Sterling & Wilson Renewable Energy extends rally, jumps 10% to 4-year high – here's why

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₹679.40 apiece. This was also the stock's highest level since September 2019. At present, the stock is just 9% away from its all-time high of ₹753.45 apiece, recorded in August 2019.

So far this month, it has rallied by 27%, while year-to-date, it has surged by 55%. The strong rally in recent sessions was attributed to the company's stellar performance in Q4 FY24 and for the full fiscal year of FY24. During the March quarter, the company showcased a robust financial recovery, posting a net profit of ₹1.40 crore due to increased income.

Also Read: Tejas Networks shares zoom over 15% on Q4 profit surge, hit new all-time high This marks a significant turnaround from the net loss of ₹421.11 crore reported in the January–March period of the previous fiscal year 2022–23, as outlined in the company's exchange filing. In Q4 FY24, the company's total income surged to ₹1,211.40 crore from ₹86.36 crore in the preceding year, indicating substantial growth. For the entire fiscal year 2023–24, the company reported a narrowing of its net loss to ₹210.79 crore from ₹1,174.96 crore in FY23.

On the EBITDA front, the company achieved a positive result of ₹54 crore in FY24, primarily driven by robust growth in the domestic EPC business. Total income rose to ₹3,120.79 crore in FY24 from ₹2,125.87 crore in the preceding fiscal year. Also Read: Reliance share price trades flat after Q4 result; should you buy, sell or hold? Moreover, in FY24, the company made significant progress in deleveraging its balance sheet, reducing total net debt to ₹116 crore from ₹1,966 crore in FY23.