India's Richest People 2026 edition · 1 director · Source: Hurun India
- #1,750 Khurshed Y Daruvala ₹1,000 Cr
Revenue · FY 2023
₹1,503.67 Cr
▼ 25% YoY
Net loss · FY 2023
₹765.68 Cr
Net margin -50.9%
EBITDA · FY 2023
-₹689.06 Cr
EBITDA margin -45.8%
Authorised capital
₹3,500 Cr
Registered with MCA
Paid-up capital
₹914.68 Cr
Issued & subscribed
Open charges
₹2,871 Cr
Satisfied ₹1,941.95 Cr
Company age
52 yrs
Est. 1974
Employees · EPFO
4,472
Provident fund records
About Sterling and Wilson Private Limited
Data last updated:
Sterling and Wilson Private Limited is a private limited company based in Mumbai, Maharashtra, India, a subsidiary of Shapoorji Pallonji And Company Private Limited. It operates in the engineering sector. It was incorporated on 13 June 1974 and has been in existence for over 52 years.
Its director Khurshed Y Daruvala is #1,750 among India's richest people (2026).
The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN U31200MH1974PTC017538. Its GSTIN is 27AAACS9939D1Z4 (Maharashtra). The company holds 48 GST registrations, of which 36 are active.
The company has an authorised share capital of ₹3,500 Cr and a paid-up capital of ₹914.68 Cr. It was formerly known as Sterling and Wilson Electricals Private Limited and Sterling and Wilsons Electricals Private Limited. It is led by directors including Zarine Yazdi Daruvala (Managing Director) and Umesh Narain Khanna.
Its last annual general meeting (AGM) was held on 30 September 2025, and its latest financial statements are for the year ended 31 March 2025. The registered office is at 9th Floor Universal Magestic P.L. Lokhande Marg Chembur, Mumbai, Maharashtra, India – 400043.
As per the financials filed for FY 2023, the company reported a revenue of ₹1,503.67 Cr, a decline of 25% compared to the previous year. For the same year it recorded a net loss of ₹765.68 Cr (net margin -50.9%) and EBITDA of -₹689.06 Cr (EBITDA margin -45.8%). Revenue has declined at a compounded annual rate (CAGR) of 19% over three years and 8% over five years.
The company has about 4,472 employees on its provident fund (EPFO) records. Its group structure includes 3 subsidiaries.
The company is associated with 2 brands: Sterling And Wilson and Sterling and Wilson. As per MCA filings, the company has open charges of ₹2,871 Cr and satisfied charges of ₹1,941.95 Cr on record. Court records list 409 cases involving the company, including 218 filed by the company and 191 filed against it; 77 cases are pending. The company has 16 deals on record (8 secondary share transfers, 6 funding rounds, 2 acquisitions), with disclosed funding of ₹3,327.51 Cr; the latest was in November 2022. The company has 82 MSME Form 1 returns on record between 2015 and 2024, listing 21,826 overdue payments to 1,564 micro and small suppliers.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website sterlingandwilson.com.
Company details
CIN U31200MH1974PTC017538
Registration Number 017538
Incorporation Date 13 June 1974
ROC Mumbai
Listing Status Unlisted
Company Status Active
Date of Last AGM 30 September 2025
Date of Balance Sheet 31 March 2025
Parent Company Shapoorji Pallonji And Company Private Limited
Compliance Status Active Compliant
Name history
Sterling and Wilson has undergone 3 name changes throughout its history. The company was previously known as Sterling And Wilson Electricals Private Limited, Sterling And Wilsons Electricals Private Limited, and Sterling And Wilson Limited. The current legal name is Sterling And Wilson Private Limited.
| Company Name | Status |
|---|---|
| Sterling and Wilson Private Limited | Current |
| Sterling And Wilson Electricals Private Limited | Previous |
| Sterling And Wilsons Electricals Private Limited | Previous |
| Sterling And Wilson Limited | Previous |
CIN history
Sterling and Wilson has one previous CIN (Corporate Identification Number): U31200MH1974PLC017538. The current CIN is U31200MH1974PTC017538, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| U31200MH1974PTC017538 | Current |
| U31200MH1974PLC017538 | Previous |
Key People
Zarine Yazdi Daruvala Managing Director Umesh Narain Khanna Director Vasanth Ramesan Director Recognitions & Rankings of Sterling and Wilson
Contact details
Sterling and Wilson Private Limited's registered office is in Mumbai, Maharashtra. Its website is sterlingandwilson.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Social Media
- Registered Address9th Floor Universal Magestic P.L. Lokhande Marg Chembur, Mumbai, Maharashtra, India – 400043
- IndustryEngineering, Engineering, Procurement & Construction (EPC)
To see the full contact details of Sterling and Wilson Private Limited, buy the company report.
Comprehensive company report
Sterling and Wilson Private Limited - one report that includes everything
- Company details, directors and signatories
- Historical financials and ratios
- Shareholding pattern and group structure
- Charges with holder and property details
- Legal cases, compliance and MCA filings
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Brands
Sterling and Wilson operates two associated brands: Sterling And Wilson and Sterling and Wilson. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| EPC and MEP services are provided across diverse sectors. | sterlingandwilson.com | |
| Energy storage systems for renewables are designed and developed. | sterlingandwilsonre.com |
Financials of Sterling and Wilson Private Limited
FY 2025 filings availableSterling and Wilson Private Limited reported revenue of ₹1,503.67 Cr (down 25% YoY) for FY 2023.
Revenue · FY 2023
₹1,503.67 Cr ▼ 25%
Net loss · FY 2023
₹765.68 Cr margin -50.9%
EBITDA · FY 2023
-₹689.06 Cr margin -45.8%
Compounded Annual Growth Rate (CAGR)
Revenue CAGR growth
1 year
▼ 25%
3 years · compounded
▼ 19%
5 years · compounded
▼ 8%
Revenue has declined at a compounded annual rate (CAGR) of 8% over five years, including a 25% fall in the latest year. Three- and five-year figures are compounded annual growth rates (CAGR): the steady yearly rate that links the first and the last year. All are worked out from the filed statements.
Financial Statement Summary
| Metrics | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 | FY 2018-19 |
|---|---|---|---|---|---|
| Profit and Loss Statement | |||||
| Revenue from Operations | |||||
| Other Income | |||||
| Total Revenue | ₹1,503.67 Cr | ||||
| Cost of Materials Consumed | |||||
| Employee Benefit Expense | |||||
| Finance Costs | |||||
| Depreciation and Amortisation | |||||
| Other Expenses | |||||
| Total Expenses | |||||
| EBITDA | -₹689.06 Cr | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | -₹765.68 Cr | ||||
| Balance Sheet | |||||
| Share Capital | |||||
| Reserves and Surplus | |||||
| Net Worth (Total Equity) | |||||
| Long-term Borrowings | |||||
| Short-term Borrowings | |||||
| Trade Payables | |||||
| Total Liabilities | |||||
| Fixed Assets | |||||
| Investments | |||||
| Inventories | |||||
| Trade Receivables | |||||
| Cash and Bank Balance | |||||
| Total Assets | |||||
Financial Ratios
| Metrics | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 | FY 2018-19 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | -45.8% | ||||
| Net Profit Margin | -50.9% | ||||
| Return on Equity (ROE) | |||||
| Return on Capital Employed (ROCE) | |||||
| Return on Assets (ROA) | |||||
| Liquidity and Debt | |||||
| Current Ratio | |||||
| Quick Ratio | |||||
| Debt-to-Equity Ratio | |||||
| Interest Coverage Ratio | |||||
| Efficiency and Growth | |||||
| Asset Turnover | |||||
| Receivable Days | |||||
| Payable Days | |||||
| Inventory Days | |||||
| Revenue Growth | |||||
| Net Profit Growth | |||||
To see the full financial statements and ratios of Sterling and Wilson Private Limited, buy the company report.
Board of directors of Sterling and Wilson Private Limited
Sterling and Wilson has 5 current directors and 19 former directors. Current directors are listed first, with their designation and appointment date.
Current Directors
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Zarine Yazdi Daruvala | Managing Director | 06 Mar 1980 | 46 Years 7 Months | Current |
| Umesh Narain Khanna Also directs: Sterling and Wilson Renewable Energy Limited, Afcons Infrastructure Limited, Shapoorji Pallonji Energy Private Limited and 3 more | Director | 13 Oct 2023 | 3 Years 0 Months | Current |
| Vasanth Ramesan | Director | 13 Oct 2023 | 3 Years 0 Months | Current |
| Khurshed Yazdi Daruvala | Director | 01 Sep 1993 | 33 Years 1 Months | Current |
| Vinod Bhandawat Also directs: Gokak Textiles Limited, Gokak Power & Energy Limited, SMCM Holdings Private Limited and 2 more | Director | 13 Oct 2023 | 3 Years 0 Months | Current |
Auditor
Sterling and Wilson Private Limited is audited by Kalyaniwalla & Mistry LLP for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| Kalyaniwalla & Mistry LLP | FY 2023 | 104607W/W100166 |
Shareholding
The shareholding of Sterling and Wilson Private Limited is on record for 5 financial years, the latest being FY 2023, split between promoters, domestic institutions, foreign institutions, public shareholders and others.
| Shareholder category | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|
| Promoters | |||||
| Domestic institutional investors (DII) | |||||
| Foreign institutional investors (FII) | |||||
| Public | |||||
| Others |
To see the full shareholding pattern of Sterling and Wilson Private Limited, buy the company report.
Charges & borrowings
Open charges
₹2,871 Cr
Satisfied charges
₹1,941.95 Cr
Breakdown by lending institutions
Latest charge details
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 25 Sep 2025 | 101173436 | Others | ₹766 Cr | Open | |
| 15 Sep 2009 | 10181814 | Others | ₹2,105 Cr | Open | |
| 28 Dec 2021 | 100516664 | Others | ₹340 Cr | Satisfied | |
| 13 Jan 2021 | 100404990 | Others | ₹255 Cr | Satisfied | |
| 10 Aug 2020 | 100367648 | Others | ₹261 Cr | Satisfied |
To see the full charge records of Sterling and Wilson Private Limited, buy the company report.
Total charge records: 29 View all charges
Deals & funding
Sterling and Wilson Private Limited has 16 deals on record (8 secondary share transfers, 6 funding rounds, 2 acquisitions), with disclosed funding of ₹3,327.51 Cr; the latest was in November 2022.
Total deals
16
Secondary share transfers
8
Funding rounds
6
Acquisitions
2
Disclosed funding
₹3,327.51 Cr
Deals on record (5 of 16)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Nov 2022 | Funding round | ₹900 Cr | Investors: Sashwat Energy Private Limited , Transtel Utilities Private Limited , an individual |
| Apr 2021 | Acquisition | Undisclosed | Buyer: Amplus Solar Power Private Limited Seller: Sterling and Wilson Private Limited |
| Mar 2021 | Acquisition | ₹446 Cr | Buyer: Adani Green Energy Limited Seller: Sterling and Wilson Private Limited |
| Mar 2020 | Funding round | ₹1,552.5 Cr | Investors: Shapoorji Pallonji and Company Private Limited , an individual |
| Oct 2019 | Funding round | ₹500 Cr | Investors: Shapoorji Pallonji and Company Private Limited , an individual |
To see the full deal history of Sterling and Wilson Private Limited, buy the company report.
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal cases
Sterling and Wilson Private Limited has 409 court cases on record: 218 filed by Sterling and Wilson, 191 filed against it. 77 cases are pending and 332 are disposed.
Total cases
409
Filed by the company
218
Filed against the company
191
Pending
77
Disposed
332
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 202 | 144 | 36 |
| High courts | 185 | 41 | 39 |
| Supreme Court | 10 | 5 | 2 |
| NCLT | 7 | 1 | 0 |
| NCLAT | 5 | 0 | 0 |
Cases on record (5 of 409)
| Court | Type of case | Party | Status |
|---|---|---|---|
| Bombay High Court | Interim or miscellaneous application | Filed against the company by Ms Sharika Enterprises Ltd | Pending |
| Bombay High Court | Court case (EXA) | Filed against the company by Sharika Enterprises Ltd | Pending |
| District court, Chandigarh | Arbitration matter | Filed by the company against M/S Ireo Pvt Ltd | Pending |
| District court, Meerut, Uttar Pradesh | Arbitration matter | Filed by the company against Sharika Enterprises Limited | Pending |
| High Court of Rajasthan | Writ petition | Filed by the company against World Trade Park Limited | Pending |
To see the full case history of Sterling and Wilson Private Limited, buy the company report.
Case records are compiled from court listings and may lag the court's own records. A case filed against a company is not a finding against it.
MSME payment delays
Sterling and Wilson Private Limited has 82 MSME Form 1 returns on record between 2015 and 2024, listing 21,826 overdue payments to 1,564 micro and small suppliers. Companies must report dues to micro and small suppliers that stay unpaid for more than 45 days in a half-yearly MSME Form 1 return.
Suppliers with reported dues (5 of 1,564)
To see the full MSME payment records of Sterling and Wilson Private Limited, buy the company report.
Individuals and sole proprietors among the suppliers are not named.
Group structure & subsidiaries
Sterling and Wilson has 3 subsidiary companies. This group structure data is as of FY 2023. The table lists each entity with its relationship and holding.
3
Subsidiary companies
Key subsidiaries
| Company Name | CIN | Shares held |
|---|---|---|
| Sterling and Wilson Co-Gen Solutions Private Limited | U31400MH2011PTC216749 | |
| Sterling and Wilson Security Systems Private Limited | U31908MH2012PTC233374 | |
| Range Consultants Private Limited | U72200DL2002PTC114999 |
To see the full group structure of Sterling and Wilson Private Limited, buy the company report.
Employees & EPFO
Sterling and Wilson Private Limited has a workforce of 4,472 employees on its EPFO records as of Apr 08, 2024, across 3 active EPFO establishments.
Employee count
4,472
Active EPFO establishments
3
Employee growth
-5.65%
GST
Sterling and Wilson has 48 GST registrations: 36 active and 12 cancelled or inactive. The first 4 active GSTINs are listed below.
Total GSTINs
48
Active
36
Cancelled / inactive
12
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 27AAACS9939D1Z4 | Maharashtra | Active | 01 Jul 2017 |
| 27AAACS9939D2Z3 | Maharashtra | Active | 08 Jul 2017 |
| 02AAACS9939D2ZF | Himachal Pradesh | Active | 01 Jul 2017 |
| 03AAACS9939D1ZE | Punjab | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of Sterling and Wilson Private Limited, buy the company report.
Recent activity
Sterling and Wilson Private Limited has 23 board changes on record since 1980: 6 appointments and 17 cessations. The latest: Umesh Narain Khanna ceased to be Additional Director on 28 Dec 2023.
AGM
Sterling And Wilson Private Limited last Annual general meeting of members was held on 30 Sep 2025 as per latest MCA records.
Charges
A charge with Others amounted to Rs. 766.00 Cr with Charge ID 101173436 was registered on 25 Sep 2025.
Charges
A charge with Others of Rs. 2,105.00 Cr registered on 15 Sep 2009 with Charge ID 10181814 was modified on 20 Aug 2025.
Filing
Sterling And Wilson Private Limited has filed its annual Financial statements for the year ended 31 Mar 2025 with Roc Mumbai.
Charges
A charge registered on 28 Dec 2021 via Charge ID 100516664 with Others was fully satisfied on 20 Mar 2024.
Ceased
Umesh Narain Khanna ceased to be Additional Director.
Ceased
Vasanth Ramesan ceased to be Additional Director.
Ceased
Vinod Bhandawat ceased to be Additional Director.
Appointed
Umesh Narain Khanna was appointed as Director.
Appointed
Vasanth Ramesan was appointed as Director.
Appointed
Vinod Bhandawat was appointed as Director.
Charges
A charge registered on 18 Jul 2019 via Charge ID 100275682 with Others was fully satisfied on 13 Sep 2022.
82 earlier events are in the company report.
News
Frequently asked questions
Sterling and Wilson is an active private limited company based in Mumbai, Maharashtra, India. The company works in the engineering industry. It was incorporated on 13 June 1974 (52+ years old) and is registered under CIN U31200MH1974PTC017538.
Sterling and Wilson has 5 current directors:
- Zarine Yazdi Daruvala - Managing Director
- Umesh Narain Khanna - Director
- Vasanth Ramesan - Director
- Khurshed Yazdi Daruvala - Director
- Vinod Bhandawat - Director
The latest financial statements of Sterling and Wilson on record with the MCA are for the year ended 31 March 2025. Its last annual general meeting was held on 30 September 2025. Year-wise statements from 2015 are in the company report.
The GSTIN of Sterling and Wilson is 27AAACS9939D1Z4, registered in Maharashtra. The company has 48 GST registrations in all, of which 36 are active and 12 are cancelled or inactive. Other active GSTINs include 27AAACS9939D2Z3 (Maharashtra), 02AAACS9939D2ZF (Himachal Pradesh), 03AAACS9939D1ZE (Punjab).
The CIN (Corporate Identification Number) of Sterling and Wilson is U31200MH1974PTC017538. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Sterling and Wilson has 409 court cases on record: 218 filed by the company and 191 filed against it. 77 are pending. Most are in the district courts.
Sterling and Wilson was incorporated on 13 June 1974, making it 52+ years old. It is registered with the Registrar of Companies, Mumbai.
Sterling and Wilson has 16 deals on record (8 secondary share transfers, 6 funding rounds, 2 acquisitions), with disclosed funding of ₹3,327.51 Cr; the latest was in November 2022.
Umesh Narain Khanna ceased to be Additional Director on 28 Dec 2023. Vasanth Ramesan ceased to be Additional Director on 28 Dec 2023. Vinod Bhandawat ceased to be Additional Director on 28 Dec 2023. Sterling and Wilson has 23 board changes on record in total.
Sterling and Wilson has 82 MSME Form 1 returns on record between 2015 and 2024, listing 21,826 overdue payments to 1,564 micro and small suppliers. The latest return was filed on 11 Jun 2024.
Sterling and Wilson can be reached through the website sterlingandwilson.com. Its registered office is in Mumbai, Maharashtra, India.