On Monday, the shares of the leading solar EPC solution provider rose 2.5 percent to Rs 379.80 a share after the company received an order for the solar project.
At 12:26 p.m., Sterling and Wilson Renewable Energy Ltd shares were trading at Rs 375.95 a share on the National Stock Exchange, up Rs 5.85 or 1.58 percent, with a market capitalization of Rs 7,130 crores.
According to the Company’s exchange filing, Sterling & Wilson Renewable Energy Limited received an order for Rs 1,130 crore from Gujarat Industries Power Company Limited (GIPCL) for a 600 MWac solar project (equivalent to 750 MWdc) at Khavda.
The project comprises two blocks, with each block of 300 MWac. Scope of work includes design, engineering, supply, construction, erection, testing, and commissioning along with a 3-year operation & maintenance contract.
The stock has delivered a 25 percent return over the past six months and a 33 percent return over the past year.
Billionaire Mukesh Ambani’s Reliance Industries Ltd has acquired a 40 percent stake in Sterling and Wilson Renewable Energy Ltd (SWREL) for Rs 2,845 crores in the fiscal year 2021-2022.
The company’s revenue from operations declined year on year to Rs 514 crore in the June 2023 quarter, from Rs 1,206 crore the previous year. During the same period, the company’s net loss fell to Rs 95 crores in the June 2023 quarter, down from Rs 355 crores the previous year.
As per the current shareholding pattern, the promoters own 69.04 percent of the company, while domestic institutional investors own 5.58 percent and retail investors own 21.13 percent,
Sterling and Wilson Renewable Energy Ltd. is a global pioneer in end-to-end solar engineering, procurement, and construction (EPC) solutions, as well as solar power installation management and maintenance.
Written by Omkar Chitnis
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