscal.

However, its revenue and EBITDA declined and margin was flat.

Its revenue was down 9.7% at ₹1,590 crore from ₹1,761.6 crore last year and its earnings before interest taxes depreciation and amortization declined 8% to ₹79.6 crore from ₹86.4 crore while margin were flat at 5% from the year-ago period.

Shares of Sterling and Wilson Renewable Energy gained 7.7% to hit an intraday high of ₹186.66 apiece on Tuesday. This is its biggest single-day gain since June 12, 2026, when the stock had risen 7.8%

Shares of Sterling & Wilson are trading 4.1% higher on Monday at ₹180.35. The stock is down 6% in the last one month and 16% so far this year.

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