Construction
Sterling and Wilson Renewable Energy Limited engages in the provision of engineering, procurement, and construction (EPC) services to solar power projects. It operates through two segments, Engineering Procurement and Construction (EPC), and Operations and Maintenance (O&M). The EPC segment services primarily include design and engineering, procurement, inspection and audit, construction, and field quality monitoring; project managing, testing, commissioning, and connecting solar projects to the grid; anchoring and mooring, project planning, module and equipment floating structure installation, maintenance manual and design book issuance, and bathymetric and geotechnical assessment studies for floating solar projects; and hybrid energy storage solutions, such as solar and battery energy storage and standalone turnkey battery energy storage solutions. The O&M segment offers operations and maintenance services, and asset management solutions to EPC projects and third-party customers. It operates in 28 countries with operations in India, the Middle East, Africa, South-East Asia, the United States, Australia, Philippines, Thailand, Europe, South America, and Latin America. The company was formerly known as Sterling and Wilson Solar Limited and changed its name to Sterling and Wilson Renewable Energy Limited in November 2021. Sterling and Wilson Renewable Energy Limited was founded in 2011 and is based in Mumbai, India.
Technicals: Bullish SharesGuru indicator.
Size: Market Cap wise it is among the top 20% companies of india.
Smart Money: Smart money is losing interest in the stock.
Comprehensive comparison against sector averages
SWSOLAR metrics compared to Construction
Category | SWSOLAR | Construction |
---|---|---|
PE | 227.13 | 31.50 |
PS | 1.44 | 1.59 |
Growth | 152.9 % | 7.3 % |
SWSOLAR vs Construction (2021 - 2025)
Summary of STERLING AND WILSON RENEWABLE ENERGY's latest earnings call, featuring management's outlook on business performance, financial results, and analyst Q&A sessions that highlight key strategic initiatives and market challenges.
Last updated: Jan 25
Management Outlook and Key Highlights:
Order Book & Inflows:
Industry Outlook:
Financial Performance:
Balance Sheet & Liquidity:
Strategic Projects:
O&M Growth:
Key Risks: Customer-driven delays, slower-than-expected limit relaxations, and lumpy order inflows. Management remains optimistic on India's solar EPC growth and margin stability.
Last updated: Jan 25
Question: "You said Q4 would be the best quarter of the year... So, if you do only INR3,000 crores, then you will not achieve the INR8,000 crores revenue guidance?"
Answer: The revised revenue expectation for FY25 is INR6,000"“6,500 crores due to customer-driven project timeline realignments (land acquisition, evacuation delays) and slower-than-expected progress in easing non-fund banking limits. Initial guidance of INR8,000 crores is no longer feasible.
Question: "Why the customer realignment? Earlier, there was confidence in achieving INR8,000 crores."
Answer: Delays stem from customer-side challenges like land acquisition and grid evacuation readiness, necessitating phased execution. These issues were unforeseen during earlier guidance.
Question: "Update on Reliance's BESS pilot and Nigeria project?"
Answer: Reliance's pilot is on track, with partial commissioning completed. Nigeria's order closure is pending procedural steps, with financial closure expected 6"“9 months post-signing.
Question: "How do PSU vs. private orders impact margins?"
Answer: Private orders (majority of recent wins) offer better margins due to selective bidding. PSU bids are competitive but prioritized for volume, with careful margin evaluation.
Question: "Breakdown of revenue slippage: customer delays vs. banking limits?"
Answer: Most slippage (~INR1,500 crores) is attributed to customer delays. Banking limits (INR4,500 crores usable) and supplier credit improvements support execution but couldn't offset timeline shifts.
Question: "FY26 revenue outlook excluding Reliance/Nigeria?"
Answer: Targeting INR8,000"“10,000 crores revenue in FY26, driven by a strong domestic bid pipeline and an exit run rate of INR2,300"“2,500 crores in Q4 FY25.
Question: "Status of litigation and GST case?"
Answer: A favorable Andhra Pradesh High Court ruling on GST (reversing 18% tax) may recover INR170 crores. Progress in an Australian dispute is expected next quarter.
Question: "Impact of BESS tariff disputes (e.g., JSW)?"
Answer: No losses anticipated; projects continue despite regulatory delays. Tariff renegotiations involve developers (e.g., SECI/JSW), not EPC execution.
Question: "Competitive pressures on margins?"
Answer: Margins remain stable (domestic: ~10%, international: ~11%) despite competition, aided by selective bidding and operational efficiency.
Question: "FY26 order inflow target?"
Answer: Aiming for INR10,000 crores in FY26, excluding Reliance/Nigeria, supported by India's robust solar pipeline and execution scalability.
Understand STERLING AND WILSON RENEWABLE ENERGY ownership landscape with insights into key distribution patterns, offering investors a clear view of stakeholder dynamics.
Shareholder Name | Holding % |
---|---|
Reliance New Energy Limited | 32.5% |
Shapoorji Pallonji And Company Private Limited | 6.94% |
Kainaz K Daruvala | 5.57% |
Aditya Birla Sun Life Insurance Company Limited | 2.49% |
Shalu Aggarwal | 1.31% |
Hsbc Flexi Cap Fund | 1.26% |
Bandhan Sterling Value Fund | 1.19% |
Pallon Shapoor Mistry | 0.31% |
Rohiqa Cyrus Mistry | 0.29% |
Khurshed Yazdi Daruvala | 0.13% |
Zenobia Farhad Unwalla | 0% |
Zarine Yazdi Daruvala | 0% |
Pervin Zarir Madan | 0% |
Distribution across major stakeholders
Distribution across major institutional holders
Analysis of STERLING AND WILSON RENEWABLE ENERGY's financial performance, highlighting revenue trends, growth patterns, and key metrics through quarterly analysis.
Last Updated: Dec 31, 2024
Description | Share | Value |
---|---|---|
EPC | 96.7% | 1.8 kCr |
O&M | 3.3% | 60.6 Cr |
Total | 1.8 kCr |
Investor Care | |
---|---|
Dividend Yield | 1.24% |
Dividend/Share (TTM) | 6 |
Shares Dilution (1Y) | 0.21% |
Diluted EPS (TTM) | 1.17 |
Financial Health | |
---|---|
Current Ratio | 1.39 |
Debt/Equity | 0.92 |
Debt/Cashflow | 0.69 |
Valuation | |
---|---|
Market Cap | 7.25 kCr |
Price/Earnings (Trailing) | 227.13 |
Price/Sales (Trailing) | 1.44 |
EV/EBITDA | 31.8 |
Price/Free Cashflow | 18.79 |
MarketCap/EBT | 66.22 |
Fundamentals | |
---|---|
Revenue (TTM) | 5.05 kCr |
Rev. Growth (Yr) | 201.92% |
Rev. Growth (Qtr) | 73.11% |
Earnings (TTM) | 31.94 Cr |
Earnings Growth (Yr) | 127.47% |
Earnings Growth (Qtr) | 100% |
Profitability | |
---|---|
Operating Margin | 2.17% |
EBT Margin | 2.17% |
Return on Equity | 3.35% |
Return on Assets | 0.65% |
Free Cashflow Yield | 5.32% |
Detailed comparison of STERLING AND WILSON RENEWABLE ENERGY against industry peers, highlighting key financial metrics, valuation ratios, and performance indicators to provide competitive context within the sector.
Ticker | Name | Mkt Cap | Revenue | Price %, 1M | Returns, 1Y | P/E | P/S | Rev 1-Yr | Inc 1-Yr |
---|---|---|---|---|---|---|---|---|---|
TATAPOWER | Tata Power Co.Integrated Power Utilities | 1.24 LCr | 66.01 kCr | +3.09% | -10.16% | 27.43 | 1.88 | +9.77% | +8.18% |
SUZLON | SUZLON ENERGYHeavy Electrical Equipment | 79.57 kCr | 9.38 kCr | +1.51% | +38.32% | 69.51 | 8.49 | +54.71% | +57.63% |
INOXWIND | Inox WindHeavy Electrical Equipment | 22.44 kCr | 2.95 kCr | +7.90% | +6.67% | 77.68 | 7.61 | +104.68% | +238.14% |
WAAREERTL | WAAREE RENEWABLE TechPower Generation | 11.93 kCr | 1.2 kCr | +11.56% | -64.52% | 72.29 | 12.06 | +80.30% | +88.71% |