STRLNG & WIL REN ENE Ltd
NSE: SWSOLAR · Civil Construction · sector
₹139.62NSE close 2026-10-26
Key numbers
Market cap₹3,260 cr
Price₹139.62
52w high / low₹261 / ₹140
P/E15.9xSector median 12.2x
P/B4.5xSector median 1.3x
Book value₹30.9
Dividend yield–Sector median 0.76%
ROE34.4%Sector median 10.2%
ROCE24.9%Sector median 12.9%
OPM4.4%Sector median 10.7%
Debt / equity1.27xSector median 0.36x
EV/EBITDA12.3xSector median 8.8x
Interest cover2.3x
Current ratio1.13x
Sales growth 3y+55.3%Sector median +6.7%
Profit growth 3y–Sector median +5.8%
PEG–
Last 12 months to Sep 2026, Consolidated. "Sector median" = middle value of 119 companies in Civil Construction (P/E median leaves out loss-making companies). Tap ? for what a number means.
Things to know
- Cash ₹534 cr vs borrowings ₹1,164 cr (FY26): borrowings are higher by ₹629 cr.
- Operating profit covered interest 2.3x in the last 12 months.
- 27.62% of the promoters' shares are pledged (12.6% of all shares).
- Operating cash flow was below net profit in 3 of the last 5 years (FY25, FY23, FY22).
- Net loss in 2 of the last 8 quarters.
- Revenue was higher than a year earlier in 1 of the last 4 quarters.
- Other income was 52% of net profit in the last 12 months.
- Debtor days went from 100 (FY24) to 87 (FY26).
- No dividend in the last 5 financial years.
- Price ₹139.62 on 2026-10-26: -46.5% from the 52-week high, 0.0% from the 52-week low.
Plain facts from the filings, built by the same fixed rules for every company. A line appears only when the data for it is available. Not a view on the stock.
Charts
Weekly close · high ₹685.30 · low ₹139.62
RevenueNet profit
RevenueNet profit
Quarterly results
| ₹ cr | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1,837 | 2,519 | 1,762 | 1,749 | 2,092 | 1,946 | 1,590 | 1,528 |
| EBITDA | 70 | 134 | 85 | -576 | 36 | 146 | 79 | 56 |
| OPM % | 3.8% | 5.3% | 4.9% | -33.0% | 1.7% | 7.5% | 4.9% | 3.7% |
| Other income | 5 | -13 | 21 | 111 | 19 | 53 | 20 | 14 |
| Net profit | 15 | 55 | 32 | -473 | -3 | 135 | 54 | 19 |
| EPS (₹) | 0.64 | 2.37 | 1.37 | -20.27 | -0.12 | 5.76 | 2.32 | 0.82 |
| Revenue YoY | +13.9% | -22.8% | -9.7% | -12.6% | ||||
| Profit YoY | -118.7% | +143.0% | +69.6% | – |
Consolidated figures where filed. Latest quarter Sep 2026.
Profit & loss (yearly)
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 | TTM |
|---|---|---|---|---|---|---|
| Revenue | 5,199 | 2,015 | 3,035 | 6,302 | 7,548 | 7,155 |
| EBITDA | -913 | -1,130 | -23 | 247 | -309 | 317 |
| Net profit | -909 | -1,170 | -212 | 81 | -309 | 205 |
| EPS (₹) | -54.21 | -61.65 | -10.40 | 3.49 | -13.25 | 8.78 |
| Revenue growth | -61.2% | +50.6% | +107.6% | +19.8% | -9.0% | |
| Profit growth | – | – | – | -479.9% | – | |
| Dividend / share (₹) | – | – | – | – | – |
| Compounded growth | 3 years | 5 years | Last 12 months |
|---|---|---|---|
| Sales | +55.3% | +8.2% | -9.0% |
| Net profit | – | – | – |
| EPS | – | – | – |
| Share price | – | -50.4% (2y) | -33.9% |
Balance sheet
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Shareholders' equity | – | -225 | 969 | 1,007 | 650 |
| Borrowings | – | 2,030 | 477 | 901 | 1,164 |
| Cash & equivalents | – | 95 | 339 | 711 | 534 |
| Total assets | – | 3,190 | 4,301 | 5,630 | 5,317 |
| Fixed assets | – | 38 | 106 | 42 | 35 |
| Capital work in progress | – | 0 | 0 | 0 | 0 |
| Investments | – | 0 | 0 | 0 | 0 |
| Receivables | – | 790 | 832 | 1,254 | 1,799 |
| Inventory | – | 2 | 1 | 3 | 2 |
| Payables | – | 650 | 1,508 | 2,750 | 2,502 |
Year-end figures from the March annual filing.
Cash flow
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Cash from operations | -1,690 | -1,829 | 602 | 40 | -257 |
| Cash from investing | 949 | -12 | -5 | -77 | -107 |
| Cash from financing | 978 | 1,431 | -286 | 317 | 103 |
| Capex | 13 | 9 | 1 | 4 | 11 |
| Free cash flow | -1,703 | -1,838 | 601 | 36 | -269 |
Free cash flow = cash from operations − capex.
Ratios by year
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| ROE % | – | 519.6% | -21.9% | 8.1% | -47.6% |
| ROCE % | – | -57.3% | 3.2% | 14.3% | -6.4% |
| Debtor days | – | 143 | 100 | 73 | 87 |
| Inventory days | – | 0 | 0 | 0 | 0 |
| Payable days | – | 86 | 202 | 177 | 134 |
| Cash conversion cycle (days) | – | 57 | -102 | -104 | -47 |
| Working capital days | – | 50 | 129 | 66 | 32 |
Shareholding
| Holder | % (2026-09-30) |
|---|---|
| Promoters | 45.72% |
| FIIs | 3.75% |
| DIIs | 5.33% |
| of which Mutual funds | 0.84% |
| of which Insurance | 4.39% |
| Public (non-institutions) | 45.20% |
| Quarter | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters % | 45.73% | 45.73% | 45.73% | 45.72% | 45.72% | 45.72% | 45.72% | 45.72% |
| Promoter group | % |
|---|---|
| Reliance New Energy Limited | 32.49% |
| Shapoorji Pallonji and Company Private Limited | 6.94% |
| Kainaz K Daruvala | 5.57% |
| Pallon Shapoor Mistry | 0.31% |
| Rohiqa Cyrus Mistry | 0.29% |
| Khurshed Yazdi Daruvala | 0.13% |
| Pervin Zarir Madan | 0.00% |
| Zarine Yazdi Daruvala | 0.00% |
| Zenobia Farhad Unwalla | 0.00% |
| Public holders above 1% | % |
|---|---|
| Aditya Birla Sun Life Insurance Company Limited | 4.39% |
3,22,033 shareholders. Pledged: 27.62% of promoter shares.
Peers in Civil Construction
| Company | Market cap | P/E | P/B | ROE | ROCE | OPM | Sales 3y | Div yield |
|---|---|---|---|---|---|---|---|---|
| LT | ₹5,06,276 cr | 30.5x | 4.6x | 16.7% | 12.8% | 9.4% | +22.2% | 0.92% |
| RVNL | ₹38,083 cr | 42.4x | 3.9x | 9.3% | 10.5% | 4.3% | +0.2% | 1.51% |
| KPIL | ₹22,134 cr | 19.5x | 2.8x | 15.9% | 17.7% | 8.4% | +18.4% | 0.69% |
| IRB | ₹19,639 cr | 20.6x | 0.9x | 4.7% | 7.6% | 53.9% | +6.1% | 0.65% |
| CEMPRO | ₹19,444 cr | 32.3x | 8.1x | 28.4% | 32.3% | 10.4% | +25.5% | 0.18% |
| NBCC | ₹18,536 cr | 25.1x | 6.1x | 27.0% | 33.9% | 5.8% | +13.8% | 1.08% |
| ENGINERSIN | ₹13,725 cr | 17.5x | 4.4x | 27.0% | 28.8% | 19.4% | +5.7% | 1.84% |
| TECHNOE | ₹9,612 cr | 22.3x | 2.3x | 10.9% | 13.7% | 14.0% | +57.7% | 1.09% |
| IRCON | ₹9,177 cr | 17.5x | 1.4x | 8.1% | 8.2% | 8.3% | -4.4% | 2.25% |
| SWSOLAR | ₹3,260 cr | 15.9x | 4.5x | 34.4% | 24.9% | 4.4% | +55.3% | – |
Business segments (FY26)
| Segment | Revenue | Share | EBIT | Margin |
|---|---|---|---|---|
| EPC business | ₹7,277 cr | 96.4% | ₹677 cr | 9.3% |
| Operation and maintenance service | ₹268 cr | 3.6% | ₹42 cr | 15.5% |
| Other operating income | ₹2 cr | 0.0% | ₹0 cr | 0.0% |
Dividends & corporate actions
| Ex-date | Action | Detail |
|---|---|---|
| 2020-02-24 | Dividend | Interim Dividend - Rs 6 Per Share |
Documents
- Annual report FY26
- Annual report FY25
- Annual report FY24
- Annual report FY23
- Annual report FY22
- Announcements NSE filings
- BRSR FY26
- Latest results (data file) XBRL
- Announcements BSE filings
Links go to the original files on the exchange website.
About the company
- Engineering, procurement, and construction (EPC) solutions provider, operations and maintenance (O&M) services: EPC solutions and O&M services provider
| Sector | Industrials |
| Industry | Civil Construction |
| Sub-industry | Civil Construction |
| Symbol | SWSOLAR |
| BSE code | 542760 |
| ISIN | INE00M201021 |
| Face value | ₹1.0 |
| Incorporated | 2017-03-09 |
| Website | www.sterlingandwilsonre.com |
| Plants (India / abroad) | 175 / 14 |
From the company's filings (BRSR FY26).
Data built 2026-10-22 from NSE company filings (XBRL: Integrated Filing - Financials + financial results), NSE shareholding & pledge data; price = NSE close 2026-10-26.