Sterling Generators Eyes Strong Growth, Unveils New Identity

Mumbai-based Sterling generators, a strong player especially in the large capacity segment, is expecting a strong growth path on the back of changing markets and its strong partnerships.

Announcing its plans at a media interaction, the firm’s Chairman, Khurshed Daruvala, and CEO, Sanjay Jadhav, stressed on the company’s strong project management competencies and quality global partnerships that would help it power growth in the foreseeable future.

Earlier this year, the firm had announced a partnership with French engines major Moteurs Baudouin, which it claims has already led to significant order wins in India and abroad. In fact, the firm expects the share of exports to grow significantly as it chases a 40% growth rate for the next few years on the back of large export wins for higher capacity power solutions. The firm had existing partnerships with German major MTU and UK engine maker Perkins too.

Consolidated revenue is expected to cross Rs 500 crores in FY23, a 25% jump over the approx. Rs 400 crores it recorded in FY 22.

With a high quality manufacturing plant spread over 12 acres in Silvassa, the plant is Asia’s largest genset integrator while serving as a manufacturing base for power and control panels, motor control centres, APFC panels and balance of plant equipment. That has helped the company firm up plans to enter the EV charging business with high capacity DC fast chargers soon.

Chairman Daruvala highlighted the huge upcoming opportunities in the commercial power segment in India, including the data centres segment, where backup power is a significant part of the set up.

CEO Jadhav highlighted the growing demand from overseas, be it Europe after the Russia-Ukraine war, or other regions, as firms seek better contingency plans for unexpected energy situations.

With a plan to significantly outperform the Diesel Genset market that is expected to grow at a CAGR if 10.6% for the 2022-2030 period, Sterling generators also saw it fit to unveil a new corporate logo, that reflects its own and its customers green concerns more effectively. The firm, which uses 10% renewable energy for it’s requirements currently, expects to transition to 100% green energy in due course, and explore other ways to minimise its impact on the environment  in terms of water use and discharge etc.

Jadhav informed us that the firm is also going to be exploring opportunities in electrolyser manufacturing, as they expect the push for green hydrogen manufacturing to pick pace through the National Green Hydrogen Mission announced recently. Readers will recall another key player in the genset segment, Jakson Group has also announced a separate Jakson Green division, to focus on the Green Hydrogen opportunity.