SWELECTES

Swelect Energy Systems Limited

Swelect Energy Systems Limited (SWELECTES) financial statements and selected valuation metrics through 30 June 2026.

Industrials›Capital Goods›Electrical Equipment›Heavy Electrical Equipment

swelectes.com(opens the company website in a new tab)
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Key metrics

Price as of 2026-10-16

Stock price
₹631.55
Market cap
958 Cr
Stock P/E
23.0
P/B
1.04
Dividend yield
0.5%
ROE (FY26)
5.8%
ROCE (FY26)
7.8%
Operating margin (FY26)
15.6%
Debt / equity (FY26)
0.87
OCF / EBITDA (FY26)
63.1%
OCF / EBITDA (3Y)
94.8%

Full years shown; sign in free for the trailing twelve months. Learn about these metrics →

Price & valuation

Share price and valuation multiples (P/E, P/B and more) over time.

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Compare with peers

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What you need to know

SWELECT (Swelect Energy Systems) is a Chennai-based solar power company that makes solar modules and hybrid inverters, executes solar projects for commercial and industrial customers, and builds and owns solar power plants that sell electricity.

Company snapshot

33rdBy market cap

Ranked among 38 companies in Heavy Electrical Equipment.

Segment mix

Reportable segments as of 2024-03-31 (Consolidated). Revenue share = segment revenue ÷ total revenue.

Largest segment: 100.0% of revenue

SegmentRevenue shareRevenuePBTAssets
Solar Energy Systems / Services
100.0%
243 Cr37 Cr—

What we see

Positives
  • ✓95% of operating profit came in as cash over the last three years — profits are backed by real cash.

Statement tables · Consolidated

Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.

Amounts in ₹ Cr · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

MetricSept 2023Dec 2023Mar 2024Jun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026
Sales84 Cr64 Cr76 Cr114 Cr198 Cr91 Cr219 Cr177 Cr139 Cr139 Cr202 Cr131 Cr
Operating expenses (approx.)60 Cr40 Cr52 Cr93 Cr169 Cr73 Cr190 Cr136 Cr98 Cr105 Cr167 Cr102 Cr
EBITDA24 Cr23 Cr24 Cr21 Cr29 Cr18 Cr29 Cr42 Cr41 Cr33 Cr36 Cr28 Cr
OPM %28.3%36.9%31.6%18.4%14.6%20.1%13.1%23.5%29.4%24.1%17.5%21.7%
Other income7 Cr8 Cr9 Cr12 Cr12 Cr9 Cr14 Cr12 Cr9 Cr9 Cr7 Cr10 Cr
Interest12 Cr12 Cr17 Cr14 Cr15 Cr13 Cr16 Cr14 Cr16 Cr14 Cr17 Cr15 Cr
Depreciation11 Cr10 Cr12 Cr10 Cr10 Cr11 Cr11 Cr12 Cr13 Cr12 Cr13 Cr13 Cr
Profit before tax8 Cr8 Cr40 Cr9 Cr16 Cr3 Cr16 Cr28 Cr21 Cr14 Cr13 Cr10 Cr
Tax %9.7%2.1%9.1%27.7%42.9%452.2%42.9%24.1%24.3%32.0%13.4%26.4%
Net profit7 Cr8 Cr36 Cr7 Cr9 Cr-11 Cr9 Cr21 Cr16 Cr10 Cr11 Cr8 Cr
EPS (₹)₹4.82₹5.42₹23.77₹4.35₹5.93₹-6.98₹5.92₹13.95₹10.45₹6.11₹6.73₹4.66

Profit & loss (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales247 Cr296 Cr228 Cr252 Cr253 Cr391 Cr366 Cr243 Cr622 Cr657 CrSign in free for the trailing twelve months
Operating expenses (approx.)223 Cr263 Cr202 Cr224 Cr202 Cr321 Cr294 Cr159 Cr525 Cr506 CrSign in free for the trailing twelve months
EBITDA24 Cr34 Cr25 Cr28 Cr50 Cr71 Cr72 Cr84 Cr97 Cr151 CrSign in free for the trailing twelve months
OPM %9.7%11.3%11.1%11.0%20.0%18.0%19.7%34.6%15.6%23.0%Sign in free for the trailing twelve months
Other income36 Cr27 Cr26 Cr28 Cr30 Cr21 Cr24 Cr37 Cr47 Cr36 CrSign in free for the trailing twelve months
Interest10 Cr10 Cr15 Cr17 Cr18 Cr25 Cr32 Cr51 Cr57 Cr61 CrSign in free for the trailing twelve months
Depreciation19 Cr23 Cr26 Cr30 Cr28 Cr31 Cr33 Cr42 Cr43 Cr49 CrSign in free for the trailing twelve months
Profit before tax31 Cr27 Cr10 Cr-7 Cr28 Cr36 Cr8 Cr70 Cr44 Cr76 CrSign in free for the trailing twelve months
Tax %29.9%42.0%34.7%-44.8%5.4%8.7%17.7%9.6%67.9%23.8%Sign in free for the trailing twelve months
Net profit22 Cr16 Cr7 Cr-10 Cr26 Cr32 Cr6 Cr63 Cr14 Cr58 CrSign in free for the trailing twelve months
EPS (₹)₹21.40₹15.72₹6.76₹-6.71₹17.18₹21.39₹4.23₹41.62₹9.22₹36.40Sign in free for the trailing twelve months
Dividend payout %————4.1%14.0%70.8%2.9%43.4%7.9%Sign in free for the trailing twelve months
Sign in free for the trailing twelve months

The latest four quarters added up, next to each full year

Balance sheet

Annual · ₹ Cr · tap + rows to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity capital10 Cr10 Cr10 Cr15 Cr15 Cr15 Cr15 Cr15 Cr15 Cr15 Cr
Reserves690 Cr705 Cr716 Cr704 Cr727 Cr760 Cr772 Cr824 Cr842 Cr906 Cr
Borrowings98 Cr190 Cr195 Cr214 Cr336 Cr459 Cr550 Cr569 Cr628 Cr798 Cr
Other liabilities103 Cr88 Cr75 Cr114 Cr110 Cr157 Cr133 Cr235 Cr245 Cr331 Cr
Total liabilities901 Cr994 Cr996 Cr1,047 Cr1,194 Cr1,403 Cr1,487 Cr1,662 Cr1,750 Cr2,083 Cr
Fixed assets (net)205 Cr191 Cr253 Cr268 Cr300 Cr408 Cr503 Cr563 Cr669 Cr706 Cr
CWIP3 Cr12 Cr13 Cr11 Cr72 Cr25 Cr32 Cr7 Cr7 Cr162 Cr
Investments257 Cr272 Cr278 Cr263 Cr300 Cr316 Cr322 Cr306 Cr297 Cr305 Cr
Loans & advances——4 Cr4 Cr4 Cr2 Cr2 Cr9 Cr0.03 Cr6 Cr
Inventories64 Cr69 Cr57 Cr71 Cr67 Cr162 Cr137 Cr230 Cr172 Cr173 Cr
Trade receivables72 Cr58 Cr40 Cr54 Cr67 Cr86 Cr67 Cr52 Cr65 Cr61 Cr
Cash & bank105 Cr88 Cr9 Cr12 Cr12 Cr107 Cr12 Cr15 Cr26 Cr36 Cr
Other assets196 Cr303 Cr342 Cr364 Cr373 Cr297 Cr413 Cr480 Cr514 Cr633 Cr
Total assets901 Cr994 Cr996 Cr1,047 Cr1,194 Cr1,403 Cr1,487 Cr1,662 Cr1,750 Cr2,083 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from operating activity29 Cr3 Cr69 Cr28 Cr33 Cr106 Cr131 Cr90 Cr130 Cr95 Cr
Cash from investing21 Cr-101 Cr-120 Cr-30 Cr-142 Cr91 Cr-284 Cr-82 Cr-113 Cr-198 Cr
Cash from financing-52 Cr49 Cr-53 Cr-4 Cr94 Cr99 Cr11 Cr32 Cr19 Cr50 Cr
Net cash flow-5 Cr-50 Cr-103 Cr-6 Cr-15 Cr297 Cr-142 Cr40 Cr37 Cr-52 Cr
Free cash flow (OCF − Capex)16 Cr-97 Cr0.82 Cr-19 Cr-82 Cr106 Cr-20 Cr-38 Cr-7 Cr-146 Cr

Ratios

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %5.1%4.2%2.8%1.1%4.2%4.8%2.9%8.5%6.7%7.8%
ROE %3.1%2.2%0.9%-1.4%3.5%4.1%0.7%7.2%1.4%5.8%
Debtor days106726478968067783834
Inventory days736126672196267326689608224146
Days payable82397607149226261409242147122
Cash conversion cycle1910012912513714534644511557
OCF / EBITDA %119.3%8.3%274.0%102.5%65.9%151.0%182.7%106.6%134.3%63.1%
OCF / EBITDA % (3 years)——121.4%115.9%126.5%113.0%140.6%144.6%138.9%94.8%
Debt / equity0.140.270.270.300.450.590.700.680.730.87
Current ratio3.462.392.191.872.041.681.631.591.691.49
Net debt / EBITDA-0.27—7.397.276.414.997.496.596.215.03