From its low of April 2020 At $69.75 per share, the stock is currently trading 705% above that level.
The company on Sunday released its financial performance for the March-ending quarter and full financial year FY24.
Company sees strong improvement in financial performance with net profit in March quarter (Q4FY24) Rs 1.40 crore due to increase in income.
This is the opposite of net loss According to the company’s exchange filing, Rs 421.11 crore was reported in the January-March period of the last financial year 2022-23.
Company’s total income increased during Q4 FY24 to Rs 1,211.40 crore Last year Rs 86.36 crore.
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The company reported a narrowing in its net loss for the full fiscal year 2014. to Rs 210.79 crore 1,174.96 crore in FY23. On EBITDA front, it turned positive 54 crore in FY20, driven by strong growth in domestic EPC business.
income increased From Rs 3,120.79 crore in FY24 In the last financial year it was Rs 2,125.87 crore.
In FY24, the company made significant progress in deleveraging its balance sheet, with total net debt reduced to Rs 116 crore 1,966 crore in FY23. Additionally, according to the company, there are no upcoming debt payments until Q3FY25.
“With significant balance sheet strength through FY24 and net debt reduction of over 90%, the strong upside momentum in the financial position sequentially and year-on-year positions the company to secure a greater share of industry growth. The company achieved a substantial growth of 64% in its unexecuted orders value in FY2024, reiterating the confidence of its customers and the market,” the company said.
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According to the company’s investor presentation, the value of the undisclosed order was As compared to Rs 8,084 crore by March 2024 4,913 crore in March 2023. In FY24, the company received total orders/LOIs for 13 projects. 6,023 crore, which shows growth from new order inflow 4,387 crore in FY23.
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Sterling & Wilson Renewable Energy is a leading global provider of end-to-end solar engineering, procurement and construction (EPC) solutions, specializing in utility-scale solar energy projects. The company manages all phases of project execution from design and engineering to commissioning.
Additionally, it provides operations and maintenance (O&M) services, extending its expertise to projects built by third parties. Notably, its strategic partnership with Reliance Industries, which acquired a 40% stake during FY 2021-22, positions it well to advance Reliance’s renewable energy vision.
Leveraging its engineering prowess, extensive domain knowledge, global footprint and track record of executing complex projects across the globe, Sterling & Wilson Renewable Energy plays a key role in Reliance’s solar value chain.
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As global solar installed capacity is projected to reach 2.2 terawatts by 2030, the solar O&M sector is expected to grow rapidly, with Wood Mackenzie estimating a market opportunity of US$15 billion by 2030, based on 2020 data. will almost quadruple.
India’s solar power landscape has also seen significant growth, growing from 3.7 GW in 2015 to about 81 GW in FY2024. This boom has led to the emergence of a niche domestic solar O&M market, which is presenting attractive opportunities as more solar plants become stable and require ongoing maintenance.
As the industry continues to see an uptick in re-tendering of O&M contracts, Sterling & Wilson Renewable Energy is positioned to take advantage of this growing market supported by its global presence, strong customer and lender relationships and established track record in project execution. is ready.
Disclaimer: We advise investors to check with certified experts before taking any investment decision.
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Published: April 22, 2024, 01:00 PM IST