Sterling & Wilson Renewable Energy Ltd
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
- Market Cap ₹ 16,011 Cr.
- Current Price ₹ 686
- High / Low ₹ 828 / 253
- Stock P/E 87.2
- Book Value ₹ 115
- Dividend Yield 0.00 %
- ROCE 10.2 %
- ROE 4.53 %
- Face Value ₹ 1.00
Pros
- Company has reduced debt.
- Company is expected to give good quarter
- Company's working capital requirements have reduced from 272 days to 117 days
Cons
- Stock is trading at 5.97 times its book value
- The company has delivered a poor sales growth of -19.9% over past five years.
- Company has a low return on equity of -10.2% over last 3 years.
- Promoters have pledged 34.9% of their holding.
- Earnings include an other income of Rs.274 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
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | TTM | |
---|---|---|---|---|---|---|---|---|
6,126 | 8,210 | 4,537 | 3,176 | 3,460 | 1,458 | 2,706 | 3,208 | |
5,934 | 7,991 | 4,304 | 3,386 | 3,679 | 1,869 | 2,652 | 3,084 | |
Operating Profit | 192 | 220 | 233 | -209 | -219 | -411 | 54 | 124 |
OPM % | 3% | 3% | 5% | -7% | -6% | -28% | 2% | 4% |
25 | 155 | 372 | 154 | 102 | 214 | 271 | 274 | |
Interest | 13 | 68 | 167 | 79 | 81 | 143 | 192 | 159 |
Depreciation | 2 | 3 | 6 | 8 | 8 | 7 | 9 | 10 |
Profit before tax | 202 | 304 | 431 | -143 | -205 | -347 | 123 | 229 |
Tax % | 35% | 36% | 27% | -22% | -18% | 2% | 29% | |
132 | 196 | 317 | -111 | -168 | -355 | 87 | 184 | |
EPS in Rs | 82.30 | 12.23 | 19.75 | -6.95 | -8.83 | -18.72 | 3.74 | 8.01 |
Dividend Payout % | 0% | 0% | 30% | 0% | 0% | 0% | 0% |
Compounded Sales Growth | |
---|---|
10 Years: | % |
5 Years: | -20% |
3 Years: | -5% |
TTM: | 206% |
Compounded Profit Growth | |
---|---|
10 Years: | % |
5 Years: | -15% |
3 Years: | 41% |
TTM: | 167% |
Stock Price CAGR | |
---|---|
10 Years: | % |
5 Years: | % |
3 Years: | 35% |
1 Year: | 77% |
Return on Equity | |
---|---|
10 Years: | % |
5 Years: | -4% |
3 Years: | -10% |
Last Year: | 5% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
---|---|---|---|---|---|---|---|
Equity Capital | 16 | 16 | 16 | 16 | 19 | 19 | 23 |
Reserves | 219 | 423 | 686 | 496 | 1,482 | 1,150 | 2,657 |
67 | 1,175 | 606 | 392 | 359 | 1,851 | 511 | |
3,545 | 2,962 | 2,607 | 2,872 | 2,112 | 1,037 | 2,496 | |
Total Liabilities | 3,847 | 4,575 | 3,916 | 3,776 | 3,973 | 4,057 | 5,687 |
10 | 12 | 28 | 34 | 28 | 33 | 47 | |
CWIP | 0 | 0 | 3 | 0 | 0 | 0 | 0 |
Investments | 4 | 6 | 4 | 371 | 371 | 371 | 371 |
3,833 | 4,557 | 3,881 | 3,371 | 3,573 | 3,652 | 5,269 | |
Total Assets | 3,847 | 4,575 | 3,916 | 3,776 | 3,973 | 4,057 | 5,687 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
---|---|---|---|---|---|---|---|
347 | 149 | -273 | -10 | -1,261 | -580 | 1,027 | |
-51 | -934 | 965 | 225 | 501 | -1,088 | -702 | |
-257 | 1,056 | -821 | -275 | 982 | 1,346 | -85 | |
Net Cash Flow | 39 | 270 | -128 | -59 | 222 | -322 | 240 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
---|---|---|---|---|---|---|---|
Debtor Days | 131 | 77 | 124 | 88 | 62 | 137 | 88 |
Inventory Days | 1 | 13 | 0 | ||||
Days Payable | 205 | 2,059 | 234 | ||||
Cash Conversion Cycle | -72 | 77 | -1,922 | 88 | 62 | 137 | -146 |
Working Capital Days | 14 | 56 | 85 | 26 | 100 | 600 | 117 |
ROCE % | 39% | 41% | -6% | -9% | -8% | 10% |
Documents
Announcements
- Announcement under Regulation 30 (LODR)-Press Release / Media Release 18h
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Announcement under Regulation 30 (LODR)-Earnings Call Transcript
2d - In continuation to our letter dated July 12, 2024 and July 19, 2024, please find enclosed the Transcript of the Investor Call held on Friday …
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Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS
20 Jul - Disclosure w.r.t allotment of 29,000 equity shares of Re. 1/- each, to the option grantees, upon exercise of the options vested with them under the …
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Investors Call Q1 FY 25- Audio Recording
19 Jul - The Audio Recording of the Conference Call held today i.e. July 19, 2024 at 9:00 a.m. for the Unaudited Consolidated and Standalone Financial Results of …
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Announcement under Regulation 30 (LODR)-Newspaper Publication
19 Jul - Read with Regulation 47 of the SEBI Listing Regulations, please find enclosed herewith the Newspaper Publication on the Unaudited Financial Results of the Company for …
Annual reports
Concalls
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Jul 2024Transcript PPT REC
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Apr 2024Transcript PPT REC
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Feb 2024Transcript PPT
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Jan 2024Transcript PPT REC
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Nov 2023Transcript PPT REC
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Jul 2023Transcript PPT REC
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Apr 2023Transcript PPT
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Jan 2023Transcript PPT
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Oct 2022Transcript PPT
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Jul 2022Transcript PPT
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Feb 2022Transcript PPT
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Nov 2021Transcript PPT
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Aug 2021Transcript PPT
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Jul 2021Transcript PPT
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Mar 2021Transcript PPT
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Feb 2021TranscriptPPT
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Nov 2020Transcript PPT
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Sep 2020TranscriptNotesPPT
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Sep 2020Transcript PPT
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Jun 2020Transcript PPT
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Feb 2020Transcript PPT
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Feb 2020TranscriptNotesPPT
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Feb 2020TranscriptNotesPPT
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Feb 2020TranscriptNotesPPT
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Nov 2019TranscriptNotesPPT
History[1]
Company was a part of Shapoorji Pallonji Group and is promoted by Shapoorji Pallonji and Company Pvt Ltd and Mr. Khurshed Daruvala. Post demerger from Sterling and Wilson Pvt Ltd, SWREL was incorporated in 2017 and is engaged in EPC and O&M for Solar Power Plants. In FY22, there was an acquisition of stake in SWREL by Reliance New Energy Ltd , a subsidiary of Reliance Industries. Currently REL owns 32.6% stake in the company. The company has set up its largest single location Solar Photovoltaic Plant of 1177 MW in Abu Dhabi.