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
Consulting Services company Sterling and Wilson Renewable Energy announced consolidated Q4FY24 & FY24 results: Financial Highlights: Revenue growth of over 50% at Rs 3,035 crore. Strong rebound in Financials both sequentially and YoY. Company turns EBITDA positive at Rs 54 crore in FY24 aided by growing Domestic EPC business. Reported consolidated positive PBT and PAT in Q4FY24. Achieved gross margin in excess of 10% in FY24. Unexecuted order value has grown 64% in FY24 showcasing robust future growth prospect. Net debt reduction by over 90%. Balance sheet significantly strengthened in FY24 and well positioned to capture strong industry growth. Commenting on the results, Mr. Amit Jain, Global CEO, Sterling and Wilson Renewable Energy said, “We have overcome several challenges in FY24 and SWREL is in a much better place than earlier. The company delivered a robust financial performance which includes positive gross margins throughout the year and positive EBITDA for the year. Q4FY24 results were also profitable. Our future growth prospects look promising based on our strong unexecuted order book and business fundamentals continuing to improve. The company’s balance sheet has become more resilient through debt reduction, thereby solidifying our stakeholder’s confidence. The market opportunity for renewable EPC players like ours is continuing to grow significantly both in India and internationally, and we are well aligned to capture the growth. As SWREL comes back stronger, we remain confident of delivering an improved performance in terms of growth and revenues over the next few quarters.” “In addition, our prediction is that the growing awareness and resultant action towards opting for cleaner energy sources will lead to higher adoption of renewables, thereby accelerating business momentum. Renewables are essential for a better tomorrow and solar will be at the forefront of this march towards a sustainable future”, he further commented. Result PDF
Conference Call with Sterling and Wilson Renewable Energy Management and Analysts on Q4FY24 Performance and Outlook. Listen to the full earnings transcript.
Conference Call with Sterling and Wilson Renewable Energy Management and Analysts on Q3FY24 Performance and Outlook. Listen to the full earnings transcript.
Consulting Services company Sterling and Wilson Renewable Energy announced Q3FY24 results: Financial Position and Debt Repayment Through various financial measures such as the Qualified Institutional Placement (QIP), promoter indemnity payments, and customer settlements, SWRE has managed to repay all overdue debts. The successful QIP in December 2023 raised Rs 1,500 crore, demonstrating strong investor confidence with significant participation from domestic mutual funds and global FIIs. All overdue debts repaid; significant deleveraging achieved through QIP proceeds, promoter indemnity payments, and customer settlements. Positive EBITDA trend continues in Q3FY2024 Order Wins and Order Book Strength Sterling and Wilson Renewable Energy (SWRE) has secured five marquee project wins in Q3FY24, with an aggregate value exceeding Rs 2,400 crore. As of December 31, 2023, the company reported a robust gross unexecuted order value of approximately Rs 8,750 crore. Speaking on the quarter results, Amit Jain, Global CEO, Sterling and Wilson Renewable Energy, said, “During Q3FY24 we have witnessed notable strides in advancing our renewable energy portfolio with four unique projects from India as well as our first significant overseas order in three years. Post the successful QIP, our balance sheet has significantly strengthened, and fully geared to pursue the fast-growing solar EPC markets in India and abroad. Our unexecuted order book stands at Rs 8,750 crore currently. We are confident to sustain our growth momentum as a lot of our marquee customers are approaching us once again as our balance sheet issues are resolved and the company is nearly net debt free. We are well positioned to accelerate and continue to stay committed to environmental responsibility, coupled with ongoing investments in technology and infrastructure. Our upcoming quarters look very promising, and I want to thank our stakeholders, employees, and partners for their continued support and patience which has enabled us to create the foundation for an exciting future." Result PDF
Conference Call with Sterling and Wilson Renewable Energy Management and Analysts on Q2FY24 Performance and Outlook. Listen to the full earnings transcript.
Consulting Services company Sterling and Wilson Renewable Energy announced Q1FY24 results: Company achieved two new order wins in the domestic market Received two new contracts in India for Solar EPC from existing clients – Serentica, and Amplus for projects located in Bikaner, Rajasthan and Jhansi, UP respectively Contract signed with NTPC for 1,500 MW project where we were earlier declared L1 (announced in Q4FY23) Current unexecuted EPC order book of INR 4,903 crore with nearly 94% domestic EPC Reported consolidated gross margin of 11.3% in Q1FY24. Gross margins have trended back to positive territory after nine quarters. Achieved Standalone operational EBITDA breakeven in Q1FY24 Net debt of Rs 2,100 crore as of June 30, 2023 Result PDF