Conference Call with Sterling and Wilson Solar Management and Analysts on Q2FY22 Performance and Outlook. Listen to the full earnings transcript.
Highlights: Reliance Group to acquire 40% stake in SWSL via a combination of Primary Investment, Secondary Purchase and Open Offer. Cash infusion of Rs 1,100 crore into the Company. Inter-Corporate Deposits along with Interest accrued thereon fully repaid as of 30th September 2021 Signed first order of Rs. 1,500 crore for our Waste-to-Energy business Gross Unexecuted Order Value stood at Rs 6,730 crore Revenue in H1FY22 grew by 9.5% to Rs 2,633 crore. Our Waste-to-Energy business received its first order of 19.6 MW worth ~ INR 1,500 crore from a leading developer of energy assets in the UK and Europe which is to be executed over a period of next 3 years which will help to manage a consistent revenue stream year-on-year. Commenting on the results, Mr. Amit Jain, Global CEO, Sterling and Wilson Solar Limited said, “SWSL will immensely benefit from Reliance Group’s integrated new energy vision which will further strengthen our position as a leading EPC and O&M; player globally. SWSL, with its engineering talent, deep domain knowledge, global presence, and experience of executing some of the most complex projects globally, will be a strategic partner in Reliance Group’s solar value chain. The Solar industry continued to face headwinds over the last year due to an unprecedented increase in the prices of modules and commodities along with the freight cost. Though these factors have impacted the short term outlook, the long term outlook continues to remain robust due to global thrust on clean energy and significant Solar capacity additions planned by IPPs globally”. Result PDF