This Solar Company Bags Major Orders for India’s Largest Battery Energy Storage System Project and Floating Solar Project, Stock Hits Upper Circuit on Friday!
The company’s shares have delivered an impressive return of over 85 per cent to its shareholders.
Sterling and Wilson Solar Ltd, a global leader in end-to-end solar engineering, procurement, and construction (EPC) solutions, and operations and maintenance (O&M) of solar power projects, backed by Reliance Industries, has announced a landmark achievement.
The company has secured a prestigious order for the Engineering, Design, Procurement, Erection, Testing, and Commissioning of a 500 x 2 (1,000 MWhr) Standalone Battery Energy Storage System (BESS) plant in Rajasthan, India. This GWhr-scale project, set to be completed by 2025, will be India’s largest BESS project and among the few of its scale globally. In addition, the company has secured a 20 MW Floating Solar project in Karnataka from the same client, marking its third floating solar project in India.
Currently, India’s total installed BESS capacity stands at approximately 219 MWhr as of March 2024. According to the National Electricity Plan (NEP) 2023 by the Central Electricity Authority (CEA), the country’s energy storage capacity is projected to reach 82.37 GWh by 2026, including 34.72 GWh from BESS. This major order positions Sterling and Wilson Solar Ltd at the forefront of India’s rapidly growing BESS market.
DSIJ's ‘Penny Pick’ service provides research-backed penny stock recommendations below Rs. 100. If this interests you, do download the service details here.
On Friday Sterling and Wilson Solar Ltd shares closed at around Rs 686.25 per share. The company’s current market capitalization stands at Rs 16,009 crore. The stock has delivered a return of over 85 per cent in the past 1 year.
As per the Quarterly Results, in Q1 FY25, Sterling and Wilson Solar Ltd recorded a revenue of Rs 915.06 crore. The operating profit for Q1 FY25 stood at Rs 24.68 crore. The net profit for Q1 FY25 was Rs 4.83 crore. Looking at the annual performance, the company generated a revenue of Rs 3035 crore in FY24. The operating loss for FY24 was Rs 23 crore with a net loss of Rs 211 crore.
Investors must keep this Small-Cap stock on their radar.
Disclaimer: The article is for informational purposes only and not investment advice.