Sterling and Wilson Solar, a Shapoorji Pallonji group
company, is a global pure-play, end-to-end solar engineering, procurement and construction (EPC) solutions provider. Shapoorji Pallonji and Company Private Limited held 50.58 per cent stake in the company at the end of June quarter.
Sterling and Wilson Solar has so far won orders worth Rs 5,696 crore, more than half of its last year's order inflow. Order inflow of 1.0 GW amounting to Rs 3,633 crore from April 2020 until June 2020 i.e. 40 per cent of FY20 order inflow, the company said.
The management said the revenues for Q1FY21 got impacted as work at projects suffered disruptions, due to the world wide pandemic and resultant lockdown on account of Covid-19. However, construction activities have recently commenced at majority of project sites and the company is now operating at efficiencies of around 80-85 per cent, which would be gradually getting ramped up to 100 per cent in due course. The management is therefore confident that H2FY21 would transform the overall financial outlook for the year, leading to an anticipated revenue growth over the last financial year.
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