Rs 7,200 crore order book: This civil construction company receives order worth Rs 1,130 crore from Gujarat Industries Power Company Limited

The stock is up by 25 per cent in 3 months and over 40 per cent in 1 year.

Sterling and Wilson Renewable Energy Limited (SWRE) (BSE Scrip Code: 542760; NSE Symbol: SWSOLAR), announced that it has received a Letter of Intent (LoI) from Gujarat Industries Power Company Limited (GIPCL), for its proposed 600 MW ac (equivalent to 750 MW dc) solar PV project at Khavda. The total bid value, including O&M for 3 years would be Rs 1,130 crore (including taxes & duties). The project comprises two blocks, with each block of 300 MW ac. The scope of work includes design, engineering, supply, construction, erection, testing, and commissioning along with a 3-year operation & maintenance contract.

Commenting on the occasion, Mr. Amit Jain, Global CEO of Sterling and Wilson Renewable Energy Group said, “We have started FY 2024 on a high note, with this prestigious order from GIPCL. With this, our total order booking in this fiscal jumps to over 1.6 GW p worth Rs 1,800 crore. The Indian solar EPC market has experienced significant growth. And amidst this boom, SWRE has emerged as one of the top players in the domestic market in terms of order booking. We continue to have a robust pipeline with high contribution from PSUs, and remain on track to achieve our domestic order inflow guidance.”

“This win demonstrates the trust and leadership of SWRE’s project management capabilities and expertise. I am particularly proud of my team for their untiring efforts in winning this order. I would also like to thank our partners for their continued support”, he further added.

Previously, the company received an EPC order for a value of approx. Rs 360 crore for a project in India and another order was Rs 826 crore for the design, construction and commissioning of 1 GW p project. Including all the orders to date, the company’s order book stands at over Rs 7,200 crore.

On Friday, shares of SWRE plunged 0.51 per cent to Rs 368.25 per share with an intraday high of Rs 380 and an intraday low of Rs 357.40. The stock is up by 25 per cent in 3 months and over 40 per cent in 1 year. The company have a market cap of Rs 6,986 crore and investors should keep an eye on this Mid-Cap stock.

Disclaimer: The article is for informational purposes only and not investment advice.