Shares of Sterling and Wilson Renewable Energy rose over 9% today after the firm reported profit after 12 quarters of losses. Consolidated net profit came at Rs 1.5 crore in the March 2024 quarter against a loss of Rs 417 crore in the March 2023 quarter. Before this, the company has last reported a profit of Rs 22.69 crore in the December 2020 quarter. Sinmce then it has been reporting losses in every quarter.
Sterling and Wilson Renewable Energy stock gained 9.48% to Rs 614.25 against the previous close of Rs 561.05 on BSE. A total of 6.34 lakh shares of the firm changed hands amounting to a turnover of Rs 36.14 crore on BSE. Market cap of the civil construction firm rose to Rs 14,271 crore on BSE. It opened higher at Rs 590.95 today.
The share fell to a 52 week low of Rs 253.45 on October 19, 2023 an d rose to 52 week high of Rs 646.95 on February 8, 2024.
Revenue from operations rose to Rs 1,178 crore in the March quarter against Rs 88 crore revenue in the corresponding period of last year. Recurring overheads came at Rs 85 crore and non-recurring overheads aggregated to Rs 85 crore. Forex gains in thje March 2025 quarter stood at Rs 7 crore.
EBITDA for the March 2024 quarter came at Rs 59 crore, with an EBITDA margin of 5% for quarter ended on 31 March 2024.
The renewable EPC solutions provider reported a pre-tax profit of Rs 34 crore in Q4 FY24 as against a pre-tax loss of Rs 417 crore in Q4 FY23. The company’s bottom-line for Q4 FY24 was affected by a non-cash deferred tax asset charge of Rs 32.41 crore.
In terms of technicals, the relative strength index (RSI) of Sterling and Wilson stands at 60.3, signaling it's neither trading in the overbought nor in the oversold territory. The stock has a beta of 0.5, indicating low volatility in a year. Shares of Sterling and Wilson are trading higher than the 5 day, 20 day, 50 day, 100 day and 200 day moving averages.
Sterling and Wilson Renewable Energy Limited is an end-to-end renewable engineering, procurement, and construction (EPC) solutions provider. It provides EPC services primarily for utility-scale solar power projects with a focus on project design and engineering and manages all aspects of project execution from conceptualizing to commissioning.