Highlights
- Company secured domestic EPC orders worth approximately Rs 3,550 crore during April 2026.
- Declared L1 bidder for 875 MW solar EPC project from Coal India in Rajasthan.
- Total FY26 EPC order inflows exceeded Rs 10,062 crore, surpassing initial targets.
Sterling and Wilson Renewable Energy (NSE:SWSOLAR) announced new domestic orders worth approximately Rs 3,550 crore, adding to its engineering, procurement, and construction (EPC) pipeline.
The company has been declared the lowest (L1) bidder for a turnkey EPC package involving development of an 875 MW (AC) grid-connected solar photovoltaic project in Bikaner, Rajasthan. The contract, awarded by Coal India Limited, has an estimated value of around Rs 3,490 crore, including operations and maintenance (O&M) and taxes.
In addition, the company secured a separate order for a 50 MW AC solar project in Maharashtra from a private independent power producer (IPP).
Annual Order Inflows Cross Rs 10,000 Crore
With the latest additions, total EPC order inflows for FY26 have crossed Rs 10,062 crore. The cumulative inflows exceed the company’s earlier targets for the financial year.
Management commentary indicated that the company closed FY26 with higher-than-expected order inflows, supported by domestic renewable energy demand.
Project Scope and Market Exposure
The Bikaner project represents a utility-scale solar installation, contributing to India’s expanding renewable capacity. The Maharashtra project adds to the company’s portfolio in the domestic independent power producer segment.
The company operates as a global EPC solutions provider, offering services across utility-scale solar, floating solar, hybrid systems, energy storage, and wind solutions. It has a portfolio exceeding 26.1 GWp across commissioned and under-construction projects, along with an O&M portfolio of 10.1 GWp.
Industry Context and Execution Outlook
India’s renewable energy sector continues to see project tendering activity, particularly in large-scale solar installations. EPC contractors typically rely on order inflows and execution timelines to drive revenue recognition.
The addition of large projects such as the Bikaner solar EPC contract may contribute to future revenue visibility, subject to execution schedules and project milestones.
Technical Summary
Sterling And Wilson Renewable Energy Limited is trading near ₹220.13, up around 13.49% on 20 April 2026, and has surged well above the 51-day SMA near ₹185.69, while the 14-day RSI near 72.22 points. Immediate support is placed in the ₹195.00–185.00 zone, while resistance is seen near the ₹240.00–260.00 range.
Source: TradingView
Key Risks
- Execution delays in large EPC projects may impact revenue recognition timelines.
- Dependence on government and PSU contracts exposes order pipeline to policy changes.
- Cost overruns or input price fluctuations may affect project margins.
- High competition in EPC bidding could pressure future order inflows and pricing.
Summary
Sterling and Wilson Renewable Energy (NSE:SWSOLAR) reported new domestic EPC orders worth around Rs 3,550 crore, including a major solar project in Rajasthan and a smaller Maharashtra project.
Total FY26 order inflows exceeded Rs 10,000 crore. The developments reflect continued activity in the renewable EPC segment, with execution timelines and cost management remaining key factors for future performance.
FAQs
- What is the value of the new orders received by the company?
The company secured new domestic EPC orders worth approximately Rs 3,550 crore during April 2026. - What is the largest project announced in this update?
The largest project is an 875 MW solar EPC contract in Rajasthan awarded by Coal India. - How much total order inflow did the company achieve in FY26?
Total EPC order inflows for FY26 exceeded Rs 10,062 crore, surpassing earlier targets.