The shares of one of the leader in the energy and infrastructure sectors, specialising in the operation and maintenance (O&M) of solar power projects, jumps up to 10 percent upon declaring Q3 results and generating profit from loss YoY
Price action
With a market capitalization of Rs. 9,914.17 crores on Thursday, the shares of Sterling & Wilson Renewable Energy Limited is up by 10 percent making a high of Rs.467.05 per share compared to its previous closing price of Rs. 424.06 per share.
What Happened
Sterling & Wilson Renewable Energy Limited specializing in the operation and maintenance (O&M) of solar power projects have announced their Q3FY25 results
Its Revenue from operations grew by 215 percent YoY from Rs. 582.88 Crores in Q3FY24 to Rs. 1837.2 Crores in Q3FY25 and it grew by 78 percent QoQ from Rs. 1,030.49 Crores in Q2FY25 to Rs. 1,837.20 Crores in Q3FY25.
Its Net Profit rose YoY from loss of Rs. 62.39 Crores in Q3FY24 to a profit of Rs. 17.14 Crores in Q3FY25 and it rose by 100 percent QoQ from Rs. 8.57 Crores in Q2FY25 to Rs. 17.14 Crores in Q3FY25.
Segment Revenue
EPC Business segment the revenue 238 percent YoY from Rs. 525.37 Crores in Q3FY24 to Rs. 1,776.05 Crores in Q3FY25 and it grew by 83 percent QoQ from Rs. 970.09 Crores in Q2FY25 to Rs. 1,776.05 Crores in Q3FY25.
From Operation and maintenance service segment the revenue 5.49 percent YoY from Rs. 57.49 Crores in Q3FY24 to Rs. 60.65 Crores in Q3FY25 and it grew by 1.5 percent QoQ from Rs. 59.74 Crores in Q2FY25 to Rs. 60.65 Crores in Q3FY25.
Key orderbook Highlights
As of December 2024, the unexecuted order value stands at approximately Rs. 10,167 crore, marking a significant increase from Rs. 8,084 crore in March 2024. Additionally, the company has secured two new orders, valued at around Rs. 1,465 crore in Q3FY25.
Execution scale up in H2FY25
The company has re-aligned its scale-up to meet domestic customer needs, utilizing an Rs. 500 crores IREDA facility. It is negotiating open credit with key vendors and securing fresh NFB limits from new banks and financial institutions to enhance financial flexibility.
Written by Sridhar J
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