| ₹ crore | Q2 FY27 | Q2 FY26 | Change |
|---|---|---|---|
| Revenue | 1,528 | 1,749 | −12.6% |
| EBITDA | 56.1 | 3.9 | +1,331.1% |
| EBITDA margin | 3.7% | 0.2% | +3.5 pts |
| Profit before tax | 16.8 | −503 | — |
| Net profit | 16.8 | −478 | — |
| EPS | ₹0.82 | −₹20.27 | — |
Amounts on the left scale in ₹ crore; per cent on the right, dashed. L = lakh crore, K = thousand crore. Touch the chart to read any period.
| Tap a line for its trend | Currentlast 12M | FY26Mar 2026 | FY25Mar 2025 | FY24Mar 2024 | FY23Mar 2023 | FY22 and earlierAlpha Plus |
|---|
| 3,368 | — | — | — | — | FY22 and earlierEvery year the company has filed comes with Alpha Plus. | |
| 93.6 | 315 | 575 | 296 | 47.9 | ||
| −3.8 | 1.5 | −12.5 | −14.2 | −15.2 | ||
| 1,164 | 1,164 | 901 | 477 | 2,030 | ||
| 4,434 | — | — | — | — | ||
| 7,155 | 7,548 | 6,302 | 3,035 | 2,015 | ||
| — | +19.8% | +107.6% | +50.6% | — | ||
| 348 | 302 | 247 | −22.6 | −1,130 | ||
| 4.9% | 4.0% | 3.9% | −0.7% | −56.1% | ||
| 335 | 291 | 232 | −39.2 | −1,145 | ||
| 213 | −296 | 85.6 | −211 | −1,175 | ||
| 3.0% | −3.9% | 1.4% | −6.9% | −58.3% | ||
| ₹8.79 | −₹13.25 | ₹3.49 | −₹9.08 | −₹50.09 | ||
| — | −479.9% | +138.4% | +81.9% | — | ||
| — | −257 | 40.3 | 602 | −1,829 | ||
| — | −11.2 | −4.4 | −1.0 | −9.2 | ||
| −269 | −269 | 35.9 | 601 | −1,838 | ||
From the company's filings with NSE and BSE (Ind-AS), consolidated. For information only, not investment advice.
In ₹ Crore except Per Share 12 Months Ending | FY23 31/03/2023 | FY24 31/03/2024 | FY25 31/03/2025 | FY26 31/03/2026 | Current/LTM TTM · last close | |
|---|---|---|---|---|---|---|
| Market Capitalization | — | — | — | — | 3,367.5 | |
| - Cash, Equiv & ST Investments | 47.9 | 295.6 | 575.5 | 314.6 | 93.6 | |
| + Minority Interest | -15.2 | -14.2 | -12.5 | 1.5 | -3.8 | |
| + Total Debt | 2,029.6 | 476.7 | 901.5 | 1,163.8 | 1,163.8 | |
| Enterprise Value | — | — | — | — | 4,434.0 | |
| Revenue | 2,015.0 | 3,035.4 | 6,301.9 | 7,548.1 | 7,155.5 | |
| Growth %, YoY | — | +50.6 | +107.6 | +19.8 | — | |
| EBITDA | -1,130.0 | -22.6 | 246.7 | 302.1 | 347.5 | |
| Margin % | -56.08 | -0.74 | 3.92 | 4.00 | 4.86 | |
| EBIT | -1,144.7 | -39.2 | 232.4 | 290.8 | 334.8 | |
| Net Income | -1,175.0 | -210.8 | 85.6 | -295.8 | 213.2 | |
| Margin % | -58.31 | -6.94 | 1.36 | -3.92 | 2.98 | |
| EPS, Adj (current shares) | -50.09 | -9.08 | 3.49 | -13.25 | 8.79 | |
| Growth %, YoY | — | +81.9 | +138.4 | -479.9 | — | |
| Cash from Operations | -1,829.2 | 601.8 | 40.3 | -257.4 | — | |
| Capital Expenditures | -9.2 | -1.0 | -4.4 | -11.2 | — | |
| Free Cash Flow | -1,838.5 | 600.8 | 35.9 | -268.6 | -268.6 | |
Prices at the previous close · figures from the company's filings with NSE
Sterling and Wilson Renewable Energy (NSE: SWSOLAR) had a market capitalisation of ₹3,368 crore at the previous close (₹144.22 a share), a PE ratio of 16.4 on the last four quarters' profit and a price-to-book ratio of 4.66. In FY26 its consolidated net loss was ₹309 crore on revenue of ₹7,548 crore; in Q2 FY27 (July–September 2026) it was ₹19.2 crore. Its debt-to-equity ratio was 1.28 on 30 September 2026. Promoters held 45.72% of the shares on 30 September 2026.
Sterling and Wilson Renewable Energy's PE ratio is 16.4 at the previous close (₹144.22 a share): a market capitalisation of ₹3,368 crore divided by consolidated net profit attributable to shareholders of ₹205 crore over the last four quarters (Q3 FY26 to Q2 FY27).
No. Sterling and Wilson Renewable Energy had borrowings of ₹920 crore on 30 September 2026 (consolidated balance sheet), a debt-to-equity ratio of 1.28. Its cash and current investments were ₹291 crore, so its net debt was ₹629 crore.
Sterling and Wilson Renewable Energy's book value per share was ₹30.95 on 30 September 2026: shareholders' equity of ₹723 crore divided by the 23.35 crore shares in issue, up 53.7% from ₹20.13 a year earlier. The share price at the previous close was ₹144.22.
Sterling and Wilson Renewable Energy's price-to-book (PB) ratio is 4.66 at the previous close: a market capitalisation of ₹3,368 crore divided by shareholders' equity (book value) of ₹723 crore on 30 September 2026. That is a book value of ₹30.95 per share against a share price of ₹144.22.
Sterling and Wilson Renewable Energy's net worth — shareholders' equity in its consolidated balance sheet — was ₹723 crore on 30 September 2026, up 53.7% from ₹470 crore a year earlier. Its market value is a different figure: a market capitalisation of ₹3,368 crore at the previous close.
In FY26, Sterling and Wilson Renewable Energy generated ₹257 crore of cash from operations and spent ₹11.2 crore on capital expenditure (property, plant, equipment and intangibles), leaving free cash flow of −₹269 crore. In FY25 it was ₹35.9 crore.
Sterling and Wilson Renewable Energy's market capitalisation was ₹3,368 crore at the previous close: 23.35 crore shares at ₹144.22 each.
Sterling and Wilson Renewable Energy's debt-to-equity ratio was 1.28 on 30 September 2026: borrowings of ₹920 crore against total equity of ₹719 crore. A year earlier, on 30 September 2025, it was 2.60.
Sterling and Wilson Renewable Energy's basic earnings per share (EPS) were −₹13.25 in FY26. Over the last four quarters (Q3 FY26 to Q2 FY27) they add up to ₹8.78.
In FY26, Sterling and Wilson Renewable Energy's return on equity (ROE) was −37.4% and its return on capital employed (ROCE) was 20.8%. ROE is net profit attributable to shareholders divided by average shareholders' equity (the start and end of the year); ROCE is operating profit (EBIT) divided by average capital employed (total assets less current liabilities). In FY25, ROE was 8.2% and ROCE 16.3%.
On 30 September 2026, Sterling and Wilson Renewable Energy's shares were held by promoters 45.72%, foreign portfolio investors (FII/FPI) 3.75%, domestic institutions (DII) 5.33% (including mutual funds at 0.84%) and retail and other non-institutional investors 45.20%. Over the year, FII holding was down 3.35 percentage points from 7.10% and DII holding was up 2.16 percentage points from 3.17%.
In FY26, Sterling and Wilson Renewable Energy earned net profit attributable to shareholders of ₹309 crore on revenue of ₹7,548 crore, against ₹350 crore on ₹3,615 crore for Welspun Enterprises. Sterling and Wilson Renewable Energy's operating margin was 3.9% (Welspun Enterprises 19.3%) and its return on equity −37.4% (Welspun Enterprises 12.5%).
Promoters held 45.72% of Sterling and Wilson Renewable Energy on 30 September 2026, unchanged from both the previous quarter and a year earlier, according to the shareholding pattern filed with NSE.
In FY26 (April 2025–March 2026), Sterling and Wilson Renewable Energy's consolidated net loss was ₹309 crore, against a profit of ₹81.5 crore in FY25, on revenue from operations of ₹7,548 crore (up 19.8%).
Sterling and Wilson Renewable Energy has reported Q2 FY27. Its next results, for Q3 FY27 (October–December 2026), are due by 14 February 2027 under SEBI's 45-day rule; the company notifies the board-meeting date at least two working days before.
Sterling and Wilson Renewable Energy's latest results are for Q2 FY27 (July–September 2026), filed on 15 October 2026: consolidated net profit attributable to shareholders ₹19.2 crore, against a loss of ₹473 crore in Q2 FY26; revenue from operations ₹1,528 crore, down 12.6% year on year.
On FY26 consolidated figures, against Welspun Enterprises, Power Mech Projects and PNC Infratech: Sterling and Wilson Renewable Energy's operating margin of 3.9% is the lowest of the four (Welspun Enterprises 19.3%, Power Mech Projects 10.4%, PNC Infratech 18.9%; peer average 16.2%); its return on equity of −37.4% is the lowest of the four (Welspun Enterprises 12.5%, Power Mech Projects 15.6%, PNC Infratech 13.0%; peer average 13.7%); its revenue growth over three years of 55.3% a year is the highest of the four (Welspun Enterprises 9.4% a year, Power Mech Projects 19.0% a year, PNC Infratech −12.3% a year; peer average 5.4% a year).
From Sterling and Wilson Renewable Energy's own consolidated results, balance sheets and shareholding patterns filed with NSE. Ratios are calculated by Alphave from those filings as each answer describes.
Consolidated figures from the company's filings with NSE; prices are NSE closing prices.