Being stewed or soaked makes petals red (9)

I believe the answer is:

plastered

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'being stewed' is the definition.
(I've seen this in another clue)

'soaked makes petals red' is the wordplay.
'petals red' anagrams to 'PLASTERED'.
Though, I am not sure how this is indicated.

'or' acts as a link.

Can you help me to learn more?

(Other definitions for plastered that I've seen before include "Coated thickly, being slangily drunk" , "Drunk - applied coating to a wall" , "Smashed" , "wasted" , "Intoxicated" .)

I've seen this clue in the Evening Standard.

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