SWELECTESIndustrials

Swelect Energy Systems Limited

Heavy Electrical Equipment · ISIN INE409B01013 · BSE 532051 · NSE EQ · FV ₹10
Last price
₹553
+1.71%today
What this company does

Swelect Energy Systems Limited operates in Heavy Electrical Equipment, part of the Industrials sector. It booked ₹131 cr of revenue in its latest quarter (Q1 FY27) and kept 5.4% of sales as profit.

In the report:
51out of 100
Equitytale Health Score
Mixed

Healthier than 51% of companies in Industrials, on all six measures of filed financials. Each measure is ranked against the 129–290 companies that reported it.

Measures financial condition, not whether to buy. Learn what this score means · How this is calculated

Price momentum
neutral
RSI (14)
34

At close. Not part of the score.

Profitability & returns30

How much profit it earns on the money it employs

Balance sheet21

How much it owes, and whether earnings cover the interest

Cash quality51

Whether reported profit actually arrives as cash

Growth & consistency89

Whether sales and profit have grown, and how steadily

Valuation56

What today's price implies, against our models or its peers

Governance & risk100

How much of the promoters' stake is pledged, and how much they hold · highest in its sector on what we could measure

Is this company doing well?
not investment advice
Strengths
Makes a profit
Promoters hold 56%
No promoter shares pledged
Turns profit into real cash
Watch-outs
! Thin 5.4% net margin
! Sales down 26% vs last year
! Profit down 66% vs last year
! Low 3.1% return on equity

What if I invest in SWELECTES?

Set a growth rate and see what a monthly SIP would add up to. Your assumption, our arithmetic.

You would put in
₹12.00 lakh
120 instalments
At 10% a year, it would become
₹20.15 lakh

The starting rate is a round number, not a view on this company — this is your assumption, and the figure above is arithmetic on it. Returns are not steady year to year, and a real holding would not grow in a straight line. We do not publish price targets or predict returns.

Key ratios · latest quarter + price
₹553 +1.71%
latest close · 2026-09-17
1-year return
+152.7%
52-wk low ₹21152-wk high ₹700
Is it cheap or expensive?
What you pay for the profits, book value and cash flow. Higher isn't automatically worse — it can signal faster growth.
P/E ratio29.7Average
LowAverageHigh
P/B ratio0.91Below book
Below bookModerateHigh
EV / EBITDA10.4Average
LowAverageHigh
How good is the business?
How much profit it earns from its money and its sales.
Return on equity3.1%Weak
WeakFairStrong ▸15%
Return on capital7.2%Weak
WeakFairStrong
Net margin5.4%Decent
ThinDecentStrong
EBITDA margin29.3%Healthy
ThinDecentHealthy
Is it financially safe?
How much it owes, and whether it can comfortably cover it.
Debt to equity0.84Moderate
LowModerateHigh ▸1
Interest cover1.7×Risky
RiskyOkayStrong ▸5×
Current ratio1.49Healthy
Tight ◂1HealthyAmple
More figures
Market cap
₹838 cr
Book value
₹608
EPS
₹4.66
latest quarter
Net debt
₹761 cr
owes more than its cash
Enterprise value
₹1,599 cr
EBITDA
₹153 cr
annualised
EBIT
₹103 cr
annualised
Operating margin
19.6%
Return on assets
1.4%
Earnings yield
3.37%
P/S
1.60
Sales / share
₹345.1
Tax rate
26.3%
Face value
₹10
Shares
1.5 cr
Working capital
₹319 cr
Current assets
₹975 cr
Current liabilities
₹657 cr
Delivery %
51.6%
Strong / safeFairWeak / riskyValuation — a level, not good/badBands are general rules of thumb, not advice.

P/E, ROE, ROCE and margins are annualised from the latest quarter; per-share and balance-sheet ratios use the most recent balance sheet on file · prices as of 2026-09-17.

Worth vs price · from the FY 2026 report & filings
not investment advice
Hard to value confidentlyLow confidence
The market price is far above what these earnings- and book-based models support — a fast-growing or asset-light business can trade well above them for years, so we won't put a confident number on how overpriced it is.
Models span ₹485₹601, midpoint ₹543

An educational model from the company's own filings, every assumption shown — not investment advice or a price target. Prices can stay above or below any model for years.

P&L · Q1 FY27 (consolidated)
Revenue from Operations₹131 cr
Other Income₹10 cr
Total Income₹141 cr
Cost of Materials₹90 cr
Purchases of Stock-in-Trade₹3 cr
Inventory Change (±)₹-37 cr
Employee Benefit Expense₹9 cr
Finance Costs₹15 cr
Depreciation & Amortisation₹13 cr
Other Expenses₹38 cr
Total Expenses₹130 cr
Profit before Tax₹10 cr
Tax Expense₹3 cr
Share of JV / Associates₹-2.9 L
Net Profit₹8 cr
Net margin on total income5.4%
Where the money goes · Q1 FY27
% of total income
Materials + stock-in-trade₹56 cr39.9%
Employee benefit expense₹9 cr6.1%
Finance costs₹15 cr10.8%
Depreciation & amortisation₹13 cr9.0%
Other expenses₹38 cr26.8%
Tax expense₹3 cr1.9%
Profit for the period₹8 cr5.4%
Total income ₹141 cradds up to ₹100 ✓
Quarterly results · consolidated (₹ cr)
MetricQ3 FY26Q4 FY26Q1 FY27
Revenue139 cr202 cr131 cr
Total income147 cr210 cr141 cr
Expenses131 cr197 cr130 cr
Profit before tax14 cr13 cr10 cr
Tax4 cr2 cr3 cr
Net profit (owners' share)9 cr10 cr7 cr
Net margin (owners' share, on revenue)6.7%5.0%5.4%
EPS (₹)6.116.734.66
YoY (latest quarter): total income -25.5% · net profit -65.6%
Balance sheet & cash flow · as of Mar 2026
Moderate debt
Total assets
₹2,083 cr
Shareholder equity
₹921 cr
parent shareholders
Total debt
₹798 cr
Cash
₹36 cr
Cash flow · H1 FY26
Operating
₹66 cr
Investing
₹-74 cr
Financing
₹-45 cr
Peer comparison
Heavy Electrical Equipment · by market value
CompanyPriceMarket capP/E
Siemens Limited₹3,764₹8.37 L cr97.6
ABB India Limited₹7,131₹1.51 L cr102.1
Bharat Heavy Electricals Limited₹429₹1.49 L cr99.4
Hitachi Energy India Limited₹31,230₹1.39 L cr118.3
CG Power and Industrial Solutions Limited₹880₹1.39 L cr110.6
GE Vernova T&D India Limited₹4,341₹1.11 L cr76.5
Siemens Energy India Limited₹3,109₹1.11 L cr62.8
Suzlon Energy Limited₹43₹58,505 cr48.3
Thermax Limited₹3,570₹40,210 cr398.4
Same industry · latest reported numbers · not a recommendation.
Corporate actions
Dividend yield
0.63%
trailing 12 months
Dividend / share (TTM)
₹3.5
Last dividend
₹3.5
ex 24 Jul 2026
ActionDetailEx-date
Dividend₹3.5 / share24 Jul 2026
Dividend₹3 / share18 Jul 2025
Dividend₹3 / share22 Jul 2024
Dividend₹1 / share22 Jul 2024
Dividend₹1.2 / share19 Jul 2023
Dividend₹3 / share20 Jul 2022
Who owns it · 2026-06-30
No pledge
Promoter
56.4%
FII / Foreign
0.6%
DII / Domestic
Retail / others
43.1%
Smart-money activity
Insider trades
BoughtR. CHELLAPPAN · Promoters4,184 · ₹4.9 L30 Dec 19
BoughtR. CHELLAPPAN · Promoters8,000 · ₹9.3 L27 Dec 19
BoughtR. CHELLAPPAN · Promoters354 · ₹39,36926 Dec 19
Bulk / block deals
BoughtGRAVITON RESEARCH CAPITAL LLP · NSE80,974 @ ₹899.1212 Sep 25
SoldGRAVITON RESEARCH CAPITAL LLP · NSE80,974 @ ₹899.112 Sep 25
SoldGRAVITON RESEARCH CAPITAL LLP · NSE1.32 L @ ₹1,233.485 Sep 24
Stake changes
BoughtR Chellappan · promoter→ 48.15% · 2,13922 Sep 17
BoughtR. Chellapan · promoter→ 48.13% · 47,8618 Sep 17
Promoter pledges
PledgedReliance Financial Limited67,500 · 0.00% held30 May 17
What shareholders were asked to approve

A company cannot decide everything on its own. Things like a top executive’s pay, issuing new shares, or re-appointing a director have to be put to the people who own the company, and they vote — one vote per share. So whoever owns the most shares has the most say.

Postal ballot · 15 Nov 2025
See the official result
1
Change in Designation and Appointment of Mr. R Chellappan (DIN: 00016958) as a Whole-time Director and Vice Chairman of the Company for a period of 5 years and fixing of remuneration.
Promoters had a personal stake in this
Backed by 100% of shareholders other than promotersneeded 75%
13.71 L votes for, 1,776 against · 0% of mutual funds and other big investors said no
2
Appointment of Dr. Arulkumar Pudur Shanmugasundaram (DIN: 08371976) as the Chief Executive Officer and Managing Director of the Company for a period of 5 years and fixing of remuneration
Promoters had a personal stake in this
Backed by 100% of shareholders other than promotersneeded 75%
13.71 L votes for, 1,776 against · 0% of mutual funds and other big investors said no
3
Change in Designation and Appointment of Mr. A. Balan (DIN: 00017091) as a Whole-time Director of the Company for a period of 5 years and fixing of remuneration
Promoters had a personal stake in this
Backed by 100% of shareholders other than promotersneeded 75%
13.71 L votes for, 1,716 against · 0% of mutual funds and other big investors said no
4
Appointment of Mr. Gnanasekar Sukumar Samuel (DIN: 05284689) as a Non-Executive, Non-Independent Director of the Company
Backed by 100% of shareholders other than promotersneeded 75%
13.71 L votes for, 1,779 against · 0% of mutual funds and other big investors said no

Every vote count above is taken from the result the company filed with the stock exchange, certified by an independent counter. To work out what would have happened without the promoters, we simply remove their votes and re-apply the same legal bar the proposal had to clear. Nothing here is an estimate or an opinion.

Who controls this company, and what it pays them

Most Indian companies are controlled by a family or group — the promoters. The exchange requires them to be listed by name, including members who own no shares at all, and requires the company to disclose any business it does with them.

The promoter group — 13 named members
owning 56.4% between them · as of 2026-06-30
CHELLAPPAN R48.80%
BALAN A3.10%
V C RAGHUNATH1.16%
NACHIAPPAN K V1.09%
GUNASUNDARI C0.81%
MIRUNALINI V C0.47%
RAGHUNATH V C0.39%
AARTHI BALAN0.16%
Business done with them
FY2026 · 4 of the group
The company paid ₹2.1 L to companies in the promoter group last year — about 0.0% of its ₹657 cr revenue and received ₹1.6 L back from them.
SWELECT ELECTRONICS PRIVATE LIMITED
Other payments to them · RENT EXPENSE
₹2.1 L
company paid
R CHELLAPPAN
Sold goods to them · SALE OF GOODS, REMENURATION=144.71, COMMISSION=25.02, DIVIDEND PAID=221.94, TRADE PAYABLES
also owns 48.80% of the company
₹0.91 L
company received
K V NACHIAPPAN
Sold goods to them · SALE OF GOODS, REMENURATION=38.60, COMMISSION=5.78, DIVIDEND PAID=4.96, TRADE PAYABLES
also owns 1.09% of the company
₹0.6 L
company received
A BALAN
Sold goods to them · SALE OF GOODS, REMENURATION=44.33, COMMISSION=5.78, DIVIDEND PAID=14.08, TRADE PAYABLES
also owns 3.10% of the company
₹0.05 L
company received

The company also transacted with 4 other related parties — subsidiaries, joint ventures, directors and others — that we could not match by name to the promoter list above. Some may still be connected to the family; we only count the ones the filings let us match with certainty.

Names and holdings from the company’s shareholding pattern filed with the exchange; transactions from the related-party note in its annual report. Every figure is as filed — these are legal, disclosed dealings, and what to make of them is your call.

How the stock has moved · adjusted for splits & bonuses
Data from primary exchange filings · analysis tool, not investment advice.