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 ₹ 19,138 Cr.
- Current Price ₹ 821
- High / Low ₹ 823 / 253
- Stock P/E
- Book Value ₹ 41.6
- Dividend Yield 0.00 %
- ROCE 2.83 %
- ROE -56.7 %
- Face Value ₹ 1.00
Pros
- Company has reduced debt.
Cons
- Stock is trading at 19.8 times its book value
- Company has low interest coverage ratio.
- The company has delivered a poor sales growth of -18.1% over past five years.
- Company has a low return on equity of -152% over last 3 years.
- Promoters have pledged 37.2% of their holding.
- Earnings include an other income of Rs.85.4 Cr.
- Company's cost of borrowing seems high
- Promoter holding has decreased over last 3 years: -16.4%
* 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: Engineering Industry: Engineering - Turnkey Services
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
---|---|---|---|---|---|---|---|
6,872 | 8,240 | 5,575 | 5,081 | 5,199 | 2,015 | 3,035 | |
6,330 | 7,582 | 5,246 | 5,458 | 6,102 | 3,139 | 3,058 | |
Operating Profit | 542 | 658 | 329 | -377 | -903 | -1,124 | -23 |
OPM % | 8% | 8% | 6% | -7% | -17% | -56% | -1% |
13 | 209 | 303 | 158 | 95 | 111 | 85 | |
Interest | 23 | 100 | 220 | 105 | 87 | 151 | 219 |
Depreciation | 3 | 8 | 14 | 17 | 15 | 15 | 17 |
Profit before tax | 529 | 759 | 398 | -340 | -910 | -1,179 | -172 |
Tax % | 15% | 16% | 24% | 15% | -1% | 0% | -22% |
451 | 638 | 304 | -290 | -916 | -1,175 | -211 | |
EPS in Rs | 281.98 | 39.85 | 19.34 | -17.80 | -47.94 | -61.65 | -9.09 |
Dividend Payout % | 0% | 0% | 31% | 0% | 0% | 0% | 0% |
Compounded Sales Growth | |
---|---|
10 Years: | % |
5 Years: | -18% |
3 Years: | -16% |
TTM: | 51% |
Compounded Profit Growth | |
---|---|
10 Years: | % |
5 Years: | % |
3 Years: | 8% |
TTM: | 82% |
Stock Price CAGR | |
---|---|
10 Years: | % |
5 Years: | % |
3 Years: | 50% |
1 Year: | 186% |
Return on Equity | |
---|---|
10 Years: | % |
5 Years: | -68% |
3 Years: | -152% |
Last Year: | -57% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
---|---|---|---|---|---|---|---|
Equity Capital | 16 | 16 | 16 | 16 | 19 | 19 | 23 |
Reserves | 181 | 825 | 1,065 | 646 | 898 | -244 | 946 |
184 | 2,228 | 1,234 | 479 | 446 | 2,030 | 516 | |
4,540 | 2,323 | 2,719 | 2,568 | 2,137 | 1,386 | 2,816 | |
Total Liabilities | 4,920 | 5,392 | 5,034 | 3,709 | 3,500 | 3,190 | 4,301 |
21 | 31 | 45 | 46 | 42 | 44 | 56 | |
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 | 4,244 | |
Total Assets | 4,920 | 5,392 | 5,034 | 3,709 | 3,500 | 3,190 | 4,301 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
---|---|---|---|---|---|---|---|
251 | -723 | 338 | 201 | -1,690 | -1,829 | 538 | |
-15 | -924 | 1,018 | 409 | 949 | -12 | -5 | |
-141 | 1,972 | -1,313 | -853 | 978 | 1,431 | -286 | |
Net Cash Flow | 95 | 325 | 43 | -243 | 238 | -410 | 248 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
---|---|---|---|---|---|---|---|
Debtor Days | 97 | 84 | 133 | 61 | 55 | 143 | 100 |
Inventory Days | 1 | 0 | |||||
Days Payable | 253 | 283 | |||||
Cash Conversion Cycle | -155 | 84 | 133 | 61 | 55 | 143 | -183 |
Working Capital Days | 13 | 113 | 113 | 47 | 48 | 271 | 117 |
ROCE % | 50% | 23% | -14% | -66% | -65% |
Documents
Announcements
- Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 1d
- Disclosures under Reg. 31(1) and 31(2) of SEBI (SAST) Regulations, 2011. 1d
- Report Of The Monitoring Agency For The Quarter Ended March 31, 2024 14 May
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
13 May - The officials of the Company will be meeting Investors/Analysts as per the details below Date: Thursday, May 16, 2024 Type of Interaction: Group Meeting
- Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS 5 May
Annual reports
Concalls
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Apr 2024Transcript PPT REC
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Feb 2024Transcript PPT
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Jan 2024Transcript PPT REC
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Nov 2023Transcript PPT REC
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Jul 2023Transcript PPT REC
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Apr 2023Transcript PPT
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Jan 2023Transcript PPT
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Oct 2022Transcript PPT
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Jul 2022Transcript PPT
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Feb 2022Transcript PPT
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Nov 2021Transcript PPT
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Aug 2021Transcript PPT
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Jul 2021Transcript PPT
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Mar 2021Transcript PPT
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Feb 2021TranscriptPPT
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Nov 2020Transcript PPT
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Sep 2020TranscriptNotesPPT
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Sep 2020Transcript PPT
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Jun 2020Transcript PPT
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Feb 2020Transcript PPT
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Feb 2020TranscriptNotesPPT
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Feb 2020TranscriptNotesPPT
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Feb 2020TranscriptNotesPPT
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Nov 2019TranscriptNotesPPT
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.