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Prices as of 9 Oct 2026 close · Not investment advice

Swelect Energy Systems Limited

NSE: SWELECTESHeavy Electrical Equipment

Share price

₹618.05

+6.27% close of 9 Oct 2026

Market cap ₹927 CrP/E 22.1

Price-based ratios (P/B, dividend yield, EV/EBITDA) are as of 8 Oct 2026, the close above is 9 Oct 2026.

Business score

How strong the business is, in one number. The parts behind it are in Pro.

57

out of 100 · worked out 9 Oct 2026

How the business score works

Your ratios

The numbers you want to see first. Tap Edit to change them.

Market cap

₹927 Cr

P/E ratio

22.1

P/B ratio

1.0

ROCE

8.0%

ROE

5.4%

Dividend yield

0.6%

Price & valuation chart

How the share price and its valuation have moved. Hover over the chart to see any day. Prices as of the last close.

Prices as of 9 Oct 2026 close52-week high ₹934.2552-week low ₹496.45

Answers

Simple answers to the questions investors ask most, from the company's own numbers.

How fast it has been growing

Our sales figures for this company step down at Dec 2022 and we hold nothing that says why, so we cannot honestly quote a growth rate across it.

Whether it grew faster than its sector

Our sales figures for this company step down at Dec 2022 and we hold nothing that says why, so there is no honest growth rate of its own to set against its sector.

Room to re-rate, or risk of de-rating

At 22.1× earnings against a market that pays 24.1× across 2199 companies we can price. Its own industry sits at 89.8×, across 5 companies. It is against its own five-year median of 20.8×, the 53rd percentile of its own range.

Whether growth justifies the valuation

Priced at 0.1 times its growth rate, on earnings growth of 206%.

Profit growthPrice per ₹1 profitPer 1% growth
Swelect Energy Systems Limited — this one206%/yr22.1×—
Suzlon Energy Limited163%/yr16.4×—
Thermax Limited7%/yr68.1×₹9.7
Schneider Electric Infrastructure Limited27%/yr154.3×₹5.7
TD Power Systems Limited36%/yr89.8×₹2.5
Azad Engineering Limited150%/yr136.1×—

Compared with companies filed under the same label. That grouping comes from the exchange's filing category, so some of them may not be real rivals.

How it compares with its peers

Against companies the exchange files under the same label (Heavy Electrical Equipment), it ranks 32 of 36 on returns, 13 of 31 on growth, 5 of 36 on margin. That grouping comes from the exchange's filing category, so some of them may not be real rivals.

What makes it hard to beat — and is that still true?

No durable advantage shows in the numbers: it earns 8% on capital, ahead of 11% of companies filed under the same label. That grouping comes from the exchange's filing category, so some of them may not be real rivals.

Whether its growth pays for itself

No — Over the last five years it made ₹543 crore of cash from the business but spent ₹735 crore on plant and equipment, ₹192 crore more than it made; the gap was mostly borrowed — borrowings rose from ₹459 crore to ₹798 crore. And the profit is real: of every 100 rupees it reported over 12 years, about 280 arrived as cash — well above the profit; depreciation and interest are the reason, not a windfall. Its cash comes back more slowly than it used to: it went from being paid 99 days before it paid its own suppliers to paid 84 days before it paid its own suppliers.

Profit reality check

Is the profit real cash? Simple checks on the accounts. Facts only, not advice.

7 of 10 checks clear · 70%

How the profit check works

Latest result · Q1 FY27

What the last results showed. Whether management kept its word is in Pro.

Announced 13 Aug 2026 · Consolidated · Unaudited

Revenue

₹131 Cr

Revenue vs last year

-26.1%

Revenue vs last quarter

-35.3%

Net profit

₹8 Cr

Profit vs last year

-63.6%

Profit vs last quarter

-30.4%

Net margin

5.9%

EPS

₹4.66

Checklist before you investPRO

Points for and against, in one list.

Key numbers & peers

The main numbers grouped by topic, and how the company compares with similar ones.

Price

Market cap
₹927 Cr
Prev close
₹618.05
52w High
₹977
52w Low
₹483
Enterprise value
₹1,254 Cr
Beta
1.1
Price CAGR 1y
-33.0%
Price CAGR 3y
2.0%
Price CAGR 5y
22.0%
Price CAGR 10y
10.0%

Ratios

Return on assets
2.8%
PEG ratio
0.1
P/E ratio
22.1
P/B ratio
1.0
EV / EBITDA
9.1
Industry P/E
48.8
ROCE
8.0%
ROCE 5y average
5.4%
ROE
5.4%
Debt / Equity
0.9
Interest coverage
2.2
Dividend yield
0.6%
ROE 3y average
2.0%
ROE last year
5.0%

Annual P&L

Annual revenue
₹657 Cr
Annual profit
₹58 Cr
Operating margin
23.0%
Net profit margin
8.8%
EBITDA margin
23.0%
Sales growth 3y
38.7%
Sales growth 5y
21.0%
Profit growth 3y
206.0%
Profit growth 5y
19.0%
EPS
₹36.4
Sales growth TTM
-11.0%
Profit growth TTM
60.0%
Dividend payout
10.0%

Quarter P&L

Sales latest quarter
₹131 Cr
Profit latest quarter
₹8 Cr
YoY quarterly sales growth
-26.2%
YoY quarterly profit growth
-63.8%
OPM latest quarter
21.7%

Balance Sheet

Book Value
₹614
Face Value
₹10.0
Total debt
₹798 Cr
Total cash
₹195 Cr
Borrowings
₹798 Cr
Reserves / Equity
60.4

Cash Flow

Operating cash flow
₹95 Cr
Free cash flow
-₹138 Cr
FCF yield
-21.5%
Net cash flow
-₹52 Cr

Shareholding

Promoter holding
56.4%
FII holding
0.6%
DII holding
0.0%
Public holding
43.1%

Peer comparison

CompanyPrice ₹P/EMkt cap ₹ CrDiv yield %Profit qtr ₹ CrProfit var %Sales qtr ₹ CrSales var %ROCE %
B H E L434.9562.31,51,4520.31376.7182.77,697.740.39.1
A B B6,784.5093.41,43,7690.57362.38.03,558.921.029.9
Hitachi Energy30,759.35115.11,37,1020.03294.2123.52,493.768.629.4
CG Power & Ind866.00107.11,36,4360.15308.316.33,280.814.026.7
Siemens3,674.6087.01,30,8600.482,143.1-18.64,713.714.821.4
Siemens Ener.Ind3,240.0075.61,15,3830.12440.967.82,485.639.367.8
GE Vernova T&D4,205.0079.71,07,6690.23363.024.61,836.138.077.4
Swelect Energy590.7520.98960.587.7-65.6130.8-26.28.0
Median440.0033.35,8950.0441.215.5466.320.123.5

Competes with: ABB India, Bharat Heavy Electricals, CG Power and Industrial Solutions Limited, GE Vernova T&D India Limited, Hitachi Energy India Limited, Siemens Energy India Limited, Siemens India

Quarterly results

Sales and profit for each of the last 13 quarters. Newest on the right. ₹ crore.

Consolidated · to 30 Jun 2026
Line itemJun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales8548647611419891219177139139202131
Expenses62324052931697319013698105167102
Material Cost1251071171208990
Change in Inventories8.53-3.61-56-399.70-37
Purchases of Stock-in-Trade2.743.370.420.035.432.82
Employee Cost7.427.018.129.87118.63
Other Expenses472229155238
Operating Profit24172324212918294241333528
OPM %28353732181520132429241822
Other Income13126.944512128.9414128.526.757.299.94
Exceptional items (within Other Income)000-1.81-0.100
Interest11111217141513161416151715
Depreciation11101012101011111213121313
Profit before tax148.098.39409.11163162821141310
Tax %159.642.039.082843453432424321326
Net Profit127.318.22366.598.99-118.9821169.52117.66
EPS in Rs7.204.515.23244.145.43-7.105.8414106.116.734.66
Diluted EPS in Rs5.9214106.116.724.64

Profit & loss

Yearly sales, costs and profit for 12 years, plus the last 12 months (TTM). ₹ crore.

Consolidated · to 31 Mar 2026
Line itemMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales222276241294228252253391246243622657611
Expenses214253217261202216202321184159525506473
Material Cost280432
Change in Inventories83-89
Purchases of Stock-in-Trade179.25
Employee Cost2636
Other Expenses120117
Operating Profit823243425365170628497151138
OPM %3.5081011111420182535162323
Other Income243236272742321279473432
Exceptional items (within Other Income)0-1.91
Interest13121010151718253051576163
Depreciation17171923263028312642434950
Profit before tax226312710-72836870447658
Tax %11736304235455918106824
Net Profit-01722167-102632663145844
EPS in Rs-0.251114104.49-6.7117213.65418.313628
Diluted EPS in Rs9.2236
Dividend Payout %-66524192537-30171433103610

Compounded growth

Average yearly growth over different spans, as stored. A span can cross a demerger or an acquisition.

Compounded sales growth

10 years
9%
5 years
21%
3 years
39%
TTM
-11%

Compounded profit growth

10 years
13%
5 years
19%
3 years
206%
TTM
60%

Stock price CAGR

10 years
10%
5 years
22%
3 years
2%
1 year
-33%

Return on equity

10 years
2%
5 years
2%
3 years
2%
Last year
5%

Balance sheet

What the company owns and what it owes, at the end of each year. ₹ crore.

Consolidated
Line itemMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital101010101015151515151515
Reserves668672690705716704727760772823842906
Borrowings139132114206198228358459550569629798
Other Liabilities84578770709790166148254263364
Minority Interest2033
Total Liabilities9018719019919941,0441,1921,4011,4851,6611,7492,082
Fixed Assets290301323376427441463566666717813842
CWIP171312131172253277162
Investments257288257272258242277291285275268276
Other Assets337281319331296350380519504663661802
Total Assets9018719019919941,0441,1921,4011,4851,6611,7502,083

Cash flows

Real money coming in and going out each year — from the business, from investments and from loans. ₹ crore.

Consolidated
Line itemMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity-54293692833971319013095
Cash from Investing Activity494218-98-120-30-142-73-284-83-113-198
Cash from Financing Activity15-28-5249-53-4949911341950
Net Cash Flow5917-5-47-103-6-15124-1424037-52
Free Cash Flow-49-8217-971-19-8211-19-38-7-139

Ratios

How fast customers pay, how long stock sits, and how well capital earns — year by year.

Consolidated
Line itemMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days9193109726478968099783834
Inventory Days86831571351912092102894121,034166179
Days Payable10791176104173160178231244411108150
Cash Conversion Cycle708690103821281291382677029563
Working Capital Days128-15-23-107-175-178-186-99-267-275-62-84
ROCE %135412454558

Shareholding pattern

Who owns the company — founders (promoters), foreign funds, Indian funds and the public. In %.

Consolidated · to 30 Jun 2026
Line itemSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters565656565656565656565656
FIIs0.060.040.060.120.070.090.060.050.040.220.230.58
DIIs0.4100.470.20000.040.040000
Public434443434444444444434343
No. of Shareholders16,53116,84423,90527,19245,23047,66133,57231,52330,58428,83627,71827,232

Price trend

The price as a Renko brick chart: small moves drop out so the bigger path stands out.

Change over 1 year -33.8% (₹934.25 → ₹618.05)Brick size ₹29.42 (fixed)Bricks 26
₹800₹618Nov '25Feb '26Aug '26
Price moved up one brickPrice moved down one brickLast close ₹618.05 on 9 Oct 2026

Every brick is the same size, about one typical day's move. A new brick needs a full brick's move; turning the other way needs two. Bricks show where the price went, not where it will go.

Open interestPRO

Where option traders are positioned on this stock.

Industry numbers

The numbers that matter most in this industry, from the company's own filings.

1 when an audit qualification is filed as repetitive

0.00flag

2026-03-31

the company's own unlisted debt securities in default at period end

0.00cr

2026-06-30

the company's own loans / revolving facilities in default at period end (standalone filing)

0.00cr

2026-06-30

net debt from the filed balance sheet at the newest year end: Borrowings − Cash Equivalents − Investments (Current); negative = net cash

327inr_cr

2026-03-31

guarantees / comfort given for promoter, promoter group, directors and KMP

0.00cr

2026-03-31

loans outstanding to promoter, promoter group, directors and KMP (governance filing)

0.00cr

2026-03-31

security given for the borrowing of promoter, promoter group, directors and KMP

0.00cr

2026-03-31

News

News and filings about Swelect Energy Systems Limited. Open one to see why it matters.

No recent news for this company.

Supply chain

Who it buys from, sells to and competes with — as recorded in our map of company links.

Competes with

Uses as raw material

  • Anodized aluminium frames (18-micron)
  • Backsheet — polymer (PVF/PVDF composite)
  • Copper (inverter windings, DC/AC cabling)
  • EVA encapsulant film
  • Galvanized structural steel (for MMS / BOS)
  • Junction box
  • Solar cells — crystalline silicon (Mono PERC / TOPCon), bought-in
  • Solar glass — low-iron tempered

Depends on the price of

  • aluminium
  • copper
  • steel

Sells to

About

What the company is, from our own records: where it sits, where it makes things, and what it is made of.

Sector
Capital Goods
Industry
Heavy Electrical Equipment
Classification
Capital Goods › Heavy Electrical Equipment
ISIN
INE409B01013

Plants

  • SWELECT BOS & MMS Plant (Salem)
  • SWELECT Solar PV Module Plant (Coimbatore)

News impact

Big market events that reach Swelect Energy Systems Limited, and how the effect spreads.

No recent market events reach this company.

Dividends, splits & big trades

Money paid out, share splits and buybacks, and big buys or sells by funds and insiders.

Dividends

24 Jul 2026unspecified₹3.5
18 Jul 2025unspecified₹3
22 Jul 2024unspecified₹3
22 Jul 2024special₹1
19 Jul 2023unspecified₹1.2
20 Jul 2022unspecified₹3
16 Jul 2021unspecified₹3
1 Sep 2020unspecified₹0.75

Splits, bonuses & buybacks

  • daily-prices repair: 8 rows from NSE's archive (replace 1, delete 0, insert 7), 2016-10-30..2026-02-01 (docs/flat_day_repair.md)1× · 30 Oct 2016

Insider trades

DisclosedWhoTypeSharesValue ₹ Cr
1 Oct 2026ARULKUMAR PUDUR · DirectorBUY16,5010.97
1 Oct 2026ARULKUMAR PUDUR · DirectorBUY3,5000.21

Documents

Annual reports, results presentations and earnings calls, straight from the source.

Facts from company filings and exchange data. Not investment advice: nothing here tells you to buy or sell.