Swelect Energy Systems Ltd

₹ 1,256 -1.88%

28 Jun - close price

swelectes.com BSE: 532051 NSE: SWELECTES

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]

Website BSE NSE

Market Cap ₹ 1,904 Cr.
Current Price ₹ 1,256
High / Low ₹ 1,526 / 318
Stock P/E 55.3
Book Value ₹ 517
Dividend Yield 0.24 %
ROCE 6.06 %
ROE 4.53 %
Face Value ₹ 10.0

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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.

Peer comparison

Sector: Capital Goods - Electrical Equipment Industry: Electric Equipment

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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:	15%
5 Years:	50%
3 Years:	77%
1 Year:	292%

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 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 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	12,976	13,002	13,636	13,489	16,256	18,086	18,789	14,707	13,642	16,531	16,844	23,905

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

* 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.

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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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