Sterling & Wilson Renewable Energy Ltd Share Price – NSE  / BSE

Infrastructure Developers & Operators, Small Cap

The Board of Sterling and Wilson Renewable Energy on 28 October 2024 has approved the allotment of 44,270 equity shares of Re. 1/- each, to the option grantees, upon exercise of the options vested with them under the SWREL ESOP Plan at the exercise price of Rs. 238/- per share.

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Net profit of Sterling & Wilson Renewable Energy reported to Rs 7.05 crore in the quarter ended September 2024 as against net loss of Rs 54.24 crore during the previous quarter ended September 2023. Sales rose 35.68% to Rs 1030.49 crore in the quarter ended September 2024 as against Rs 759.52 crore during the previous quarter ended September 2023.

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Sterling & Wilson Renewable Energy will hold a meeting of the Board of Directors of the Company on 14 October 2024.

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The company received an order for engineering, procurement and construction of a 200 MW AC / 250 MWp DC PV plant for a PV project in Gujarat, India.

Additionally, it secured a letter of award (LOA) for the EPC of a 50 MW AC / 65 MWp DC PV plant in Maharashtra.

Speaking on the order wins, Amit Jain, Global CEO, Sterling and Wilson Renewable Energy Group shared, “We are very happy to bag two more prestigious domestic solar projects from leading Private IPPs and these project wins showcase our strong positioning in a fast growing market.

Both orders have been received from repeat clients thereby reaffirming our robust execution credentials. In the current year, out of the 6 major domestic orders received, 5 are from our existing clients showing the confidence customers have reposed in us to be a part of their growth in the domestic renewable market.”

Sterling and Wilson Renewable Energy (SWREL) is a global pure-play, end-to-end renewable engineering, procurement, and construction (EPC) solutions provider. The company provides EPC services for utility-scale solar, floating solar and hybrid & energy storage solutions and has a total portfolio of over 18 GWp (including projects commissioned and under various stages of construction). SWREL also manages an operation and maintenance (O&M) portfolio of 7.6 GWp solar power projects, including for projects constructed by third parties.

The company’s consolidated net profit was at Rs 4.19 crore in Q1 FY25 as against with net loss of Rs 95.47 crore posted in Q1 FY24. Net sales was at Rs 915.06 crore in Q1 FY25, up 77.7% year on year.

The scrip declined 1.51% to currently trade at Rs 675 on the BSE.

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