Sterling & Wilson Renewable Energy Ltd

Sterling & Wilson Renewable Energy Ltd

₹ 633 0.20%
24 Apr 11:06 a.m.
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

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.

  • Market Cap 14,768 Cr.
  • Current Price 633
  • High / Low 679 / 253
  • Stock P/E 169
  • 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 5.50 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.

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
1,301 846 959 1,035 619 793 214 293 158 384 642 541 1,140
1,464 911 1,028 1,058 687 906 355 337 274 401 634 532 1,085
Operating Profit -163 -65 -69 -22 -69 -112 -141 -44 -116 -17 8 9 55
OPM % -13% -8% -7% -2% -11% -14% -66% -15% -74% -5% 1% 2% 5%
47 33 30 18 21 26 118 40 30 48 68 62 93
Interest 17 12 17 28 19 14 31 37 59 52 55 61 24
Depreciation 2 2 2 3 1 2 1 2 1 2 2 3 3
Profit before tax -135 -45 -58 -35 -68 -102 -55 -42 -147 -23 18 7 121
Tax % 27% 22% 27% 7% 14% -2% -0% -6% -2% -0% 17% 8% 27%
-99 -35 -42 -32 -58 -104 -55 -45 -151 -23 15 6 89
EPS in Rs -6.15 -2.19 -2.62 -1.70 -3.06 -5.48 -2.92 -2.37 -7.94 -1.20 0.78 0.27 3.81
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
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: 25%
1 Year: 111%
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%

Shareholding Pattern

Numbers in percentages

5 Recently
Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
69.36% 69.36% 74.10% 78.56% 78.56% 76.69% 72.73% 72.73% 69.03% 67.56% 52.99% 52.94%
6.10% 8.56% 6.76% 2.33% 2.05% 2.65% 3.53% 4.13% 4.26% 3.37% 11.91% 10.50%
4.19% 3.62% 3.00% 3.17% 3.38% 3.90% 4.74% 5.55% 5.57% 5.94% 9.75% 10.64%
20.35% 18.46% 16.14% 15.94% 16.00% 16.76% 19.01% 17.61% 21.14% 23.14% 25.34% 25.91%
No. of Shareholders 71,20665,7791,41,7161,56,5941,63,8041,62,3831,58,0021,54,1501,53,1281,58,6491,48,9941,96,308

* 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.

Click on the line-items to see the names of individual entities.

Documents

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