XL Telecom bags Rs66 cr order from European firm

XL Telecom bags Rs66 cr order from European firm


Mumbai: XL Telecom today said it has bagged a Rs65.8 crore order from a European company for supplying 4 mw solar panels.

The company informed the Bombay Stock Exchange that the order has been secured from a power utility company in Europe and would be executed by 30 June next year.

The present export order book for Solar Panels, including this order, stands at Rs263.5 crore, the company said, adding that it has executed 1 mw solar panel orders valued over Rs16 crore in the quarter ending 30 September.

Recently, the company raised about $4 million by way of Foreign Currency Convertibility Bonds (FCCBs) for part funding its 120 mw solar cell manufacturing plant.

XL has been focusing on non-conventional energy sector since 1994 and has refocused on the solar panel export market.

Shares of XL were trading at Rs339.90, down 0.82%, in the afternoon trade on BSE.