Shares of Sterling and Wilson Renewable Energy Ltd fell 1% on 14th August after touching a day’s high of Rs 276.90, despite the firm announcing it had been declared the lowest bidder (L1) for a 245 MW (AC) grid-connected Solar PV Project in Gujarat.

The firm said the turnkey EPC package involves developing the project for a PSU developer.

Global CEO Chandra Kishore Thakur stated that the renewable market remains strong, with ordering activity increasing, which should benefit EPC players. He added that the company’s gross order inflows, including the latest win, have crossed Rs 2,000 crore this year.

In the Q1 results announced last month, the company’s consolidated net profit jumped to Rs 38.7 crore from Rs 4.8 crore in the same period the previous year. Revenue rose 92.5% to Rs 1,761.6 crore, driven by improved project execution despite domestic challenges stemming from cross-border tensions.

EBITDA climbed to Rs 85.4 crore from Rs 24.8 crore, with margins improving to 4.85% from 2.71%. Gross profit doubled to Rs 205 crore, while gross margins rose to 11.7% from 11.1%, helped by softer input costs.

At 11:09 AM, the shares of Sterling and Wilson were trading 1.11% lower at Rs 270.60 on NSE.

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