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 ₹ 15,392 Cr.
- Current Price ₹ 660
- High / Low ₹ 679 / 253
- Stock P/E 176
- 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 5.80 times its book value
- Company has low interest coverage ratio.
- 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 37.2% of their holding.
- Earnings include an other income of Rs.271 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 | |
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6,126 | 8,210 | 4,537 | 3,176 | 3,460 | 1,458 | 2,706 | |
5,934 | 7,991 | 4,304 | 3,386 | 3,679 | 1,869 | 2,652 | |
Operating Profit | 192 | 220 | 233 | -209 | -219 | -411 | 54 |
OPM % | 3% | 3% | 5% | -7% | -6% | -28% | 2% |
25 | 155 | 372 | 154 | 102 | 214 | 271 | |
Interest | 13 | 68 | 167 | 79 | 81 | 143 | 192 |
Depreciation | 2 | 3 | 6 | 8 | 8 | 7 | 9 |
Profit before tax | 202 | 304 | 431 | -143 | -205 | -347 | 123 |
Tax % | 35% | 36% | 27% | 22% | 18% | -2% | 29% |
132 | 196 | 317 | -111 | -168 | -355 | 87 | |
EPS in Rs | 82.30 | 12.23 | 19.75 | -6.95 | -8.83 | -18.72 | 3.74 |
Dividend Payout % | 0% | 0% | 30% | 0% | 0% | 0% | 0% |
Compounded Sales Growth | |
---|---|
10 Years: | % |
5 Years: | -20% |
3 Years: | -5% |
TTM: | 86% |
Compounded Profit Growth | |
---|---|
10 Years: | % |
5 Years: | -15% |
3 Years: | 41% |
TTM: | 125% |
Stock Price CAGR | |
---|---|
10 Years: | % |
5 Years: | % |
3 Years: | 26% |
1 Year: | 119% |
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% |
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Credit Rating
8m - The Company has received a long-term rating of "BB+" Please find enclosed the instrument-wise rating actions issued by Acuite Rating and Research Limited.
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
1d - The officials of the Company will be meeting Investor/Analysts on April 26, 2024.
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Investors Call Q4 FY 24- Audio Recording
22 Apr - The audio recording of the Investors/ Analysts conference call held today i.e. on Monday, April 22, 2024, at 09:00 A.M. on the Audited Standalone and …
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Announcement under Regulation 30 (LODR)-Newspaper Publication
22 Apr - Read with Regulation 47 of the SEBI Listing Regulations, please find enclosed herewith the Newspaper Publication on the Audited Financial Results of the Company for …
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Announcement under Regulation 30 (LODR)-Press Release / Media Release
21 Apr - Press release on the Audited Financial Results of the Company for Q4 & FY 24
Annual reports
Concalls
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Apr 2024TranscriptNotesPPT REC
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Feb 2024Transcript PPT
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Nov 2023Transcript PPT
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Feb 2021TranscriptPPT
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Nov 2020Transcript PPT
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Sep 2020TranscriptNotesPPT
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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
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.