Sterling and Wilson Q2 FY27: revenue falls to INR 1,527 crore on international slowdown, PAT INR 17 crore, UOV INR 12,481 crore
Q2 FY27 revenue INR 1,527 crore vs 1,749 crore YoY; PAT INR 17 crore vs loss of 478 crore; gross margin 9.2%.
By ScoutQuest · · 1 min read
- Q2 FY27 Revenue
- INR 1,527 crore vs 1,749 crore YoY
- Q2 FY27 PAT
- INR 17 crore vs loss of 478 crore YoY
- Unexecuted Order Value
- INR 12,481 crore as of September 2026
- Period
- Q2 FY27
- Positioning
- The company describes itself as a leading solar EPC solutions provider in the world, a leading solar O&M player globally and the leading solar EPC player in India, with a 29.8 GWp EPC portfolio.
📉 Q2 FY27 revenue from operations was INR 1,527 crore against 1,749 crore in Q2 FY26 and 1,590 crore in Q1 FY27; EBITDA fell to INR 66 crore (4.3% margin) while PAT was INR 17 crore versus a loss of INR 478 crore a year earlier. Gross margin improved to 9.2% from 8.9%.
📉 The company attributes the revenue decline to International EPC, where H1 FY27 revenue was INR 165 crore against INR 929 crore in H1 FY26, as old projects near completion and new ones are yet to start. Domestic EPC revenue grew 12.6% to INR 2,768 crore in H1 FY27, and O&M revenue grew about 55% YoY to INR 99 crore in the quarter.
📋 Management states unexecuted order value of INR 12,481 crore as of September 2026 (domestic INR 6,943 crore, international INR 5,538 crore) provides revenue visibility, and says execution in some recently awarded international projects is likely to commence in H2 FY27. It describes the domestic slowdown in new order bookings as temporary and says the domestic EPC and BESS pipeline remains strong.
📉 On the balance sheet, bank borrowings fell to INR 920 crore from 1,164 crore due to scheduled repayments, net worth rose to INR 719 crore and net working capital stayed negative at INR (301) crore, though receivable days rose to 176 from 138.
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More numbers
- Revenue from operations, Q2 FY271,527 (INR Crore)
- Revenue from operations, Q2 FY261,749 (INR Crore)
- EBITDA, Q2 FY2766 (INR Crore)
- PAT, Q2 FY2717 (INR Crore)
- PAT, Q2 FY26(478) (INR Crore)
- Gross margin, Q2 FY279.2%
- Revenue from operations, FY 20267,548 (INR Crore)
- Unexecuted order value, September 2026INR 12,481 crore
- Order inflow, H1 FY27INR 3,626 crore
- Domestic EPC revenue, H1 FY27INR 2,768 crore
- International EPC revenue, H1 FY27INR 165 crore
- Bank borrowings, September 2026920 (INR Crore)
- Shareholder equity, September 2026719 (INR Crore)
- Net working capital, September 2026(301) (INR crore)
- Order bookINR 12,481 crore
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