Sterling and Wilson shares rally 8% on ₹1,470 crore order win

Sterling and Wilson's stock was among the top losers in the last financial year with a decline of 52 per cent.

Shares of Sterling and Wilson Renewable Energy rallied over 6 per cent on Tuesday after it bagged three new solar and hybrid projects worth ₹1,470 crore. 

 

Sterling and Wilson’s stock rose as much as 8.84 per cent during the day to ₹272.5 per share. The stock trimmed gains to trade 7.29 per cent higher at ₹268.6 apiece, compared to a 1.49 per cent advance in Nifty 50 as of 2:50 PM. 

 

Shares of the company have fallen 42 per cent this year, compared to a 2.03 per cent fall in the benchmark Nifty 50. Sterling and Wilson have a total market capitalisation of ₹6,236.63 crore. The company's stock was among the top losers in the last financial year with a decline of 52 per cent. 

 

 

The civil construction firm said that it has received two new domestic letters of awards from private independent power producers and was declared the lowest bidder in a 200 megawatt (Mw) AC solar project, according to an exchange filing on Tuesday. The cumulative order value of the three domestic projects combined is ₹1,470 crore, including taxes, operations and maintenance. 

 

"We have already established a market-leading presence in India in Solar and BESS, and our entry into Wind helps us provide holistic EPC solutions for Hybrid projects, according to Chandra Kishore Thakur, Global CEO, Sterling and Wilson Renewable Energy. "We continue to position ourselves as per our customer requirements, and market trajectory and these project wins are a reflection of the same." 

 

The company provides EPC services for utility-scale solar, floating solar and hybrid & energy storage solutions and has a total portfolio of over 21.7 giga watt peak (GWp). It also manages an operation and maintenance (O&M) portfolio of 8.8 GWp solar power projects, including projects constructed by third parties.

 

The company posted a consolidated net profit of ₹17.14 crore for the December quarter of FY25, mainly on the back of higher revenues. The company had incurred a net loss of ₹62.39 crore in the year-ago, period. Total income rose to ₹1,842.67 crore from ₹ 610.31 crore in the same period a year ago.