Home Quarter Results Sterling and Wilson Solar slumps 3.5% on quarterly results
Sterling and Wilson Solar slumps 3.5% on quarterly results

Sterling and Wilson Solar slumps 3.5% on quarterly results

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Despite challenging quarter, the company’s H1FY21 revenue at Rs2,405cr was driven by significant pickup in execution of projects in Q2FY21. It booked additional order inflows for adding capacity of 415 MWp worth Rs2,063cr in Q2FY21.

Sterling and Wilson Solar Limited (SWSL), one of the leading solar EPC and O&M solutions provider globally, announced its un-audited financial results for the quarter and half year ended September 30, 2020. The company’s revenue from operations for H1FY21 stood at Rs2,405cr driven by significant pickup in execution of projects in Q2FY21. EBITDA (excluding interest income) stood at Rs26cr and PAT stood at Rs32cr.

The company had order inflows of Rs5,696cr in H1FY21 which was 124% of the restated order book for FY20, despite the testing times on account of pandemic related disruptions across the world.

At around 9.55 am, Sterling and Wilson Solar Limited was trading at
Rs218.35 per equity share down Rs7.95 or 3.51% than previous closing of Rs226.30 per equity share on the BSE

Commenting on the results, Bikesh Ogra, Director and Global CEO, Sterling and Wilson Solar Limited said, “Execution has picked up significantly across all geographies and we have also commenced construction at the project sites which we had recently won. Our current operational efficiency is now more than 90% and are poised to reach pre-Covid levels in Q4FY21, subject to no lockdowns in geographies where projects are under execution.”

Post entering the major solar markets of Australia and Americas a few years ago, we have today established ourselves as one of the leading solar EPC players, executing projects for some of the leading global Independent Power Producers (IPPs). Our strategy to expand our operations in these markets continues to bear fruits, as in Q2FY21 we have booked additional order inflows for adding capacity of 415 MWp worth Rs2,063cr.”

Source: indiainfoline
Anand Gupta Editor - EQ Int'l Media Network
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