Solex Energy Ltd

Solex Energy Ltd

₹ 1,523 4.33%
24 May - close price
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 1,218 Cr.
  • Current Price 1,523
  • High / Low 1,532 / 387
  • Stock P/E 312
  • Book Value 47.8
  • Dividend Yield 0.01 %
  • ROCE 12.0 %
  • ROE 7.46 %
  • Face Value 10.0

Pros

  • Debtor days have improved from 143 to 68.4 days.
  • Company's working capital requirements have reduced from 150 days to 113 days

Cons

  • Stock is trading at 31.9 times its book value
  • Company has low interest coverage ratio.
  • The company has delivered a poor sales growth of 9.80% over past five years.
  • Company has a low return on equity of 6.02% 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.

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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 Sep 2023
85 70 68 22 57 35 37 21 141 93
80 67 64 21 55 34 36 19 132 84
Operating Profit 5 4 4 2 2 1 1 2 9 9
OPM % 6% 5% 6% 7% 3% 3% 2% 9% 7% 9%
0 0 0 0 0 0 0 -0 3 1
Interest 0 0 1 0 1 0 1 1 4 4
Depreciation 0 0 0 0 0 0 0 1 4 4
Profit before tax 5 3 3 1 1 1 0 -1 4 1
Tax % 28% 22% 35% 26% 31% 31% -5% 22% 29% 45%
3 2 2 1 1 1 0 -0 3 1
EPS in Rs 6.70 4.92 4.09 1.80 1.60 0.74 0.50 -0.58 3.96 0.91
Raw PDF
Upcoming result date: 28 May 2024

Profit & Loss

Figures in Rs. Crores

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
6 46 34 101 149 138 80 72 161 234
6 45 32 96 141 131 76 70 150 216
Operating Profit 0 1 2 6 8 7 3 2 11 18
OPM % 5% 2% 6% 6% 5% 5% 4% 3% 7% 8%
0 0 0 0 0 0 0 0 3 4
Interest 0 1 1 1 1 1 1 1 6 8
Depreciation 0 0 0 1 1 0 0 0 5 8
Profit before tax 0 1 1 4 7 6 2 1 4 6
Tax % 29% 31% 33% 28% 27% 29% 29% 20% 30%
0 0 1 3 5 4 2 1 3 4
EPS in Rs 1.22 2.60 4.09 6.40 10.06 9.01 3.40 1.24 3.39 4.87
Dividend Payout % 0% 0% 0% 16% 0% 6% 9% 12% 4%
Compounded Sales Growth
10 Years: %
5 Years: 10%
3 Years: 5%
TTM: 305%
Compounded Profit Growth
10 Years: %
5 Years: -3%
3 Years: -15%
TTM: 6600%
Stock Price CAGR
10 Years: %
5 Years: 126%
3 Years: 204%
1 Year: 250%
Return on Equity
10 Years: %
5 Years: 12%
3 Years: 6%
Last Year: 7%

Balance Sheet

Figures in Rs. Crores

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 1 2 2 5 5 5 5 8 8 8
Reserves 0 0 1 9 13 17 19 27 30 30
4 4 1 6 6 5 12 19 66 81
4 9 20 32 47 44 40 18 37 68
Total Liabilities 9 15 25 52 71 71 76 73 141 188
0 2 2 1 1 1 1 1 55 58
CWIP 0 0 0 0 0 0 0 24 1 0
Investments 0 0 0 0 0 0 0 0 0 0
8 13 23 51 70 70 75 48 85 129
Total Assets 9 15 25 52 71 71 76 73 141 188

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 4 21
-0 -3 -3 -1 -1 -27 -47
-0 6 -2 -2 -0 22 26
Net Cash Flow 1 -1 0 -0 1 -2 -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 68
Inventory Days
Days Payable
Cash Conversion Cycle 279 75 181 137 136 147 255 105 68
Working Capital Days 248 29 20 77 64 81 172 165 113
ROCE % 23% 37% 42% 34% 29% 11% 4% 12%

Shareholding Pattern

Numbers in percentages

1 Recently
Mar 2019Sep 2019Mar 2020Sep 2020Mar 2021Apr 2021Sep 2021Mar 2022Sep 2022Mar 2023Sep 2023Mar 2024
70.43% 70.43% 70.43% 70.43% 70.43% 70.65% 43.49% 70.65% 70.65% 70.65% 70.65% 70.66%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 1.10%
29.57% 29.57% 29.57% 29.57% 29.57% 29.35% 56.51% 29.36% 29.35% 29.35% 29.35% 28.24%
No. of Shareholders 2412252252202142462453083035679171,402

* 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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