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

₹ 247 -0.21%
02 Jul - 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

Business Overview[1]
A leading provider of solar EPC, BoS, and O&M solutions with a global portfolio of 27.3 GWp EPC and 13.5 GWp O&M projects across 28 countries. The Company has executed the 1,177 MWp Abu Dhabi solar plant, one of the world’s largest single-location PV projects, and is currently executing over 3 GW of solar capacity in India, including major projects at Khavda, Gujarat, and one of the country’s largest BESS projects.

Website BSE NSE
  • Market Cap ₹ 5,768 Cr.
  • Current Price ₹ 247
  • High / Low ₹ 341 / 148
  • Stock P/E 17.4
  • Book Value ₹ 27.8
  • Dividend Yield 0.00 %
  • ROCE 26.8 %
  • ROE 40.1 %
  • Face Value ₹ 1.00
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Pros

Cons

  • Stock is trading at 8.88 times its book value
  • Tax rate seems low
  • Company has a low return on equity of 9.18% 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

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

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
88 515 760 583 1,178 915 1,030 1,837 2,519 1,762 1,749 2,092 1,946
441 552 758 599 1,149 890 1,012 1,767 2,386 1,676 1,745 2,025 1,800
Operating Profit -352 -37 1 -16 29 25 18 70 134 85 4 67 146
OPM % -398% -7% 0% -3% 2% 3% 2% 4% 5% 5% 0% 3% 7%
-2 7 17 27 33 13 34 5 -13 21 -469 -12 53
Interest 60 62 64 68 25 19 28 31 31 29 36 47 42
Depreciation 4 3 4 4 4 4 4 3 3 3 3 3 3
Profit before tax -418 -95 -50 -61 34 15 20 41 87 75 -503 4 154
Tax % 1% -0% 9% 3% 96% 67% 57% 58% 37% 48% -5% 65% 8%
-421 -95 -55 -62 1 5 9 17 55 39 -478 2 142
EPS in Rs -22.01 -5.03 -2.86 -2.73 0.06 0.18 0.30 0.64 2.37 1.37 -20.26 -0.12 5.76
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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 Mar 2026
6,872 8,240 5,575 5,081 5,199 2,015 3,035 6,302 7,548
6,330 7,582 5,246 5,458 6,102 3,139 3,043 6,038 7,234
Operating Profit 542 658 329 -377 -903 -1,124 -7 264 314
OPM % 8% 8% 6% -7% -17% -56% -0% 4% 4%
13 209 303 158 95 111 85 40 -408
Interest 23 100 220 105 87 151 234 127 165
Depreciation 3 8 14 17 15 15 17 14 11
Profit before tax 529 759 398 -340 -910 -1,179 -172 163 -270
Tax % 15% 16% 24% -15% 1% -0% 22% 47% 9%
451 638 304 -290 -916 -1,175 -211 86 -296
EPS in Rs 281.98 39.85 19.34 -17.80 -47.94 -61.65 -9.09 3.49 -13.25
Dividend Payout % 0% 0% 31% 0% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: %
5 Years: 8%
3 Years: 55%
TTM: 20%
Compounded Profit Growth
10 Years: %
5 Years: 26%
3 Years: 32%
TTM: 310%
Stock Price CAGR
10 Years: %
5 Years: -3%
3 Years: -5%
1 Year: -21%
Return on Equity
10 Years: %
5 Years: -57%
3 Years: 9%
Last Year: 40%

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 Mar 2026
Equity Capital 16 16 16 16 19 19 23 23 23
Reserves 181 825 1,065 646 898 -244 946 984 626
184 2,228 1,234 479 446 2,030 516 936 1,191
4,540 2,323 2,719 2,568 2,137 1,386 2,816 3,687 3,476
Total Liabilities 4,920 5,392 5,034 3,709 3,500 3,190 4,301 5,630 5,317
21 31 45 46 42 44 56 46 41
CWIP 3 0 4 0 0 0 0 0 0
Investments 0 0 0 0 0 0 0 0 0
4,896 5,360 4,985 3,663 3,457 3,146 4,244 5,584 5,276
Total Assets 4,920 5,392 5,034 3,709 3,500 3,190 4,301 5,630 5,317

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 Mar 2026
251 -723 338 201 -1,690 -1,829 538 38 -257
-15 -924 1,018 409 949 -12 -5 -75 -107
-141 1,972 -1,313 -853 978 1,431 -286 317 103
Net Cash Flow 95 325 43 -243 238 -410 248 280 -261
Free Cash Flow 233 -732 323 185 -1,700 -1,838 538 34 -268
CFO/OP 61% -94% 142% -70% 185% 161% -6,962% 43% -66%

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Debtor Days 97 84 133 61 55 143 100 73 87
Inventory Days 1
Days Payable 253
Cash Conversion Cycle -155 84 133 61 55 143 100 73 87
Working Capital Days 13 14 33 13 17 32 89 25 6
ROCE % 50% 23% -14% -66% -65% 4% 17% 27%

Insights

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Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
New Order Inflow
INR Crore

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O&M Portfolio
GW
Unexecuted Order Value (UOV)
INR Crore
Cumulative EPC Capacity (Commissioned + Under Construction)
GWp
Active EPC Bid Pipeline
GW
Domestic Share of Order Book (UOV)
% of UOV
Global Manpower Strength
Number of employees
Annual Commissioned Solar Capacity
GW AC

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

17 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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