Sterling and Wilson Solar (SWSL) rose 3.47% to Rs 261 after the company said its subsidiary has signed an order worth about Rs 890 crore in the United States of America.
Sterling and Wilson Solar Solutions, Inc (SWSS), the US subsidiary of Sterling and Wilson Solar (SWSL) announced that it has signed an order worth $121.7 million (about Rs 890 crore) in the Pacific Northwest region of the United States of America.The order has been received from a leading sustainable energy company and is scheduled to be commissioned by Q4 FY 2022. SWSS will be managing the entire turnkey execution for the PV project.
The current order is from an existing customer in the US which shows that the company's global presence and local capabilities can play a significant role in becoming one of the leading solar EPC companies in the country.
SWSL's consolidated net profit slumped 55.4% to Rs 22.45 crore in Q3 FY21 from Rs 50.28 crore in Q3 FY20. Net sales during the quarter increased by 21.9% year-on-year (Y-o-Y) to Rs 1,311.73 crore in Q3 FY21.
SWSL, a Shapoorji Pallonji group company, is a global pure-play, end-to-end solar engineering, procurement and construction (EPC) solutions provider. The company provides EPC services primarily for utility scale solar power projects with a focus on project design and engineering and manages all aspects of project execution from conceptualizing to commissioning. It also provides operations and maintenance (O&M) services, including for projects constructed by third parties.
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