Swelect Energy Systems Ltd

₹ 611 -2.75%

25 May - 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

Market Cap ₹ 927 Cr.
Current Price ₹ 611
High / Low ₹ 979 / 480
Stock P/E 16.4
Book Value ₹ 608
Dividend Yield 0.49 %
ROCE 8.52 %
ROE 6.36 %
Face Value ₹ 10.0

Add ratio to table

Edit ratios

Pros

Stock is trading at 1.01 times its book value
Company has delivered good profit growth of 23.4% CAGR over last 5 years
Company has been maintaining a healthy dividend payout of 18.5%
Debtor days have improved from 50.1 to 33.9 days.

Cons

Company has a low return on equity of 3.56% over last 3 years.
Working capital days have increased from -89.4 days to 68.8 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.

Peer comparison

Industrials Capital Goods Electrical Equipment Heavy Electrical Equipment

Part of BSE Industrials

Edit Columns

Loading peers table ...

Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
	62	85	48	64	76	114	198	91	219	177	139	139	202
	50	62	32	40	52	93	169	73	190	136	98	105	167
Operating Profit	12	24	17	23	24	21	29	18	29	42	41	33	35
OPM %	19%	28%	35%	37%	32%	18%	15%	20%	13%	24%	29%	24%	18%
	9	13	12	7	45	12	12	9	14	12	9	7	7
Interest	8	11	11	12	17	14	15	13	16	14	16	14	17
Depreciation	7	11	10	10	12	10	10	11	11	12	13	12	13
Profit before tax	5	14	8	8	40	9	16	3	16	28	21	14	13
Tax %	15%	15%	10%	2%	9%	28%	43%	453%	43%	24%	24%	32%	13%
	4	12	7	8	36	7	9	-11	9	21	16	10	11
EPS in Rs	2.31	7.20	4.51	5.23	23.97	4.14	5.43	-7.10	5.84	13.55	10.01	6.11	6.73
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	222	276	241	294	228	252	253	354	246	243	622	657
	214	253	217	261	202	216	202	273	184	159	525	506
Operating Profit	8	23	24	34	25	36	51	81	62	84	97	151
OPM %	3%	8%	10%	11%	11%	14%	20%	23%	25%	35%	16%	23%
	24	32	36	27	27	4	23	5	2	79	47	34
Interest	13	12	10	10	15	17	18	23	30	51	57	61
Depreciation	17	17	19	23	26	30	28	28	26	42	43	49
Profit before tax	2	26	31	27	10	-7	28	36	8	70	44	76
Tax %	117%	36%	30%	42%	35%	45%	5%	9%	18%	10%	68%	24%
	-0	17	22	16	7	-10	26	32	6	63	14	58
EPS in Rs	-0.25	10.89	14.23	10.45	4.49	-6.71	17.20	21.37	3.65	40.88	8.31	36.39
Dividend Payout %	-665%	24%	19%	25%	37%	-30%	17%	14%	33%	10%	36%	10%

Compounded Sales Growth
10 Years:	9%
5 Years:	21%
3 Years:	39%
TTM:	6%

Compounded Profit Growth
10 Years:	15%
5 Years:	23%
3 Years:	224%
TTM:	1047%

Stock Price CAGR
10 Years:	8%
5 Years:	21%
3 Years:	20%
1 Year:	9%

Return on Equity
10 Years:	2%
5 Years:	3%
3 Years:	4%
Last Year:	6%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	10	10	10	10	10	15	15	15	15	15	15	15
Reserves	668	672	690	705	716	704	727	760	772	823	842	906
	139	132	114	206	198	228	358	459	550	569	628	798
	84	57	87	70	70	97	90	166	148	254	265	364
Total Liabilities	901	871	901	991	994	1,044	1,192	1,401	1,485	1,661	1,749	2,083
	290	301	323	376	427	441	463	566	666	717	813	842
CWIP	17	1	3	12	13	11	72	25	32	7	7	162
Investments	257	288	257	272	258	242	277	291	285	275	268	276
	337	281	319	331	296	350	380	519	504	663	661	803
Total Assets	901	871	901	991	994	1,044	1,192	1,401	1,485	1,661	1,749	2,083

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	-5	4	29	3	69	28	33	97	131	90	130	95
	49	42	18	-98	-120	-30	-142	-73	-284	-83	-113	-198
	15	-28	-52	49	-53	-4	94	99	11	34	19	50
Net Cash Flow	59	17	-5	-47	-103	-6	-15	124	-142	40	37	-52
Free Cash Flow	-49	-82	17	-97	1	-19	-82	11	-19	-38	-7	-138
CFO/OP	14%	43%	144%	42%	300%	89%	73%	130%	217%	115%	142%	68%

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor Days	91	93	109	72	64	78	96	89	99	78	38	34
Inventory Days	86	83	157	135	191	209	210	346	412	1,034	166	179
Days Payable	107	91	176	104	173	160	178	277	244	411	108	150
Cash Conversion Cycle	70	86	90	103	82	128	129	158	267	702	95	63
Working Capital Days	128	-15	-23	-107	-175	-178	12	-109	-267	-275	-62	69
ROCE %	1%	3%	5%	4%	1%	2%	4%	6%	4%	5%	5%	9%

Insights

In beta

Mar 2015

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Solar PV Module Manufacturing Capacity
MW

xx	xxx	xxx		xxx	xxx	xxx	xxx	xxx	x,xxx	x,xxx
xx.xx	xx.xx	xx.xx	xx.xx	xx.xx			xxx.xx	xxx.xx	xxx.xx	xxx.xx
xx	xx	xx	xxx			xxx				x,xxx
		xxx		xxx					xxx	xxx
			x,xxx	xx,xxx					xx,xxx	xx,xxx
				xxx						xxx
										xx
x.xx	x.xx

Please log in to see hidden values.

Solar Power Generation (IPP) Capacity
MW

Cumulative Solar Experience (Projects Executed)
MW

Module Mounting Structures (MMS) Capacity
MW

Total Cumulative Solar Power Installations
Count

Channel Partner Network
Count

Green Energy Share in Module Manufacturing
%

R&D Expenditure (Percentage of Turnover)
% ・Standalone data

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
	56.36%	56.36%	56.36%	56.36%	56.36%	56.36%	56.36%	56.36%	56.36%	56.36%	56.36%	56.36%
	0.03%	0.06%	0.04%	0.06%	0.12%	0.07%	0.09%	0.06%	0.05%	0.04%	0.22%	0.23%
	0.00%	0.41%	0.00%	0.47%	0.20%	0.00%	0.00%	0.04%	0.04%	0.00%	0.00%	0.00%
	43.61%	43.17%	43.60%	43.11%	43.32%	43.57%	43.54%	43.53%	43.54%	43.60%	43.41%	43.40%
No. of Shareholders	13,642	16,531	16,844	23,905	27,192	45,230	47,661	33,572	31,523	30,584	28,836	27,718

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	64.08%	54.69%	56.19%	56.36%	56.37%	56.37%	56.36%	56.36%	56.36%	56.36%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.06%	0.00%	0.06%	0.06%	0.23%
	1.72%	0.64%	0.31%	0.02%	0.00%	0.00%	0.00%	0.47%	0.04%	0.00%
	34.20%	44.67%	43.50%	43.62%	43.63%	43.57%	43.64%	43.11%	43.53%	43.40%
No. of Shareholders	10,826	13,174	12,888	12,694	12,309	13,489	14,707	23,905	33,572	27,718

* 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.

Swelect Energy Systems Ltd

Swelect Energy Systems Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Insights

Shareholding Pattern

Documents

Announcements

Annual reports

Credit ratings