The shares of the solar panel manufacturer hit 5 percent upper circuit after the company bagged a significant work order for high efficiency solar PV modules, and also announced a fund raising of Rs 290 crore.
Price Movement
With a market capitalization of Rs 811.83 crore, the shares of Swelect Energy Systems Ltd were trading at Rs 535.55 per share, increasing around 2.87 percent as compared to the previous closing price of Rs 520.60 apiece.
Reason for Rise
The shares of Swelect Energy Systems Ltd have seen bullish movement after securing orders over 150 MW for its high-efficiency TOPCon Bi-facial solar PV modules. These orders underscore SWELECT’s technological leadership and the trust it commands in the solar energy market.
Additionally, SWELECT Group secured Rs 290 crore via Non-Convertible Debentures (NCDs) through a private placement with India Infradebt Limited. Backed by its solar assets, the move unlocked Rs 260 crore in cash collaterals, which will be reinvested to expand SWELECT’s Independent Power Producer (IPP) portfolio to 1 GW by 2026-27.
Moreover, the proposed business expansion and upcoming solar projects reinforce SWELECT’s commitment to accelerating India’s renewable energy transition, while setting benchmarks in the renewable energy sector.
Speaking on these milestones, Mr. R. Chellappan, Managing Director, SWELECT Energy Systems Ltd., said: “Securing over 150 MW of TOPCon module orders from industry is an endorsement of our commitment to quality and innovation.
Our 100% testing success further strengthens our resolve to deliver the highest quality solar solutions. The successful NCD funding positions us well to accelerate our expansion plans and contribute meaningfully to India’s clean energy future.”
Also read: Infra stock in focus after receiving ₹185 Cr order for water infra development in MP
Financial Performance
Looking forward to the company’s financial performance, revenue increased by 42 percent from Rs 64 crore in Q3FY24 to Rs 91 crore in Q3Y25. During the same period, net profit shrank from a profit of Rs 8 crore to a loss of Rs 11 crore.
Ratio analysis
The company’s critical ratios show that the return on equity increased from 0.70 percent in FY22-23 to 7.42 percent in FY23-24, while the return on capital employed increased from 6.00 percent to 7.11 percent. The net profit margin (NPM) for fiscal year 23-24 is 2.80 percent.
Company Profile
Swelect Energy Systems Ltd is engaged in the business of manufacturing and trading of Solar power projects, off-grid solar photovoltaic modules, based on crystalline silicon technology (c-Si), solar and wind power generation, contract manufacturing services, installation and others.
Written by Abhishek Singh
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