Sterling & Wilson Solar incurred Rs 2.9 bn losses in FY21
POWER & RENEWABLE ENERGY

Sterling & Wilson Solar incurred Rs 2.9 bn losses in FY21

Shapoorji Pallonji Group Companies end-to-end solar engineering, procurement, and construction (EPC) solutions provider Sterling and Wilson Solar declared its financial results for the year ended March 31, 2021, reflecting record losses of Rs 2.9 billion.

The revenue of the company stood at Rs 13.64 billion in the fourth quarter (Q4) of the FY 2021, down 34% year-over-year (YoY) from Rs 20.60 billion in Q4 FY20 and up by 4% quarter-over-quarter (QoQ) from Rs 13.11 billion in Q3 2021.

The revenue from the operations for FY21 stood at Rs 50.8 billion, down by 8.8% compared to FY20, when the company earned Rs 55.75 billion. The company registered losses to the tune of Rs 3.44 billion in Q4 as compared to profits of Rs 224.5 million earned in Q3 FY21.

Sterling & Wilson had registered profits of Rs 1.28 billion in Q4 FY20. The overall loss for the company in FY 2021 stood at Rs 2.90 billion against a profit of Rs 3.04 billion in FY 2020.

The overall financial performance for FY21 was impacted due to one-off exceptional events in Q4 of FY21. In a BSE notification filed in May this year, the company said that it had to appoint alternate sub-contractors for the task. The Company claims to have robust order inflows of Rs 79.36 billion for FY21, up 72% compared to the restated order book of Rs 46.02 billion for FY20.

The company reduced its term debt from Rs 8.1 billion to Rs 740 million. The expenses of the company also declined from Rs 19.61 billion in FY20 to Rs 18.16 billion in FY 2021.

Image Source


Also read: Asia Pacific RE investments to be $1.3 trillion by 2030: Woodmac

Also read: Maharashtra electricity body rejects plea to offset renewable RPO

Shapoorji Pallonji Group Companies end-to-end solar engineering, procurement, and construction (EPC) solutions provider Sterling and Wilson Solar declared its financial results for the year ended March 31, 2021, reflecting record losses of Rs 2.9 billion. The revenue of the company stood at Rs 13.64 billion in the fourth quarter (Q4) of the FY 2021, down 34% year-over-year (YoY) from Rs 20.60 billion in Q4 FY20 and up by 4% quarter-over-quarter (QoQ) from Rs 13.11 billion in Q3 2021. The revenue from the operations for FY21 stood at Rs 50.8 billion, down by 8.8% compared to FY20, when the company earned Rs 55.75 billion. The company registered losses to the tune of Rs 3.44 billion in Q4 as compared to profits of Rs 224.5 million earned in Q3 FY21. Sterling & Wilson had registered profits of Rs 1.28 billion in Q4 FY20. The overall loss for the company in FY 2021 stood at Rs 2.90 billion against a profit of Rs 3.04 billion in FY 2020. The overall financial performance for FY21 was impacted due to one-off exceptional events in Q4 of FY21. In a BSE notification filed in May this year, the company said that it had to appoint alternate sub-contractors for the task. The Company claims to have robust order inflows of Rs 79.36 billion for FY21, up 72% compared to the restated order book of Rs 46.02 billion for FY20. The company reduced its term debt from Rs 8.1 billion to Rs 740 million. The expenses of the company also declined from Rs 19.61 billion in FY20 to Rs 18.16 billion in FY 2021. Image Source Also read: Asia Pacific RE investments to be $1.3 trillion by 2030: Woodmac Also read: Maharashtra electricity body rejects plea to offset renewable RPO

Next Story
Technology

Atlas Copco Unveils Innovation Centre in Pune for Smart Manufacturing

Atlas Copco Tools has inaugurated its first Smart Factory Innovation Centre in India, a cutting-edge facility in Pune designed to showcase advanced technologies powering Smart Integrated Assembly ecosystems. The centre will serve as a hub for businesses across automotive, aerospace, electronics, heavy machinery, and manufacturing sectors to explore automation and smart manufacturing solutions for zero-defect production.The Innovation Centre offers hands-on demonstrations of the latest torquing and dispensing technologies, highlighting software-driven solutions that optimize efficiency, enhance..

Next Story
Resources

Elite Elevators Unveils India’s First Fully Customizable Home Elevator

Elite Elevators, a leader in the premium home lift segment, has launched Elite Elevators Bespoke—India’s first fully customizable luxury home elevator. The launch event, held at the company’s Chennai headquarters, showcased how the new offering redefines residential mobility by integrating state-of-the-art technology with personalized design.Speaking on the launch, Vimal Babu, Founder and CEO, Elite Elevators, said, “At Elite Elevators, our mission has always been to revolutionize home mobility with world-class innovations. Through its enhanced customizable features, our Bespoke elevat..

Next Story
Real Estate

Under-Construction Homes Now Costlier Than Ready-to-Move Properties

Under-construction (UC) homes are now more expensive than ready-to-move (RTM) properties across major Indian metros, according to the latest insights from Magicbricks.In Delhi, UC homes are priced at Rs 25,921 per sq. ft., surpassing RTM properties at Rs 18,698 per sq. ft. Similarly, in Gurugram, UC homes cost Rs 17,185 per sq. ft., compared to Rs 14,617 per sq. ft. for RTM properties.Mumbai, India’s costliest real estate market, has also seen a sharp rise, with UC home prices soaring 33.4 per cent Y-o-Y in Q1 2025 to Rs 32,371 per sq. ft., while RTM properties stand at Rs 28,935 per sq. ft...

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?