Sugs Lloyd wins Rs 56.57 crore order for 16 MW solar projects

Sugs Lloyd Limited has secured Letters of Award from North Bihar Power Distribution Company Limited to establish 16 MW of grid-connected rooftop solar projects. The order, valued at ₹56.57 crore excluding GST, was awarded under the PM Surya Ghar - Muft Bijli Yojana. The projects will be located in the Chapra Circle of NBPDCL and executed under the CAPEX plus RESCO mode in the Utility-Led Aggregation model.

The company was informed of the award via email on June 13, 2026. The commissioning period is set for nine months from the date of signing the Power Purchase Agreement (PPA), with the contract period extending for 10 years from the Commercial Operation Date. There are no related party transactions or interests from the promoter group associated with this order.

Project Details

The following table outlines the key particulars of the awarded contract:

Particulars	Details
Entity awarding the order	North Bihar Power Distribution Company Limited
Nature of order	Setting up 16 MW Grid-Connected Rooftop Solar Projects under PM Surya Ghar - Muft Bijli Yojana
Order value	₹56.57 crore (Excluding GST)
Execution timeline	9 months from PPA signing
Contract duration	10 years from Commercial Operation Date
Promoter group interest	No

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+0.26%	-6.19%	-15.48%	+3.29%	-7.83%	-7.83%

Sugs Lloyd Limited has released the transcript of its earnings conference call held on May 18, 2026. The call, conducted under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, featured discussions with analysts and investors regarding the company's performance for the half year and year ended March 31, 2026.

Financial Performance

Management reported a strong financial year, with revenue growing 70% to INR300 crores from INR176 crores in the previous year. Profit after tax (PAT) increased by 71% to INR28 crores, up from INR16 crores. The company successfully maintained its EBITDA and PAT margins despite the significant top-line growth. Earnings per share (EPS) also saw an increase of nearly 38%.

Order Book and Outlook

The company's order book stands at INR825 crores, comprising INR708 crores from power T&D, INR110 crores from solar, and INR8 crores from niche products. Management secured a major order worth INR640 crores (excluding GST) during the year. Looking ahead, the company has set a revenue target of INR1,000 crores by financial year 2028 and is actively bidding on tenders worth INR3,000 crores.

Operational Highlights

Sugs Lloyd is focusing on expanding its geographical presence beyond traditional markets like Odisha and Bihar into states such as Gujarat, Maharashtra, and Punjab. The company is also investing in product and technology leadership, with its Fault Passage Indicator (FPI) business gaining momentum. A new compact FPI is set to launch by Q2, and the company is pursuing high-value SCADA and ADMS projects.

Financial Health

Following its successful IPO, the company's debt-to-equity ratio has improved significantly. Management stated that credit lines are being expanded to around INR300-350 crores to support the INR1,000 crores revenue target. The current credit rating is BBB minus from CARE, with discussions underway for a potential upgrade.

The following table summarises the key details of the conference call: