Swelect Energy

₹1273.2 60.6 | 5%

WEBSITE BSE:532051 NSE : SWELECT 10 May, 16:01

Market Cap ₹1930 Cr.

Stock P/E 66.2

P/B 2.4

Current Price ₹1273.2

Book Value ₹ 537.1

Face Value 10

52W High ₹1526.4

Dividend Yield 0.09%

52W Low ₹ 314

Edit Ratio

Swelect Energy Research see more...

Overview Inc. Year: 1994Industry: Electronics - Components

Swelect Energy Systems Ltd is engaged inside the business of producing and buying and selling of solar power projects, solar and wind power generation, contract manufacturing offerings, installation and renovation services, sale of sun photovoltaic inverters and energy efficient lights structures. It has three segments: Solar Energy Systems/Services, Contract manufacturing-UPS Systems, and Others. Its merchandise portfolio includes Solar PV modules, Solar Charge Controllers, Solar Inverters, Solar On Grid Inverters, Grid Interactive Inverter Systems, Roof Top and Utility Scale Projects, Module Mounting Structures and Energy Efficient Lighting. Its solutions encompass compact solar home gadget, SPV for base transceiver station (BTS) telecom, SPV for captive intake, solar hybrid uninterruptible power supply (UPS), engineering, procurement, and construction (EPC) and operations and preservation (O&M) for solar farms, and green building solutions.

Swelect Energy Share Price

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Peer Comparison

Swelect Energy Quarterly Results

#(Fig in Cr.)	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023
Net Sales	53	107	151	63	158	26	93	85	84	64
Other Income	6	4	5	1	7	7	9	13	7	8
Total Income	59	111	156	65	165	33	102	98	91	71
Total Expenditure	39	75	125	42	134	16	77	62	60	40
Operating Profit	20	36	31	23	31	17	25	36	31	31
Interest	8	6	7	8	8	8	9	11	12	12
Depreciation	4	7	6	6	8	6	9	11	11	10
Exceptional Income / Expenses	0	0	0	0	0	0	0	0	0	0
Profit Before Tax	8	22	17	9	15	3	7	14	8	9
Provision for Tax	0	2	1	1	0	0	1	2	1	0
Profit After Tax	8	21	16	9	15	3	6	12	7	9
Adjustments	-3	-2	-4	-11	-9	-4	-2	-1	-0	-1
Profit After Adjustments	5	19	12	-3	6	-1	3	11	7	8
Adjusted Earnings Per Share	3.3	12.4	8	-1.8	3.7	-0.5	2.3	7.2	4.5	5.2

Swelect Energy Profit & Loss

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	TTM
Net Sales	176	176	222	276	241	294	228	252	253	354	366	326
Other Income	45	27	27	31	36	27	28	28	30	21	24	37
Total Income	221	203	249	308	277	322	256	280	282	375	390	362
Total Expenditure	174	170	214	253	218	261	205	224	202	273	294	239
Operating Profit	47	33	34	55	59	61	51	55	80	102	96	123
Interest	4	5	13	12	10	10	15	17	18	23	32	44
Depreciation	7	10	17	17	18	23	26	30	28	28	33	41
Exceptional Income / Expenses	629	0	-2	0	0	0	0	-15	-7	0	0	0
Profit Before Tax	665	18	2	26	31	27	10	-7	28	51	31	38
Provision for Tax	144	2	3	9	9	12	4	3	1	3	1	4
Profit After Tax	521	17	-0	17	22	16	7	-10	26	48	30	34
Adjustments	0	-0	-0	0	0	0	0	0	0	-16	-24	-4
Profit After Adjustments	521	16	-0	17	22	16	7	-10	26	32	6	29
Adjusted Earnings Per Share	343.6	10.7	-0.2	10.9	14.3	10.5	4.5	-6.7	17.2	21.4	3.7	19.2

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	3%	13%	4%	8%
Operating Profit CAGR	-6%	20%	9%	7%
PAT CAGR	-38%	0%	13%	-25%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	269%	77%	54%	21%
ROE Average	4%	5%	3%	12%
ROCE Average	5%	5%	4%	15%

Swelect Energy Balance Sheet

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Shareholder's Funds	665	678	678	682	700	715	726	719	743	776	787
Minority's Interest	-2	-2	0	0	0	0	0	0	6	11	16
Borrowings	5	75	99	51	35	32	29	39	149	185	232
Other Non-Current Liabilities	16	18	20	3	6	7	7	13	12	8	8
Total Current Liabilities	120	109	104	134	160	238	232	272	281	421	441
Total Liabilities	805	879	901	871	901	991	994	1044	1192	1401	1485
Fixed Assets	184	267	290	301	295	349	407	420	440	543	629
Other Non-Current Assets	54	95	54	55	52	72	79	116	175	149	139
Total Current Assets	567	517	557	515	554	570	508	508	577	708	718
Total Assets	805	879	901	871	901	991	994	1044	1192	1401	1485

Swelect Energy Cash Flow

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Opening Cash & Cash Equivalents	16	38	58	60	77	72	25	-78	-84	-99	25
Cash Flow from Operating Activities	-36	-44	-5	3	29	3	69	28	33	97	131
Cash Flow from Investing Activities	174	12	45	39	21	-101	-120	-30	-142	-73	-284
Cash Flow from Financing Activities	-118	44	15	-28	-52	49	-53	-4	94	99	11
Net Cash Inflow / Outflow	21	12	55	14	-2	-50	-103	-6	-15	124	-142
Closing Cash & Cash Equivalent	38	58	116	77	72	25	-78	-84	-99	25	-117

Swelect Energy Ratios

#	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Earnings Per Share (Rs)	343.61	10.67	-0.25	10.92	14.27	10.48	4.5	-6.71	17.21	21.38	3.66
CEPS(Rs)	348.49	17.49	11	22.16	26.37	25.84	21.65	12.99	35.74	49.96	41.68
DPS(Rs)	128	9	2.5	4	4	4	2.5	2	3	3	1.2
Book NAV/Share(Rs)	436.08	444.82	444.58	447.27	459.32	468.97	476.42	472.13	487.43	509.23	516.9
Core EBITDA Margin(%)	1.06	3.37	3.26	8.24	9.28	11.35	10.17	10.99	19.98	22.82	19.66
EBIT Margin(%)	357.94	12.57	6.7	13.46	16.39	12.72	11.33	4.06	17.93	20.9	17.17
Pre Tax Margin(%)	355.78	10.1	1	9.2	12.51	9.25	4.59	-2.78	10.89	14.47	8.5
PAT Margin (%)	278.75	9.02	-0.11	5.87	8.76	5.36	3	-4.03	10.31	13.6	8.12
Cash Profit Margin (%)	282.73	14.48	7.33	11.92	16.19	13.22	14.42	7.8	21.45	21.38	17.26
ROA(%)	84.68	1.96	-0.03	1.87	2.44	1.68	0.69	-1	2.33	3.72	2.06
ROE(%)	109.73	2.47	-0.04	2.45	3.15	2.26	0.95	-1.41	3.58	6.38	3.82
ROCE(%)	128.48	3.1	1.91	4.66	4.99	4.36	2.81	1.1	4.46	6.38	4.91
Receivable days	152.99	75.3	79	81.32	105.27	80.32	78.72	67.92	87.28	78.82	76.4
Inventory Days	138.87	65.81	57.17	49.6	78.17	81.69	101.23	92.66	99.26	117.62	148.96
Payable days	141.07	132.71	107.27	87.38	144.88	121.56	175.5	156.23	174.46	198.8	206.95
PER(x)	0.26	13.9	0	23.01	15.97	22.61	35.53	0	11.69	17.74	78
Price/Book(x)	0.21	0.33	0.8	0.56	0.5	0.51	0.34	0.18	0.41	0.74	0.55
Dividend Yield(%)	94.78	4.04	0.47	1.06	1.17	1.13	1.04	2.41	1.49	0.79	0.42
EV/Net Sales(x)	-0.11	1.1	2.51	1.35	1.25	1.41	1.35	0.9	2.55	2.61	2.65
EV/Core EBITDA(x)	-0.42	5.89	16.3	6.79	5.13	6.8	5.97	4.12	8.01	9.09	10.07
Net Sales Growth(%)	-70.59	-0.01	25.73	24.5	-12.63	22.04	-22.69	10.79	0.13	40.28	3.31
EBIT Growth(%)	1234.79	-96.56	-33.8	148.96	6.65	-6.89	-31.57	-60.29	342.21	63.53	-15.1
PAT Growth(%)	1389.39	-96.83	-101.56	6533.61	30.66	-26.54	-57.02	-248.91	356.04	85.02	-38.29
EPS Growth(%)	1397.7	-96.89	-102.32	4511.83	30.66	-26.54	-57.03	-248.92	356.48	24.24	-82.89
Debt/Equity(x)	0.07	0.15	0.21	0.19	0.16	0.29	0.27	0.31	0.48	0.59	0.7
Current Ratio(x)	4.72	4.75	5.37	3.83	3.46	2.39	2.19	1.87	2.05	1.68	1.63
Quick Ratio(x)	4.47	4.41	5.03	3.52	3.06	2.1	1.95	1.61	1.81	1.3	1.32
Interest Cover(x)	166.36	5.09	1.18	3.16	4.22	3.67	1.68	0.59	2.55	3.25	1.98
Total Debt/Mcap(x)	0.34	0.45	0.27	0.35	0.33	0.57	0.81	1.77	1.16	0.79	1.27

Swelect Energy Shareholding Pattern

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	56.37	56.37	56.37	56.37	56.37	56.37	56.37	56.37	56.37	56.37
FII	0.02	0.06	0.08	0.01	0.07	0	0.03	0.06	0.04	0.06
DII	0	0	0	0	0	0	0	0.41	0	0.47
Public	43.61	43.57	43.56	43.62	43.56	43.63	43.6	43.17	43.6	43.1
Others	0	0	0	0	0	0	0	0	0	0
Total	100	100	100	100	100	100	100	100	100	100

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	0.85	0.85	0.85	0.85	0.85	0.85	0.85	0.85	0.85	0.85
FII	0	0	0	0	0	0	0	0	0	0
DII	0	0	0	0	0	0	0	0.01	0	0.01
Public	0.66	0.66	0.66	0.66	0.66	0.66	0.66	0.65	0.66	0.65
Others	0	0	0	0	0	0	0	0	0	0
Total	1.52	1.52	1.52	1.52	1.52	1.52	1.52	1.52	1.52	1.52

Pros

Cons

Company has a low return on equity of 5% over the last 3 years.
Debtor days have increased from 198.8 to 206.95days.

* 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.