The company recorded order inflow of 1.5 GW amounting to Rs 6,116 crores from 1st April 2020 until 31st December 2020 i.e. 133% of restated FY20 order inflow.
Sterling and Wilson Solar tumbled by nearly 10% on Monday’s trading session on Sensex after the company posted a 55% drop in consolidated net profit to Rs22.45cr for December 2020 (Q3FY21) quarter compared to a profit of Rs50.27cr a year ago same period.
However, consolidated total income increased to Rs1,347.64cr in the quarter under review, compared to Rs1,183.28cr in the corresponding period of the previous year.
For nine months quarter for FY21, the company’s revenue from operations stood at Rs 3,716 crores, EBITDA (excluding interest income) stood at Rs 43 crores and PAT stood at Rs 54 crores.
Also, order inflow of 1.5 GW amounting to Rs 6,116 crores from 1st April 2020 until 31st December 2020 i.e. 133% of restated FY20 order inflow (after exclusion of non-contracted projects). Gross Unexecuted Order Value as of date exceeds Rs 8,700 crores as of 31st December 2020.
Bikesh Ogra, Director and Global CEO, Sterling and Wilson Solar Limited said, “Despite challenging environment due to pandemic, we have seen healthy order inflows which have exceeded last year restated order inflows and are optimistic of getting more orders during this fiscal. With our continued success in Australia and South America, positive change in government policies in the USA towards solar power and has established a strong team in Europe, the potential for growth in the coming years continues to be robust.”
Ogra added that the company continue to remain focused on high margin O&M business in domestic and international markets for both in-house EPC and third-party clients as well.
“The opportunity for the solar power industry will continue to remain buoyant and grow at a rapid pace over the next 2-3 decades. Most of our clients are looking at significant capacity additions and we continue to remain confident of the opportunities going ahead,” Ogra said.
On Sensex, Sterling and Wilson have touched an intraday low of Rs230 per piece in early deals – resulting in so far a 9.6% drop in stock price.
At around 12.01 pm, Sterling and Wilson traded at Rs240.70 per piece down by Rs13.60 or 5.35% on Sensex.
Source: indiainfoline
