Swelect Energy Systems Ltd

₹ 607 3.98%

02 Nov - 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] ^[2]
The company is a part of the Swelect Group and was formerly known as Numeric Power Systems Ltd. It has evolved from a leading UPS and power electronics solutions provider into an integrated clean energy solutions company. It is engaged in solar power generation, manufacturing of PV inverters, solar charge controllers, and solar junction boxes, along with rooftop solar installations and EPC services for solar projects.

Website BSE NSE

Market Cap ₹ 921 Cr.
Current Price ₹ 607
High / Low ₹ 821 / 480
Stock P/E 21.4
Book Value ₹ 608
Dividend Yield 0.58 %
ROCE 8.00 %
ROE 5.34 %
Face Value ₹ 10.0

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Pros

Stock is trading at 1.00 times its book value
Company has delivered good profit growth of 19.2% 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 low interest coverage ratio.
Company has a low return on equity of 1.93% 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.

Peer comparison

Industrials Capital Goods Electrical Equipment Heavy Electrical Equipment

Part of BSE Industrials

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Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	85.05	48.35	63.54	75.52	113.84	197.64	91.38	218.81	177.22	138.86	138.63	202.42	130.77
	61.50	31.57	40.06	51.66	92.85	168.81	72.97	190.18	135.50	98.10	105.21	166.94	102.37
Operating Profit	23.55	16.78	23.48	23.86	20.99	28.83	18.41	28.63	41.72	40.76	33.42	35.48	28.40
OPM %	27.69%	34.71%	36.95%	31.59%	18.44%	14.59%	20.15%	13.08%	23.54%	29.35%	24.11%	17.53%	21.72%
	12.70	12.15	6.94	45.14	11.88	12.07	8.94	14.05	11.62	8.52	6.75	7.29	9.94
Interest	11.15	10.76	12.03	17.40	13.51	14.74	13.11	15.67	13.93	15.57	14.50	17.22	15.24
Depreciation	11.43	10.08	10.00	11.97	10.25	10.42	11.24	11.27	11.56	12.80	11.66	12.75	12.70
Profit before tax	13.67	8.09	8.39	39.63	9.11	15.74	3.00	15.74	27.85	20.91	14.01	12.80	10.40
Tax %	15.44%	9.64%	2.03%	9.08%	27.66%	42.95%	453.00%	42.95%	24.09%	24.29%	32.05%	13.36%	26.35%
	11.55	7.31	8.22	36.02	6.59	8.99	-10.58	8.98	21.14	15.83	9.52	11.09	7.66
EPS in Rs	7.20	4.51	5.23	23.97	4.14	5.43	-7.10	5.84	13.55	10.01	6.11	6.73	4.66
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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	TTM
	222	276	241	294	228	252	253	391	246	243	622	657	611
	214	253	217	261	202	216	202	321	184	159	525	506	473
Operating Profit	8	23	24	34	25	36	51	70	62	84	97	151	138
OPM %	3.5%	8%	10%	11%	11%	14%	20%	18%	25%	35%	16%	23%	23%
	24	32	36	27	27	4	23	21	2	79	47	34	32
Interest	13	12	10	10	15	17	18	25	30	51	57	61	63
Depreciation	17	17	19	23	26	30	28	31	26	42	43	49	50
Profit before tax	2	26	31	27	10	-7	28	36	8	70	44	76	58
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	44
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	27.51
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:	-11%

Compounded Profit Growth
10 Years:	13%
5 Years:	19%
3 Years:	206%
TTM:	60%

Stock Price CAGR
10 Years:	10%
5 Years:	20%
3 Years:	-3%
1 Year:	-25%

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

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	629	798
	84	57	87	70	70	97	90	166	148	254	263	364
Total Liabilities	901	871	901	991	994	1,044	1,192	1,401	1,485	1,661	1,749	2,082
	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	802
Total Assets	901	871	901	991	994	1,044	1,192	1,401	1,485	1,661	1,749	2,082

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/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit	14%	43%	144%	42%	300%	89%	73%	149%	217%	115%	142%	68%

Ratios

Consolidated / 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	80	99	78	38	34
Inventory Days	86	83	157	135	191	209	210	289	412	1,034	166	179
Days Payable	107	91	176	104	173	160	178	231	244	411	108	150
Cash Conversion Cycle	70	86	90	103	82	128	129	138	267	702	95	63
Working Capital Days	128	-15	-23	-107	-175	-178	-186	-99	-267	-275	-62	-84
ROCE %	1%	3%	5%	4%	1%	2%	4%	5%	4%	5%	5%	8%

Insights

In beta

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Permanent Employees
Number ・Standalone data

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xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xxx.xx	xxx.xx	xxx.xx	xxx.xx
xxx	xxx	xxx	xxx	xxx	xxx	xxx	xxx	xxx	xxx	xxx
xx	xx	xxx							xxx	xxx

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Solar Power Installed Capacity
MW

Solar PV Module Manufacturing Capacity
MW

Cumulative Solar EPC Projects Executed
MW ・Standalone data

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

2 Recently

	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 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%
	0.04%	0.06%	0.12%	0.07%	0.09%	0.06%	0.05%	0.04%	0.22%	0.23%	0.58%	0.07%
	0.00%	0.47%	0.20%	0.00%	0.00%	0.04%	0.04%	0.00%	0.00%	0.00%	0.00%	0.00%
	43.60%	43.11%	43.32%	43.57%	43.54%	43.53%	43.54%	43.60%	43.41%	43.40%	43.06%	43.58%
No. of Shareholders	16,844	23,905	27,192	45,230	47,661	33,572	31,523	30,584	28,836	27,718	27,232	26,571

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	Sep 2026
	64.08%	54.69%	56.19%	56.36%	56.37%	56.37%	56.36%	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%	0.07%
	1.72%	0.64%	0.31%	0.02%	0.00%	0.00%	0.00%	0.47%	0.04%	0.00%	0.00%
	34.20%	44.67%	43.50%	43.62%	43.63%	43.57%	43.64%	43.11%	43.53%	43.40%	43.58%
No. of Shareholders	10,826	13,174	12,888	12,694	12,309	13,489	14,707	23,905	33,572	27,718	26,571

* 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

Insights

Shareholding Pattern

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