SWSOLARConstruction

Sterling and Wilson Renewable Energy Limited

Civil Construction · ISIN INE00M201021 · BSE 542760 · NSE EQ · FV ₹1
Last price
₹150
+6.36%today
What this company does

Sterling and Wilson Renewable Energy Limited operates in Civil Construction, part of the Construction sector. It booked ₹1,528 cr of revenue in its latest quarter (Q2 FY27) and kept 1.3% of sales as profit.

In the report:
42out of 100
Equitytale Health Score
Strained

Healthier than 42% of companies in Construction, on all six measures of filed financials. Each measure is ranked against the 7–24 companies that reported it.

Measures financial condition, not whether to buy. Learn what this score means · How this is calculated

Price momentum
neutral
RSI (14)
34

At close. Not part of the score.

Profitability & returns59

How much profit it earns on the money it employs

Balance sheet5

How much it owes, and whether earnings cover the interest

Cash quality47

Whether reported profit actually arrives as cash

Growth & consistency73

Whether sales and profit have grown, and how steadily

Valuation17

What today's price implies, against our models or its peers

Governance & risk59

How much of the promoters' stake is pledged, and how much they hold

Is this company doing well?
not investment advice
Strengths
✓ Makes a profit
✓ Promoters hold 46%
✓ Turns profit into real cash
Watch-outs
! Thin 1.3% net margin
! Sales down 13% vs last year
! 27.6% of promoter stake pledged
! Carries high debt (D/E 1.3)

What if I invest in SWSOLAR?

Set a growth rate and see what a monthly SIP would add up to. Your assumption, our arithmetic.

You would put in
₹12.00 lakh
120 instalments
At 10% a year, it would become
₹20.15 lakh

The starting rate is a round number, not a view on this company — this is your assumption, and the figure above is arithmetic on it. Returns are not steady year to year, and a real holding would not grow in a straight line. We do not publish price targets or predict returns.

Key ratios · latest quarter + price
₹150▲ +6.36%
latest close · 2026-11-04
1-year return
-68.0%
52-wk low ₹13552-wk high ₹479
Is it cheap or expensive?
What you pay for the profits, book value and cash flow. Higher isn't automatically worse — it can signal faster growth.
P/E ratio45.8High
LowAverageHigh
P/B ratio4.85High
Below bookModerateHigh
EV / EBITDA15.4High
LowAverageHigh
How good is the business?
How much profit it earns from its money and its sales.
Return on equity10.6%Fair
WeakFairStrong ▸15%
Return on capital25.2%Strong
WeakFairStrong
Net margin1.3%Thin
ThinDecentStrong
EBITDA margin4.6%Thin
ThinDecentHealthy
Is it financially safe?
How much it owes, and whether it can comfortably cover it.
Debt to equity1.28High
LowModerateHigh ▸1
Interest cover1.3×Risky
RiskyOkayStrong ▸5×
Current ratio1.13Healthy
Tight ◂1HealthyAmple
More figures
Market cap
₹3,508 cr
Book value
₹31
EPS
₹0.82
latest quarter
Net debt
₹827 cr
owes more than its cash
Enterprise value
₹4,335 cr
EBITDA
₹281 cr
annualised
EBIT
₹267 cr
annualised
Operating margin
4.4%
Return on assets
1.5%
Earnings yield
2.18%
P/S
0.57
Sales / share
₹261.7
Tax rate
0.1%
Face value
₹1
Shares
23.4 cr
Working capital
₹544 cr
Current assets
₹4,719 cr
Current liabilities
₹4,175 cr
Delivery %
40.9%
Strong / safeFairWeak / riskyValuation — a level, not good/badBands are general rules of thumb, not advice.

P/E, ROE, ROCE and margins are annualised from the latest quarter; per-share and balance-sheet ratios use the most recent balance sheet on file · prices as of 2026-11-04.

Worth vs price · from the FY 2026 report & filings
not investment advice
Hard to value confidentlyLow confidence
One year's profit is a one-off (far above the multi-year norm), so its recurring earnings power is unclear.

An educational model from the company's own filings, every assumption shown — not investment advice or a price target. Prices can stay above or below any model for years.

P&L · Q2 FY27 (consolidated)
Revenue from Operations₹1,528 cr
Other Income₹14 cr
Total Income₹1,542 cr
Cost of Materials₹1,387 cr
Purchases of Stock-in-Trade₹0 cr
Employee Benefit Expense₹51 cr
Finance Costs₹50 cr
Depreciation & Amortisation₹4 cr
Other Expenses₹33 cr
Total Expenses₹1,525 cr
Profit before Tax₹17 cr
Tax Expense₹1 L
Net Profit₹17 cr
Net margin on total income1.1%
Where the money goes · Q2 FY27
% of total income
Materials + stock-in-trade₹1,387 cr90.0%
Employee benefit expense₹51 cr3.3%
Finance costs₹50 cr3.2%
Depreciation & amortisation₹4 cr0.2%
Other expenses₹33 cr2.1%
Tax expense₹1 L0.0%
Profit for the period₹17 cr1.1%
Total income ₹1,542 cradds up to ₹100 ✓
Quarterly results · consolidated (₹ cr)
MetricQ4 FY26Q1 FY27Q2 FY27
Revenue1,946 cr1,590 cr1,528 cr
Total income1,999 cr1,610 cr1,542 cr
Expenses1,844 cr1,554 cr1,525 cr
Profit before tax154 cr57 cr17 cr
Tax13 cr3 cr1 L
Net profit (owners' share)135 cr54 cr19 cr
Net margin (owners' share, on revenue)6.9%3.4%1.3%
EPS (₹)5.762.320.82
YoY (latest quarter): total income -17.1% · net profit —
Balance sheet & cash flow · as of Sep 2026
High debt
Total assets
₹5,232 cr
Shareholder equity
₹723 cr
parent shareholders
Total debt
₹920 cr
Cash
₹94 cr
Cash flow · H1 FY27
Operating
₹78 cr
Investing
₹40 cr
Financing
₹-338 cr
Peer comparison
Civil Construction · by market value
CompanyPriceMarket capP/E
Larsen & Toubro Limited₹3,948₹5.43 L cr26.1
Rail Vikas Nigam Limited₹184₹38,414 cr60.6
Kalpataru Projects International Limited₹1,321₹22,570 cr18.2
Cemindia Projects Limited₹1,271₹21,829 cr38.7
NBCC (India) Limited₹75₹20,320 cr33.0
IRB Infrastructure Developers Limited₹16₹19,687 cr16.3
Engineers India Limited₹289₹16,257 cr20.7
Techno Electric & Engineering Company Limited₹850₹9,887 cr26.5
Ircon International Limited₹100₹9,390 cr25.2
Same industry · latest reported numbers · not a recommendation.
Corporate actions
Dividend yield
—
trailing 12 months
Dividend / share (TTM)
—
Last dividend
₹6
ex 24 Feb 2020
ActionDetailEx-date
Dividend₹6 / share24 Feb 2020
Who owns it · 2026-09-30
⚑ 27.6% pledged
Promoter
45.7%
FII / Foreign
3.8%
DII / Domestic
5.3%
Retail / others
45.2%
Promoter stake down 7.3% over the last 12 quarters.
Smart-money activity
Insider trades
SoldShapoorji Pallonji And Company Private Limited · Promoters1.62 cr · ₹51.9 cr25 Jun 25
SoldRajneesh Shrotriya · Other1,400 · ₹6.7 L11 Dec 24
SoldJagannadha Rao Ch. V. · Key Managerial Personnel5,000 · ₹25.2 L3 Dec 24
Bulk / block deals
short— · NSE40015 Sep 26
short— · NSE15023 Jun 26
short— · NSE21,99422 Jun 26
Stake changes
SoldKhurshed Yazdi Daruvala · promoter→ 0.13% · 31.50 L27 Sep 24
SoldShapoorji pallonji and Company Private Ltd · promoter→ 6.94% · 1.35 cr27 Sep 24
SoldCatalyst Trusteeship Limited→ 5.38% · 2.18 cr26 Sep 24
Promoter pledges
Pledged360 ONE Prime Limited (Formerly known as IIFL Wealth Prime Limited)6.07 L · 5.31% held12 Nov 24
Pledged360 ONE Prime Limited (formerly known as IIFL Wealth Prime Limited)43,662 · 0.11% held11 Nov 24
Pledged360 one Prime Ltd( formerly as IIFL weath Prime Ltd)3.80 L · 5.15% held7 Nov 24
What shareholders were asked to approve
2 proposals passed only on promoter votes

A company cannot decide everything on its own. Things like a top executive’s pay, issuing new shares, or re-appointing a director have to be put to the people who own the company, and they vote — one vote per share. So whoever owns the most shares has the most say.

Yearly shareholder meeting · 21 Aug 2025
See the official result
1
a. Adoption of Audited Standalone Financial Statements of the Company for the financial year ended March 31, 2025, and the reports of the Board and the Auditors thereon. b. Adoption of Audited Consolidated Financial Statements of the Company for the financial year ended March 31, 2025, and the report of the Auditors thereon
Backed by 100% of shareholders other than promotersneeded 50%
2.20 cr votes for, 70,515 against · 0% of mutual funds and other big investors said no
2
To appoint Mr. Balanadu Narayan (DIN: 00007129), Non- Executive Director of the Company, who retires by rotation as a Director
Backed by 98% of shareholders other than promotersneeded 50%
2.17 cr votes for, 3.89 L against · 1% of mutual funds and other big investors said no
3
To approve appointment of Branch Auditors
Backed by 100% of shareholders other than promotersneeded 50%
2.20 cr votes for, 70,627 against · 0% of mutual funds and other big investors said no
4
To Approve appointment of M/s. Manish Ghia and Associates as Secretarial Auditors
Backed by 100% of shareholders other than promotersneeded 50%
2.20 cr votes for, 71,213 against · 0% of mutual funds and other big investors said no
6
To consider and approve Sterling and Wilson Renewable Energy Limited - Employee Stock Option Plan II 2025
⚑ Passed only because promoters voted yes
Backed by 38% of shareholders other than promotersneeded 75%
83.00 L votes for, 1.38 cr against · 63% of mutual funds and other big investors said no
7
To consider and approve the grant of employee stock options to the eligible employees of the subsidiary company(ies) of the Company under Sterling and Wilson Renewable Energy Limited - Employee Stock Option Plan II 2025
⚑ Passed only because promoters voted yes
Backed by 38% of shareholders other than promotersneeded 75%
83.00 L votes for, 1.38 cr against · 63% of mutual funds and other big investors said no

Every vote count above is taken from the result the company filed with the stock exchange, certified by an independent counter. To work out what would have happened without the promoters, we simply remove their votes and re-apply the same legal bar the proposal had to clear. Nothing here is an estimate or an opinion.

Who controls this company, and what it pays them

Most Indian companies are controlled by a family or group — the promoters. The exchange requires them to be listed by name, including members who own no shares at all, and requires the company to disclose any business it does with them.

The promoter group — 9 named members
owning 45.7% between them · as of 2026-09-30
Reliance New Energy Limited32.49%
Shapoorji Pallonji and Company Private Limited6.94%
Kainaz K Daruvala5.57%
Pallon Shapoor Mistry0.31%
Rohiqa Cyrus Mistry0.29%
Khurshed Yazdi Daruvala0.13%
Pervin Zarir Madanno shares
Zarine Yazdi Daruvalano shares
Business done with them
FY2026 · 2 of the group
The company paid ₹149 cr to companies in the promoter group last year — about 2.0% of its ₹7,548 cr revenue and received ₹138 cr back from them.
SHAPOORJI PALLONJI AND COMPANY PRIVATE LIMITED
Contribution made to them · Income from works contracts, other income, Recovery towards expenses and others, other expense, Trade receivables, Trade payables, other receivables, unbilled receivables
also owns 6.94% of the company
₹143 cr
company paid
SHAPOORJI PALLONJI AND COMPANY PRIVATE LIMITED
Other income from them · Income from works contracts, other income, Recovery towards expenses and others, other expense, Trade receivables, Trade payables, other receivables, unbilled receivables
also owns 6.94% of the company
₹107 cr
company received
KHURSHED YAZDI DARUVALA
Other income from them · Remuneration and sitting fees paid, recovered expenses, Salary and sitting fees payable
also owns 0.13% of the company
₹31 cr
company received
KHURSHED YAZDI DARUVALA
Other payments to them · Remuneration and sitting fees paid, recovered expenses, Salary and sitting fees payable
also owns 0.13% of the company
₹5 cr
company paid
SHAPOORJI PALLONJI AND COMPANY PRIVATE LIMITED
Other payments to them · Income from works contracts, other income, Recovery towards expenses and others, other expense, Trade receivables, Trade payables, other receivables, unbilled receivables
also owns 6.94% of the company
₹1 cr
company paid

The company also transacted with 12 other related parties — subsidiaries, joint ventures, directors and others — that we could not match by name to the promoter list above. Some may still be connected to the family; we only count the ones the filings let us match with certainty.

Names and holdings from the company’s shareholding pattern filed with the exchange; transactions from the related-party note in its annual report. Every figure is as filed — these are legal, disclosed dealings, and what to make of them is your call.

How the stock has moved · adjusted for splits & bonuses
Data from primary exchange filings · analysis tool, not investment advice.