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On 6 Nov 2026, Sterling and Wilson Renewable Energy was priced at ₹149.13, or 17.0× trailing earnings, against an industry P/E of 15.5×, and the shares are 43% below their 52-week high. Sales grew 55% a year over 3 years, with ROCE of −11% and ROE of 36%. Debt is 1.31× equity. It is a small-cap company with a market cap of ₹3,483 Cr, ranked 9th of 27 Solar companies by market cap; the shares fell 35% over the past year.

As of 6 Nov 2026Prices are delayed about 15 minutes; fundamentals are from the quarter ended Sep 2026.How we calculate this

past year
Open
₹150.55
Day high
₹150.55
Day low
₹146.60
Prev. close
₹151.59
Volume
6.8 L

Health check

2 fair · 4 to check
  • ReturnsBehind

    −35.4% over a year, better than 2 of 7 peers.

  • Price tagIn line

    P/E 17.0 vs industry 15.5.

  • GrowthSteady

    Sales +55.3% a year over 3 years.

  • ProfitabilityNegative

    ROCE -10.5% vs peer median 27.4%.

  • Balance sheetStretched

    Debt 1.31× equity, operating profit doesn’t cover interest.

  • Red flags3 to check

    Quarterly sales down 12.6% on a year ago.

Compared with 7 industry peers. Computed from reported figures. Educational, not a recommendation.

Solar

26 listed peers. Screen the industry

Small cap

₹3,483 Cr, #9 of 27 in its industry by size.

Moves with the market

Beta 0.87 vs the NIFTY 50: tracks the market closely.

Key metrics

Last 12 months to Sep 2026: sales ₹7,155 Cr · profit ₹205 Cr
Market cap
₹3,483 Cr
Small cap
P/E
17.0
Industry 15.5
Price to book
4.84
Peers 4.38
Dividend yield
0.00%
ROE
36.2%
Peers 29.9%
ROCE
−10.5%
Peers 27.4%
Debt to equity
1.31
Debt ₹943 Cr
EPS (TTM)
₹8.78
Face value ₹1
OPM (TTM)
4.7%
Net margin 2.9%
Sales growth
−12.6%
Latest quarter vs a year ago
Profit growth
n/a
Year-ago quarter not reported
Price to sales
0.49
EV/EBITDA 12.1

Strengths and risks

Strengths

  • Return on equity of 36.2%.

Risks to check

  • Quarterly sales down 12.6% on a year ago.
  • 43% below its 52-week high.
  • Interest coverage of only 2.6×.

Derived automatically from reported figures. Not a recommendation.

About Sterling and Wilson Renewable Energy

Sterling and Wilson Renewable Energy Limited provides renewable engineering, procurement, and construction (EPC) services in India, Europe, the Middle East, North Africa, rest of Africa, the United States, Latin America, and Australia. It operates through two segments, EPC Business; and Operations and Maintenance (O&M) Service. The company offers design and engineering; construction, installation, testing, commissioning, grid integration, and long-term…

Headquarters
Mumbai
Employees
1,208
Sector
Technology
ISIN
INE00M201021
Website
sterlingandwilsonre.com

Price range

52 weeks

₹135.02₹260.80

Today

₹146.60₹150.55
Avg volume (3M)
10.5 L
1-year return
minus 35.4%
From 52-week high
minus 42.8%

Peers · Solar

Capital-heavy industry columns

Compare with peersScreen the whole industry
Company
WAAREEENERWaaree Energies2,438.00minus 0.46%70,12919.012.030.1%19.9%0.3157.8%minus 27.3%
PREMIERENEPremier Energies890.00plus 0.85%40,31622.517.427.4%29.9%0.8676.2%minus 15.3%
EMMVEEEmmvee Photovoltaic Power251.31minus 0.28%17,39912.19.734.5%34.7%0.25102.7%plus 14.5%
KARAMTARAKaramtara Engineering375.70minus 0.96%12,09152.827.718.1%9.0%0.9140.4%plus 6.7%
UTLSOLARFujiyama Power Systems351.80minus 9.21%10,81135.722.528.9%18.8%0.4158.7%plus 68.8%
BORORENEWBOROSIL RENEWABLES403.20minus 2.55%5,93413.412.19.5%30.1%0.0720.2%minus 37.6%
VIKRAMSOLRVikram Solar142.39plus 1.95%5,16014.16.020.5%15.4%0.2032.3%minus 56.6%
SWSOLARSterling and Wilson Renewable Energy149.13minus 1.62%3,48317.011.2–4.9%1.3155.3%minus 35.4%
Median of 7 peers–−0.46%12,09119.012.127.4%19.9%0.3157.8%−15.3%

Quarterly results

Consolidated, ₹ crore
SalesSelect a row below to chart it
₹ CrJun 25Dec 25Mar 26Jun 26Sep 26
1,7622,0921,9461,5901,528
1,6762,0381,8001,5111,471
85.554.714678.756.1
4.9%2.6%7.5%4.9%3.7%
21.130.852.920.214.2
29.147.441.738.949.8
2.82.92.93.33.7
–−30.8–––
74.74.415456.716.8
48.2%64.7%8.1%6.0%0.1%
32−2.813554.219.2
1.37-0.125.762.320.82

Sep 25 not reported by the data source.

Profit & loss

Yearly, ₹ crore
Sales CAGR 3Y
+55.3%
ROE
36.2%
Net profitSelect a row below to chart it
₹ CrMar 2023Mar 2024Mar 2025Mar 2026
2,0133,0356,3007,546
–+50.7%+107.6%+19.8%
3,0883,0336,0117,170
−1,0752.4289376
−53.4%0.1%4.6%5.0%
4154.51.6181
12120394.1143
14.716.814.611.6
−9.8−9.3−19.1−672
−1,179−172163−270
0.3%−22.3%47.4%−9.5%
−1,170−21281.5−309
-61.65-10.403.49-13.25

Forecast

Your assumptions, not a prediction

Balance sheet

At each financial year end, ₹ crore
Total assetsSelect a row below to chart it
₹ CrMar 2023Mar 2024Mar 2025Mar 2026
1923.323.423.4
−244946984626
2,0305169361,191
1,3862,8163,6873,476
3,1904,3015,6305,317
38.551.44234.8
0.1–––
11.1–270290
47.929644095.1
3,0933,9534,8774,897
3,1904,3015,6305,317

Cash flow

Yearly, ₹ crore
Cash from operationsSelect a row below to chart it
₹ CrMar 2023Mar 2024Mar 2025Mar 2026
−1,82953837.9−257
−11.8−4.7−75−107
1,431−286317103
−410248280−261
−9.2−1−4.4−11.2
−1,83853733.5−269

Shareholding pattern

Source: NSE filings
45.7%
promoters
  • Promoters45.72%
  • Public54.28%
  • As of 30 Sep 2026
QuarterSplitPromotersPublicPromoter change
30 Sep 202645.72%54.28%0.00
30 Jun 202645.72%54.28%0.00
31 Mar 202645.72%54.28%0.00
31 Dec 202545.72%54.28%0.00
30 Sep 202545.72%54.28%–

Major shareholders

NSE filing

Filings & events

News

No recent news coverage found.

My notes

Private to you