Sterling & Wilson Renewable Energy Ltd

Sterling & Wilson Renewable Energy Ltd

₹ 599 1.57%
23 Feb - close price
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 13,952 Cr.
  • Current Price 599
  • High / Low 647 / 253
  • Stock P/E
  • Book Value -17.2
  • Dividend Yield 0.00 %
  • ROCE -65.4 %
  • ROE -338 %
  • Face Value 1.00

Pros

  • Company is expected to give good quarter

Cons

  • Company has low interest coverage ratio.
  • Promoter holding has decreased over last quarter: -14.6%
  • The company has delivered a poor sales growth of -21.8% over past five years.
  • Company has a low return on equity of -118% over last 3 years.
  • Promoters have pledged 37.4% of their holding.
  • Debtor days have increased from 86.4 to 143 days.
  • Working capital days have increased from 122 days to 271 days

* 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.

Loading peers table ...

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
1,312 1,365 1,195 1,438 1,495 1,071 1,207 313 407 88 515 760 583
1,297 1,789 1,298 1,733 1,886 1,195 1,551 683 471 441 552 758 599
Operating Profit 14 -424 -104 -294 -391 -124 -344 -370 -64 -352 -37 1 -16
OPM % 1% -31% -9% -20% -26% -12% -28% -118% -16% -398% -7% 0% -3%
36 52 33 31 7 23 4 98 11 -2 7 17 27
Interest 23 23 13 17 28 19 15 33 38 60 62 64 68
Depreciation 4 5 3 3 4 4 3 3 4 4 3 4 4
Profit before tax 23 -400 -87 -284 -416 -123 -358 -308 -95 -418 -95 -50 -61
Tax % 4% 14% 12% -0% -3% -3% 1% 3% -4% -1% 0% -9% -3%
22 -345 -76 -284 -429 -127 -356 -299 -99 -421 -95 -55 -62
EPS in Rs 1.35 -21.63 -4.75 -17.75 -22.27 -6.66 -18.66 -15.65 -5.34 -22.01 -5.03 -2.86 -2.73
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
6,872 8,240 5,575 5,081 5,199 2,015 1,946
6,330 7,582 5,246 5,458 6,102 3,139 2,350
Operating Profit 542 658 329 -377 -903 -1,124 -404
OPM % 8% 8% 6% -7% -17% -56% -21%
13 209 303 158 95 111 50
Interest 23 100 220 105 87 151 253
Depreciation 3 8 14 17 15 15 16
Profit before tax 529 759 398 -340 -910 -1,179 -624
Tax % 15% 16% 24% 15% -1% 0%
451 638 304 -290 -916 -1,175 -633
EPS in Rs 281.98 39.85 19.34 -17.80 -47.94 -61.65 -32.63
Dividend Payout % 0% 0% 31% 0% 0% 0%
Compounded Sales Growth
10 Years: %
5 Years: -22%
3 Years: -29%
TTM: -35%
Compounded Profit Growth
10 Years: %
5 Years: %
3 Years: %
TTM: 28%
Stock Price CAGR
10 Years: %
5 Years: %
3 Years: 36%
1 Year: 102%
Return on Equity
10 Years: %
5 Years: -41%
3 Years: -118%
Last Year: -338%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 16 16 16 16 19 19 19
Reserves 181 825 1,065 646 898 -244 -419
184 2,228 1,234 479 446 2,030 2,220
4,540 2,323 2,719 2,568 2,137 1,386 2,193
Total Liabilities 4,920 5,392 5,034 3,709 3,500 3,190 4,013
21 31 45 46 42 44 64
CWIP 3 0 4 0 0 0 0
Investments 0 0 0 0 0 0 0
4,896 5,360 4,985 3,663 3,457 3,146 3,949
Total Assets 4,920 5,392 5,034 3,709 3,500 3,190 4,013

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
251 -723 338 201 -1,690 -1,829
-15 -924 1,018 409 949 -12
-141 1,972 -1,313 -853 978 1,431
Net Cash Flow 95 325 43 -243 238 -410

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 97 84 133 61 55 143
Inventory Days 1
Days Payable 253
Cash Conversion Cycle -155 84 133 61 55 143
Working Capital Days 13 113 113 47 48 271
ROCE % 50% 23% -14% -66% -65%

Shareholding Pattern

Numbers in percentages

9 Recently
Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
69.36% 69.36% 69.36% 74.10% 78.56% 78.56% 76.69% 72.73% 72.73% 69.03% 67.56% 52.99%
6.58% 6.10% 8.56% 6.76% 2.33% 2.05% 2.65% 3.53% 4.13% 4.26% 3.37% 11.91%
4.40% 4.19% 3.62% 3.00% 3.17% 3.38% 3.90% 4.74% 5.55% 5.57% 5.94% 9.75%
19.66% 20.35% 18.46% 16.14% 15.94% 16.00% 16.76% 19.01% 17.61% 21.14% 23.14% 25.34%
No. of Shareholders 43,20971,20665,7791,41,7161,56,5941,63,8041,62,3831,58,0021,54,1501,53,1281,58,6491,48,994

* 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

Concalls