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 ₹ 7,812 Cr.
- Current Price ₹ 335
- High / Low ₹ 758 / 216
- Stock P/E 95.9
- Book Value ₹ 43.1
- Dividend Yield 0.00 %
- ROCE 16.0 %
- ROE 8.24 %
- Face Value ₹ 1.00
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 7.76 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 or encumbered 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
Industrials Construction Construction Civil Construction
Part of BSE 500 Nifty 500 BSE SmallCap BSE Allcap BSE Industrials
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
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 | |
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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: | 8% |
3 Years: | 6% |
1 Year: | -52% |
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% |
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
11 Jul - Invite for the Investors/ Analysts conference call organized by the Company on Friday, July 18, 2025 at 10:00 A.M. (IST) on the Unaudited Consolidated and …
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Board Meeting Intimation for Approval Of The Unaudited Consolidated And Standalone Financial Results Of The Company For The Quarter Ended June 30, 2025
10 Jul - Board meeting on July 17 to approve Q1 2025 financial results; trading window closed till July 20.
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Clarification sought from Sterling and Wilson Renewable Energy Ltd
10 Jul - Exchange has sought clarification from Sterling and Wilson Renewable Energy Ltd on July 10, 2025, with reference to Movement in Volume.
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Closure of Trading Window
30 Jun - Trading window closed from July 1 until 48 hours post Q1 2025 results announcement.
- Disclosures of reasons for encumbrance by promoter of listed companies under Reg. 31(1) read with Regulation 28(3) of SEBI (SAST) Regulations, 2011. 27 Jun
Annual reports
Concalls
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May 2025Transcript PPT REC
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Promoters
The company was earlier a part of the Shapoorji Pallonji Group. In 2022, Reliance Industries acquired a 40% stake in the Company through its subsidiary Reliance New Energy Limited. As of March 2025, Reliance held 32.5% and Shapoorji Pallonji 6.9% stake in the company. [1] [2]