Sterling and Wilson Renewable Energy Limited

NSE: SWSOLAR · Civil Construction

52W Range₹148 ₹273

Snapshot

Unlock Sterling and Wilson Renewable Energy Limited's vital signs

Growth · Profitability · Valuation · Strength · Conviction

Company Overview

Business

Sterling and Wilson Renewable Energy Limited is a global engineering, procurement, and construction (EPC) provider specialising in solar power projects. The company also offers operations and maintenance services and trades in solar components such as modules, structures, and inverters.

Business Model

The company generates revenue through end-to-end EPC contracts for solar power developers and independent power producers. Additionally, it earns income from long-term operations and maintenance contracts and the trading of solar energy equipment.

  • Operational Presence:24 countries

Growth Outlook

Growth is driven by the global transition towards renewable energy and the increasing demand for large-scale solar infrastructure. The company leverages its extensive international footprint to capture opportunities in emerging and established solar markets.

Key Risks

  • Project Execution Risk. Delays in large-scale solar projects due to logistical challenges or site-specific issues can significantly impact profitability.
  • Commodity Price Volatility. Fluctuations in the cost of solar modules, steel, and other raw materials can compress margins on fixed-price EPC contracts.
  • Geopolitical and Regulatory Risk. Operating across 24 countries exposes the company to varying international trade policies, import duties, and changing renewable energy regulations.
  • Competitive Intensity. The solar EPC sector is highly fragmented, leading to aggressive price competition that may pressure contract bidding margins.

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Key Metrics

REVENUE

₹7,377 Cr

TTM · consolidated

+3.2%YoY

NET PROFIT

₹-281 Cr

TTM · consolidated

-335.5%YoY

EPS

₹-12.31

TTM · consolidated

-363.0%YoY

RETURN ON EQUITY

-33.9%

TTM · consolidated

-45.8 ppYoY

RETURN ON CAPITAL EMPLOYED

-8.9%

TTM · consolidated

-30.4 ppYoY

P/E

-15.1x

Q1 FY27 · consolidated

-15.1 vs 0.4x5Y avg

EV/EBITDA

10.4x

Q1 FY27 · consolidated

10.4 vs 10.8x5Y avg

EBITDA MARGIN

6.8%

TTM · consolidated

+1.8 ppYoY

NET PROFIT MARGIN

3.4%

Q1 FY27 · consolidated

+1.2 ppYoY

DEBT TO EQUITY

1.8x

Q1 FY27 · consolidated

+0.89xYoY

Peers · Civil Construction

CompanyMkt CapP/EEV/EBITDARev Gr YoYEBITDA MgnROEROCE1Y Return
Sterling and Wilson Renewable Energy LimitedSWSOLAR
₹4,349 Cr-15.1310.443.2%6.8%-33.9%-8.9%-29.5%
Man Infraconstruction LimitedMANINFRA
₹5,038 Cr23.2417.00-29.9%44.3%10.7%13.4%-22.7%
PNC Infratech LimitedPNCINFRA
₹4,697 Cr6.426.09-6.5%26.2%11.4%10.9%-40.0%
Ahluwalia Contracts (India) LimitedAHLUCONT
₹4,013 Cr17.837.9212.0%10.0%11.7%14.8%-36.7%
Capital InfraCAPINVIT
₹3,767 Cr99.0%
J. Kumar Infraprojects LimitedJKIL
₹3,688 Cr9.684.53-2.5%15.8%11.9%19.0%-22.9%

As of Q1 FY27

Financials