Sterling and Wilson Renewable Energy Limited Reports Robust Q1 FY25 Results

On July 18, 2024, Sterling and Wilson Renewable Energy Limited (SWREL), a leading renewable energy EPC company, announced impressive results for Q1 FY25 with a 78% YoY revenue growth. The company secured strong order inflows of ₹2,170 crore, highlighting its commitment to excellence and customer satisfaction.

After a strong revenue rebound in Q4 FY24, SWREL continues its growth with positive EBITDA, PBT, and PAT for the second consecutive quarter. After its QIP, the company has regained its position as India’s leading solar EPC. Financially, net debt improved to ₹97 crore in June 2024 from ₹116 crore in March 2024. SWREL also reported a solid gross margin of 11%, underscoring its market strength and focused growth.

Key Highlights

• Order/LOI inflow of ₹2,170 crore from 5 new projects, primarily from repeat customers with major expansion plans
• YoY revenue growth of 78%
• 2nd consecutive quarter of positive EBITDA, PBT, and PAT
• Healthy gross margin at 11%
• Reduced overheads compared to the previous year
• Improved net debt to ₹97 crore from ₹116 crore in March 2024
• Strengthened balance sheet in Q1 FY25, ready to capitalise on overall industry growth

Regarding the quarter results, Mr Amit Jain, Global CEO of Sterling and Wilson Renewable Energy Group, shared, “Our results reflect our strong business revival and robust ordering momentum. We are happy to be selected by some of our esteemed customers for some of their large projects, and our teams are well-geared to meet the massive growth opportunity ahead of us. With a robust project pipeline and strong balance sheet, we are confident of tapping the huge growth and are well-positioned to continue this upward trajectory and deliver enhanced value to all our stakeholders.”

He further added, “Sustainability is the future, and solar energy will spearhead this transformation towards a cleaner tomorrow. As the world increasingly embraces solar energy, our team’s dedication to delivering high-quality projects and exceeding customer expectations remains unwavering.”

About Sterling and Wilson Solar Ltd

Sterling and Wilson Solar Ltd is a top global provider of comprehensive solar engineering, procurement, and construction (EPC) solutions. The company also manages the operation and maintenance (O&M) of solar power projects and benefits from the strong backing of Reliance Industries.

On July 18, 2024, Sterling and Wilson Renewable Energy Ltd’s share price opened at ₹698.45, touching the day’s high of ₹717.80 as of 03:01 PM on the NSE.

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