Reliance Group stock which is one of the leading end-to-end solar engineering, procurement, and construction (EPC) solutions providers globally jumped 3 percent in the day’s trade upon receiving a new work order worth Rs. 550+ Crores.
Price Action
With a market capitalization of Rs. 15,990 Crores, the shares of Sterling and Wilson Renewable Energy Limited were trading at Rs. 684.05 per equity share, up 1.6 percent from its previous day’s close price of Rs. 673.30.
What Happened
Sterling and Wilson Renewable Energy Limited has received a new work order from a leading private renewable IPP in India for a consideration of Rs. 550+ Crores taking the total order inflows this quarter to around Rs. 900 crore, which are in addition to ~Rs. 2,170 crore order inflow announced in Q1FY25.
The said work order is for the Engineering, Design, Testing & Commissioning of a 400 MW AC / 633 MW DC PV plant along with Supply & Works for a 33/220 kV switchyard to be built at the plant for a PV project in Rajasthan, India.
Management Talk
Speaking on the order win, Mr. Amit Jain, Global CEO, of Sterling and Wilson Renewable Energy Group, said, “We are thrilled to receive another large domestic order from a leading private renewable IPP in India. The Indian market continues to grow rapidly and as an established home-grown EPC player we are geared to target this high growth.”
“With this order win, SWREL has now achieved around Rs. 900 Crores of domestic order inflows in the second quarter of FY25. This is in addition to the order inflow of ~Rs. 2,170 Crores seen in the first quarter, and we remain confident of further augmenting this order momentum due to a strong domestic bid pipeline being in place”, he further added.
About the Company
Sterling and Wilson Renewable Energy Limited is one of the leading end-to-end solar engineering, procurement, and construction (EPC) solutions providers globally and is also engaged in the operation and maintenance (O&M) of solar power projects.
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Financials
Its Revenue from operations grew by 78 percent from Rs. 514.96 Crores in Q1FY24 to Rs. 915.06 Crores in Q1FY25, accompanied by a loss of Rs. 95.32 Crores to a profit of Rs. 4.83 Crores.
Written by: Bharath K.S
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