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Sterling and Wilson Overview

Sterling and Wilson Renewable Energy Ltd offers engineering, procurement, and construction (EPC) offerings to solar power initiatives. The organization’s EPC services on the whole comprises the layout and engineering, procurement, inspection and audit, construction, and field quality monitoring. It additionally gives operations and protection services to third-party projects. In addition, the organisation imports, exports, and trades in solar modules, systems, invertors, and related accessories. Further, it engages inside the set up and ...Read More

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Sterling and Wilson Key Financials

Market Cap ₹4530 Cr.

Stock P/E 52.9

P/B 9.6

Current Price ₹194

Book Value ₹ 20.2

Face Value 1

52W High ₹348.9

Dividend Yield 0%

52W Low ₹ 148.3

Sterling and Wilson Share Price

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Volume
Price

Sterling and Wilson Quarterly Price

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Sterling and Wilson Peer Comparison

Sterling and Wilson Quarterly Results

#(Fig in Cr.) Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025
Net Sales 760 583 1178 915 1030 1837 2519 1762 1749 2092
Other Income 17 27 33 13 34 5 -13 21 111 19
Total Income 777 610 1211 928 1064 1843 2506 1783 1860 2111
Total Expenditure 758 599 1149 890 1012 1767 2386 1676 1745 2025
Operating Profit 19 11 63 38 52 76 121 107 115 86
Interest 64 68 25 19 28 31 31 29 36 47
Depreciation 4 4 4 4 4 3 3 3 3 3
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 -580 -31
Profit Before Tax -50 -61 34 15 20 41 87 75 -503 4
Provision for Tax 5 2 32 10 12 24 32 36 -26 3
Profit After Tax -55 -62 1 5 9 17 55 39 -478 2
Adjustments 0 -1 0 -1 -2 -2 0 -7 4 -4
Profit After Adjustments -54 -64 1 4 7 15 55 32 -473 -3
Adjusted Earnings Per Share -2.9 -2.7 0.1 0.2 0.3 0.6 2.4 1.4 -20.3 -0.1

Sterling and Wilson Profit & Loss

#(Fig in Cr.) Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 TTM
Net Sales 6872 8240 5575 5081 5199 2015 3035 6302 8122
Other Income 13 210 303 158 95 111 85 40 138
Total Income 6884 8450 5879 5239 5294 2126 3121 6341 8260
Total Expenditure 6277 7530 5203 5458 6102 3139 3043 6038 7832
Operating Profit 608 920 676 -219 -808 -1013 78 304 429
Interest 76 153 264 105 87 151 234 127 143
Depreciation 3 8 14 17 15 15 17 14 12
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 -611
Profit Before Tax 529 759 399 -340 -910 -1179 -172 163 -337
Provision for Tax 78 121 94 -50 6 -4 38 77 45
Profit After Tax 451 638 304 -290 -916 -1175 -211 86 -382
Adjustments 2 1 6 5 6 5 -1 -4 -7
Profit After Adjustments 452 639 310 -285 -909 -1170 -212 81 -389
Adjusted Earnings Per Share 28.2 39.8 19.3 -17.8 -47.9 -61.7 -9.1 3.5 -16.6

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR 108% 7% 2% 0%
Operating Profit CAGR 290% 0% -15% 0%
PAT CAGR 0% 0% -22% 0%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR -33% -13% -9% NA%
ROE Average 9% -131% -109% -20%
ROCE Average 17% -15% -25% 14%

Sterling and Wilson Balance Sheet

#(Fig in Cr.) Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Shareholder's Funds 197 841 1081 662 917 -225 969 1007
Minority's Interest -3 -3 -8 -4 -11 -15 -14 -13
Borrowings 0 0 0 0 0 700 246 524
Other Non-Current Liabilities -5 -24 -7 -85 -67 -68 -10 48
Total Current Liabilities 4798 4732 4252 3016 2561 2700 3046 4039
Total Liabilities 4986 5546 5318 3589 3399 3092 4237 5605
Fixed Assets 21 31 45 46 42 44 56 46
Other Non-Current Assets 9 4 18 57 50 74 59 381
Total Current Assets 4955 5511 5255 3485 3307 2974 4121 5179
Total Assets 4986 5546 5318 3589 3399 3092 4237 5605

Sterling and Wilson Cash Flow

#(Fig in Cr.) Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Opening Cash & Cash Equivalents 0 95 421 463 220 458 48 296
Cash Flow from Operating Activities 251 -723 338 201 -1690 -1829 538 38
Cash Flow from Investing Activities -19 -929 1013 409 949 -12 -5 -75
Cash Flow from Financing Activities -141 1972 -1313 -853 978 1431 -286 317
Net Cash Inflow / Outflow 91 320 38 -243 237 -410 248 280
Closing Cash & Cash Equivalent 95 421 463 220 458 48 296 575

Sterling and Wilson Ratios

# Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Earnings Per Share (Rs) 28.2 39.85 19.33 -17.79 -47.94 -61.65 -9.09 3.49
CEPS(Rs) 28.29 40.29 19.86 -17.05 -47.5 -61.16 -8.33 4.28
DPS(Rs) 0 0 6 0 0 0 0 0
Book NAV/Share(Rs) 12.26 52.44 67.39 41.26 48.13 -12.24 41.3 43.01
Core EBITDA Margin(%) 8.66 8.62 6.69 -7.42 -17.37 -55.76 -0.24 4.19
EBIT Margin(%) 8.8 11.06 11.87 -4.63 -15.83 -50.99 2.02 4.59
Pre Tax Margin(%) 7.69 9.21 7.15 -6.69 -17.51 -58.5 -5.68 2.58
PAT Margin (%) 6.56 7.75 5.46 -5.71 -17.61 -58.31 -6.94 1.36
Cash Profit Margin (%) 6.6 7.84 5.71 -5.38 -17.33 -57.58 -6.4 1.59
ROA(%) 9.04 12.12 5.6 -6.51 -26.21 -36.2 -5.75 1.74
ROE(%) 229.17 123.02 31.66 -33.28 -116.29 -345.11 -57.67 8.7
ROCE(%) 158.77 52.86 24.64 -13.69 -66.31 -65.41 3.8 17.26
Receivable days 96.75 82.42 128.66 103.42 57.32 142.58 97.52 60.4
Inventory Days 0.99 0.7 0.91 0.63 0.25 0.5 0.16 0.11
Payable days 232.97 170.63 202.39 237.03 242.02 307.62 202.42 169.54
PER(x) 0 0 3.98 0 0 0 0 71.81
Price/Book(x) 0 0 1.14 6.24 6.59 -23.87 12.68 5.82
Dividend Yield(%) 0 0 7.8 0 0 0 0 0
EV/Net Sales(x) 0.01 0.22 0.35 0.85 1.14 3.7 4.07 0.96
EV/Core EBITDA(x) 0.16 1.95 2.9 -19.72 -7.36 -7.37 158.2 19.88
Net Sales Growth(%) 0 19.92 -32.34 -8.87 2.33 -61.24 50.64 107.61
EBIT Growth(%) 0 50.83 -27.39 -135.51 -250.09 -24.85 105.98 371.24
PAT Growth(%) 0 41.66 -52.33 -195.32 -215.74 -28.3 82.06 140.59
EPS Growth(%) 0 41.31 -51.49 -192.04 -169.46 -28.6 85.26 138.38
Debt/Equity(x) 0.94 2.65 1.13 0.71 0.48 -8.68 0.49 0.9
Current Ratio(x) 1.03 1.16 1.24 1.16 1.29 1.1 1.35 1.28
Quick Ratio(x) 1.03 1.16 1.23 1.15 1.29 1.1 1.35 1.28
Interest Cover(x) 7.97 5.97 2.51 -2.24 -9.44 -6.79 0.26 2.28
Total Debt/Mcap(x) 0 0 0.99 0.11 0.07 0.36 0.04 0.15

Sterling and Wilson Shareholding Pattern

# Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025
Promoter 67.56 52.98 52.94 52.91 45.75 45.73 45.73 45.73 45.72 45.72
FII 3.38 11.91 10.5 10.07 14.08 10.4 8.44 8.42 7.1 7.19
DII 5.94 9.76 10.64 9.08 9.7 9.82 7.5 5.02 3.17 2.98
Public 23.13 25.34 25.92 27.94 30.47 34.05 38.33 40.83 44 44.11
Others 0 0 0 0 0 0 0 0 0 0
Total 100 100 100 100 100 100 100 100 100 100

Sterling and Wilson News

Sterling and Wilson Pros & Cons

Pros

  • Debtor days have improved from 202.42 to 169.54days.

Cons

  • Promoter holding is low: 45.72%.
  • Company has a low return on equity of -131% over the last 3 years.
  • Stock is trading at 9.6 times its book value.
  • The company has delivered a poor profit growth of -22% over past five years.
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