āagman

Not investment advice. Data and computed figures, for information only.

Sterling & Wilson Renewable Energy Ltd

NSE: SWSOLAR
₹174.96
+₹3.22 (+1.87%)
NSE · 15 Oct 2026, close
NSE
As of 31 Mar 2026
Market Cap
₹3,786 Cr
CMP
₹174.96
52-wk High / Low
₹261 / 148
P/E
12.1
P/B
5.8
Book Value
₹27.8
Div Yield
0.00%
ROCE
27.0%
ROE
40.1%
Face Value
₹1
D/E
1.84

Price−29.9% over 1Y

āagman read

Computed by āagman
Derived from 9 years and 13 quarters of filings. Not reported by the company.
As of 15 Oct 2026
How we compute these
Piotroski F-Score
3
/ 9
3 of 9 F-score tests passed
ROIC
16.5%
vs 11.1% sector median
Cash flow to profit
0.87
CFO / PAT
Above 1.0 = operating cash flow exceeded reported profit
Margin change
+14
bps OPM YoY
Operating margin vs the same quarter last year
Sustainable growth
40.1%
ROE × earnings retention ratio
ROE stability
39.7
pp σ
Standard deviation of ROE across periods. Lower = more stable
Holder deltas
QoQ
pp
Prom +0.00FII −1.89DII +1.61
Latest quarter vs the previous one
Cash-accrual divergence
−0.7%
of assets
Low = accruals track cash flow
Strengths
+FII holding rose by 0.9pp over the last year
+PE of 12.1x is below the sector median of 21x
Watch-outs
−Price trades below its 200-day moving average (0.9x)
−Price is 32.9% below its 52-week high
−Promoter holding fell by 27.0pp over the last year
−Piotroski F-Score of 3/9 is in the weak band (≤3)

Peer comparison

Peers
NameP/EMar Cap ₹ CrROCE %ROE %

Quarterly results

Consolidated basis (as filed) · ₹ Cr · 13 quarters
As of 30 Jun 2026
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales5157605831,1789151,0301,8372,5191,7621,7492,0921,9461,590
Expenses5527585991,1498901,0121,7672,3861,6761,7452,0251,8001,511
Operating Profit−371−16292518701348546714679
OPM %−7.2%0.1%−2.7%2.5%2.7%1.7%3.8%5.3%4.8%0.2%3.2%7.5%5.0%
Other Income717273313345−1321−469−125320
Interest62646825192831312936474239
Depreciation3444443333333
Profit before tax−95−50−61341520418775−503415457
Net Profit−95−55−62159175539−478214253
EPS (₹)−5.03−2.86−2.730.060.180.300.642.371.37−20.26−0.125.762.32

Profit & Loss

As of 30 Jun 2026
Consolidated · ₹ Cr · 9 years + TTM
Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales6,8728,2405,5755,0815,1992,0153,0356,3027,5487,377
Expenses6,3307,5825,2465,4586,1023,1393,0436,0387,2347,081
Operating Profit542658329−377−903−1,124−7264314295
OPM %7.9%8.0%5.9%−7.4%−17.4%−55.8%−0.2%4.2%4.2%4.0%
Other Income13209303158951118540−408−408
Interest2310022010587151234127165164
Depreciation381417151517141112
Profit before tax529759398−340−910−1,179−172163−270−288
Net Profit451638304−290−916−1,175−21186−296−281
EPS (₹)281.9839.8519.34−17.80−47.94−61.65−9.093.49−13.25−12.30

Balance Sheet

As of 30 Jun 2026
Consolidated · ₹ Cr
Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Jun 2026
Equity Capital161616161919232323—
Reserves1818251,065646898−244946984626—
Borrowings1842,2281,2344794462,0305169361,191—
Other Liabilities4,5402,3232,7192,5682,1371,3862,8163,6873,476—
Total Liabilities4,9205,3925,0343,7093,5003,1904,3015,6305,317—
Fixed Assets213145464244564641—
CWIP304000000—
Investments000000000—
Other Assets4,8965,3604,9853,6633,4573,1464,2445,5845,276—
Total Assets4,9205,3925,0343,7093,5003,1904,3015,6305,317—

Cash Flows

As of 31 Mar 2026
Consolidated · ₹ Cr
Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity251−723338201−1,690−1,82953838−257
Cash from Investing Activity−15−9241,018409949−12−5−75−107
Cash from Financing Activity−1411,972−1,313−8539781,431−286317103
Net Cash Flow9532543−243238−410248280−261

Ratios

As of 31 Mar 2026
9 periods
Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %—50.023.0−14.0−66.0−65.04.017.027.0
ROE %————————40.1
EPS (₹)281.9839.8519.34−17.80−47.94−61.65−9.093.49−13.25
Book Value (₹)————————27.8
Face Value (₹)————————1
P/E————————12.1
Div Yield %————————0.00
NPM %6.67.65.2−5.5−17.3−55.3−6.81.4−4.1
OPM %8.08.06.0−7.0−17.0−56.0−0.24.24.2
D/E0.932.651.140.720.49—0.530.931.84
P/B————————5.8

Growth

As of 11 Oct 2026
Compounded sales growth
5 years+8.0%
3 years+55.0%
TTM+3.0%
Compounded profit growth
5 years+26.0%
3 years+32.0%
TTM+186.0%
Stock price CAGR
5 years−19.0%
3 years−19.0%
Last year−35.0%
Return on equity
5 years−57.0%
3 years9.0%
Last year40.0%

Shareholding pattern

As of 30 Jun 2025
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025
Promoters77.22%77.22%69.36%78.56%72.73%52.94%45.74%45.73%45.73%
FIIs10.46%10.46%6.58%2.33%4.13%10.50%8.43%6.96%5.07%
DIIs4.92%4.92%4.40%3.17%5.55%10.64%7.50%3.19%4.80%
Government—————————
Public7.40%7.40%19.66%15.94%17.61%25.91%38.33%44.12%44.41%
No. of shareholders33,30533,30543,2091,56,5941,54,1501,96,3083,40,0263,37,6943,29,077
Change since Jun 2023 (pp)
Promoters −31.49FIIs −5.39DIIs −0.12Public +37.01

Documents

As of 11 Oct 2026
Announcements
Board Meeting Intimation for Consideration And Approval Of The Unaudited (Consolidated And Standalone) Financial Results Of The Company For The Quarter And Half Year Ended September 30, 2026Closure of Trading WindowIntimation Under Regulation 30 Of The SEBI (LODR) Regulations, 2015Disclosure Of Information Under Regulation 30 Of The SEBI (LODR) Regulations, 2015Announcement under Regulation 30 (LODR)-Press Release / Media Release
Annual reports
Annual Report 2026Annual Report 2025Annual Report 2024Annual Report 2023Annual Report 2022
Credit ratings
Rating updateRating updateRating updateRating updateRating update
Concalls
Jul 2026TranscriptJul 2026PPTJul 2026RecordingApr 2026TranscriptApr 2026PPTApr 2026RecordingJan 2026TranscriptJan 2026PPTJan 2026RecordingOct 2025TranscriptOct 2025PPTOct 2025RecordingJul 2025TranscriptJul 2025PPTJul 2025Recording

Corporate actions

As of 24 Feb 2020
24 Feb 2020DIVIDEND Interim Dividend - Rs 6 Per Share—
Fundamentals from a third-party compiler of exchange filings; prices from the exchanges. Not investment advice.© 2026 āagman