Sterling And Wilson Renewable Energy Reports ₹56.41 Crore Consolidated Loss In Q1 FY27

Mumbai: Sterling and Wilson Renewable Energy Ltd (SWRE) on Thursday, 16 July 2026, announced a consolidated net loss of ₹56.41 crore for the first quarter of the financial year 2026-27.0

Revenue Declines

Consolidated revenue from operations for Q1 FY27 stood at ₹299.85 crore. This is a decline from ₹413.92 crore reported in the quarter ended 30 June 2025 (Q1 FY26).

Quarter-on-Quarter Performance

Sequentially, the company's net loss narrowed from ₹143.68 crore in the quarter ended 31 March 2026 (Q4 FY26). Revenue also saw a decrease from ₹1,061.21 crore in Q4 FY26.

Standalone Results

On a standalone basis, SWRE posted a net loss of ₹46.54 crore for Q1 FY27. This is an improvement from a loss of ₹90.38 crore in Q1 FY26.

Standalone Revenue

Standalone revenue from operations for the quarter was ₹281.62 crore. This compares to ₹413.34 crore in Q1 FY26.

Indemnity Agreement Noted

The company highlighted an indemnity agreement dated 29 December 2021 with Shapoorji Pallonji and Company Private Limited and Khurshed Yazdi Daruvala. Under this agreement, the promoter selling shareholders will indemnify SWRE and its subsidiaries for net amounts related to liquidated damages, old receivables, and tax litigations if claims exceed ₹300 crore.

This means future crystallised claims beyond ₹300 crore will be recovered from the promoter selling shareholders, with no further impact on the company's results.

Subsidiary Exposure

SWRE has a net exposure of ₹706.61 crore as of 30 June 2026, related to investments in a wholly-owned subsidiary, loans, and other receivables. The company expressed confidence in the recoverability of this balance based on projected cash flows.