Sterling & Wilson Renewable Energy Ltd

Sterling & Wils. Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Sterling & Wilson Renewable Energy Ltd

₹ 681 5.00%
03 May - close price
sterlingandwilsonsolar.com BSE: 542760 NSE : SWSOLAR
About

Sterling and Wilson Solar Ltd is one of the leading end-to-end solar engineering, procurement and construction (EPC) solutions provider globally and is also engaged in the operation and maintenance (O&M) of solar power projects. The company is backed by strong parentage of the Reliance Industries

Key Points

Leadership[1]
a) Leading Solar EPC solutions provider in
the world.
b) Leading Solar O&M player globally
c) No. 1 Solar EPC player in Australia
EPC Portfolio : 17.5 GWp
O&M Portfolio : 6.4 GWp
d) EPC and O&M of Abu Dhabi 1,177 MWp One of the world’s largest single-location PV plant
e) EPC and O&M of NTPC 3GW+ in 2 projects
Executing one of India’s largest PV plants at
Khavda, Gujarat.
f) Awarded two projects of 1,570 MWp and 1,500 MWp in FY23.

Website BSE NSE
  • Market Cap ₹ 15,878 Cr.
  • Current Price ₹ 681
  • High / Low ₹ 699 / 253
  • Stock P/E
  • Book Value ₹ 41.6
  • Dividend Yield 0.00 %
  • ROCE 2.83 %
  • ROE -56.7 %
  • Face Value ₹ 1.00
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Pros

  • Company has reduced debt.

Cons

  • Stock is trading at 16.4 times its book value
  • Company has low interest coverage ratio.
  • The company has delivered a poor sales growth of -18.1% over past five years.
  • Company has a low return on equity of -152% over last 3 years.
  • Promoters have pledged 37.2% of their holding.
  • Earnings include an other income of Rs.85.4 Cr.
  • Company's cost of borrowing seems high
  • Promoter holding has decreased over last 3 years: -16.4%

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Engineering Industry: Engineering - Turnkey Services

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
1,364.54 1,194.63 1,438.42 1,494.86 1,071.03 1,206.93 312.69 406.96 88.43 514.96 759.52 582.88 1,178.01
1,788.85 1,298.34 1,732.87 1,885.94 1,195.27 1,550.80 682.88 470.77 440.55 552.17 758.05 599.06 1,148.66
Operating Profit -424.31 -103.71 -294.45 -391.08 -124.24 -343.87 -370.19 -63.81 -352.12 -37.21 1.47 -16.18 29.35
OPM % -31.10% -8.68% -20.47% -26.16% -11.60% -28.49% -118.39% -15.68% -398.19% -7.23% 0.19% -2.78% 2.49%
51.79 32.57 31.32 7.37 23.44 4.13 98.11 10.69 -2.07 7.39 17.21 27.43 33.39
Interest 22.93 12.52 17.11 28.25 18.83 14.66 32.84 37.91 59.50 62.09 64.34 67.55 24.54
Depreciation 5.01 3.08 3.28 4.49 3.82 3.46 3.30 4.11 3.83 3.42 4.29 4.49 4.46
Profit before tax -400.46 -86.74 -283.52 -416.45 -123.45 -357.86 -308.22 -95.14 -417.52 -95.33 -49.95 -60.79 33.74
Tax % 13.90% 12.36% -0.29% -2.96% -2.56% 0.52% 3.09% -4.21% -0.86% 0.01% -9.13% -2.63% 95.85%
-344.80 -76.02 -284.35 -428.78 -126.61 -355.99 -298.71 -99.15 -421.11 -95.32 -54.51 -62.39 1.40
EPS in Rs -21.63 -4.75 -17.75 -22.27 -6.66 -18.66 -15.65 -5.34 -22.01 -5.03 -2.86 -2.73 0.06
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
6,872 8,240 5,575 5,081 5,199 2,015 3,035
6,330 7,582 5,246 5,458 6,102 3,139 3,058
Operating Profit 542 658 329 -377 -903 -1,124 -23
OPM % 8% 8% 6% -7% -17% -56% -1%
13 209 303 158 95 111 85
Interest 23 100 220 105 87 151 219
Depreciation 3 8 14 17 15 15 17
Profit before tax 529 759 398 -340 -910 -1,179 -172
Tax % 15% 16% 24% 15% -1% 0% -22%
451 638 304 -290 -916 -1,175 -211
EPS in Rs 281.98 39.85 19.34 -17.80 -47.94 -61.65 -9.09
Dividend Payout % 0% 0% 31% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: %
5 Years: -18%
3 Years: -16%
TTM: 51%
Compounded Profit Growth
10 Years: %
5 Years: %
3 Years: 8%
TTM: 82%
Stock Price CAGR
10 Years: %
5 Years: %
3 Years: 30%
1 Year: 132%
Return on Equity
10 Years: %
5 Years: -68%
3 Years: -152%
Last Year: -57%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Equity Capital 16 16 16 16 19 19 23
Reserves 181 825 1,065 646 898 -244 946
184 2,228 1,234 479 446 2,030 516
4,540 2,323 2,719 2,568 2,137 1,386 2,816
Total Liabilities 4,920 5,392 5,034 3,709 3,500 3,190 4,301
21 31 45 46 42 44 56
CWIP 3 0 4 0 0 0 0
Investments 0 0 0 0 0 0 0
4,896 5,360 4,985 3,663 3,457 3,146 4,244
Total Assets 4,920 5,392 5,034 3,709 3,500 3,190 4,301

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
251 -723 338 201 -1,690 -1,829 538
-15 -924 1,018 409 949 -12 -5
-141 1,972 -1,313 -853 978 1,431 -286
Net Cash Flow 95 325 43 -243 238 -410 248

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 97 84 133 61 55 143 100
Inventory Days 1 0
Days Payable 253 283
Cash Conversion Cycle -155 84 133 61 55 143 -183
Working Capital Days 13 113 113 47 48 271 117
ROCE % 50% 23% -14% -66% -65%

Shareholding Pattern

Numbers in percentages

17 Recently
Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
69.36% 69.36% 74.10% 78.56% 78.56% 76.69% 72.73% 72.73% 69.03% 67.56% 52.99% 52.94%
6.10% 8.56% 6.76% 2.33% 2.05% 2.65% 3.53% 4.13% 4.26% 3.37% 11.91% 10.50%
4.19% 3.62% 3.00% 3.17% 3.38% 3.90% 4.74% 5.55% 5.57% 5.94% 9.75% 10.64%
20.35% 18.46% 16.14% 15.94% 16.00% 16.76% 19.01% 17.61% 21.14% 23.14% 25.34% 25.91%
No. of Shareholders 71,20665,7791,41,7161,56,5941,63,8041,62,3831,58,0021,54,1501,53,1281,58,6491,48,9941,96,308

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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