Sterling and Wilson Renewable Energy Limited (SWREL), a prominent player in the renewable energy space, has set a new record with an unexecuted order value exceeding ₹10,500 crore, according to its unaudited financial results for the quarter ending September 30, 2024. This milestone solidifies the company’s position as one of the leading renewable EPC firms in India.

The company reported a remarkable year-on-year revenue growth of 36%, with quarter-on-quarter growth of 13%, reflecting its consistent upward trajectory. In addition to this, Sterling and Wilson achieved profitability for the third consecutive quarter, maintaining stable gross margins of around 10%. New orders worth ₹2,050 crore were secured during the quarter, further adding to the robust pipeline.

Amit Jain, Global CEO of Sterling and Wilson Renewable Energy Limited, expressed optimism about the company’s future, emphasizing that their performance highlights continued business revival and the securing of key domestic orders. Jain remarked that the solar sector is pivotal to the transition toward a sustainable future, and SWREL is poised to lead this change.

A Strategic Leap Forward

Sterling and Wilson’s success is not just in revenue numbers but in the strategic orders it has secured. All the new orders came from the domestic market, including an impressive ₹823 crore order in the second quarter. These accomplishments underscore the company’s growing influence in India’s renewable energy landscape, where solar energy continues to gain traction.

The company’s financial foundation is further strengthened by positive earnings before interest, taxes, depreciation, and amortisation (EBITDA), profit before tax (PBT), and profit after tax (PAT), indicating a healthy financial trajectory. Investors and stakeholders are optimistic, given the company’s ability to continue delivering profits while maintaining a stable margin, a difficult task in the capital-intensive energy sector.

Expert Insight: The Importance of Resilience in Renewable Energy

Industry experts have noted that SWREL’s financial performance reflects the broader growth in the renewable energy sector. An energy market analyst, commented that “Sterling and Wilson’s success is a testament to the evolving demand for clean energy in India. Their growth has been fuelled by an increasing shift towards solar, supported by both government policies and private sector investment.”

The analyst highlighted the significance of maintaining stable gross margins, adding that “this stability signals the company’s operational efficiency and adaptability, critical in an industry where fluctuations in raw material costs can significantly impact profitability.”

The company’s order book, now at an all-time high, signals an exciting future, particularly as SWREL positions itself as a significant player in the global shift towards renewable energy solutions. Investors have been closely watching SWREL, with its stock price reflecting growing confidence.

  Amit Jain, BSE Limited, Mumbai, NSE India, Rakesh Kothari, Sterling and Wilson Renewable Energy Limited, SWREL