Sterling & Wilson solar wins order worth Rs 890 crore; stock gains almost 5 per cent
Sterling & Wilson Solar Solutions, the US subsidiary of Sterling & Wilson Solar Limited announced on Wednesday it has signed an order worth Rs 890 crore in the Pacific Northwest region of the United States of America (USA).
The above-mentioned order has been received from a leading sustainable energy company and is scheduled to be commissioned by Q4FY2022. The company will be managing the entire turn-key execution for the PV project.
Reacting to this, the company’s stock today increased by 4.98 per cent and made an intraday high of Rs 264.80 per share at 1.12 pm.
Besides, the company reported a net profit of Rs 22.45 crore in Q3FY21. It had reported a profit of Rs 50.27 crore in Q3FY20, which is a decrease of 55.34 per cent. The company reported net sales of Rs 1,311.73 crore for Q3FY21, an increase of 21.86 per cent as against the net sales of Rs 1,076.38 crore for Q3FY20.
Sterling & Wilson Solar Limited is an end-to-end solar engineering, procurement & construction (EPC) solutions provider. It provides EPC services for utility-scale, rooftop, and floating solar power projects.
According to BSE data, the stock traded at a P/E multiple of 23.85 and a price-to-book ratio of 7.02. The stock has a 52-week high and a 52-week low of Rs 327 and Rs 69.75, respectively.
At 1.30 pm today, the stock of the company was trading at Rs 261.20, up by 3.55 per cent on BSE.