Swelect Energy Systems Limited SWELECTES NSETECH

Technology · Solar · India

https://www.swelectes.com

Swelect Energy Systems Limited engages in the manufacture and trading of solar mounting structures, solar photovoltaic inverters**and other ancillary products in India. The company offers photovoltaic modules, including mono PERC, TOPCon, monofacial, bifacial, domestic content requirements, and non-DCR; module mounting structures (MMS), such as ground mount, rooftop, and solar water pumps; energy storage systems, including solar energy storage systems, and solar-wind hybrid energy storage systems. It also provides electrical BoS, such as string combiner boxes (SCBs), DCDBs, AJBs, and ACDBs; and auxiliary transformers, including servo stabilisers. In addition, the company distributes solar power products, such as solar modules and MMS plus BOS accessories. Further, the company engages in solar and wind power generation, and provision of contract manufacturing and installation and maintenance services. It serves homes/SME'S, EPC, O&M services, and independent power producer markets. The company was formerly known as Numeric Power Systems Limited and changed its name to Swelect Energy Systems Limited in May 2012. Swelect Energy Systems Limited was incorporated in 1994 and is based in Chennai, India.

Market & Price

Market Cap

₹1,027.49 Cr

Current Price

₹661.35

High / Low (52W)

₹934.25 / ₹496.45

Beta

0.68

Valuation

Stock P/E

18.18

Industry PE

25.13

Forward P/E

PEG Ratio

Book Value

₹615.35

Price to Book

1.07

P/S

1.56

EV/EBITDA

8.33

Dividend Yield

0.53%

Profitability & Returns

ROCE

8.72%

ROE

6.29%

ROA

3.35%

Profit Margin

8.40%

Op Margin

11.25%

EPS (Latest Qtr)

₹6.72

EPS (TTM)

₹36.37

Balance Sheet & Liquidity

Debt/Equity

0.84

Quick Ratio

0.96

Current Ratio

1.49

Debt

₹797.58 Cr

Total Assets

₹2,082.81 Cr

Current Assets

₹975.14 Cr

Working Capital

₹318.55 Cr

Ownership

Promoter Holding

62.43%

Chg in Prom Hold

FII / Inst Holding

0.05%

Chg in FII Hold

Financial Snapshot

Enterprise Value

₹1,261.30 Cr

Total Revenue (TTM)

₹657.12 Cr

EBITDA

₹151.41 Cr

Free Cash Flow

₹290.89 Cr

Operating Cash Flow

₹95.49 Cr

Shares Outstanding

₹1.52 Cr

Gross Margin

46.36%

Payout Ratio

8.25%

Growth (CAGR)

Revenue 5Y

40.63%

Profit 5Y

115.09%

Revenue (YoY)

-7.50%

Earnings (YoY)

13.30%

PROS

Compounding revenue at 40.6% over 5 years.
Profit CAGR of 115.1% over 5 years.
Generates positive free cash flow.

CONS

Trading 29.2% below its 52-week high.
In a downtrend (50-DMA below 200-DMA).

* The pros and cons are auto-generated from financial metrics.

Price Chart

NSE TradingView Screener.in

Fundamental Growth

Period: Metric:

Figures from the latest reported periods. CAGR is computed across the displayed window (quarterly CAGR is annualised assuming 4 quarters per year).

Peer comparison

Peer companies in the same sector (Technology).

#	Name	CMP ₹	P/E	Mkt Cap	Div Yld %	ROCE %	ROE %	Rev CAGR 5Y %	Profit CAGR 5Y %
1	SWELECTES Swelect Energy Systems Limited NSETECH	661.35	18.18	₹1,027.49 Cr	0.53%	8.72%	6.29%	40.63%	115.09%
2	TCS Tata Consultancy Services Limited NIFTY50NSEAITECH	2,258.90	16.61	₹8.17 L Cr	5.49%	54.93%	48.40%	5.80%	5.30%
3	INFY Infosys Limited NIFTY50NSEAITECH	1,160.90	15.01	₹4.70 L Cr	4.31%	41.66%	31.44%	3.44%	3.58%
4	HCLTECH HCL Technologies Limited NIFTY50NSEAITECH	1,183.80	19.31	₹3.20 L Cr	8.11%	27.21%	23.36%	8.65%	3.87%
5	WIPRO Wipro Limited NIFTY50NSEAITECH	204.25	16.26	₹2.14 L Cr	8.32%	18.42%	15.49%	4.05%	2.44%
6	TECHM Tech Mahindra Limited NIFTY50NSEAITECH	1,483.90	27.40	₹1.31 L Cr	3.44%	20.60%	16.61%	2.16%	-0.14%
7	LTM LTM Limited NSETECH	4,061.60	24.04	₹1.20 L Cr	1.85%	25.39%	21.29%	8.43%	4.41%
8	LGEINDIA LG ELECTRONICS INDIA LTD NIFTY_MIDNSETECH	1,523.90	61.35	₹1.03 L Cr	-	27.64%	24.72%	0.98%	-
9	WAAREEENER WAAREE ENERGIES LIMITED NIFTY_MIDNSETECH	3,140.80	27.70	₹90,345.53 Cr	0.13%	24.21%	31.57%	71.63%	191.18%

Quarterly Results

Figures in INR.

Metric	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
Revenue	-	-	218.81 Cr	177.22 Cr	138.86 Cr	138.63 Cr	202.42 Cr
Cost of Revenue	-	-	156.23 Cr	106.65 Cr	70.64 Cr	83.11 Cr	125.99 Cr
Gross Profit	-	-	62.58 Cr	70.57 Cr	68.21 Cr	55.51 Cr	76.43 Cr
Operating Expenses	-	-	49.59 Cr	40.41 Cr	40.24 Cr	33.75 Cr	53.66 Cr
Operating Income	-	-	12.99 Cr	30.16 Cr	27.98 Cr	21.76 Cr	22.77 Cr
EBITDA	-	-	42.67 Cr	53.34 Cr	49.27 Cr	40.17 Cr	42.77 Cr
Interest Expense	-	-	11.27 Cr	13.93 Cr	15.57 Cr	14.50 Cr	17.22 Cr
Pretax Income	-	-	15.74 Cr	27.85 Cr	20.91 Cr	14.01 Cr	12.80 Cr
Tax Provision	-	-	6.76 Cr	6.71 Cr	5.07 Cr	4.49 Cr	1.71 Cr
Net Income	-	-	8.85 Cr	20.54 Cr	15.17 Cr	9.26 Cr	10.20 Cr
Diluted EPS	-	-	5.31	13.95	10.45	6.11	6.72

Profit & Loss (Annual)

Figures in INR.

Metric	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Revenue	-	236.29 Cr	236.54 Cr	621.67 Cr	657.12 Cr
Cost of Revenue	-	121.88 Cr	83.10 Cr	435.88 Cr	394.34 Cr
Gross Profit	-	114.40 Cr	153.44 Cr	185.79 Cr	262.78 Cr
Operating Expenses	-	77.64 Cr	110.52 Cr	145.93 Cr	172.59 Cr
Operating Income	-	36.76 Cr	42.93 Cr	39.86 Cr	90.19 Cr
EBITDA	-	101.62 Cr	150.88 Cr	143.79 Cr	185.55 Cr
Interest Expense	-	28.41 Cr	48.81 Cr	43.17 Cr	48.76 Cr
Pretax Income	-	29.91 Cr	60.23 Cr	43.60 Cr	75.57 Cr
Tax Provision	-	1.38 Cr	6.72 Cr	29.62 Cr	17.98 Cr
Net Income	-	5.54 Cr	61.97 Cr	12.60 Cr	55.17 Cr
Diluted EPS	-	4.23	41.59	8.31	36.36

Compounded Sales Growth

5 Years:	40.63%
1 Year:	-7.50%

Compounded Profit Growth

5 Years:	115.09%
1 Year:	13.30%

Stock Price Performance

1 Year:	+20.86%
6 Months:	-9.11%
3 Months:	+20.59%
1 Month:	-1.86%

Balance Sheet (Annual)

Figures in INR.

Metric	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Total Assets	-	1,487.04 Cr	1,661.68 Cr	1,749.56 Cr	2,082.81 Cr
Current Assets	-	737.41 Cr	881.79 Cr	865.01 Cr	975.14 Cr
Cash & Equivalents	-	11.51 Cr	15.28 Cr	25.96 Cr	36.46 Cr
Inventory	-	136.95 Cr	229.84 Cr	172.17 Cr	173.19 Cr
Receivables	-	66.97 Cr	52.11 Cr	64.89 Cr	60.96 Cr
Total Liabilities	-	683.36 Cr	805.04 Cr	872.47 Cr	1,128.45 Cr
Current Liabilities	-	441.05 Cr	555.72 Cr	510.47 Cr	656.60 Cr
Long Term Debt	-	232.25 Cr	224.28 Cr	315.43 Cr	380.04 Cr
Total Debt	-	550.17 Cr	569.00 Cr	627.67 Cr	797.58 Cr
Total Equity	-	787.23 Cr	837.97 Cr	856.68 Cr	921.14 Cr
Shares Outstanding	-	1.52 Cr	1.52 Cr	1.52 Cr	1.52 Cr

Cash Flows (Annual)

Figures in INR.

Metric	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Operating Cash Flow	-	131.47 Cr	89.54 Cr	130.09 Cr	95.49 Cr
Investing Cash Flow	-	-284.13 Cr	-83.45 Cr	-112.85 Cr	-198.24 Cr
Financing Cash Flow	-	10.80 Cr	33.57 Cr	19.44 Cr	50.30 Cr
Capital Expenditure	-	-151.34 Cr	-127.86 Cr	-137.57 Cr	-241.89 Cr
Free Cash Flow	-	-19.87 Cr	-38.32 Cr	-7.48 Cr	-146.40 Cr
Net Change in Cash	-	-141.86 Cr	39.65 Cr	36.68 Cr	-52.45 Cr

Ratios (Annual)

Figures in %.

Metric	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Gross Margin %	-	48.4%	64.9%	29.9%	40.0%
Operating Margin %	-	15.6%	18.1%	6.4%	13.7%
Net Margin %	-	2.3%	26.2%	2.0%	8.4%
ROE %	-	0.7%	7.4%	1.5%	6.0%
ROCE %	-	3.5%	3.9%	3.2%	6.3%

Shareholding Pattern

Insiders

62.43%

Institutions

0.05%

Public Float

0.12%

Analyst View

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SWELECTES · Technology