Sterling & Wilson Solar incurred Rs 2.9 bn losses in FY21

01 Jul 2021 CW Team

Shapoorji Pallonji Group Companies end-to-end solar engineering, procurement, and construction (EPC) solutions provider Sterling and Wilson Solar declared its financial results for the year ended March 31, 2021, reflecting record losses of Rs 2.9 billion.

The revenue of the company stood at Rs 13.64 billion in the fourth quarter (Q4) of the FY 2021, down 34% year-over-year (YoY) from Rs 20.60 billion in Q4 FY20 and up by 4% quarter-over-quarter (QoQ) from Rs 13.11 billion in Q3 2021.

The revenue from the operations for FY21 stood at Rs 50.8 billion, down by 8.8% compared to FY20, when the company earned Rs 55.75 billion. The company registered losses to the tune of Rs 3.44 billion in Q4 as compared to profits of Rs 224.5 million earned in Q3 FY21.

Sterling & Wilson had registered profits of Rs 1.28 billion in Q4 FY20. The overall loss for the company in FY 2021 stood at Rs 2.90 billion against a profit of Rs 3.04 billion in FY 2020.

The overall financial performance for FY21 was impacted due to one-off exceptional events in Q4 of FY21. In a BSE notification filed in May this year, the company said that it had to appoint alternate sub-contractors for the task. The Company claims to have robust order inflows of Rs 79.36 billion for FY21, up 72% compared to the restated order book of Rs 46.02 billion for FY20.

The company reduced its term debt from Rs 8.1 billion to Rs 740 million. The expenses of the company also declined from Rs 19.61 billion in FY20 to Rs 18.16 billion in FY 2021.

Image Source

Also read: Asia Pacific RE investments to be $1.3 trillion by 2030: Woodmac

Also read: Maharashtra electricity body rejects plea to offset renewable RPO

Equipment

12 Dec 2025

Schwing Stetter India Unveils New Innovations at Excon 2025

Schwing Stetter India unveiled more than 20 new machines at Excon 2025, marking one of its most significant showcases and introducing several India-first technologies to the construction equipment sector. The company launched the country’s first 56-metre boom pump designed and manufactured in India, the first fully electric truck mixer, the first CNG mixer variant and the first hybrid boom pump. Executives said the launch portfolio was engineered to support India’s move toward faster, greener and more vertically oriented infrastructure through advanced engineering, clean-energy solutions a..

SEPC Resolves Hindustan Copper Dispute, Wins Rs 725 Mn Order

Engineering, procurement and construction firm SEPC Ltd has recently settled a dispute with Hindustan Copper Ltd (HCL) and secured a mining infrastructure order valued at Rs 725 million from the state-owned company. SEPC informed the stock exchanges that it has executed a settlement deed with HCL, bringing closure to all inter-se claims and counterclaims arising from arbitration proceedings. As part of the settlement, SEPC will receive Rs 304.5 million as full and final payment, marking the resolution of all pending disputes between the two entities. The company also stated that Hindustan Co..

20% Ethanol Blending Cuts India’s CO2 Emissions by 73.6 Mn Tonnes

Union Road Transport and Highways Minister Nitin Gadkari recently said that India has reduced carbon dioxide emissions by 73.6 million metric tonnes due to the adoption of 20 per cent ethanol blending in petrol. He made the statement while replying to supplementary questions during the Question Hour in the Lok Sabha. Describing ethanol as a green fuel, the minister said it plays a key role in reducing pollution while also supporting higher incomes for farmers. He underlined that ethanol blending contributes both to environmental sustainability and rural economic growth. Nitin Gadkari also po..