Sterling and Wilson Solar posts revenue from operations at Rs5,575cr; order inflows up by 15% yoy in FY20
The company’s revenue from operations for FY20 stood at Rs5,575cr.
Sterling and Wilson Solar Limited (SWSL) Tuesday announced its maiden audited results for the financial year ended March 31, 2020.
The company’s revenue from operations for FY20 stood at Rs5,575cr, EBITDA (excluding interest income) stood at Rs383cr, and PAT stood at Rs304cr. The revenue for the quarter stood at Rs2,061cr, whereas EBITDA (excluding interest income) and PAT stood at Rs146cr and Rs129cr respectively.
Inter-Company Deposit amounting to Rs1,512cr has been repaid from date of listing till March 31,2020 which has been utilised for repayment of external term debt. Inter-Company Deposit (net) balance as at March 31, 2020 is Rs1,217cr.
The order inflows for FY20 increased by 15% yoy basis to Rs9,048cr despite the challenging fourth quarter of the financial year. The company’s focus and efforts in Australia over the last couple of years helped win three orders aggregating to 804 MWp.
SWSL is the solar EPC and O&M solutions provider with a project portfolio of 10.6 GWp (completed and under various stages of construction) and O&M portfolio of 7.5 GWp. The company’s operations were affected a bit initially during the lockdown period imposed to curtail spread of Covid-19 pandemic.
“With the resumption/ supply of Solar PV panels and other critical equipments, we resumed execution at our international projects in countries like US, Australia, Chile and Oman by following the directives of the respective Government authorities. Our O&M services largely remain unaffected.
The project execution in geographies like India, Kenya and Jordan were impacted due to logistical challenges during lockdown. Now there has been partial easing out of restriction in various countries leading to gradual increase in the pace of project execution. As a de-risking strategy, alternative sources of solar PV module suppliers are being developed which will reduce the dependency on any one country,” company said.
Source: indiainfoline
