Sterling Powergensys Ltd

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

Sterling Powergensys Ltd

₹ 19.4 -7.72%
13 Mar - close price
splsolar.in BSE: 513575
About

Incorporated in 1984, Sterling Powergensys Ltd is in the business of undertaking Solar projects and sale of commodities.[1]

Key Points

Business Overview:[1][2]
SPGL is engaged in manufacturing Industrial Boilers and Thermal Power Plants up to 10 MW, and in Solar Solutions covering both Solar Products and Solar EPC projects. It provides Module Mounting Solutions for Solar Power Projects on an EPC basis and has executed approximately 75–80 MW of such projects. The company is also active in global commodity trade and is progressing towards Green
Hydrogen projects.

Website BSE
  • Market Cap ₹ 10.2 Cr.
  • Current Price ₹ 19.4
  • High / Low ₹ 45.3 / 19.2
  • Stock P/E
  • Book Value ₹ 0.04
  • Dividend Yield 0.00 %
  • ROCE 11.4 %
  • ROE 80.8 %
  • Face Value ₹ 10.0
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Pros

  • Company's working capital requirements have reduced from 532 days to 55.0 days

Cons

  • Stock is trading at 510 times its book value
  • Company has low interest coverage ratio.
  • Company might be capitalizing the interest cost
  • Company has high debtors of 297 days.
  • Promoter holding has decreased over last 3 years: -18.2%

* 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

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Quarterly Results

Figures in Rs. Crores

Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025
0.07 0.09 0.09 0.25 0.12 0.11 6.41 10.68 0.33 0.80 0.80 0.79 0.83
0.20 0.19 0.10 0.21 0.19 -0.03 7.03 10.66 0.54 0.91 1.41 0.99 0.99
Operating Profit -0.13 -0.10 -0.01 0.04 -0.07 0.14 -0.62 0.02 -0.21 -0.11 -0.61 -0.20 -0.16
OPM % -185.71% -111.11% -11.11% 16.00% -58.33% 127.27% -9.67% 0.19% -63.64% -13.75% -76.25% -25.32% -19.28%
0.01 0.00 -0.01 0.01 0.00 1.75 1.96 0.05 0.27 0.07 0.38 0.05 0.00
Interest 0.04 0.04 0.04 0.04 0.06 0.04 -0.04 0.03 0.00 0.02 0.07 0.02 0.03
Depreciation 0.06 0.06 0.06 0.06 0.03 0.06 0.13 0.02 0.05 0.03 -0.03 0.02 0.02
Profit before tax -0.22 -0.20 -0.12 -0.05 -0.16 1.79 1.25 0.02 0.01 -0.09 -0.27 -0.19 -0.21
Tax % 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
-0.22 -0.20 -0.12 -0.05 -0.16 1.79 1.26 0.02 0.01 -0.09 -0.28 -0.18 -0.20
EPS in Rs -0.43 -0.39 -0.24 -0.10 -0.31 3.51 2.47 0.04 0.02 -0.17 -0.53 -0.34 -0.38
Raw PDF

Profit & Loss

Figures in Rs. Crores

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 TTM
5.20 1.00 3.68 16.64 6.21 1.00 11.16 0.37 0.31 0.33 6.88 12.60 3.22
4.51 1.96 7.91 16.06 6.28 1.26 11.31 0.70 0.85 0.60 7.40 13.52 4.30
Operating Profit 0.69 -0.96 -4.23 0.58 -0.07 -0.26 -0.15 -0.33 -0.54 -0.27 -0.52 -0.92 -1.08
OPM % 13.27% -96.00% -114.95% 3.49% -1.13% -26.00% -1.34% -89.19% -174.19% -81.82% -7.56% -7.30% -33.54%
0.13 1.08 4.73 0.02 0.00 0.04 0.00 -0.26 1.03 0.00 3.73 1.30 0.50
Interest 0.31 0.13 0.17 0.17 0.29 0.21 0.11 0.25 0.13 0.19 0.14 0.12 0.14
Depreciation 0.29 0.21 0.22 0.22 0.26 0.26 0.26 0.26 0.26 0.24 0.24 0.07 0.04
Profit before tax 0.22 -0.22 0.11 0.21 -0.62 -0.69 -0.52 -1.10 0.10 -0.70 2.83 0.19 -0.76
Tax % 0.00% 0.00% 0.00% 19.05% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
0.21 -0.22 0.12 0.16 -0.62 -0.69 -0.52 -1.10 0.10 -0.71 2.84 0.19 -0.75
EPS in Rs 0.41 -0.43 0.24 0.31 -1.22 -1.35 -1.02 -2.16 0.20 -1.39 5.57 0.36 -1.42
Dividend Payout % 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Compounded Sales Growth
10 Years: 29%
5 Years: 2%
3 Years: 244%
TTM: -82%
Compounded Profit Growth
10 Years: 11%
5 Years: 19%
3 Years: 30%
TTM: -124%
Stock Price CAGR
10 Years: 8%
5 Years: %
3 Years: 5%
1 Year: -53%
Return on Equity
10 Years: %
5 Years: %
3 Years: %
Last Year: 81%

Balance Sheet

Figures in Rs. Crores

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Sep 2025
Equity Capital 5.10 5.10 5.10 5.10 5.10 5.10 5.10 5.10 5.10 5.10 5.10 5.26 5.26
Reserves -4.10 -4.46 -4.35 -4.18 -4.80 -5.50 -6.02 -7.12 -7.02 -7.72 -4.95 -4.94 -5.24
2.38 3.46 2.88 2.15 2.74 2.68 2.73 3.74 5.28 5.29 2.44 2.52 2.47
14.70 12.19 7.30 8.40 8.45 8.94 19.43 14.12 13.97 11.94 16.33 17.45 19.36
Total Liabilities 18.08 16.29 10.93 11.47 11.49 11.22 21.24 15.84 17.33 14.61 18.92 20.29 21.85
2.71 3.45 3.35 3.15 2.89 2.64 2.38 2.12 1.86 1.62 1.07 1.17 1.13
CWIP 1.75 1.76 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Investments 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
13.62 11.08 7.58 8.32 8.60 8.58 18.86 13.72 15.47 12.99 17.85 19.12 20.72
Total Assets 18.08 16.29 10.93 11.47 11.49 11.22 21.24 15.84 17.33 14.61 18.92 20.29 21.85

Cash Flows

Figures in Rs. Crores

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
0.00 0.11 0.85 1.03 -0.20 -0.51 -0.41 -0.84 0.00 0.21 -0.57 -0.92
-0.03 -1.09 -0.11 -0.11 0.00 0.04 0.00 0.00 1.03 0.00 4.05 -0.15
0.03 1.01 -0.74 -0.74 0.32 0.41 0.52 0.97 -1.04 -0.18 -3.00 0.58
Net Cash Flow 0.00 0.03 -0.01 0.18 0.12 -0.06 0.11 0.13 -0.01 0.02 0.47 -0.49

Ratios

Figures in Rs. Crores

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Debtor Days 488.54 1,708.20 488.98 101.56 278.60 1,730.10 501.71 10,417.30 12,892.74 8,959.09 524.69 296.63
Inventory Days 818.10 10,085.53 109.17 59.84 155.48 1,737.72 69.68 3,267.62 1,922.33 91.11 48.29
Days Payable 796.08 7,568.95 185.26 102.76 295.41 968.04 411.34 11,627.86 11,181.17 768.48 401.89
Cash Conversion Cycle 510.56 4,224.78 412.89 58.63 138.67 2,499.77 160.05 2,057.06 3,633.91 8,959.09 -152.68 -56.97
Working Capital Days -4.21 -105.85 157.70 12.06 47.61 229.95 55.27 1,795.41 2,154.68 1,471.06 69.50 55.04
ROCE % 9.61% -2.41% 7.24% 11.64% -10.80% -18.05% -20.05% -31.16% -31.50% -16.92% -28.52% 11.42%

Insights

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Mar 2015Mar 2016Mar 2017Mar 2018Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Number of Permanent Employees
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Debtors Turnover Ratio
Ratio
Standard Solar Power System Range (Upper Limit)
KW

Shareholding Pattern

Numbers in percentages

Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
62.75% 62.75% 62.62% 61.32% 58.55% 49.96% 41.32% 40.42% 44.87% 44.42% 44.04% 44.04%
0.16% 0.16% 0.16% 0.16% 0.16% 0.16% 0.15% 0.15% 0.15% 0.15% 0.15% 0.15%
37.10% 37.10% 37.22% 38.53% 41.30% 49.88% 58.54% 59.43% 54.99% 55.43% 55.82% 55.80%
No. of Shareholders 5,1955,2705,4025,7526,0926,8027,1537,5467,7147,9718,1288,128

* 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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Documents

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