Solex Energy Ltd
Solex Energy Ltd is engaged in manufacturing of solar panels and other renewable energy devices and installation of system on EPC basis.[1]
- Market Cap ₹ 259 Cr.
- Current Price ₹ 324
- High / Low ₹ 486 / 95.0
- Stock P/E 262
- Book Value ₹ 43.8
- Dividend Yield 0.05 %
- ROCE 4.30 %
- ROE 3.38 %
- Face Value ₹ 10.0
Pros
- Debtor days have improved from 169 to 105 days.
Cons
- Stock is trading at 7.40 times its book value
- Company has a low return on equity of 9.80% over last 3 years.
- Company might be capitalizing the interest cost
- Promoters have pledged 26.2% of their holding.
* 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: Power Generation & Distribution Industry: Power Generation And Supply
Half Yearly Results
Figures in Rs. Crores
Profit & Loss
Figures in Rs. Crores
Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | TTM | |
---|---|---|---|---|---|---|---|---|---|
6.34 | 46.35 | 34.00 | 101.19 | 149.09 | 137.92 | 79.61 | 72.24 | 57.86 | |
6.00 | 45.22 | 31.99 | 95.51 | 141.18 | 130.57 | 76.28 | 70.38 | 55.15 | |
Operating Profit | 0.34 | 1.13 | 2.01 | 5.68 | 7.91 | 7.35 | 3.33 | 1.86 | 2.71 |
OPM % | 5.36% | 2.44% | 5.91% | 5.61% | 5.31% | 5.33% | 4.18% | 2.57% | 4.68% |
0.02 | 0.27 | 0.37 | 0.16 | 0.28 | 0.37 | 0.36 | 0.37 | -0.24 | |
Interest | 0.19 | 0.64 | 0.61 | 0.80 | 0.80 | 1.15 | 1.08 | 0.75 | 1.84 |
Depreciation | 0.03 | 0.18 | 0.41 | 0.65 | 0.58 | 0.33 | 0.26 | 0.25 | 0.84 |
Profit before tax | 0.14 | 0.58 | 1.36 | 4.39 | 6.81 | 6.24 | 2.35 | 1.23 | -0.21 |
Tax % | 28.57% | 31.03% | 33.09% | 27.79% | 26.87% | 28.69% | 28.94% | 19.51% | |
Net Profit | 0.10 | 0.39 | 0.91 | 3.16 | 4.97 | 4.45 | 1.68 | 0.99 | -0.06 |
EPS in Rs | 1.22 | 2.60 | 4.09 | 6.40 | 10.06 | 9.01 | 3.40 | 1.24 | -0.08 |
Dividend Payout % | 0.00% | 0.00% | 0.00% | 15.63% | 0.00% | 5.55% | 8.82% | 12.12% |
Compounded Sales Growth | |
---|---|
10 Years: | % |
5 Years: | 16% |
3 Years: | -21% |
TTM: | -9% |
Compounded Profit Growth | |
---|---|
10 Years: | % |
5 Years: | 2% |
3 Years: | -42% |
TTM: | -39% |
Stock Price CAGR | |
---|---|
10 Years: | % |
5 Years: | 45% |
3 Years: | 123% |
1 Year: | 137% |
Return on Equity | |
---|---|
10 Years: | % |
5 Years: | 16% |
3 Years: | 10% |
Last Year: | 3% |
Balance Sheet
Figures in Rs. Crores
Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | |
---|---|---|---|---|---|---|---|---|
0.82 | 1.50 | 2.23 | 4.94 | 4.94 | 4.94 | 4.94 | 8.00 | |
Reserves | 0.10 | 0.48 | 1.39 | 8.66 | 13.04 | 17.21 | 18.64 | 27.04 |
3.81 | 3.89 | 1.20 | 6.26 | 6.46 | 5.08 | 12.10 | 21.32 | |
3.86 | 8.91 | 19.95 | 31.83 | 46.65 | 43.73 | 40.11 | 18.27 | |
Total Liabilities | 8.59 | 14.78 | 24.77 | 51.69 | 71.09 | 70.96 | 75.79 | 74.63 |
0.44 | 1.74 | 1.61 | 0.98 | 1.26 | 1.13 | 0.93 | 0.69 | |
CWIP | 0.00 | 0.00 | 0.00 | 0.00 | 0.02 | 0.00 | 0.00 | 24.08 |
Investments | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
8.15 | 13.04 | 23.16 | 50.71 | 69.81 | 69.83 | 74.86 | 49.86 | |
Total Assets | 8.59 | 14.78 | 24.77 | 51.69 | 71.09 | 70.96 | 75.79 | 74.63 |
Cash Flows
Figures in Rs. Crores
Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | |
---|---|---|---|---|---|---|---|---|
1.24 | -3.83 | 5.00 | 2.13 | 2.47 | 5.74 | |||
-0.08 | -3.37 | -2.96 | -0.64 | -0.67 | -27.23 | |||
-0.35 | 5.86 | -1.60 | -1.55 | -0.31 | 21.70 | |||
Net Cash Flow | 0.81 | -1.34 | 0.44 | -0.05 | 1.49 | 0.21 |
Ratios
Figures in Rs. Crores
Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | |
---|---|---|---|---|---|---|---|---|
Debtor Days | 278.64 | 75.20 | 180.89 | 136.89 | 136.07 | 147.33 | 254.92 | 104.84 |
Inventory Days | ||||||||
Days Payable | ||||||||
Cash Conversion Cycle | 278.64 | 75.20 | 180.89 | 136.89 | 136.07 | 147.33 | 254.92 | 104.84 |
Working Capital Days | 247.56 | 28.51 | 19.97 | 76.79 | 63.85 | 80.98 | 172.34 | 164.01 |
ROCE % | 23.02% | 36.86% | 42.06% | 34.36% | 28.64% | 10.65% | 4.30% |
Product Portfolio
The company's products include mono/ multi-crystalline solar photovoltaic modules, solar lanterns, solar street lights, solar water pumps and solar inverters.[1][2]