Bright Solar Ltd
Incorporated in 2010, Bright Solar Ltd is into assembling of DC/AC Solar Pumps and Solar Pump Systems, EPC contracts of Solar Photo voltaic Water pumps, consulting of Projects
and tenders, Water supply and Sewerage
Infra Project[1]
- Market Cap ₹ 17.1 Cr.
- Current Price ₹ 6.85
- High / Low ₹ 12.5 / 4.65
- Stock P/E
- Book Value ₹ 11.8
- Dividend Yield 0.00 %
- ROCE -10.5 %
- ROE -11.2 %
- Face Value ₹ 10.0
Pros
- Company has reduced debt.
- Company is almost debt free.
- Stock is trading at 0.58 times its book value
Cons
- Company has low interest coverage ratio.
- The company has delivered a poor sales growth of -30.2% over past five years.
- Promoter holding is low: 0.20%
- Company has a low return on equity of -11.2% over last 3 years.
- Company has high debtors of 481 days.
- Promoter holding has decreased over last 3 years: -66.8%
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Sector: Capital Goods - Electrical Equipment Industry: Pumps
Half Yearly Results
Figures in Rs. Crores
Profit & Loss
Figures in Rs. Crores
Mar 2011 | Mar 2012 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
0.04 | 1.48 | 47.76 | 14.99 | 18.03 | 39.58 | 57.41 | 23.40 | 24.39 | 7.19 | 23.58 | 9.54 | |
0.11 | 1.45 | 44.45 | 13.71 | 14.99 | 29.89 | 53.32 | 21.98 | 23.66 | 14.40 | 23.60 | 13.11 | |
Operating Profit | -0.07 | 0.03 | 3.31 | 1.28 | 3.04 | 9.69 | 4.09 | 1.42 | 0.73 | -7.21 | -0.02 | -3.57 |
OPM % | -175.00% | 2.03% | 6.93% | 8.54% | 16.86% | 24.48% | 7.12% | 6.07% | 2.99% | -100.28% | -0.08% | -37.42% |
0.08 | 0.00 | 0.05 | 0.44 | 0.10 | 0.30 | 0.43 | 0.17 | 0.26 | 0.30 | 0.45 | -2.32 | |
Interest | 0.00 | 0.00 | 0.28 | 0.60 | 0.53 | 0.33 | 0.08 | 0.10 | 0.30 | 0.06 | 0.04 | 0.03 |
Depreciation | 0.00 | 0.00 | 0.11 | 0.08 | 0.06 | 0.11 | 0.42 | 0.42 | 0.40 | 0.40 | 0.32 | 0.07 |
Profit before tax | 0.01 | 0.03 | 2.97 | 1.04 | 2.55 | 9.55 | 4.02 | 1.07 | 0.29 | -7.37 | 0.07 | -5.99 |
Tax % | 0.00% | 33.33% | 34.01% | 32.69% | 33.33% | 35.08% | 41.79% | 51.40% | 37.93% | 0.00% | 14.29% | 0.00% |
0.01 | 0.02 | 1.97 | 0.71 | 1.71 | 6.20 | 2.34 | 0.52 | 0.18 | -7.37 | 0.05 | -6.00 | |
EPS in Rs | 15.15 | 3.94 | 9.50 | 3.39 | 0.94 | 0.21 | 0.07 | -2.96 | 0.02 | -2.40 | ||
Dividend Payout % | 0.00% | 0.00% | 6.73% | 21.13% | 0.00% | 2.42% | 8.72% | 39.23% | 11.33% | 0.00% | 0.00% | 0.00% |
Compounded Sales Growth | |
---|---|
10 Years: | % |
5 Years: | -30% |
3 Years: | -27% |
TTM: | -60% |
Compounded Profit Growth | |
---|---|
10 Years: | % |
5 Years: | % |
3 Years: | % |
TTM: | -7020% |
Stock Price CAGR | |
---|---|
10 Years: | % |
5 Years: | -11% |
3 Years: | 6% |
1 Year: | 38% |
Return on Equity | |
---|---|
10 Years: | % |
5 Years: | -6% |
3 Years: | -11% |
Last Year: | -11% |
Balance Sheet
Figures in Rs. Crores
Mar 2011 | Mar 2012 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 0.01 | 0.01 | 1.06 | 1.50 | 1.50 | 15.00 | 20.40 | 20.40 | 20.40 | 20.40 | 20.40 | 25.00 |
Reserves | 0.01 | 0.03 | 3.06 | 7.16 | 8.69 | 1.39 | 17.53 | 17.80 | 17.77 | 10.37 | 10.43 | 4.43 |
0.16 | 1.24 | 6.16 | 3.34 | 2.67 | 1.41 | 0.48 | 0.70 | 0.51 | 3.62 | 1.83 | 0.62 | |
0.01 | 2.05 | 28.64 | 10.12 | 19.78 | 11.98 | 12.31 | 14.47 | 11.69 | 6.51 | 14.70 | 7.03 | |
Total Liabilities | 0.19 | 3.33 | 38.92 | 22.12 | 32.64 | 29.78 | 50.72 | 53.37 | 50.37 | 40.90 | 47.36 | 37.08 |
0.00 | 0.01 | 0.27 | 0.20 | 0.15 | 0.39 | 0.69 | 4.46 | 4.35 | 4.42 | 4.30 | 0.38 | |
CWIP | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Investments | 0.00 | 0.00 | 0.13 | 0.85 | 0.00 | 0.00 | 0.00 | 0.23 | 0.28 | 0.94 | 0.72 | 0.49 |
0.19 | 3.32 | 38.52 | 21.07 | 32.49 | 29.39 | 50.03 | 48.68 | 45.74 | 35.54 | 42.34 | 36.21 | |
Total Assets | 0.19 | 3.33 | 38.92 | 22.12 | 32.64 | 29.78 | 50.72 | 53.37 | 50.37 | 40.90 | 47.36 | 37.08 |
Cash Flows
Figures in Rs. Crores
Mar 2011 | Mar 2012 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00 | -4.66 | 3.01 | 1.24 | 5.93 | -11.59 | 2.06 | 0.14 | 1.02 | -7.63 | -5.20 | |
0.00 | 0.00 | 0.05 | -0.63 | 0.00 | -7.55 | -6.76 | -0.45 | -0.86 | -1.23 | 7.53 | 2.01 | |
0.00 | 0.00 | 4.62 | -0.64 | -0.76 | 0.22 | 18.09 | -0.19 | -0.42 | 0.11 | -0.15 | 4.49 | |
Net Cash Flow | 0.00 | 0.00 | 0.01 | 1.74 | 0.48 | -1.40 | -0.25 | 1.42 | -1.15 | -0.10 | -0.24 | 1.31 |
Ratios
Figures in Rs. Crores
Mar 2011 | Mar 2012 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 365.00 | 231.82 | 273.22 | 118.34 | 300.42 | 120.71 | 68.16 | 281.86 | 135.73 | 321.34 | 194.73 | |
Inventory Days | 8.78 | 23.95 | 0.00 | 41.46 | 110.56 | |||||||
Days Payable | 217.70 | 133.88 | 116.88 | 140.35 | ||||||||
Cash Conversion Cycle | 365.00 | 231.82 | 64.29 | 8.41 | 300.42 | 45.29 | 68.16 | 281.86 | 135.73 | 291.56 | 194.73 | |
Working Capital Days | 730.00 | 293.48 | 69.24 | 203.56 | 129.97 | 47.49 | 121.69 | 279.52 | 275.06 | 668.57 | 300.45 | |
ROCE % | 4.11% | 14.72% | 24.78% | 64.38% | 14.59% | 3.03% | 1.52% | -20.01% | 0.33% |
Documents
Announcements
-
Resignation
19 July 2024 - Bright Solar Limited has informed regarding Resignation of Mr VIREN MAKWANA as Non- Executive Independent Director of the company w.e.f. Jun 19, 2024.
-
Financial Result Updates
2 July 2024 - Bright Solar Limited has submitted to the Exchange, the financial results for the period ended March 31, 2024.
-
Related Party Transactions
11 June 2024 - Bright Solar Limited has informed regarding Certificate of Non-Applicability of Regulation 23(9) of SEBI (LODR) Regulations, 2015 Related Party Transactions Reporting.
-
Outcome of Board Meeting
11 June 2024 - Bright Solar Limited has informed regarding Board meeting held on Jun 07, 2024.
-
Board Meeting Intimation
22 May 2024 - BRIGHT SOLAR LIMITED has informed about Board Meeting to be held on 30-May-2024 to inter-alia consider and approve the Audited Financial results of the Company …
Business Overview:[1][2]
Company manufactures solar-powered water pumps and has installed 3000+ solar water pumps, which provide access to water for drinking and irrigation purposes. BSL does assembling of solar pump systems (DC Solar Pumps and AC Solar Pumps) and supplying, installation and commissioning of Solar Photovoltaic (PV) based water pumping systems on Engineering, Procurement and Construction (EPC) basis. Further, BSL gives consultancy services to startups in Solar Industry. BSL has recently added water supply, sewerage and infra projects in its service portfolio