Solex Energy Ltd

Solex Energy Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Solex Energy Ltd

₹ 1,506 -2.65%
12 Dec - close price
solex.in NSE - SME: SOLEX
About

Incorporated in 1995, Solex Energy Ltd manufactures solar photo-voltaic cells and modules and is also in the Engineering, Procurement and Construction in the solar energy market[1]

Key Points

Business Overview:[1][2]
SEL specializes in renewable energy solutions and manufactures Solar Photovoltaic (PV) Module and solar home lighting systems in India. Its operations include turnkey projects, spanning Residential Rooftop, Commercial, Industrial, and Utility Ventures. Company is engaged in OEM and ODM partnerships with Indian and International entities for module production under their brand names

Website NSE - SM
  • Market Cap ₹ 1,627 Cr.
  • Current Price ₹ 1,506
  • High / Low ₹ 1,787 / 332
  • Stock P/E 77.1
  • Book Value ₹ 122
  • Dividend Yield 0.04 %
  • ROCE 17.9 %
  • ROE 20.8 %
  • Face Value ₹ 10.0
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Pros

  • Debtor days have improved from 73.5 to 46.6 days.
  • Company's working capital requirements have reduced from 116 days to 72.8 days

Cons

  • Stock is trading at 12.4 times its book value
  • Promoter holding has decreased over last quarter: -4.51%
  • Company has a low return on equity of 11.6% over last 3 years.

* 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: Electric Equipment

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Half Yearly Results

Standalone Figures in Rs. Crores / View Consolidated

Mar 2019 Sep 2019 Mar 2020 Sep 2020 Mar 2021 Sep 2021 Mar 2022 Sep 2022 Mar 2023 Sep 2023 Mar 2024 Sep 2024
85 70 68 22 57 35 37 21 141 93 273 273
80 67 64 21 55 34 36 19 132 84 253 249
Operating Profit 5 4 4 2 2 1 1 2 9 9 20 24
OPM % 6% 5% 6% 7% 3% 3% 2% 9% 7% 9% 7% 9%
0 0 0 0 0 0 0 -0 3 1 1 1
Interest 0 0 1 0 1 0 1 1 4 4 6 4
Depreciation 0 0 0 0 0 0 0 1 4 4 4 4
Profit before tax 5 3 3 1 1 1 0 -1 4 1 10 17
Tax % 28% 22% 35% 26% 31% 31% -5% -22% 29% 45% 22% 24%
3 2 2 1 1 1 0 -0 3 1 8 13
EPS in Rs 5.34 3.92 3.26 1.44 1.27 0.59 0.40 -0.46 3.17 0.73 8.01 12.11
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 TTM
6 46 34 101 149 138 80 72 161 366 546
6 45 32 96 141 131 76 70 150 337 502
Operating Profit 0 1 2 6 8 7 3 2 11 28 44
OPM % 5% 2% 6% 6% 5% 5% 4% 3% 7% 8% 8%
0 0 0 0 0 0 0 0 3 2 2
Interest 0 1 1 1 1 1 1 1 6 10 10
Depreciation 0 0 0 1 1 0 0 0 5 8 8
Profit before tax 0 1 1 4 7 6 2 1 4 12 27
Tax % 29% 31% 33% 28% 27% 29% 29% 20% 30% 24%
0 0 1 3 5 4 2 1 3 9 21
EPS in Rs 1.00 2.05 3.25 5.10 8.02 7.18 2.71 0.99 2.71 8.73 20.12
Dividend Payout % 0% 0% 0% 16% 0% 6% 9% 12% 0% 5%
Compounded Sales Growth
10 Years: %
5 Years: 20%
3 Years: 66%
TTM: 133%
Compounded Profit Growth
10 Years: %
5 Years: 12%
3 Years: 75%
TTM: 441%
Stock Price CAGR
10 Years: %
5 Years: 133%
3 Years: 247%
1 Year: 277%
Return on Equity
10 Years: %
5 Years: 12%
3 Years: 12%
Last Year: 21%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Sep 2024
Equity Capital 0.82 2 2 5 5 5 5 8 8 8 11
Reserves 0 0 1 9 13 17 19 27 30 38 121
4 4 1 6 6 5 12 19 66 96 73
4 9 20 32 47 44 40 18 37 70 93
Total Liabilities 9 15 25 52 71 71 76 73 141 212 298
0 2 2 1 1 1 1 1 55 54 50
CWIP 0 0 0 0 0 0 0 24 1 0 1
Investments 0 0 0 0 0 0 0 0 1 15 3
8 13 23 51 70 70 75 48 85 143 244
Total Assets 9 15 25 52 71 71 76 73 141 212 298

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
1 -4 5 2 2 4 -6 2
-0 -3 -3 -1 -1 -27 -35 -21
-0 6 -2 -2 -0 22 41 20
Net Cash Flow 1 -1 0 -0 1 -2 -0 0

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 279 75 181 137 136 147 255 105 68 47
Inventory Days
Days Payable
Cash Conversion Cycle 279 75 181 137 136 147 255 105 68 47
Working Capital Days 248 29 20 77 64 81 172 165 112 73
ROCE % 23% 37% 42% 34% 29% 11% 4% 12% 18%

Shareholding Pattern

Numbers in percentages

2 Recently
Sep 2019Mar 2020Sep 2020Mar 2021Apr 2021Sep 2021Mar 2022Sep 2022Mar 2023Sep 2023Mar 2024Sep 2024
70.43% 70.43% 70.43% 70.43% 70.65% 43.49% 70.65% 70.65% 70.65% 70.65% 70.66% 66.15%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.03%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 1.10% 0.89%
29.57% 29.57% 29.57% 29.57% 29.35% 56.51% 29.36% 29.35% 29.35% 29.35% 28.24% 32.94%
No. of Shareholders 2252252202142462453083035679171,4022,269

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

Click on the line-items to see the names of individual entities.

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