Conference Call with Sterling and Wilson Renewable Energy Management and Analysts on Q4FY25 & Full Year Performance and Outlook. Listen to the full earnings transcript.
Construction & Engineering company Sterling and Wilson Renewable Energy announced Q4FY25 & FY25 results Q4FY25 Financial Highlights: Highest ever quarterly revenue of Rs 2,519 crore since its listing Gross margin of Rs 263 crore in Q4FY25 and Rs 638 crore in FY25 Robust overall order inflows with Domestic inflows showing an impressive 21% YoY rise Operational EBIDTA for Q4FY25 was Rs 158 crore and Rs 291 crore for FY25 PAT ended at Rs 92.18 crore compared to Rs 88.89 crore during Q4FY24 FY25 Financial Highlights: FY25 revenue of Rs 6,302 crore, more than 2 times of FY24 revenue of Rs 3,035 crore in FY24 Unexecuted order value is ~Rs 9,096 crore as of Mar 31, 2025, vis-à-vis ~Rs 8,084 crore during FY24 CK Thakur, Global CEO, Sterling and Wilson Renewable Energy Group shared, "We are poised for a significant growth across markets considering the commendable pipeline of projects both in the domestic and international regions. The steady flow of high-value domestic orders in the recent past reinforces our strong market position and growth momentum. Our onward journey is very promising, marked by high quarterly revenue, improved cash flow and a healthy balance sheet, all of which positions us for sustained growth. With our recent foray into Wind EPC and continued focus on hybrid energy projects, we are optimistic about expanding our renewable portfolio and delivering integrated clean energy solutions." Result PDF
Conference Call with Sterling and Wilson Renewable Energy Management and Analysts on Q3FY25 Performance and Outlook. Listen to the full earnings transcript.
Construction & Engineering company Sterling and Wilson Renewable Energy announced 9MFY25 & Q3FY25 results Consolidated revenues up 215% YoY and 78% QoQ to Rs 1,837 crore. Operational EBIDTA has been positive for three consecutive quarters and grown to ~Rs 90 crore in Q3FY25. PBT has more than doubled sequentially to Rs 41 crore. Order inflow continues to remain strong amounting to Rs 5,679 crore in 9MFY25. Net debt declines sequentially by ~Rs 150 crore. CK Thakur, CEO - Asia, Africa, LATAM & Europe, Sterling and Wilson Renewable Energy, said: “Our performance this quarter brings forth the resilience of our business model. We are significantly scaling up operations and focused on improving profitability. With a steady flow of high-value domestic orders in this quarter and a robust project pipeline across both domestic and international markets, we are poised to capitalize on emerging opportunities. We continue to drive growth, enhance operational excellence and deliver unparalleled value to our stakeholders.” Result PDF
Conference Call with Sterling and Wilson Renewable Energy Management and Analysts on Q2FY25 Performance and Outlook. Listen to the full earnings transcript.
Construction & Engineering company Sterling and Wilson Renewable Energy announced Q2FY25 results: Financial Highlights: Revenue has grown 36% YoY in Q2FY25 aided by higher execution in Domestic EPC projects. Sequentially, top-line grew by 13%. Gross margins came in at 10.1% in Q2FY25 compared to FY24 gross margin of 10.3%. With legacy international projects behind us, gross margins are likely to continue to trend at ~10%. O&M; gross margins at 28% are higher than average due to lower expenditure incurred in Q2FY25. However, we anticipate these margins to normalize due to post monsoon maintenance in H2FY25. Recurring O&M; margin are trending towards more steady-state margins (~25%). Reported Q2FY25 EBITDA at Rs 51 crore (4.9% EBITDA margin). Q2FY25 PAT of Rs 9 crore while significantly higher (both YoY and QoQ) remains impacted by a non-cash deferred tax asset charge Gross Borrowings have increased on account of a new facility availed from IREDA (Rs 500 crore). Indemnity proceeds of ~Rs 109 crore are anticipated to be used to pay off H2FY25 debt repayments / prepay existing loans. Net working capital continues to remain negative at Rs 543 crore as at September 2024 compared to negative working capital of Rs 585 crore as at March 2024. Unexecuted order value at ~Rs 10,549 crore as of September 2024 compared to ~Rs 8,084 crore as of Mar 2024. Company has received new orders in six domestic projects worth ~Rs 2,044 crore post Q1FY25. Received order for EPC of the largest BESS project (1 GWh) in India. Received turnkey LOA for 312 MWdc project in Rajasthan. P&L; of the company continues to improve. Consol revenues up ~36% YoY in Q2FY25. Gross margins at ~10%. Third consecutive quarter of positive EBITDA, PBT and PAT at a consolidated level. Long-term Ratings upgraded by Acuite to BBB- (investment grade) from BB+ on Oct 14, 2024. Gross Borrowings have increased due to a new loan facility availed from IREDA. Total net debt of ~Rs 326 crore as of Sep 2024, compared to net debt of ~Rs 116 crore in Mar 2024. Indemnity proceeds to largely take care of debt repayments due in H2FY25. Execution scale up in H2FY25. Utilization of new Rs 500 crore IREDA facility. Negotiating open credit from key vendors. Fresh sanctions of NFB limits from new banks / FIs. Other Highlights: Received order of 633 MW DC in Q2FY25. Received LOI for largest BESS plant in India. Received LOI for a PV project in Karnataka. Received order of 250 MW DC in Q2FY25. Received order of 900 MW DC in Q1FY25. Received a turnkey solar PV order from AMEA Power in South Africa for a ~140 MW DC project in Q1FY25. Received a turnkey package for a 80 MW AC project from Energy Group in South Africa in Q1FY25. Sterling and Wilson Solar Solutions, Inc (SWSS), the US step down subsidiary signed a MOU with the Government of the Federal Republic of Nigeria, along with its consortium partner Sun Africa in September 2022. MOU is for the development, design, construction, and commissioning of solar PV power plants aggregating 961 MWp at five different locations in Nigeria along with battery energy storage systems (BESS) with total installed capacity of 455 MWh. Final terms have been negotiated. Procedural steps are in progress; Awaiting final contract signing Result PDF
Conference Call with Sterling and Wilson Renewable Energy Management and Analysts on Q1FY25 Performance and Outlook. Listen to the full earnings transcript.
Consulting services company Sterling and Wilson Renewable Energy announced Q1FY25 results: Order / LOI inflow of Rs 2,170 crore from 5 new projects mainly from repeat customers with huge expansion plans YOY revenue growth of 78% 2nd consecutive quarter of positive EBIDTA, PBT and PAT Healthy gross margin at 11% Reduction in overheads from the previous year Net debt continues to improve at Rs 97 crore vis-à-vis Rs 116 crore in March 2024 Balance sheet continues to strengthen in Q1FY25 and poised to capitalize on the overall industry growth Speaking on the quarter results, Amit Jain, Global CEO, 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.” 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 highquality projects and exceeding customer expectations remains unwavering”, he added. Result PDF