Back-to-Back upper circuit: Shares of Reliance-backed renewable energy company rallied 5 per cent today; Q4 FY24 sales skyrocketed by 1,200 per cent; DIIs Increased Stake

The company's shares have delivered a multibagger return of around 156 per cent in the past six months only.

Sterling and Wilson Solar, is one of the leading end-to-end solar engineering, procurement, and construction (EPC) solutions providers globally. The company is also engaged in the operation and maintenance (O&M) of solar power projects. Today the company experienced a significant surge in its share price.

The company is backed by the strong parentage of Reliance Industries’ Reliance New Energy Limited, currently holding around 32.54 per cent of the company, while FIIs and DIIs hold 10.50 per cent and 10.64 per cent respectively. DIIs stake increased in Q4 FY24.

Share Performance:

Today the company’s stocks closed the day at Rs 714.55 per share representing a gain of 5 per cent today. The current market capitalisation of this company stands at Rs 16,664 crore. Shares of this Mid-Cap company have delivered impressive returns of around 37 per cent in the past month only and a multibagger return of around 143 per cent in just one year.

Also read Stock under Rs 50: Company’s net profit surged by 251 per cent in Q4 FY24; stock rallied 20 per cent and hit upper circuit, and trading at a 24 per cent discount!

Financial Performance:

As per the Quarterly Results in Q4 FY24, S W Solar reported revenues of Rs 1,178 crore, reflecting a growth of 1232 per cent YoY compared to the same quarter in the previous year, when the revenue stood at Rs 88.43 crore. The company posted an operating profit of Rs 29.35 crore for the quarter, in contrast to an operating loss of Rs 352 crore in the corresponding quarter of the previous year. Furthermore, the company reported a net profit of Rs 1.40 crore, compared to a net loss of Rs 421 crore in the same period last year.

Company Overview:

Sterling and Wilson Renewable Energy Limited is a global end-to-end renewable engineering, procurement, and construction (EPC) solutions provider. It offers EPC services primarily for utility-scale solar power projects, focusing on project design and engineering, and manages all aspects of project execution from conceptualization to commissioning. Moreover, it also provides operations and maintenance (O&M) services, including for projects constructed by third parties. Its segments include EPC and O&M. The EPC segment offers a complete range of EPC solutions and end-to-end services, boasting an EPC portfolio of about 14.7 GWp and operating across India, Africa, the Middle East, Australia, and Latin America. The O&M segment provides services to EPC projects and third-party customers. Primarily, its customers are independent power producers (IPPs), developers, and equity funds. It has a presence in 29 countries with operations in India, Southeast Asia, and others.

Investors must keep this stock on their radar.