Mumbai, July 18 -- Revenue increased by 92.5% to Rs 1761.63 crore in the first quarter from Rs 915.06 crore recorded in the same period last year. This was due to higher execution pace in Domestic and International EPC projects, despite domestic execution challenges due to cross-border tension.

Total operating expenditure increased by 88.3% YoY to Rs 1676.17 crore in Q1 FY26.

Gross margins improved to 11.7% (gross profit at Rs 205 crore) in Q1 as compared to 11.1% (gross profit at Rs 102 crore) in Q1 FY25 aided by softening of key input costs. Gross margins across key segments - domestic EPC, international EPC and O&M witnessed improvement and have trended higher in Q1.

SWREL reported Q1 EBITDA at Rs 102 crore (5.8% EBITDA margin) as a...