Sterling & Wilson Solar's revenue up by Rs 14.38 billion in Q2 FY22

18 Nov 2021 CW Team

Sterling & Wilson Solar witnessed a revenue hike of Rs 14.38 billion in the second quarter (Q2) of FY22, compared to Rs 11.95 billion in Q1. It registered a quarter-over-quarter (QoQ) growth of over 20%.

Earlier, it registered a net loss of Rs 2.84 billion in Q2 FY21, compared to a net loss of Rs 760 million in Q1 FY22. It also registered a negative net working capital of Rs 2.97 billion in September, compared to Rs 5.71 billion in June 2021.

The company told the media that the gross margins in Q2 FY22 were affected due to an unprecedented increased price of modules, commodities, freight and increased execution cost due to the Covid-19 pandemic.

The gross debt of the company increased to Rs 6.74 billion due to the advance and performance bank guarantee encashed by three customers amounting to Rs 4.04 billion.

Its order book as of November stood at Rs 67.30 billion, while the order book as of June was Rs 4.73 billion.

According to data, the company has already completed seven projects of 38 MW in the US. Two large projects in the US of 400 MW are in progress, which are expected to complete by Q1 FY23. The company has a target order booking for energy storage systems of 500 MWh of $150 million.

In October, Reliance New Energy Solar Limited (RNESL) signed an agreement with Shapoorji Pallonji for acquiring a 40% stake in Sterling and Wilson Solar through primary investment, secondary purchase and an open letter.

CEO of Sterling and Wilson Solar, Amit Jain, said that the company was impacted last year due to the price hike of modules, commodities and freight costs. Though these were the short-term factors, the long-term factor continues due to the global thrust on clean energy and capacity additions.

It received its first order of Rs 15 billion for its waste-to-energy business. It will process 23.2 tonnes of non-recyclable solid water per hour. The project will be commissioned in the next three years.

Image Source

Infrastructure Transport

12 Mar 2026

Kavach 4.0 Commissioned on Delhi–Mumbai and Delhi–Howrah

"Kavach version four has been commissioned on 1,452 route km, covering the high density Delhi–Mumbai and Delhi–Howrah corridors. The rollout included laying 8,570 km of optical fibre, installation of 1,100 telecom towers, deployment of trackside equipment over 6,776 RKm and establishment of 767 station data centres. Trackside implementation has been taken up on 24,427 RKm covering Golden Quadrilateral, Golden Diagonal and High Density Network sections. The programme aims to strengthen signalling and train protection on key routes.Kavach is an indigenously developed automatic train protecti..

Railways Advance Kalyan–Murbad Line And Mumbai Capacity Expansion

"Indian Railways is advancing multiple rail infrastructure projects in Maharashtra, including the sanctioned Kalyan–Murbad new line and sizable investments under the Mumbai Urban Transport Project and the Mumbai–Ahmedabad High Speed Rail project. The Kalyan–Murbad 28 km new line has been sanctioned at Rs 8.36 billion (bn) on a 50:50 cost-sharing basis with the Government of Maharashtra and has been declared a Special Railway Project for land acquisition; proposals covering 214 hectares are at various stages of acquisition. Budgetary outlay for projects falling fully or partly in Maharash..

Parliamentary Panel Flags Funding Gaps in Heavy Industries

"The Department-Related Parliamentary Standing Committee on Industry (Rajya Sabha) presented its 332nd report on the Demands for Grants 2026-27 of the Ministry of Heavy Industries (MHI). Figures converted from crore and lakh are expressed in million (mn). The Budget Estimates 2026-27 for the Ministry stand at Rs 79,399 mn against a projected requirement of Rs 94,843.2 mn, a shortfall of about 16 per cent, with revenue at Rs 79,370.8 mn and capital compressed to Rs 28.2 mn from Rs 5,020 mn.The committee flagged recurring BE-to-RE compression and declining revised estimate utilisation, and calle..