Coronavirus To Affect Business In Near Term: Sterling And Wilson Solar
Production activities at few of critical suppliers’ end have stopped and is expected to commence by the month-end, says director.
Shapoorji Pallonji Group company Sterling and Wilson Solar Ltd. has said that the outbreak of coronavirus is expected to affect its business in the near term.
"We are constantly evaluating the current situation in China due to the outbreak of coronavirus which will impact our business in the near term," Bikesh Ogra, director and global CEO of the company said in a regulatory filing.
Currently, the production activities at some of its critical suppliers' end have stopped and is expected to commence by the month-end, Ogra said. As most material was expected to be shipped in February/March 2020 there is likely to be a significant impact, Ogra added.
We would continue to focus on faster execution once the situation in China stabilises. We shall continue to target increasing market share in Australia, the U.S. and Europe.Bikesh Ogra, Director and Global CEO, Sterling and Wilson Solar
Ogra further said that the company plans to diversify into newer markets in far East and additional countries in South America and Europe. "We shall focus on the expansion of rooftop business internationally and other large opportunities in India," Ogra said.
Sterling and Wilson Solar Ltd is a pure-play, end-to-end solar engineering, procurement and construction solutions provider.
Shares of the company were trading at Rs 280.95 a piece on BSE, down 6.33 percent from its previous close.