Q2 2025 Sterling and Wilson Renewable Energy Ltd Earnings Call Transcript
Key Points
- Sterling and Wilson Renewable Energy Ltd (BOM:542760) reported a strong order inflow of INR 4,214 crores in the first half of the fiscal year, with a target to reach INR 8,000 crores by year-end.
- The company secured its largest unexecuted order value in history, standing at over INR 10,500 crores, indicating strong future revenue potential.
- A significant project win includes India's largest battery energy storage project, showcasing the company's capabilities in energy storage system engineering.
- The company achieved a credit rating upgrade to investment grade, which is expected to facilitate better execution and financial terms.
- Sterling and Wilson Renewable Energy Ltd (BOM:542760) reported a third consecutive quarter of positive EBITDA, PBT, and PAT, with a 36% year-on-year revenue growth in Q2 FY '25.
- The company's domestic gross margins were lower at 9% due to some projects not reaching the POCM threshold, impacting overall profitability.
- Execution in the first half was constrained by nonfund-based limits, although improvements are expected following the credit rating upgrade.
- The Nigeria project is still pending final order signing, with potential delays in financial closure impacting future revenue recognition.
- The company faces increased competitive intensity in the renewable energy market, which could pressure margins.
- There are ongoing challenges related to indemnity-backed legacy projects, with full crystallization expected over the next 24 to 36 months.
Ladies and gentlemen, good day, and welcome to the Sterling and Wilson Renewable Energy Limited Q2 FY '25 earnings conference call.
This conference call may contain forward-looking statements about the company, which are based on the beliefs, opinions and expectations of the company as on date of this call. These statements are not the guarantees of future performance and involve risks and uncertainties that are difficult to predict. (Operator Instructions) Please note that this conference is being recorded.
I now hand the conference over to Mr. Sandeep Thomas Mathew, Head Investor Relations for his opening remarks. Thank you, and over to you, sir.
Good morning, everyone. Welcome to our Q2 FY '25 earnings call. Along with me, I have Mr. Amit Jain, our Global CEO; and SGA, our Investor Relations Advisor. We will start the call with the key operational highlights for the quarter and industry outlook by Mr. Amit followed by the financial highlights, post which
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