Sterling and Wilson Renewable Energy Ltd Stock Analysis

BSE: 542760 | NSE: SWSOLAR | Engineering - Construction | Small Cap

BSE Share Price 09-Jun-2023 17:49
315.00 0.75 (0.24%)

DeciZen - Make an Informed Decision on Sterling and Wilson

Overall Rating

1. Quality

2. Valuation


3. Price Trend

Sterling and Wilson Price Chart

P/E Ratio ( CD) :
Market Cap :
5,961.1 Cr.
52-wk low :
52-wk high :
Bole Toh?

1. Is Sterling and Wilson Renewable Energy Ltd a good quality company?

Past 10 year's financial track record analysis by Moneyworks4me indicates that Sterling and Wilson Renewable Energy Ltd is a average quality company.

2. Is Sterling and Wilson Renewable Energy Ltd undervalued or overvalued?

The key valuation ratios of Sterling and Wilson Renewable Energy Ltd's currently when compared to its past seem to suggest it is in the Fair zone.

3. Is Sterling and Wilson Renewable Energy Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Strong which suggest that the price of Sterling and Wilson Renewable Energy Ltd is likely to Rise in the short term. However, please check the rating on Quality and Valuation before investing

10 Year X-Ray of Sterling and Wilson:

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Sterling and Wilson Renewable Energy Ltd has performed well in some of the past ten years indicating its past ten year financial track record is somewhat good

Value Creation

Value Creation Index Colour Code Guide

ROCE % 0%0%0%0%0%137.5%42%18.1%-5.5%-60%-
Value Creation Index NANANANANA9.22.10.3-1.4-5.5-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 000006,8728,2405,5755,0815,1992,015
YoY Gr. Rt. %-NANANANANA19.9%-32.3%-8.9%2.3%-
Adj EPS 0000029.138.418.7-13.5-45.4-61.7
YoY Gr. Rt. %-NANANANANA31.9%-51.4%-172.4%NA-
BVPS (₹) 0000012.352.467.441.348.1-9
Adj Net Profit 00000467615299-217-862-1,170
Cash Flow from Ops. 00000251-723338201-1,690-
Debt/CF from Ops. 000000.7-


CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales NANA-14.2%2.3%
Adj EPS NANA-205.8%NA
BVPS 00-2.816.7
Share Price - - 24.7% -4.4%

Key Financial Parameters

Performance Ratio Colour Code Guide

Return on Equity % 00000237.3118.631.2-24.9-109.2-314.9
Op. Profit Mgn % 0000098.66.8-4.1-14.3-56.1
Net Profit Mgn % 000006.87.55.3-4.4-16.7-58
Debt to Equity 000000.
Working Cap Days 0000002203222882143,026
Cash Conv. Cycle 000000-48-15-39-44278

Recent Performance Summary

Debt to equity has declined versus last 3 years average to 0.48

Return on Equity is Poor

Sales growth has been subdued in last 3 years -14.23%

Sales growth is not so good in last 4 quarters at -60.44%

Latest Financials - Sterling and Wilson Renewable Energy Ltd.

Standalone Consolidated
TTM EPS (₹) -18.7 -61.7
TTM Sales (₹ Cr.) 1,458 2,015
BVPS (₹.) 61.6 -9
Reserves (₹ Cr.) 1,150 -189
P/BV 5.10 -34.94
PE 0.00 0.00
From the Market
52 Week Low / High (₹) 255.25 / 362.10
All Time Low / High (₹) 69.75 / 755.50
Market Cap (₹ Cr.) 5,961
Equity (₹ Cr.) 19
Face Value (₹) 1
Industry PE 30.5

Management X-Ray of Sterling and Wilson :

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *49.4353.6953.6960.8948.1830.8739.5040.8938.9339.52
* Pledged shares as % of Promoter's holding (%)

Event Update

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Analyst's Notes

Key Ratios of Sterling and Wilson

Adj EPS (Rs.)
Sales (Cr.)
ROE (%)
ROCE (%)


Sterling and Wilson Renewable Energy Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of Sterling and Wilson on 09-Jun-2023 17:49 is : 315.0.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 09-Jun-2023 17:49 the market cap of Sterling and Wilson stood at ₹ 5,961.1.
The latest PE ratio of Sterling and Wilson as of 09-Jun-2023 17:49 is 0.00.
The latest PB ratio of Sterling and Wilson as of 09-Jun-2023 17:49 is 5.10
The 52-week high of Sterling and Wilson is ₹ 362.1 and the 52-week low is ₹ 255.2.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue / sales of Sterling and Wilson is ₹ 1,458 ( Cr.) .

About Sterling and Wilson Renewable Energy Ltd

Sterling and Wilson Solar, the Solar EPC Division of Sterling and Wilson Private Limited, commenced operations in 2011 and was subsequently demerged in 2017. This division was formed to tap into the growing renewable energy market. The company is the leading solar EPC solutions provider in the world, with a presence across many countries. An impressive portfolio of several solar power projects with an aggregate capacity of 10.6 GWp across geographies has positioned Sterling and Wilson Solar as the leading solar EPC solutions provider in the world. Sterling and Wilson Solar strategically focuses on markets that have conducive solar power policies and high solar resources as well as invests in geographies with long-term solar opportunities.

The inception of Sterling and Wilson is deep-rooted in the legendary friendship between Shapoorji Mistry Sr. and Mehervan Daruvala which later evolved into a powerful business partnership. In 1971, Wilson Electric Works merged with Sterling Investments, a group company of the Shapoorji Pallonji Group, to form an EPC powerhouse called Sterling and Wilson. The decision empowered the company to ride on global opportunities and emerge as a leading market player in due course. The new entity Sterling and Wilson Private Limited commenced its operations in the 1970s with a few large-scale projects in the Middle East, further venturing into the Asian subcontinent and various other countries. Within a short span it created a strong presence in regions such as the Middle East, Africa, Europe, the Americas, and Australia. Sterling and Wilson currently has operations in many countries.

Business area of the company

Sterling and Wilson Solar is the largest pure-play Solar EPC outside China, and offers a complete range of Solar EPC solutions like design, engineering, procurement, construction, project management, and operations and maintenance.

Sub verticals

  • Utility-Scale
  • Solar Rooftop
  • Floating Solar
  • Solar PV + Energy Storage
  • Operation and Maintenance


  • 2014: Energize Award for ‘Excellence in Solar Power EPC’
  • 2014: Energise Award for ‘Excellence in Innovation in Solar Energy’
  • 2015: Intersolar Award (Solar Projects in India) for the 11 MWp Total Turnkey Solar Project in Maharashtra under JNNSM PH II
  • 2015: Certificate of special recognition in the category of ‘Excellence in EPC’
  • 2016: Trophy in the category of ‘Utility Scale Solar EPC Contractor’
  • 2016: Recognised for “immense contribution to the infrastructure sector” by Economic Times’ Best Infrastructure Brands
  • 2017: ‘Project of the Year’ by Middle Eastern Solar Industry Association at MESIA Solar Awards
  • 2017: Award for ‘Excellence in Renewable Energy Project Execution’ from Central Board of Irrigation and Power, India
  • 2017: RE Assets India’s Gold winner in the category of ‘Solar O&M Contractor of the Year - Roof top scale’
  • 2017: Certificate of honour as a ‘Leading EPC – Solar – Ground Based’
  • 2018: World’s EPC Excellence for Solar and Storage
  • 2018: Solar + Power Awards’ EPC of the Year
  • 2018: Specialist Contractor of the Year
  • 2018: Certificate of honour in the category ‘RE International Excellence - Indian Companies’
  • 2018: Certificate of honour as a ‘Leading EPC – Solar – Ground Based’
  • 2019: Renewables Company of the Year
  • 2020: ‘Utility-Scale Solar Project of the Year’ at MESIA Solar Awards
  • 2020: 'Utility Scale Project of the Year’ at AFSIA Solar Awards
  • 2020: MEED Project of the Year
  • 2020: Mega Project of the Year


  • 2011: Ventured into Solar EPC business in India
  • 2011: Secured EPC projects of 50 MWp
  • 2013: Completed first turnkey EPC project in Rajasthan, India
  • 2013: Started International Solar Operations
  • 2014: Commenced first international solar project (90 MWp) in South Africa
  • 2015: Largest single-axis tracker plant in India (60 MWp)
  • 2015: Recognised as the largest Indian solar EPC player according to an independent industry data provider
  • 2016: Ventured into Rooftop Solar
  • 2016: Started third-party O&M services
  • 2017: Demerger of S&W Solar from S&W Group
  • 2017: Expanded operations in the USA
  • 2017: Incorporated a Subsidiary in Spain to cater to European and Latin America markets
  • 2017: Bagged the world’s largest single- location EPC project order (1177 MWp) in Abu Dhabi
  • 2018: Diversification in Solar + Storage
  • 2018: Expanded operations in Australia by acquiring controlling stake in GCO Electrical Pty Ltd
  • 2019: Recognized as the world’s largest solar EPC solutions provider by IHS Markit
  • 2019: Emerged as a global player with presence and operations across India, Middle East, Africa, South East Asia, Europe, US and Australia.
  • 2019: Listed on BSE and NSE
  • 2019: Commissioned first floating solar project of 450KW in India
  • 2020: Ranked India 1 and Global 2 as per Wood Mackenzie’s 2020 Global PV Operations & Maintenance Report
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