Sterling and Wilson shares surge 9% after impressive Q4 results

Unexecuted order value has also grown 64% in FY24 showcasing robust future growth prospects as the value stands at Rs 8,084 crore as of Mar 2024 compared to Rs 4,913 crore in Mar 2023.

SWERL received new orders/LOI in two projects worth Rs 488 crore during the quarter including being declared L1 for a second floating solar module project in the country and its second international order in Q4 from Enfinity for a BOS project in Italy amounting to EUR 20 mn.

The total net debt of the firm as of March 2024 stands reduced significantly at Rs 116 crore, compared to net debt of Rs 1,966 crore in FY23 and there are no upcoming debt repayments till Q3FY25.

The company’s balance sheet significantly strengthened in FY24 and is now well-positioned to capture strong industry growth.

“We have overcome several challenges in FY24 and SWREL is in a much better place than earlier. The company delivered a robust financial performance which includes positive gross margins throughout the year and positive EBITDA for the year. Q4 results were also profitable. Our future growth prospects look promising based on our strong unexecuted order book and business fundamentals continuing to improve,” said Amit Jain, Global CEO of Sterling and Wilson Renewable Energy Limited.

Stating that the company’s balance sheet has become more resilient through debt reduction, he said the market opportunity for renewable EPC players is continuing to grow significantly both in India and internationally.

“And we are well aligned to capture the growth. As SWREL comes back stronger, we remain confident of delivering an improved performance in terms of growth and revenues over the next few quarters,” Jain said.

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