Swelect Energy Systems Ltd

About [ edit ]

Swelect Energy Systems 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, (Source : 201903 Annual Report Page No: 65)

  • Market Cap 349 Cr.
  • Current Price 230
  • High / Low 264 / 74.2
  • Stock P/E 11.7
  • Book Value 489
  • Dividend Yield 0.87 %
  • ROCE 2.02 %
  • ROE -0.91 %
  • Face Value 10.0

Pros

  • Stock is trading at 0.47 times its book value

Cons

  • The company has delivered a poor sales growth of 2.60% over past five years.
  • Company has a low return on equity of 0.04% for last 3 years.
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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Mar 2016 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
69.58 78.06 55.51 45.97 48.11 55.70 70.45 63.01 63.06 63.24 52.13 58.61
66.86 69.90 52.78 39.87 39.90 54.46 58.96 54.87 56.20 50.89 37.46 46.99
Operating Profit 2.72 8.16 2.73 6.10 8.21 1.24 11.49 8.14 6.86 12.35 14.67 11.62
OPM % 3.91% 10.45% 4.92% 13.27% 17.07% 2.23% 16.31% 12.92% 10.88% 19.53% 28.14% 19.83%
Other Income 4.59 3.78 6.48 8.87 7.43 5.96 7.84 7.67 -9.11 10.55 6.59 9.21
Interest 2.36 3.88 3.77 3.90 3.77 3.93 4.68 4.04 4.62 4.08 4.34 4.77
Depreciation 4.11 5.72 6.29 7.27 6.70 6.69 7.59 7.83 7.75 6.95 6.85 7.07
Profit before tax 0.84 2.34 -0.85 3.80 5.17 -3.42 7.06 3.94 -14.62 11.87 10.07 8.99
Tax % -21.43% 52.99% -32.94% 37.11% 13.35% -0.29% 15.30% 45.43% -1.78% 3.62% -0.79% 0.89%
Net Profit 1.02 1.10 -1.14 2.39 4.48 -3.43 5.98 2.15 -14.88 11.45 10.16 8.91
EPS in Rs 0.67 0.72 -0.75 1.57 2.95 -2.26 3.94 1.42 -9.82 7.55 6.70 5.88

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 TTM
444 460 510 599 176 176 222 276 241 294 228 252 237
394 409 453 544 174 170 216 253 217 261 202 231 192
Operating Profit 49 51 58 56 2 6 5 23 24 34 25 21 46
OPM % 11% 11% 11% 9% 1% 4% 2% 8% 10% 11% 11% 8% 19%
Other Income 12 8 3 1 674 27 27 32 36 27 27 19 17
Interest 5 4 4 5 4 5 13 12 10 10 15 17 18
Depreciation 4 5 5 7 7 10 17 17 19 23 26 30 29
Profit before tax 52 50 52 45 665 18 2 26 31 27 10 -7 16
Tax % 27% 25% 21% 23% 22% 11% 117% 36% 30% 42% 35% -45%
Net Profit 38 38 41 35 521 16 -0 17 22 16 7 -10 16
EPS in Rs 25.31 24.95 26.94 22.88 342.68 10.64 -0.25 10.89 14.23 10.45 4.49 -6.71 10.31
Dividend Payout % 7% 8% 7% 9% 2% 56% -665% 24% 19% 25% 37% -30%
Compounded Sales Growth
10 Years:-6%
5 Years:3%
3 Years:1%
TTM:-0%
Compounded Profit Growth
10 Years:%
5 Years:%
3 Years:%
TTM:226%
Stock Price CAGR
10 Years:3%
5 Years:-4%
3 Years:-3%
1 Year:176%
Return on Equity
10 Years:11%
5 Years:1%
3 Years:0%
Last Year:-1%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Sep 2020
5 10 10 10 10 10 10 10 10 10 10 15 15
Reserves 179 206 246 282 655 668 668 672 690 705 716 704 726
Borrowings 7 25 50 43 47 101 139 132 114 206 198 228 245
81 71 85 90 93 99 84 57 87 70 70 97 95
Total Liabilities 272 311 391 426 805 879 901 871 901 991 994 1,044 1,081
51 70 88 115 184 267 290 301 323 376 427 441 437
CWIP 6 2 3 21 1 12 17 1 3 12 13 11 45
Investments 1 1 3 1 281 292 257 288 257 272 258 242 253
214 239 297 289 339 309 337 281 319 331 296 350 346
Total Assets 272 311 391 426 805 879 901 871 901 991 994 1,044 1,081

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
30 28 16 43 -36 -44 -5 4 29 3 69 28
-14 -21 -23 -34 176 19 49 42 18 -98 -120 -30
-15 -8 12 -12 -118 44 15 -28 -52 49 -53 -4
Net Cash Flow 0 -1 5 -3 23 19 59 17 -5 -47 -103 -6

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
ROCE % 28% 25% 20% 16% 8% 2% 1% 3% 5% 4% 1% 2%
Debtor Days 75 84 90 75 67 90 91 93 109 72 64 78
Inventory Turnover 3.77 3.43 3.14 3.46 1.56 3.65 4.29 4.99 2.92 2.91 1.89 2.05

Shareholding Pattern

Numbers in percentages

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021
55.85 56.03 56.15 56.19 56.19 56.22 56.33 56.36 56.37 56.37 56.37 56.37
0.11 0.30 0.06 0.31 0.02 0.02 0.04 0.02 0.02 0.02 0.02 0.00
44.03 43.68 43.79 43.50 43.79 43.77 43.63 43.62 43.62 43.62 43.62 43.63

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