Sterling And Wilson Renewable Energy Q2 Results: Company Swings To Profit

Sterling & Wilson Renewable Energy Ltd. swung into profit in the second quarter of financial year 2025. The solar EPC contractor posted a profit of Rs 8.57 crore for the quarter ended Sept. 30, 2024, compared to a loss of Rs 1.47 crore in the same quarter of the previous fiscal, according to a stock exchange notification on Monday.

Revenue increased 35.7% year-on-year to Rs 1,030.49 crore in the second quarter, compared to Rs 759.52 crore in the same period for the fiscal ended March 2024.

Operating income, or earnings before interest, taxes, depreciation, and amortisation rose to Rs 18.15 crore, while the Ebitda margin expanded to 1.8% from 0.2% in the same period the previous year.

In September, the company secured two solar Engineering, Procurement and Construction orders from private independent power producers worth Rs 512 crore. The orders included 250 MWp DC project in Gujarat and LOA for a 65 MWp DC project in Maharashtra.

The promoters of Sterling and Wilson Renewables Energy, Shapoorji Pallonji and Co. and Khurshed Yazdi Daruvala, in September offloaded 7.13% stake for Rs 1,040 crore through open market transactions.

Shares of Sterling & Wilson were fluctuating on Monday. The stock rose as much as 3.81% during the day to Rs 588 apiece on the NSE, to later erase gains and fall 3.58% to Rs 546.15 per share. The shares were trading 2.23% lower as of 3:10 p.m. This compares to a 0.61% advance in the benchmark Nifty 50.

The stock has risen 87.68% in the last 12 months and 24.22% year-to-date. Total traded volume so far in the day stood at 1.1 times its 30-day average. The relative strength index was at 35.

All five analysts tracking the company maintain a 'buy' rating, according to Bloomberg data. The average 12-month analysts' consensus price target implies an upside of 51.6%.