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

₹ 208 -1.72%
30 Apr - 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

Promoters
The company was earlier a part of the Shapoorji Pallonji Group. In 2022, Reliance Industries acquired a 40% stake in the Company through its subsidiary Reliance New Energy Limited. As of March 2025, Reliance held 32.5% and Shapoorji Pallonji 6.9% stake in the company. [1] [2]

Website BSE NSE
  • Market Cap ₹ 4,865 Cr.
  • Current Price ₹ 208
  • High / Low ₹ 349 / 148
  • Stock P/E 16.7
  • Book Value ₹ 19.6
  • Dividend Yield 0.00 %
  • ROCE 15.3 %
  • ROE 16.8 %
  • Face Value ₹ 1.00
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Pros

Cons

  • Stock is trading at 10.6 times its book value
  • Tax rate seems low
  • Company has a low return on equity of 10.7% over last 3 years.
  • Promoters have pledged 27.6% of their holding.
  • Promoter holding has decreased over last 3 years: -27.0%

* 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

Industrials Construction Construction Civil Construction

Part of BSE 500 Nifty500 Shariah BSE Industrials BSE 250 SmallCap Index BSE 400 MidSmallCap Index

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
158 384 642 541 1,140 885 996 1,487 2,018 1,363 1,276 1,806 1,719
274 401 634 532 1,085 833 954 1,412 1,912 1,291 1,271 1,720 1,624
Operating Profit -116 -17 8 9 55 52 42 75 107 73 5 85 95
OPM % -74% -5% 1% 2% 5% 6% 4% 5% 5% 5% 0% 5% 6%
30 48 68 62 93 52 71 48 34 63 -2,592 33 -127
Interest 59 52 55 61 24 19 25 31 31 29 33 46 44
Depreciation 1 2 2 3 3 3 2 2 2 2 2 3 3
Profit before tax -147 -23 18 7 121 83 86 90 107 104 -2,623 70 -78
Tax % 2% 0% 17% 8% 27% 11% 12% 14% 14% 24% -1% -5% -0%
-151 -23 15 6 89 74 75 77 92 78 -2,584 73 -78
EPS in Rs -7.94 -1.20 0.78 0.27 3.81 3.15 3.21 3.32 3.95 3.36 -110.63 3.13 -3.35
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2018 13m Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
6,126 8,210 4,537 3,176 3,460 1,458 2,706 5,387 6,164
5,934 7,991 4,304 3,386 3,679 1,869 2,644 5,101 5,906
Operating Profit 192 220 233 -209 -219 -411 62 286 258
OPM % 3% 3% 5% -7% -6% -28% 2% 5% 4%
25 155 372 154 102 214 271 205 -2,624
Interest 13 68 167 79 81 143 200 116 152
Depreciation 2 3 6 8 8 7 9 10 10
Profit before tax 202 304 431 -143 -205 -347 123 366 -2,527
Tax % 35% 36% 27% -22% -18% 2% 29% 13% -1%
132 196 317 -111 -168 -355 87 318 -2,510
EPS in Rs 82.30 12.23 19.75 -6.95 -8.83 -18.72 3.74 13.63 -107.49
Dividend Payout % 0% 0% 30% 0% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: %
5 Years: 14%
3 Years: 62%
TTM: 14%
Compounded Profit Growth
10 Years: %
5 Years: 36%
3 Years: 41%
TTM: -8%
Stock Price CAGR
10 Years: %
5 Years: -8%
3 Years: -11%
1 Year: -20%
Return on Equity
10 Years: %
5 Years: 2%
3 Years: 11%
Last Year: 17%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Equity Capital 16 16 16 16 19 19 23 23 23
Reserves 219 423 686 496 1,482 1,150 2,657 2,983 436
67 1,175 606 392 359 1,851 511 931 1,188
3,545 2,962 2,607 2,872 2,112 1,037 2,496 3,063 3,123
Total Liabilities 3,847 4,575 3,916 3,776 3,973 4,057 5,687 7,001 4,770
10 12 28 34 28 33 47 39 38
CWIP 0 0 3 0 0 0 0 0 0
Investments 4 6 4 371 371 371 371 804 560
3,833 4,557 3,881 3,371 3,573 3,652 5,269 6,157 4,171
Total Assets 3,847 4,575 3,916 3,776 3,973 4,057 5,687 7,001 4,770

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
347 149 -273 -10 -1,261 -580 1,027 -18 282
-51 -934 965 225 501 -1,088 -702 -184 -562
-257 1,056 -821 -275 982 1,346 -85 320 104
Net Cash Flow 39 270 -128 -59 222 -322 240 118 -176
Free Cash Flow 343 139 -286 -22 -1,263 -586 1,027 -19 272
CFO/OP 221% 112% -58% -24% 569% 136% 1,608% 15% 118%

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Debtor Days 131 77 124 88 62 137 88 74 96
Inventory Days 1 13 0
Days Payable 205 2,059 185
Cash Conversion Cycle -72 77 -1,922 88 62 137 88 74 -90
Working Capital Days 14 4 37 -18 63 314 85 24 -34
ROCE % 39% 41% -6% -9% -8% 10% 13% 15%

Insights

In beta
Dec 2014 Dec 2015 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Order Book (Unexecuted Order Value)
INR Crore

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O&M Portfolio Size
GWp
EPC Portfolio / Cumulative Capacity
GWp
Order Inflow
INR Crore
Global Solar EPC Market Share (excl. China)
%
Total Bid Conversion Ratio (Capacity based)
%

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

16 Recently
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
69.03% 67.56% 52.99% 52.94% 52.92% 45.75% 45.74% 45.74% 45.74% 45.73% 45.73% 45.73%
4.26% 3.37% 11.91% 10.50% 10.07% 14.08% 10.39% 8.43% 8.41% 7.11% 7.19% 6.96%
5.57% 5.94% 9.75% 10.64% 9.08% 9.70% 9.82% 7.50% 5.02% 3.18% 2.98% 3.19%
21.14% 23.14% 25.34% 25.91% 27.95% 30.47% 34.05% 38.33% 40.83% 44.00% 44.11% 44.12%
No. of Shareholders 1,53,1281,58,6491,48,9941,96,3082,44,7632,73,6623,14,0743,40,0263,53,3163,66,2223,54,2193,37,694

* 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

Announcements

Annual reports

DRHP

Credit ratings

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