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Swelect Energy Systems Limited

Swelect Energy Systems Limited

SWELECTES.BO
Swelect Energy Systems LimitedIN flagBombay Stock Exchange
633.85
INR
-9.80
- -
9.60BMarket Cap
Swelect Energy Systems Limited
SWELECTES.BO
(Bombay Stock Exchange)

Recent

price

633.85

P/E

ratio

- -

div

yld

- -

ROIC.AI

2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
TTM
FRC
336.59
395.83
116.41
116.4
146.35
182.2
156.22
189.29
145.21
160.84
160.85
227.11
155.87
156.04
410.09
433.54
441.37
Revenue per Share
27.02
22.94
341.55
10.63
-0.25
10.92
14.27
10.48
4.5
-6.71
17.21
21.38
3.66
40.88
8.31
36.4
37.06
Basic EPS, GAAP
10.51
28.69
-23.42
-29.01
-3.14
2.31
18.9
1.84
45.61
18.74
-54.29
6.69
-13.11
-25.28
-4.93
-96.59
- -
Free Cash Flow per Basic Share
2.01
2.32
82
5.33
6
3.67
0.67
2.67
2.67
2.92
0.75
3
3
1.2
4
3
- -
Dividend per Share
6.67
6.67
314.68
315.82
312.42
315.64
322.85
332.33
333.64
324.85
313.06
331.67
332.49
370.92
375.22
10
10.18
Book Value per Share
168.2
188.66
414.29
422.12
416.9
389.82
402.58
367.06
377.23
377.12
402.07
431.15
447.21
484.6
502.31
559.04
569.13
Tangible Book Value per Share
15
15
15
15
15
15
15
15
15
15
15
15
15
15
15
15
15
Basic Weighted Avg Shares
5,102
6,000
1,765
1,764
2,218
2,762
2,368
2,869
2,201
2,438
2,438
3,443
2,363
2,365
6,217
6,571
6,571
Sales/Revenue/Turnover
10.13
8.32
-1.01
-1.91
-0.53
3.05
1.3
3.66
0.86
3.77
8.82
15.97
15.56
18.15
6.41
13.73
15.62
Operating Margin (%)
51
66
74
100
169
170
195
233
260
299
281
309
433
418
432
488
488
Depreciation Expense
410
348
5,178
162
-4
166
216
159
68
-102
261
324
55
620
126
552
552
Net Income, GAAP
20.79
22.67
21.65
10.75
117.31
36.18
29.94
42.02
34.67
- -
5.36
6.03
4.62
11.15
67.94
23.8
23.8
Effective Tax Rate (%)
8.03
5.8
293.4
9.17
-0.17
5.99
9.13
5.54
3.1
-4.17
10.7
9.41
2.35
26.2
2.03
8.4
8.4
Profit Margin (%)
1,706
1,563
4,465
4,081
4,685
3,806
3,941
3,317
2,765
2,357
2,952
2,879
2,964
3,261
3,545
3,185
3,185
Working Capital
56
74
47
753
954
515
347
317
288
426
1,513
1,854
2,334
2,257
3,170
3,835
3,835
LT Debt
2,564
2,932
6,635
6,760
6,675
6,820
7,002
7,148
7,260
7,195
7,491
7,868
8,037
8,566
8,771
9,544
9,544
Total Equity
16.3
12.91
-0.27
-0.4
0.03
0.68
0.27
0.7
0.14
- -
1.99
4.42
2.71
2.76
0.87
4.22
4.81
Return on Invested Capital (%)
174.19
108.87
180.3
3.45
-0.42
3.92
4.6
3.17
2.31
- -
5.35
5.98
3.11
9.39
2.12
8.72
9.64
Return on Capital (%)
405.23
344.14
212.58
3.37
-0.08
3.48
4.47
3.2
1.35
-2.04
5.39
6.63
1.1
11.62
2.23
18.9
18.9
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Sep'26
Dec'26
Mar'26
ST Debt
3,644
- -
4,140
LT Borrowings
2,974
- -
3,800
LT Finance Leases
39
- -
35
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
15
- -
15
Market Capitalization
13,349
9,460
7,444

Working Capital

FRC

•

in mil. unless spec.
Sep'26
Dec'26
Mar'26
Total Current Assets
8,791
- -
9,751
Cash, Cash Equivalents & STI
5,932
- -
5,720
Accounts Receivable, Net
669
- -
610
Inventories
1,741
- -
1,732
Total Current Liabilities
5,013
- -
6,566
Payables & Accruals
- -
- -
- -
ST Debt
3,644
- -
4,140
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
3.45%
4.99%
8.81%
Free Cash Flow
402.17%
292.48%
1,858.35%
Net Income, GAAP
55.89%
243.45%
337.96%
Sales/Revenue/Turnover
17.28%
35.69%
5.7%
Total Cash Common Dividend
60.16%
89.67%
-25%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
554
483
635
693
2,365
2025
1,138
1,976
914
2,188
6,217
2026
1,772
1,389
1,386
2,024
6,571

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
7.2
4.48
5.42
- -
40.88
2025
4.35
5.93
-7.1
5.31
8.31
2026
13.95
10.45
6.11
6.73
36.4

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
1.2
2025
- -
- -
- -
- -
4
2026
- -
- -
- -
- -
3
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Business
Swelect Energy Systems Limited, formerly Numeric Power Systems Limited and founded in 1986, is an India-based company headquartered in Chennai, Tamil Nadu, that manufactures and trades solar power systems, off-grid solar photovoltaic modules based on crystalline silicon technology, solar and wind power generation equipment, and energy-efficient lighting systems; its core products include BIS/IEC/UL/CSA/ALMM-certified high-efficiency mono PERC and TOPCon bifacial PV modules from 365 Wp to 630 Wp produced at its 1 GW+ capacity facility in Coimbatore through subsidiary Swelect HHV Solar Photovoltaics Private Limited, module mounting structures (MMS) with 0.5 GW+ annual capacity at its Salem facility, solar power conditioning units (PCUs), grid-tie/hybrid/bi-directional inverters and MPPT charge controllers, servo stabilizers, energy storage systems, and complete electrical balance of systems (BOS) such as array junction boxes, DC/AC distribution boards, cables, and decoupling circuits. The company provides turnkey engineering, procurement, and construction (EPC) services for rooftop, ground-mounted, and utility-scale solar projects up to MW scale; operation and maintenance services; solar power generation system (SPGS) kits; solar water pumping solutions; energy audits; and independent power production through power purchase agreements with government bodies and captive sales to commercial, industrial, financial, telecom, and institutional customers. Swelect operates manufacturing plants in Coimbatore and Salem, Tamil Nadu, with over 570 MW of commissioned solar projects across more than 10,000 installations in India and global presence in the USA, Canada, UK, Japan, Australia, and Singapore via subsidiaries including Swelect Energy Systems Pte. Limited in Singapore and Swelect Inc. in the USA. Recent developments include securing orders for over 150 MW of TOPCon bifacial solar modules in March 2025 and raising Rs 290 crore through non-convertible debentures with India Infradebt Ltd to expand its independent power producer portfolio to 1 GW by 2026-27; in December 2024, the board approved Rs 138.5 crore fundraising via secured non-convertible debentures, conversion of a Rs 40 crore loan to preference shares in subsidiary Swelect HHV Solar Photovoltaics Private Limited, and formation of four new wholly-owned subsidiaries focused on solar power generation.