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