Swelect Energy Systems Ltd
NSE: SWELECTES BSE: 532051Energy
Incorporated in 1994, Swelect Energy Systems Ltd is in the business of Solar and Solar Related Activities[1]
₹628
52W: ₹480 — ₹979
PE 76.9 · Book ₹525 · +20% vs bookMarket Cap₹952 Cr
Stock P/E76.9Price to Earnings
ROCE3.95%Return on Capital
ROE0.34%Return on Equity
Div. Yield0.47%Face Value ₹10
Strengths
- +Stock is trading at 1.17 times its book value
- +Company has been maintaining a healthy dividend payout of 28.1%
Weaknesses
- −Company has low interest coverage ratio.
- −Company has a low return on equity of 1.65% over last 3 years.
- −Earnings include an other income of Rs.43.6 Cr.
Shareholding Pattern
Promoters56.36%
FIIs0.23%
DIIs0%
Public43.4%
| Category | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters | 56.36% | 56.36% | 56.36% | 56.36% | 56.36% | 56.36% | 56.36% | 56.36% |
| FIIs | 0.12% | 0.07%▼0.0 | 0.09%▲0.0 | 0.06%▼0.0 | 0.05%▼0.0 | 0.04%▼0.0 | 0.22%▲0.2 | 0.23%▲0.0 |
| DIIs | 0.2% | 0%▼0.2 | 0% | 0.04%▲0.0 | 0.04% | 0%▼0.0 | 0% | 0% |
| Public | 43.32% | 43.57%▲0.3 | 43.54%▼0.0 | 43.53%▼0.0 | 43.54%▲0.0 | 43.6%▲0.1 | 43.41%▼0.2 | 43.4%▼0.0 |
Financial Statements
| Metric | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 19.73 | 114.93 | 44.44 | 66.38 | 145.92 | 108.48 | 110.56 | 65.64 | 94.55 | 66.96 |
| Expenses | 15 | 99.89 | 37.69 | 59.77 | 134.7 | 96.57 | 107.23 | 59.77 | 82.89 | 59.03 |
| Operating Profit | 4.73 | 15.04 | 6.75 | 6.61 | 11.22 | 11.91 | 3.33 | 5.87 | 11.66 | 7.93 |
| OPM % | 23.97% | 13.09% | 15.19% | 9.96% | 7.69% | 10.98% | 3.01% | 8.94% | 12.33% | 11.84% |
| Net Profit | 2.33 | 12.34 | 22.59 | 7.43 | 4.55 | -2.99 | -0.41 | 4.04 | 6.19 | 1.64 |
| EPS ₹ | 1.54 | 8.14 | 14.9 | 4.9 | 3 | -1.97 | -0.27 | 2.67 | 4.08 | 1.08 |
AI Insights
Revenue Trend
TTM revenue at ₹338Cr, down 21.6% YoY. OPM at 9%.
Debt Position
Borrowings at ₹337Cr. Debt-to-equity ratio: 0.43x. Healthy balance sheet.
Capex Cycle
CWIP at ₹47Cr (17% of fixed assets). Moderate ongoing capital expenditure.
Institutional Flow
DIIs: 0% (+0.00pp change). FIIs: 0.23% (+0.20pp change). Promoters hold 56.36%.
Margin & Efficiency
ROCE improving from 2% (Mar 2014) to 4% (Mar 2025). Working capital days: 59.
Valuation
PE 76.9x with 3.95% ROCE. Price is 20% above book value of ₹525. Dividend yield: 0.47%.
Recent Announcements
- Announcement under Regulation 30 (LODR)-Change in Management 2d - Mr. V. Venkatesh, Vice President–Operations & Special Projects, retired early effective May 15, 2026.
- Board Meeting Intimation for Considering And Approving The Standalone And Consolidated Financial Results For The Quarter (Unaudited) And Year (Audited) Ended 31 March 2026, Recommend Final Dividend, If Any, For FY 2025-26, And Transact Other Business. 2d - Board meets May 21, 2026 to approve Q4 and FY26 results and consider final dividend.
- Announcement Under Regulation 30 Of SEBI (LODR) -Commissioning Of 5 MW Solar Power Plant By SWELECT Energy Systems Limited. 2 May - 5 MW solar plant commissioned on 2 May 2026; 10 MW AAI project now completed.
- Announcement under Regulation 30 (LODR)-Credit Rating 1 May - CRISIL reaffirmed ratings for ₹345 crore loans and ₹138.5 crore NCDs.
- Announcement under Regulation 30 (LODR)-Newspaper Publication 17 Apr - SWELECT Energy Systems Limited has informed about Copy of Newspaper Publication regarding Special Window for Transfer and Dematerialization of Physical Securities
- Financial Year 2025 from bse
- Financial Year 2024 from bse
- Financial Year 2023 from bse