XL Telecom secures order worth Rs 154 crore
XL Telecom & Energy Ltd has informed that the company has received an order valued at Rs 153.9 crore for the supply of export of Solar Panels to a large power utility firm in Europe.
XL Telecom has been focusing on the non-conventional energy sector, and recently on solar panels of higher capacity for niche grid connected segment. The company has been investing heavily for the last 18 months to get orders from Europe and US for its products.
The order will raise the company's total pending order book for solar panels to Rs 675 crore and it is scheduled to be completed before June 30, 2008.
The company has recently concluded its FCCB Issue and has raised about US$ 40 million for part funding its establishing of 120 MW Solar Cell Manufacturing Plant along with Expansion of Module Making capacity by another 40 MW fully automated plant in the SEZ with a total CAPEX of US$75 million or Rs 3 billions.
Recently, the company has reported earnings results for the quarter ended September 2007, in which it has reported a 45% increase in net profit at Rs 6.03 crore. Its sales increased by 24% to Rs 150.59 crore.