Solex Energy Ltd

Solex Energy Ltd

₹ 424 1.23%
06 Jun 3:31 p.m.
About

Solex Energy Ltd is engaged in manufacturing of solar panels and other renewable energy devices and installation of system on EPC basis.[1]

Key Points

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]

  • Market Cap 339 Cr.
  • Current Price 424
  • High / Low 486 / 113
  • Stock P/E 125
  • Book Value 47.0
  • Dividend Yield 0.04 %
  • ROCE 16.8 %
  • ROE 7.73 %
  • Face Value 10.0

Pros

  • Debtor days have improved from 136 to 46.8 days.
  • Company's working capital requirements have reduced from 137 days to 73.3 days

Cons

  • Stock is trading at 9.21 times its book value
  • Company has low interest coverage ratio.
  • The company has delivered a poor sales growth of 9.83% over past five years.
  • Company has a low return on equity of 6.11% over last 3 years.
  • 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.

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Half Yearly Results

Figures in Rs. Crores

Mar 2019 Sep 2019 Mar 2020 Sep 2020 Mar 2021 Sep 2021 Mar 2022 Sep 2022 Mar 2023
85 70 68 22 57 35 37 21 141
80 67 64 21 55 34 36 19 132
Operating Profit 5 4 4 2 2 1 1 2 9
OPM % 6% 5% 6% 7% 3% 3% 2% 9% 7%
0 0 0 0 0 0 0 -0 3
Interest 0 0 1 0 1 0 1 1 4
Depreciation 0 0 0 0 0 0 0 1 4
Profit before tax 5 3 3 1 1 1 0 -1 4
Tax % 28% 22% 35% 26% 31% 31% -5% 22% 29%
Net Profit 3 2 2 1 1 1 0 -0 3
EPS in Rs 6.70 4.92 4.09 1.80 1.60 0.74 0.50 -0.58 3.96
Raw PDF

Profit & Loss

Figures in Rs. Crores

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
6 46 34 101 149 138 80 72 162
6 45 32 96 141 131 76 70 150
Operating Profit 0 1 2 6 8 7 3 2 11
OPM % 5% 2% 6% 6% 5% 5% 4% 3% 7%
0 0 0 0 0 0 0 0 3
Interest 0 1 1 1 1 1 1 1 6
Depreciation 0 0 0 1 1 0 0 0 5
Profit before tax 0 1 1 4 7 6 2 1 4
Tax % 29% 31% 33% 28% 27% 29% 29% 20% 30%
Net Profit 0 0 1 3 5 4 2 1 3
EPS in Rs 1.22 2.60 4.09 6.40 10.06 9.01 3.40 1.24 3.39
Dividend Payout % 0% 0% 0% 16% 0% 6% 9% 12% 4%
Compounded Sales Growth
10 Years: %
5 Years: 10%
3 Years: 5%
TTM: 124%
Compounded Profit Growth
10 Years: %
5 Years: -3%
3 Years: -15%
TTM: 174%
Stock Price CAGR
10 Years: %
5 Years: 58%
3 Years: 144%
1 Year: 172%
Return on Equity
10 Years: %
5 Years: 12%
3 Years: 6%
Last Year: 8%

Balance Sheet

Figures in Rs. Crores

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
1 2 2 5 5 5 5 8 8
Reserves 0 0 1 9 13 17 19 27 30
4 4 1 6 6 5 12 21 66
4 9 20 32 47 44 40 18 37
Total Liabilities 9 15 25 52 71 71 76 75 141
0 2 2 1 1 1 1 1 55
CWIP 0 0 0 0 0 0 0 24 1
Investments 0 0 0 0 0 0 0 0 0
8 13 23 51 70 70 75 50 85
Total Assets 9 15 25 52 71 71 76 75 141

Cash Flows

Figures in Rs. Crores

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
1 -4 5 2 2 6 21
-0 -3 -3 -1 -1 -27 -47
-0 6 -2 -2 -0 22 26
Net Cash Flow 1 -1 0 -0 1 0 -0

Ratios

Figures in Rs. Crores

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 279 75 181 137 136 147 255 105
Inventory Days
Days Payable
Cash Conversion Cycle 279 75 181 137 136 147 255 105
Working Capital Days 248 29 20 77 64 81 172 164
ROCE % 23% 37% 42% 34% 29% 11% 4%

Shareholding Pattern

Numbers in percentages

Mar 2018 Sep 2018 Mar 2019 Sep 2019 Mar 2020 Sep 2020 Mar 2021 Apr 2021 Sep 2021 Mar 2022 Sep 2022 Mar 2023
70.43 70.43 70.43 70.43 70.43 70.43 70.43 70.65 43.49 70.65 70.65 70.65
29.57 29.57 29.57 29.57 29.57 29.57 29.57 29.35 56.51 29.36 29.35 29.35

Documents