SWELECT ENERGY SYSTEMS 2018-19 Annual Report Analysis

Helping You Build Wealth With Honest Research
Since 1996. Try Now

  • MyStocks

MEMBER'S LOGINX

     
Login Failure
   
     
   
     
 
 
 
(Please do not use this option on a public machine)
 
     
 
 
 
  Sign Up | Forgot Password?  

SWELECT ENERGY SYSTEMS 2018-19 Annual Report Analysis
Thu, 19 Sep

SWELECT ENERGY SYSTEMS has announced its results for the year ended March 2019. Let us have a look at the detailed performance review of the company during FY18-19.

SWELECT ENERGY SYSTEMS Income Statement Analysis

  • Operating income during the year fell 22.7% on a year-on-year (YoY) basis.
  • The company's operating profit decreased by 25.0% YoY during the fiscal. Operating profit margins witnessed a fall and stood at 11.1% in FY19 as against 11.4% in FY18.
  • Depreciation charges increased by 11.6% and finance costs increased by 49.3% YoY, respectively.
  • Other income declined by 4.0% YoY.
  • Net profit for the year declined by 57.0% YoY.
  • Net profit margins during the year declined from 4.9% in FY18 to 2.7% in FY19.

SWELECT ENERGY SYSTEMS Income Statement 2018-19

No. of Mths Year Ending 12 Mar-18* 12 Mar-19* % Change
Net Sales Rs m 2,945 2,277 -22.7%
Other income Rs m 273 262 -4.0%
Total Revenues Rs m 3,218 2,539 -21.1%
Gross profit Rs m 336 252 -25.0%
Depreciation Rs m 233 260 11.6%
Interest Rs m 103 153 49.3%
Profit before tax Rs m 274 102 -63.0%
Tax Rs m 115 36 -68.6%
Profit after tax Rs m 159 68 -57.0%
Gross profit margin % 11.4 11.1
Effective tax rate % 42.0 35.7
Net profit margin % 4.9 2.7
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



SWELECT ENERGY SYSTEMS Balance Sheet Analysis

  • The company's current liabilities during FY19 down at Rs 2 billion as compared to Rs 2 billion in FY18, thereby witnessing an decrease of -2.6%.
  • Long-term debt down at Rs 288 million as compared to Rs 317 million during FY18, a fall of 9.0%.
  • Current assets fell 11% and stood at Rs 5 billion, while fixed assets rose 13% and stood at Rs 4 billion in FY19.
  • Overall, the total assets and liabilities for FY19 stood at Rs 10 billion as against Rs 10 billion during FY18, thereby witnessing a growth of 0%.

SWELECT ENERGY SYSTEMS Balance Sheet as on March 2019

No. of Mths Year Ending 12 Mar-18* 12 Mar-19* % Change
Networth Rs m 7,148 7,260 1.6
 
Current Liabilities Rs m 2,382 2,319 -2.6
Long-term Debt Rs m 317 288 -9.0
Total Liabilities Rs m 9,935 9,962 0.3
 
Current assets Rs m 5,700 5,084 -10.8
Fixed Assets Rs m 3,885 4,401 13.3
Total Assets Rs m 9,935 9,962 0.3
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



SWELECT ENERGY SYSTEMS Cash Flow Statement Analysis

  • SWELECT ENERGY SYSTEMS's cash flow from operating activities (CFO) during FY19 stood at Rs 692 million, an improvement of 2,379.6% on a YoY basis.
  • Cash flow from investing activities (CFI) during FY19 stood at Rs -1 billion, an improvement of 18.6% on a YoY basis.
  • Cash flow from financial activities (CFF) during FY19 stood at Rs -528 million on a YoY basis.
  • Overall, net cash flows for the company during FY19 stood at Rs -1 billion from the Rs -469 million net cash flows seen during FY18.

SWELECT ENERGY SYSTEMS Cash Flow Statement 2018-19

Particulars No. of months 12 12 % Change
Year Ending Mar-18 Mar-19
Cash Flow from Operating Activities Rs m 28 692 2,379.6%
Cash Flow from Investing Activities Rs m -1,009 -1,197 -
Cash Flow from Financing Activities Rs m 485 -528 -
Net Cash Flow Rs m -469 -1,033 -
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Current Valuations for SWELECT ENERGY SYSTEMS

  • The trailing twelve-month earnings per share (EPS) of the company stands at Rs 6.8, an decline from the EPS of Rs 15.7 recorded last year.
  • The price to earnings (P/E) ratio, at the current price of Rs 125.0, stands at 28.7 times its trailing twelve months earnings.
  • The price to book value (P/BV) ratio at current price levels stands at 0.4 times, while the price to sales ratio stands at 1.4 times.
  • The company's price to cash flow (P/CF) ratio stood at 3.8 times its end-of-year operating cash flow earnings.

Per Share Data/Valuations

No. of Mths Year Ending 12 Mar-18* 12 Mar-19*
Sales per share (Unadj.) Rs 291.3 225.2
TTM Earnings per share Rs 15.7 6.8
Diluted earnings per share Rs 15.7 6.8
Price to Cash Flow x 3.2 3.8
TTM P/E ratio x 28.7 28.7
Price / Book Value ratio x 0.7 0.4
Market Cap Rs m 1,264 1,263
Dividends per share (Unadj.) Rs 4.0 2.5
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



Ratio Analysis for SWELECT ENERGY SYSTEMS

  • Solvency Ratios
  • Current Ratio: The company's current ratio deteriorated and stood at 2.2x during FY19, from 2.4x during FY18. The current ratio measures the company's ability to pay short-term and long-term obligations.

    Interest Coverage Ratio: The company's interest coverage ratio deteriorated and stood at 1.7x during FY19, from 3.7x during FY18. The interest coverage ratio of a company states how easily a company can pay its interest expense on outstanding debt. A higher ratio is preferable.

  • Profitability Ratios
  • Return on Equity (ROE): The ROE for the company declined and down at 0.9% during FY19, from 2.2% during FY19. The ROE measures the ability of a firm to generate profits from its shareholders capital in the company.

    Return on Capital Employed (ROCE): The ROCE for the company declined and down at 3.4% during FY19, from 5.0% during FY18. The ROCE measures the ability of a firm to generate profits from its total capital (shareholder capital plus debt capital) employed in the company.

    Return on Assets (ROA): The ROA of the company declined and down at 2.2% during FY19, from 2.6% during FY18. The ROA measures how efficiently the company uses its assets to generate earnings.

Key Ratio Analysis

No. of Mths Year Ending 12 Mar-18* 12 Mar-19*
Current ratio x 2.4 2.2
Debtors’ Days Days 72 64
Interest coverage x 3.7 1.7
Debt to equity ratio x 0.0 0.0
Return on assets % 2.6 2.2
Return on equity % 2.2 0.9
Return on capital employed % 5.0 3.4
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster



To see how SWELECT ENERGY SYSTEMS has performed over the last 5 years, please visit here.

SWELECT ENERGY SYSTEMS Share Price Performance

Over the last one year, SWELECT ENERGY SYSTEMS share price has moved down from Rs 303.7 to Rs 125.0, registering a loss of Rs 178.7 or around 58.8%.

Meanwhile, the S&P BSE CAPITAL GOODS Index is trading at Rs 16,780.7 (down 1.1%). Over the last one year it has moved down from 18,168.6 to 16,780.7, a loss of 1,388 points (down 7.6%).

Overall, the S&P BSE SENSEX is down 2.8% over the year.

(To know more, check out historical annual results for SWELECT ENERGY SYSTEMS and quarterly results for SWELECT ENERGY SYSTEMS)

Equitymaster requests your view! Post a comment on "SWELECT ENERGY SYSTEMS 2018-19 Annual Report Analysis". Click here!

  

Related Views on News

Mazagon Dock Shipbuilders IPO: Should You Apply? (IPO)

Sep 29, 2020

Should you bet on this public sector defence shipbuilder?

SWELECT ENERGY SYSTEMS Announces Quarterly Results (3QFY20); Net Profit Down 27.0% (Quarterly Result Update)

Feb 17, 2020 | Updated on Feb 17, 2020

For the quarter ended December 2019, SWELECT ENERGY SYSTEMS has posted a net profit of Rs 28 m (down 27.0% YoY). Sales on the other hand came in at Rs 388 m (up 81.4% YoY). Read on for a complete analysis of SWELECT ENERGY SYSTEMS's quarterly results.

More Views on News

Most Popular

It's the Beginning of a New Bull Phase in Smallcaps(Profit Hunter)

Feb 24, 2021

Last time the smallcap index crossed 19k a big correction followed. Here's what makes it different this time.

Make Rs 5,000 Per Day Trading the Market(Fast Profits Daily)

Feb 25, 2021

In this video, I'll show you how to get started on the path to daily trading profits.

The Hidden Tesla in My Great Indian Wealth Project(Profit Hunter)

Feb 23, 2021

An Indian company founded three decades ago in a garage caught my attention...

How Much Money For Day Trading?(Fast Profits Daily)

Feb 22, 2021

In this video, I'll show you how to allocate your capital as a day trader.

More

India's #1 Trader
Reveals His Secrets

Secret To Increasing Your Trading Profits Today
Get this Special Report,
The Secret to Increasing Your Trading Profits Today, Now!
We will never sell or rent your email id.
Please read our Terms

TRACK SWELECT ENERGY SYSTEMS

  • Track your investment in SWELECT ENERGY SYSTEMS with Equitymaster's Portfolio Tracker. Set live price alerts, get research alerts and more. Get access now...
  • Add To MyStocks

MORE ON SWELECT ENERGY SYSTEMS

SWELECT ENERGY SYSTEMS 8-QTR ANALYSIS

COMPARE SWELECT ENERGY SYSTEMS WITH

MARKET STATS