Sterling & Wilson Renewable Energy Ltd

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

₹ 160 -3.18%
19 Oct - close price
sterlingandwilsonre.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

Business Overview[1]
A leading provider of solar EPC, BoS, and O&M solutions with a global portfolio of 27.3 GWp EPC and 13.5 GWp O&M projects across 28 countries. The Company has executed the 1,177 MWp Abu Dhabi solar plant, one of the world’s largest single-location PV projects, and is currently executing over 3 GW of solar capacity in India, including major projects at Khavda, Gujarat, and one of the country’s largest BESS projects.

Website BSE NSE
  • Market Cap ₹ 3,742 Cr.
  • Current Price ₹ 160
  • High / Low ₹ 261 / 148
  • Stock P/E 16.3
  • Book Value ₹ 31.0
  • Dividend Yield 0.00 %
  • ROCE 26.8 %
  • ROE 40.1 %
  • Face Value ₹ 1.00
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Pros

  • Company has delivered good profit growth of 25.9% CAGR over last 5 years

Cons

  • Tax rate seems low
  • Company has a low return on equity of 9.18% over last 3 years.
  • Promoters have pledged 27.6% of their holding.
  • Promoter holding has decreased over last 3 years: -21.8%

* 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

Consolidated Figures in Rs. Crores / View Standalone

Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026 Jun 2026 Sep 2026
760 583 1,178 915 1,030 1,837 2,519 1,762 1,749 2,092 1,946 1,590 1,528
758 599 1,149 890 1,012 1,767 2,386 1,676 1,745 2,025 1,800 1,511 1,471
Operating Profit 1 -16 29 25 18 70 134 85 4 67 146 79 56
OPM % 0.2% -2.8% 2.5% 2.7% 1.8% 3.8% 5% 4.8% 0.2% 3.2% 7% 5.0% 3.7%
17 27 33 13 34 5 -13 21 -469 -12 53 20 14
Interest 64 68 25 19 28 31 31 29 36 47 42 39 50
Depreciation 4 4 4 4 4 3 3 3 3 3 3 3 4
Profit before tax -50 -61 34 15 20 41 87 75 -503 4 154 57 17
Tax % 9% 3% 96% 67% 57% 58% 37% 48% -5% 65% 8% 6% 0%
-55 -62 1 5 9 17 55 39 -478 2 142 53 17
EPS in Rs -2.86 -2.73 0.06 0.18 0.30 0.64 2.37 1.37 -20.26 -0.12 5.76 2.32 0.82
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2018 13m Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026 TTM
6,872 8,240 5,575 5,081 5,199 2,015 3,035 6,302 7,548 7,155
6,330 7,582 5,246 5,458 6,102 3,139 3,043 6,038 7,234 6,808
Operating Profit 542 658 329 -377 -903 -1,124 -7 264 314 348
OPM % 8% 8% 6% -7% -17% -56% -0.2% 4.2% 4.2% 4.9%
13 209 303 158 95 111 85 40 -408 75
Interest 23 100 220 105 87 151 234 127 165 178
Depreciation 3 8 14 17 15 15 17 14 11 13
Profit before tax 529 759 398 -340 -910 -1,179 -172 163 -270 232
Tax % 15% 16% 24% -15% 1% -0% 22% 47% 9%
451 638 304 -290 -916 -1,175 -211 86 -296 213
EPS in Rs 28.19 39.85 19.34 -17.80 -47.94 -61.65 -9.09 3.49 -13.25 8.78
Dividend Payout % 0% 0% 31% 0% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: %
5 Years: 8%
3 Years: 55%
TTM: -9%
Compounded Profit Growth
10 Years: %
5 Years: 26%
3 Years: 32%
TTM: 13%
Stock Price CAGR
10 Years: %
5 Years: -17%
3 Years: -17%
1 Year: -29%
Return on Equity
10 Years: %
5 Years: -57%
3 Years: 9%
Last Year: 40%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026 Sep 2026
Equity Capital 16 16 16 16 19 19 23 23 23 23
Reserves 181 825 1,065 646 898 -244 946 984 626 699
184 2,228 1,234 479 446 2,030 516 936 1,191 943
4,540 2,323 2,719 2,568 2,137 1,386 2,816 3,687 3,476 3,566
Total Liabilities 4,920 5,392 5,034 3,709 3,500 3,190 4,301 5,630 5,317 5,232
21 31 45 46 42 44 56 46 41 41
CWIP 3 0 4 0 0 0 0 0 0 0
Investments 0 0 0 0 0 0 0 0 0 0
4,896 5,360 4,985 3,663 3,457 3,146 4,244 5,584 5,276 5,191
Total Assets 4,920 5,392 5,034 3,709 3,500 3,190 4,301 5,630 5,317 5,232

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
251 -723 338 201 -1,690 -1,829 538 38 -257
-15 -924 1,018 409 949 -12 -5 -75 -107
-141 1,972 -1,313 -853 978 1,431 -286 317 103
Net Cash Flow 95 325 43 -243 238 -410 248 280 -261
Free Cash Flow 233 -732 323 185 -1,700 -1,838 538 34 -268
CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit 61% -94% 142% -70% 185% 161% -6,962% 43% -66%

Ratios

Consolidated / View Standalone

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Debtor Days 97 84 133 61 55 143 100 73 87
Inventory Days 1
Days Payable 253
Cash Conversion Cycle -155 84 133 61 55 143 100 73 87
Working Capital Days 13 14 33 13 17 32 89 25 6
ROCE % 50% 23% -14% -66% -65% 4% 17% 27%

Insights

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Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
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O&M Portfolio
GW
Cumulative EPC Capacity (Commissioned + Under Construction)
GWp
Unexecuted Order Value (UOV)
INR Crore
Domestic Share of Order Book (UOV)
% of UOV
Active EPC Bid Pipeline
GW
Global Manpower Strength
Number of employees
Annual Commissioned Solar Capacity
GW AC

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
67.56% 52.99% 52.94% 52.92% 45.75% 45.74% 45.74% 45.74% 45.73% 45.73% 45.73% 45.73%
3.37% 11.91% 10.50% 10.07% 14.08% 10.39% 8.43% 8.41% 7.11% 7.19% 6.96% 5.07%
5.94% 9.75% 10.64% 9.08% 9.70% 9.82% 7.50% 5.02% 3.18% 2.98% 3.19% 4.80%
23.14% 25.34% 25.91% 27.95% 30.47% 34.05% 38.33% 40.83% 44.00% 44.11% 44.12% 44.41%
No. of Shareholders 1,58,6491,48,9941,96,3082,44,7632,73,6623,14,0743,40,0263,53,3163,66,2223,54,2193,37,6943,29,077

* 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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