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

₹ 271 -4.99%
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

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.

Website BSE NSE
  • Market Cap ₹ 6,338 Cr.
  • Current Price ₹ 271
  • High / Low ₹ 828 / 216
  • Stock P/E 77.8
  • Book Value ₹ 43.1
  • Dividend Yield 0.00 %
  • ROCE 16.0 %
  • ROE 8.24 %
  • Face Value ₹ 1.00
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Pros

  • Company is expected to give good quarter
  • Debtor days have improved from 105 to 72.6 days.
  • Company's working capital requirements have reduced from 145 days to 47.2 days

Cons

  • Stock is trading at 6.29 times its book value
  • The company has delivered a poor sales growth of 2.48% over past five years.
  • Company has a low return on equity of -76.1% over last 3 years.
  • Promoters have pledged 27.6% of their holding.
  • Promoter holding has decreased over last 3 years: -32.8%

* 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

Sector: Infrastructure Developers & Operators Industry: Engineering - Turnkey Services

Part of BSE Allcap BSE 500 Nifty 500 BSE Industrials Nifty 500 Multicap 50:25:25

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025
1,071 1,207 313 407 88 515 760 583 1,178 915 1,030 1,837 2,519
1,195 1,551 683 471 441 552 758 599 1,149 890 1,012 1,767 2,386
Operating Profit -124 -344 -370 -64 -352 -37 1 -16 29 25 18 70 134
OPM % -12% -28% -118% -16% -398% -7% 0% -3% 2% 3% 2% 4% 5%
23 4 98 11 -2 7 17 27 33 13 34 5 -13
Interest 19 15 33 38 60 62 64 68 25 19 28 31 31
Depreciation 4 3 3 4 4 3 4 4 4 4 4 3 3
Profit before tax -123 -358 -308 -95 -418 -95 -50 -61 34 15 20 41 87
Tax % 3% -1% -3% 4% 1% -0% 9% 3% 96% 67% 57% 58% 37%
-127 -356 -299 -99 -421 -95 -55 -62 1 5 9 17 55
EPS in Rs -6.66 -18.66 -15.65 -5.34 -22.01 -5.03 -2.86 -2.73 0.06 0.18 0.30 0.64 2.37
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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
6,872 8,240 5,575 5,081 5,199 2,015 3,035 6,302
6,330 7,582 5,246 5,458 6,102 3,139 3,043 6,055
Operating Profit 542 658 329 -377 -903 -1,124 -7 247
OPM % 8% 8% 6% -7% -17% -56% -0% 4%
13 209 303 158 95 111 85 40
Interest 23 100 220 105 87 151 234 109
Depreciation 3 8 14 17 15 15 17 14
Profit before tax 529 759 398 -340 -910 -1,179 -172 163
Tax % 15% 16% 24% -15% 1% -0% 22% 47%
451 638 304 -290 -916 -1,175 -211 86
EPS in Rs 281.98 39.85 19.34 -17.80 -47.94 -61.65 -9.09 3.49
Dividend Payout % 0% 0% 31% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: %
5 Years: 2%
3 Years: 7%
TTM: 108%
Compounded Profit Growth
10 Years: %
5 Years: -23%
3 Years: 28%
TTM: 139%
Stock Price CAGR
10 Years: %
5 Years: 10%
3 Years: -11%
1 Year: -59%
Return on Equity
10 Years: %
5 Years: -74%
3 Years: -76%
Last Year: 8%

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
Equity Capital 16 16 16 16 19 19 23 23
Reserves 181 825 1,065 646 898 -244 946 984
184 2,228 1,234 479 446 2,030 516 936
4,540 2,323 2,719 2,568 2,137 1,386 2,816 3,687
Total Liabilities 4,920 5,392 5,034 3,709 3,500 3,190 4,301 5,630
21 31 45 46 42 44 56 46
CWIP 3 0 4 0 0 0 0 0
Investments 0 0 0 0 0 0 0 0
4,896 5,360 4,985 3,663 3,457 3,146 4,244 5,584
Total Assets 4,920 5,392 5,034 3,709 3,500 3,190 4,301 5,630

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
251 -723 338 201 -1,690 -1,829 538 38
-15 -924 1,018 409 949 -12 -5 -75
-141 1,972 -1,313 -853 978 1,431 -286 317
Net Cash Flow 95 325 43 -243 238 -410 248 280

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Debtor Days 97 84 133 61 55 143 100 73
Inventory Days 1 0
Days Payable 253 220
Cash Conversion Cycle -155 84 133 61 55 143 100 -147
Working Capital Days 13 113 113 47 48 271 117 47
ROCE % 50% 23% -14% -66% -65% 4% 16%

Shareholding Pattern

Numbers in percentages

2 Recently
Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025
78.56% 76.69% 72.73% 72.73% 69.03% 67.56% 52.99% 52.94% 52.92% 45.75% 45.74% 45.74%
2.05% 2.65% 3.53% 4.13% 4.26% 3.37% 11.91% 10.50% 10.07% 14.08% 10.39% 8.43%
3.38% 3.90% 4.74% 5.55% 5.57% 5.94% 9.75% 10.64% 9.08% 9.70% 9.82% 7.50%
16.00% 16.76% 19.01% 17.61% 21.14% 23.14% 25.34% 25.91% 27.95% 30.47% 34.05% 38.33%
No. of Shareholders 1,63,8041,62,3831,58,0021,54,1501,53,1281,58,6491,48,9941,96,3082,44,7632,73,6623,14,0743,40,026

* 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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