On 6 Nov 2026, Sterling Powergensys was priced at ₹22.77, or 10.0× trailing earnings, against an industry P/E of 15.5×, and the shares are 47% below their 52-week high. Its ROCE of 38% is the highest among the 7 largest Solar peers. Debt is 1.72× equity. It is a small-cap company with a market cap of ₹12 Cr, ranked 27th of 27 Solar companies by market cap; the shares fell 34% over the past year.
- ₹22.83
- ₹23.40
- ₹22.00
- ₹22.72
- 1.4K
Health check
- ReturnsBehind
−34.3% over a year, better than 2 of 7 peers.
- Price tagCheaper
P/E 10.0 vs industry 15.5.
- GrowthStrong
Sales +316.1% a year over 3 years.
- ProfitabilityStrong
ROCE 38.0% vs peer median 27.4%.
- Balance sheetStretched
Debt 1.72× equity, interest covered 10.6×, Piotroski 6 of 9.
- Red flags3 to check
Debt is 1.72× equity.
Small cap
Defensive
Key metrics
- Market cap
- ₹12 Cr
- Small cap
- P/E
- 10.0
- Industry 15.5
- Price to book
- 9.55
- Peers 4.38
- Dividend yield
- 0.00%
- ROE
- 143.6%
- Peers 29.9%
- ROCE
- 38.0%
- Peers 27.4%
- Debt to equity
- 1.72
- Debt ₹2.20 Cr
- EPS (TTM)
- ₹2.27
- OPM (TTM)
- 4.3%
- Net margin 4.6%
- Sales growth
- −13.2%
- Latest quarter vs a year ago
- Profit growth
- n/a
- Year-ago quarter not reported
- Price to sales
- 0.51
- EV/EBITDA 8.9
Strengths and risks
Strengths
- Return on equity of 143.6%.
- Return on capital employed of 38.0%.
- P/E of 10.0 against an industry P/E of 15.5.
Risks to check
- Debt is 1.72× equity.
- Quarterly sales down 13.2% on a year ago.
- 47% below its 52-week high.
About Sterling Powergensys
Sterling Powergensys Limited engages in manufacturing of industrial boilers, thermal power plants in India. It offers commodities, electrolyser system and accessories, bearings; as well as solar solutions in solar products and EPC projects. The company was formerly known as Sterling Strips Limited and changed its name to Sterling Powergensys Limited in September 2014. Sterling Powergensys Limited was incorporated in 1984 and is based in Mumbai, India.
- Headquarters
- Mumbai
- Employees
- 8
- Sector
- Technology
- ISIN
- INE067E01013
- Website
- splsolar.in
Price range
- Avg volume (3M)
- 4.7K
- 1-year return
- minus 34.3%
- From 52-week high
- minus 47.0%
Peers · Solar
| Company | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| WAAREEENERWaaree Energies | 2,438.00 | minus 0.46% | 70,129 | 19.0 | 12.0 | 30.1% | 19.9% | 0.31 | 57.8% | minus 27.3% |
| PREMIERENEPremier Energies | 890.00 | plus 0.85% | 40,316 | 22.5 | 17.4 | 27.4% | 29.9% | 0.86 | 76.2% | minus 15.3% |
| EMMVEEEmmvee Photovoltaic Power | 251.31 | minus 0.28% | 17,399 | 12.1 | 9.7 | 34.5% | 34.7% | 0.25 | 102.7% | plus 14.5% |
| KARAMTARAKaramtara Engineering | 375.70 | minus 0.96% | 12,091 | 52.8 | 27.7 | 18.1% | 9.0% | 0.91 | 40.4% | plus 6.7% |
| UTLSOLARFujiyama Power Systems | 351.80 | minus 9.21% | 10,811 | 35.7 | 22.5 | 28.9% | 18.8% | 0.41 | 58.7% | plus 68.8% |
| BORORENEWBOROSIL RENEWABLES | 403.20 | minus 2.55% | 5,934 | 13.4 | 12.1 | 9.5% | 30.1% | 0.07 | 20.2% | minus 37.6% |
| VIKRAMSOLRVikram Solar | 142.39 | plus 1.95% | 5,160 | 14.1 | 6.0 | 20.5% | 15.4% | 0.20 | 32.3% | minus 56.6% |
| STERPOWSterling Powergensys | 22.77 | plus 0.22% | 12 | 10.0 | 13.4 | 38.0% | 4.3% | 1.72 | 316.1% | minus 34.3% |
| Median of 7 peers | – | −0.46% | 12,091 | 19.0 | 12.1 | 27.4% | 19.9% | 0.31 | 57.8% | −15.3% |
Quarterly results
| ₹ Cr | Jun 25 | Sep 25 | Dec 25 | Mar 26 | Jun 26 |
|---|---|---|---|---|---|
| 0.8 | 0.8 | 5.1 | 17.1 | 0.7 | |
| 0.9 | 1 | 5.3 | 15.5 | 0.9 | |
| −0.2 | −0.2 | −0.1 | 1.5 | −0.2 | |
| −19.2% | −24.2% | −2.8% | 9.0% | −24.6% | |
| 0.1 | 0 | 0 | 0.6 | 0.1 | |
| 0 | 0 | – | 0.1 | 0 | |
| 0.1 | −0 | 0 | 0 | 0 | |
| −0.2 | −0.2 | −0.1 | 2 | −0.1 | |
| – | – | – | 17.7% | – | |
| −0.2 | −0.2 | −0.1 | 1.6 | −0.1 | |
| -0.35 | -0.39 | -0.26 | 3.08 | -0.16 |
Profit & loss
- Sales CAGR 3Y
- +316.1%
- ROE
- 143.6%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 0.3 | 6.9 | 12.6 | 23.8 | |
| – | +1986.3% | +83.1% | +88.8% | |
| 0.6 | 7.3 | 13.5 | 22.7 | |
| −0.3 | −0.4 | −0.9 | 1.1 | |
| −83.9% | −5.8% | −7.3% | 4.5% | |
| 0 | −0 | 0 | −0 | |
| 0.2 | 0.1 | 0.1 | 0.1 | |
| 0.2 | 0.2 | 0.1 | 0.1 | |
| – | 3.6 | 1.3 | 0.5 | |
| −0.7 | 2.8 | 0.2 | 1.3 | |
| – | – | – | 26.2% | |
| −0.7 | 2.8 | 0.2 | 1 | |
| – | – | minus 93.3% | +421.6% | |
| -1.39 | 5.56 | 0.36 | 1.87 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 5.1 | 5.1 | 5.3 | 5.3 | |
| −7.7 | −5 | −4.9 | −3.9 | |
| 5.3 | 2.4 | 2.5 | 2.2 | |
| 12 | 16.3 | 17.4 | 13.1 | |
| 14.6 | 18.9 | 20.3 | 16.7 | |
| 1.6 | 1.1 | 1.2 | 1.1 | |
| 0 | 0 | 0 | 0 | |
| 0 | 0.5 | 0 | 0 | |
| 13 | 17.3 | 19.1 | 15.6 | |
| 14.6 | 18.9 | 20.3 | 16.7 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 0.2 | −0.6 | −0.9 | −0.1 | |
| 0 | 4.1 | −0.2 | 0.5 | |
| −0.2 | −3 | 0.6 | −0.4 | |
| 0 | 0.5 | −0.5 | −0 | |
| – | – | −0.2 | – | |
| 0.2 | −0.6 | −1.1 | −0.1 |
Shareholding pattern
This company is listed only on BSE, so there’s no NSE category split. See Major shareholders below for the named holders.
Major shareholders
Filings & events
News
No recent news coverage found.