Swelect Energy Systems Ltd

₹ 591 -0.01%

04 Jul - close price

swelectes.com BSE: 532051 NSE: SWELECTES

About

Incorporated in 1994, Swelect Energy Systems Ltd is in the business of Solar and Solar
Related Activities^[1]

Key Points

Business Overview:^[1]
SESL, the flagship of the Swelect group, formerly produced UPS under the Numeric brand. Now, it focuses on renewable energy—generating solar and wind power, manufacturing solar modules (1 GW capacity), PV inverters, charge controllers, and junction boxes. It also handles rooftop installations and EPC contracts for solar projects.

Website BSE NSE - BE

Market Cap ₹ 896 Cr.
Current Price ₹ 591
High / Low ₹ 1,360 / 460
Stock P/E 182
Book Value ₹ 565
Dividend Yield 0.51 %
ROCE 5.06 %
ROE 0.58 %
Face Value ₹ 10.0

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Pros

Stock is trading at 1.05 times its book value
Company is expected to give good quarter
Company has been maintaining a healthy dividend payout of 26.2%
Debtor days have improved from 72.0 to 38.1 days.
Company's working capital requirements have reduced from 188 days to 121 days

Cons

Company has low interest coverage ratio.
Company has a low return on equity of 1.47% over last 3 years.
Earnings include an other income of Rs.46.9 Cr.

* 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

Industrials Capital Goods Electrical Equipment Heavy Electrical Equipment

Part of BSE SmallCap BSE Allcap BSE Industrials

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Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025
	158.95	63.41	158.01	25.63	61.73	85.05	48.35	63.54	75.52	113.84	197.64	91.38	218.81
	135.99	41.59	133.69	15.57	49.76	61.50	31.57	40.06	51.66	92.85	168.81	72.97	190.18
Operating Profit	22.96	21.82	24.32	10.06	11.97	23.55	16.78	23.48	23.86	20.99	28.83	18.41	28.63
OPM %	14.44%	34.41%	15.39%	39.25%	19.39%	27.69%	34.71%	36.95%	31.59%	18.44%	14.59%	20.15%	13.08%
	4.71	-10.10	-2.13	3.47	8.75	12.70	12.15	6.94	45.14	11.88	12.07	8.94	14.05
Interest	6.28	6.12	7.97	8.12	8.46	11.15	10.76	12.03	17.40	13.51	14.74	13.11	15.67
Depreciation	8.22	7.80	7.89	6.25	7.12	11.43	10.08	10.00	11.97	10.25	10.42	11.24	11.27
Profit before tax	13.17	-2.20	6.33	-0.84	5.14	13.67	8.09	8.39	39.63	9.11	15.74	3.00	15.74
Tax %	6.61%	23.18%	0.47%	10.71%	14.79%	15.44%	9.64%	2.03%	9.08%	27.66%	42.95%	453.00%	42.95%
	12.30	-2.71	6.32	-0.94	4.38	11.55	7.31	8.22	36.02	6.59	8.99	-10.58	8.98
EPS in Rs	8.11	-1.77	3.72	-0.50	2.31	7.20	4.51	5.23	23.97	4.14	5.43	-7.10	5.84
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	176	222	276	241	294	228	252	253	354	246	243	622
	170	214	253	217	261	202	216	202	273	184	159	525
Operating Profit	6	8	23	24	34	25	36	51	81	62	84	97
OPM %	4%	3%	8%	10%	11%	11%	14%	20%	23%	25%	35%	16%
	27	24	32	36	27	27	4	23	5	2	79	47
Interest	5	13	12	10	10	15	17	18	23	30	51	57
Depreciation	10	17	17	19	23	26	30	28	28	26	42	43
Profit before tax	18	2	26	31	27	10	-7	28	36	8	70	44
Tax %	11%	117%	36%	30%	42%	35%	45%	5%	9%	18%	10%	68%
	17	-0	17	22	16	7	-10	26	32	6	63	14
EPS in Rs	10.64	-0.25	10.89	14.23	10.45	4.49	-6.71	17.20	21.37	3.65	40.88	8.31
Dividend Payout %	56%	-665%	24%	19%	25%	37%	-30%	17%	14%	33%	10%	36%

Compounded Sales Growth
10 Years:	11%
5 Years:	20%
3 Years:	21%
TTM:	156%

Compounded Profit Growth
10 Years:	24%
5 Years:	14%
3 Years:	-45%
TTM:	-83%

Stock Price CAGR
10 Years:	6%
5 Years:	35%
3 Years:	24%
1 Year:	-53%

Return on Equity
10 Years:	2%
5 Years:	2%
3 Years:	1%
Last Year:	1%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	10	10	10	10	10	10	15	15	15	15	15	15
Reserves	668	668	672	690	705	716	704	727	760	772	823	842
	101	139	132	114	206	198	228	358	459	550	569	628
	99	84	57	87	70	70	97	90	166	148	254	265
Total Liabilities	879	901	871	901	991	994	1,044	1,192	1,401	1,485	1,661	1,749
	267	290	301	323	376	427	441	463	566	666	717	813
CWIP	12	17	1	3	12	13	11	72	25	32	7	7
Investments	292	257	288	257	272	258	242	277	291	285	275	268
	309	337	281	319	331	296	350	380	519	504	663	661
Total Assets	879	901	871	901	991	994	1,044	1,192	1,401	1,485	1,661	1,749

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	-44	-5	4	29	3	69	28	33	97	131	90	130
	19	49	42	18	-98	-120	-30	-142	-73	-284	-83	-113
	44	15	-28	-52	49	-53	-4	94	99	11	34	19
Net Cash Flow	19	59	17	-5	-47	-103	-6	-15	124	-142	40	37

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Debtor Days	90	91	93	109	72	64	78	96	89	99	78	38
Inventory Days	122	86	83	157	135	191	209	210	346	412	1,034	166
Days Payable	142	107	91	176	104	173	160	178	277	244	411	108
Cash Conversion Cycle	69	70	86	90	103	82	128	129	158	267	702	95
Working Capital Days	34	174	65	73	90	92	77	312	173	204	241	121
ROCE %	2%	1%	3%	5%	4%	1%	2%	4%	6%	4%	5%	5%

Shareholding Pattern

Numbers in percentages

	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025
	56.37%	56.36%	56.36%	56.36%	56.36%	56.36%	56.36%	56.36%	56.36%	56.36%	56.36%	56.36%
	0.08%	0.01%	0.07%	0.00%	0.03%	0.06%	0.04%	0.06%	0.12%	0.07%	0.09%	0.06%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.41%	0.00%	0.47%	0.20%	0.00%	0.00%	0.04%
	43.56%	43.64%	43.56%	43.64%	43.61%	43.17%	43.60%	43.11%	43.32%	43.57%	43.54%	43.53%
No. of Shareholders	16,256	18,086	18,789	14,707	13,642	16,531	16,844	23,905	27,192	45,230	47,661	33,572

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	64.08%	54.69%	56.19%	56.36%	56.37%	56.37%	56.36%	56.36%	56.36%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.06%	0.00%	0.06%	0.06%
	1.72%	0.64%	0.31%	0.02%	0.00%	0.00%	0.00%	0.47%	0.04%
	34.20%	44.67%	43.50%	43.62%	43.63%	43.57%	43.64%	43.11%	43.53%
No. of Shareholders	10,826	13,174	12,888	12,694	12,309	13,489	14,707	23,905	33,572

* 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.

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Swelect Energy Systems Ltd

Swelect Energy Systems Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Shareholding Pattern

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