International Conveyors acquires Rs 3.49 crore worth of equity shares in SW Solar

Sterling & Wilson Renewable Energy is an end-to-end solar EPC solutions provider, offering services from concept to commissioning with an asset-light business model. The company specializes in EPC services for utility-scale solar, floating solar, hybrid, and energy storage solutions. As of FY 2023-2024, Sterling & Wilson Renewable Energy reported a turnover of Rs 3,035.37 crore.

The company has acquired a total of 1,38,856 equity shares in Sterling and Wilson Renewable Energy. The acquisition, completed on 27 February 2025, was made through cash consideration. The acquisition is intended for investment purposes.

International Conveyors is engaged in the business of manufacturing and trading of conveyor belting, trading of ply conveyor belting, steel cord conveyor belting and fittings and accessories, and generation and sale of power.

The company's consolidated net profit rose 3.6% to Rs 20 crore on a 15.7% increase in net sales to Rs 26.09 crore in Q3 FY25 over Q3 FY24.

Shares of International Conveyors slipped 2.69% to Rs 66.90 on the BSE, while shares of Sterling and Wilson Renewable Energy declined by 1.48% to Rs 248.95 on the BSE.