Swelect Energy Systems Ltd

Swelect Energy Systems Ltd

₹ 1,248 5.00%
28 May - close price
About

Swelect Energy Systems Ltd, incorporated in 1994, is engaged in the business of manufacturing and trading of Solar power projects, off-grid solar photovoltaic modules, based on crystalline silicon technology (c-Si), solar and wind power generation, contract manufacturing services, installation and maintenance services, sale of Solar Photovoltaic inverters and energy efficient lighting systems. [1]

Key Points

Company Overview
The company is engaged in the business of manufacturing and trading Solar power projects, off-grid solar photovoltaic modules, based on crystalline silicon technology (c-Si), solar and wind power generation, contract manufacturing services, installation and maintenance services, sale of Solar Photovoltaic inverters and energy efficient lighting systems. [1]

  • Market Cap 1,891 Cr.
  • Current Price 1,248
  • High / Low 1,526 / 314
  • Stock P/E 54.9
  • Book Value 517
  • Dividend Yield 0.10 %
  • ROCE 6.06 %
  • ROE 4.53 %
  • Face Value 10.0

Pros

  • Company is expected to give good quarter
  • Company has delivered good profit growth of 59.1% CAGR over last 5 years

Cons

  • Tax rate seems low
  • Company has a low return on equity of 3.16% over last 3 years.
  • Earnings include an other income of Rs.62.2 Cr.
  • Debtor days have increased from 119 to 147 days.
  • Working capital days have increased from 337 days to 687 days

* 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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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
87 26 19 68 148 30 117 31 50 68 20 114 44
78 27 11 46 132 15 102 27 44 57 15 100 38
Operating Profit 8 -1 8 22 15 15 15 4 6 11 5 15 6
OPM % 10% -4% 40% 32% 10% 50% 12% 13% 12% 17% 24% 13% 14%
-2 8 5 4 9 -9 -1 8 10 15 9 9 29
Interest 4 7 4 5 5 5 6 7 7 8 8 8 9
Depreciation 4 4 4 3 4 3 3 4 3 4 4 4 4
Profit before tax -1 -4 5 17 15 -2 4 1 6 15 2 12 22
Tax % 0% 0% 0% 0% 0% 0% 0% 0% 6% 2% 0% 0% -1%
-1 -4 5 17 15 -2 4 1 6 14 2 12 22
EPS in Rs -0.54 -2.46 3.07 11.51 10.18 -1.36 2.73 0.92 3.87 9.45 1.54 8.10 14.76
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
106 51 48 163 170 174 120 142 185 225 229 246
111 50 49 153 161 161 118 129 158 173 189 210
Operating Profit -5 1 -0 9 9 12 2 13 27 51 40 37
OPM % -5% 3% -1% 6% 5% 7% 1% 9% 14% 23% 18% 15%
662 29 23 34 46 38 35 -1 26 15 9 62
Interest 2 1 11 10 5 6 7 10 12 19 25 33
Depreciation 5 4 9 13 11 13 14 17 15 14 14 14
Profit before tax 650 25 3 21 38 31 15 -14 24 34 10 51
Tax % 21% 0% 55% 43% 24% 24% 28% -18% 0% 0% 4% 0%
511 25 1 12 29 23 11 -17 24 34 9 51
EPS in Rs 336.05 16.41 0.88 7.90 19.33 15.44 7.27 -11.04 16.04 22.29 6.16 33.84
Dividend Payout % 25% 36% 190% 34% 14% 17% 23% -18% 19% 13% 19% 12%
Compounded Sales Growth
10 Years: 17%
5 Years: 16%
3 Years: 10%
TTM: 8%
Compounded Profit Growth
10 Years: 8%
5 Years: 59%
3 Years: 25%
TTM: 749%
Stock Price CAGR
10 Years: 19%
5 Years: 51%
3 Years: 76%
1 Year: 241%
Return on Equity
10 Years: 2%
5 Years: 3%
3 Years: 3%
Last Year: 5%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Equity Capital 10 10 10 10 10 10 10 15 15 15 15 15
Reserves 622 636 635 617 645 663 669 643 666 695 720 769
27 92 112 60 65 84 93 122 275 290 366 352
50 45 29 67 85 89 95 124 101 194 98 177
Total Liabilities 709 784 786 754 805 847 868 904 1,056 1,195 1,199 1,313
78 145 153 131 146 153 206 236 273 265 250 255
CWIP 1 11 15 0 0 1 1 0 3 1 2 0
Investments 375 393 367 407 386 401 410 370 416 474 523 460
255 235 251 216 273 291 250 299 364 455 424 598
Total Assets 709 784 786 754 805 847 868 904 1,056 1,195 1,199 1,313

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
-40 -64 -21 25 -30 2 25 7 -21 86 9 -30
184 -0 71 9 42 -20 -43 -21 -107 -45 -88 87
-145 55 -2 -67 -25 -10 -23 4 112 30 -11 -1
Net Cash Flow -1 -9 48 -33 -13 -29 -41 -9 -16 71 -90 56

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 45 245 169 101 126 67 54 80 149 96 114 147
Inventory Days 62 200 158 104 143 165 236 249 155 405 159 379
Days Payable 36 47 34 189 215 219 392 354 259 516 90 151
Cash Conversion Cycle 71 398 294 16 54 12 -102 -25 44 -15 183 375
Working Capital Days 24 201 660 147 226 27 208 193 408 82 241 687
ROCE % 6% 2% 1% 3% 6% 5% 0% 2% 3% 7% 5%

Shareholding Pattern

Numbers in percentages

Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
56.37% 56.37% 56.37% 56.37% 56.37% 56.36% 56.36% 56.36% 56.36% 56.36% 56.36% 56.36%
0.00% 0.00% 0.02% 0.06% 0.08% 0.01% 0.07% 0.00% 0.03% 0.06% 0.04% 0.06%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.41% 0.00% 0.47%
43.63% 43.63% 43.61% 43.57% 43.56% 43.64% 43.56% 43.64% 43.61% 43.17% 43.60% 43.11%
No. of Shareholders 12,97613,00213,63613,48916,25618,08618,78914,70713,64216,53116,84423,905

* 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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