Sterling and Wilson Renewable Energy Ltd.

•

sterlingandwilsonre.comBSE: 542760NSE: SWSOLAR

Market Cap₹ 4,250 Cr.

Current Price

High / Low₹ 282 / 148

Stock P/E0.0

Book Value₹ 22

Price to Book7.64

Dividend Yield0.00 %

ROCE-85.6 %

ROE-145.1 %

Face Value₹ 1

Add ratio to table

ABOUT

KEY POINTS

Revenue Breakup Mar 2026 • Solar EPC Business: 96.5% • Operation & Maintenance Service: 3.4% • Unallocated: 0.0%

AI Sector View

AI GENERATED

Construction

Buy

Construction fundamentals are strong, led by government and infrastructure spending. Capital expenditure was up 66% YoY (2026-06), cement output grew 13.1% YoY (2026-07), and the sector also benefits from improving housing and GFCF conditions. FPI flows turned supportive with INR 1720 crore net inflow over 3 months to 2026-08-31 from INR -9439 crore in the prior 3 months, reinforcing the positive view.

Confidence

80%

View full sector analysis →

PROS

Operating margins have improved to 4.3% from -13.5%
Working capital cycle has improved - days down from 56 to -12

CONS

Company is loss-making at the operating / net level
Company has a high debt-to-equity of 2.56x
Recent results are weak - TTM profit is down 929.1% versus prior year
Company has a low return on equity of -43.1% over last 3 years
Company has a low return on capital employed of -20.5%
Receivables are growing faster than sales - a possible quality concern

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

ConstructionInfrastructureEngineering - Construction

Part ofNIFTY MICROCAP250 NIFTY TOTAL MKT

S.No.	Name
1.	LT	3925.00	32.55	540027.44	0.97	4988.03	15.51	67941.74	6.69	15.98	12.00
2.	RVNL	207.00	47.98	43159.92	0.34	159.52	18.73	4321.23	10.55	10.81	4.41
3.	KPIL	1408.65	21.17	24055.87	0.78	311.53	45.85	6407.97	3.84	18.95	8.77
4.	IRB	19.07	24.14	23032.75	1.36	3062.70	1412.58	21372.72	918.25	7.72	53.93
5.	CEMPRO	1268.60	36.23	21792.97	0.24	140.83	2.64	2720.92	7.02	33.53	10.09
6.	ENGINERSIN	273.15	19.58	15352.19	1.83	157.94	141.49	819.84	-5.80	30.94	20.61
7.	TECHNOE	983.20	26.53	11434.57	0.71	93.33	-31.44	630.34	19.84	14.86	15.79
8.	WELENT	782.45	35.43	10830.19	0.38	56.36	-44.29	773.72	-8.44	16.44	19.49
9.	IRCON	115.10	20.67	10825.34	1.65	92.03	-43.92	1955.83	9.49	10.15	9.81
10.	KEC	392.85	18.89	10457.67	1.40	72.62	-41.72	5023.54	0.01	16.35	5.79
11.	AFCONS	274.30	69.72	10088.33	0.73	303.00	120.52	26710.00	692.49	12.88	9.42
12.	SWSOLAR	182.00	0.00	4250.45	0.00	53.27	37.68	1590.13	-9.74	-5.66	4.95

Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	384	642	541	1,140	885	996	1,487	2,018	1,363	1,276	1,806	1,719	1,487
	401	634	532	1,085	833	954	1,412	1,912	1,291	1,271	1,720	1,624	1,431
Operating Profit	-17	8	9	55	52	42	75	107	73	5	85	95	56
OPM %	-4.53%	1.23%	1.64%	4.83%	5.92%	4.20%	5.06%	5.29%	5.32%	0.41%	4.72%	5.53%	3.77%
	48	68	62	93	52	71	48	34	63	-2,592	33	-127	15
Interest	52	55	61	24	19	25	31	31	29	33	46	44	39
Depreciation	2	2	3	3	3	2	2	2	2	2	3	3	3
Profit before Tax	-23	18	7	121	83	86	90	107	104	-2,623	70	-78	71
Tax %	-0.00%	17.20%	7.64%	26.83%	11.31%	12.44%	13.75%	14.06%	24.44%	1.49%	-4.80%	0.19%	4.26%
Net Profit	-23	15	6	89	74	75	77	92	78	-2,584	73	-78	68
	-1.20	0.78	0.32	3.81	3.16	3.21	3.32	3.95	3.36	-110.63	3.13	-3.35	2.90

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	6,126	8,210	4,537	3,176	3,460	1,458	2,706	5,387	6,164	6,288
	5,884	7,943	4,273	3,386	3,679	1,869	2,644	5,101	5,896	6,046
Operating Profit	242	267	264	-210	-219	-411	62	286	268	241
OPM %	3.94%	3.26%	5.82%	-6.60%	-6.33%	-28.20%	2.28%	5.30%	4.34%	3.84%
	25	155	372	154	102	214	271	205	-2,624	-2,672
Interest	62	116	198	79	81	143	200	116	161	162
Depreciation	2	3	6	8	8	7	9	10	10	10
Profit before Tax	202	304	431	-143	-205	-347	123	366	-2,527	-2,560
Tax %	34.77%	35.50%	26.60%	21.89%	18.45%	-2.32%	29.33%	12.98%	0.68%	1.54%
Net Profit	132	196	317	-111	-168	-355	87	318	-2,510	-2,521
EPS	0.00	12.23	19.75	-6.95	-9.99	-18.72	3.74	13.63	-107.50	—
Dividend Payout %	0.00%	0.00%	30.39%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	—

COMPOUNDED SALES GROWTH

10 Years:: —
5 Years:: 14%
3 Years:: 62%

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: —
3 Years:: —

STOCK PRICE CAGR

10 Years:: —
5 Years:: -12%
3 Years:: -22%
1 Year:: -32%

RETURN ON EQUITY

10 Years:: —
5 Years:: -35%
3 Years:: -43%
Last Year:: -145%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	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
	219	423	686	496	1,479	1,143	2,651	2,981	432
	67	1,175	604	392	359	1,850	349	603	604
Trade Payables	2,902	2,626	2,307	2,380	1,443	329	1,232	2,200	2,174
	711	478	596	535	567	615	1,363	1,171	1,497
Total Liabilities	3,914	4,717	4,209	3,819	3,867	3,956	5,619	6,978	4,729
	10	12	28	34	28	33	47	39	38
Capital Work in Progress	0	0	2	0	0	0	0	0	0
	4	6	4	371	371	371	371	804	560
	19	12	15	3	4	2	1	3	2
	0	0	0	0	0	0	650	1,099	1,613
Cash & Bank	40	315	193	169	380	59	285	468	364
	3,842	4,373	3,967	3,242	3,084	3,492	4,264	4,565	2,152
Total Assets	3,914	4,717	4,209	3,819	3,867	3,956	5,619	6,978	4,729

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	425	238	-151	51	-1,257	-558	1,072	-21	321
Cash from Investing	-51	-935	964	225	500	-1,088	-702	-188	-562
Cash from Financing	-257	1,056	-821	-275	982	1,346	-85	320	104
	39	270	-129	-59	222	-322	240	114	-176

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	52.91	45.75	45.73	45.73	45.73	45.72	45.72	45.72	45.72
	10.07	14.08	10.39	8.43	8.41	7.11	7.19	6.97	5.07
	9.08	9.70	9.82	7.50	5.02	3.18	2.98	3.19	4.80
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	27.94	30.47	34.05	38.33	40.83	44.00	44.11	44.12	44.41

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-10

Pendency of Litigation(s)/dispute(s) or the outcome impacting the Company

2026-09-10 - Sterling and Wilson Renewable Energy Limited has informed the Exchange about update on material litigation(s) or dispute(s) or the outcome impacting the Company

2026-08-24

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-24 - Sterling and Wilson Renewable Energy Limited has informed the Exchange about Schedule of meet

2026-07-31

Resignation of Director/KMP/SMP

2026-07-31 - Sterling and Wilson Renewable Energy Limited has informed the Exchange about Resignation of Director/KMP/SMP

2026-07-31

Resignation

2026-07-31 - Sterling and Wilson Renewable Energy Limited has informed the Exchange regarding Resignation of Sandeep Mathew as Other of the company w.e.f. July 31, 2026.

2026-07-31

Credit Rating

2026-07-31 - Sterling and Wilson Renewable Energy Limited has informed the Exchange about Credit Rating

2026-07-24

Analysts/Institutional Investor Meet/Con. Call Updates

2026-07-24 - Sterling and Wilson Renewable Energy Limited has informed the Exchange about Transcript of the Investors Call held July 17, 2026, on the Unaudited Standalone and Consolidated Financial results of the Company for the quarter ended June 30, 2026

2026-07-23

Disclosure under SEBI Takeover Regulations

2026-07-23 - Khurshed Yazdi Daruvala has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

2026-07-17

Analysts/Institutional Investor Meet/Con. Call Updates

2026-07-17 - Sterling and Wilson Renewable Energy Limited has informed the Exchange about Link of audio recording of the Investors/ Analysts conference call on the Unaudited Consolidated and Standalone Financial results of the Company for the quarter ended June 30, 2026

2026-07-17

Copy of Newspaper Publication

2026-07-17 - Sterling and Wilson Renewable Energy Limited has informed the Exchange about Copy of Newspaper Publication on the Unaudited Standalone and Consolidated Financial Results of the Company for the quarter ended June 30, 2026

News

Recent coverage and analyst commentary for SWSOLAR

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Sterling and Wilson Renewable Energy Ltd.

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Name

3925.00

32.55

540027.44

0.97

4988.03

15.51

67941.74

6.69

15.98

12.00

RVNL

207.00

47.98

43159.92

0.34

159.52

18.73

4321.23

10.55

10.81

4.41

KPIL

1408.65

21.17

24055.87

0.78

311.53

45.85

6407.97

3.84

18.95

8.77

IRB

19.07

24.14

23032.75

1.36

3062.70

1412.58

21372.72

918.25

7.72

53.93

CEMPRO

1268.60

36.23

21792.97

0.24

140.83

2.64

2720.92

7.02

33.53

10.09

ENGINERSIN

273.15

19.58

15352.19

1.83

157.94

141.49

819.84

-5.80

30.94

20.61

TECHNOE

983.20

26.53

11434.57

0.71

93.33

-31.44

630.34

19.84

14.86

15.79

WELENT

782.45

35.43

10830.19

0.38

56.36

-44.29

773.72

-8.44

16.44

19.49

IRCON

115.10

20.67

10825.34

1.65

92.03

-43.92

1955.83

9.49

10.15

9.81

KEC

392.85

18.89

10457.67

1.40

72.62

-41.72

5023.54

0.01

16.35

5.79

AFCONS

274.30

69.72

10088.33

0.73

303.00

120.52

26710.00

692.49

12.88

9.42

SWSOLAR

182.00

0.00

4250.45

0.00

53.27

37.68

1590.13

-9.74

-5.66

4.95

Jun 2023

Sep 2023

Dec 2023

Mar 2024

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

384

642

541

1,140

885

996

1,487

2,018

1,363

1,276

1,806

1,719

1,487

401

634

532

1,085

833

954

1,412

1,912

1,291

1,271

1,720

1,624

1,431

Operating Profit

-17

107

OPM %

-4.53%

1.23%

1.64%

4.83%

5.92%

4.20%

5.06%

5.29%

5.32%

0.41%

4.72%

5.53%

3.77%

-2,592

-127

Interest

Depreciation

Profit before Tax

-23

121

107

104

-2,623

-78

Tax %

-0.00%

17.20%

7.64%

26.83%

11.31%

12.44%

13.75%

14.06%

24.44%

1.49%

-4.80%

0.19%

4.26%

Net Profit

-23

-2,584

-78

-1.20

0.78

0.32

3.81

3.16

3.21

3.32

3.95

3.36

-110.63

3.13

-3.35

2.90

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

TTM

6,126

8,210

4,537

3,176

3,460

1,458

2,706

5,387

6,164

6,288

5,884

7,943

4,273

3,386

3,679

1,869

2,644

5,101

5,896

6,046

Operating Profit

242

267

264

-210

-219

-411

286

268

241

OPM %

3.94%

3.26%

5.82%

-6.60%

-6.33%

-28.20%

2.28%

5.30%

4.34%

3.84%

155

372

154

102

214

271

205

-2,624

-2,672

Interest

116

198

143

200

116

161

162

Depreciation

Profit before Tax

202

304

431

-143

-205

-347

123

366

-2,527

-2,560

Tax %

34.77%

35.50%

26.60%

21.89%

18.45%

-2.32%

29.33%

12.98%

0.68%

1.54%

Net Profit

132

196

317

-111

-168

-355

318

-2,510

-2,521

EPS

0.00

12.23

19.75

-6.95

-9.99

-18.72

3.74

13.63

-107.50

—

Dividend Payout %

0.00%

30.39%

0.00%

—

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Equity Capital

219

423

686

496

1,479

1,143

2,651

2,981

432

1,175

604

392

359

1,850

349

603

604

Trade Payables

2,902

2,626

2,307

2,380

1,443

329

1,232

2,200

2,174

711

478

596

535

567

615

1,363

1,171

1,497

Total Liabilities

3,914

4,717

4,209

3,819

3,867

3,956

5,619

6,978

4,729

Capital Work in Progress

371

804

560

650

1,099

1,613

Cash & Bank

315

193

169

380

285

468

364

3,842

4,373

3,967

3,242

3,084

3,492

4,264

4,565

2,152

Total Assets

3,914

4,717

4,209

3,819

3,867

3,956

5,619

6,978

4,729

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

425

238

-151

-1,257

-558

1,072

-21

321

Cash from Investing

-51

-935

964

225

500

-1,088

-702

-188

-562

Cash from Financing

-257

1,056

-821

-275

982

1,346

-85

320

104

270

-129

-59

222

-322

240

114

-176

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

52.91

45.75

45.73

45.72

10.07

14.08

10.39

8.43

8.41

7.11

7.19

6.97

5.07

9.08

9.70

9.82

7.50

5.02

3.18

2.98

3.19

4.80

Government

0.00

27.94

30.47

34.05

38.33

40.83

44.00

44.11

44.12

44.41

Sterling and Wilson Renewable Energy Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI

Sterling and Wilson Renewable Energy Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI