{"id":7372,"date":"2015-05-15T09:46:59","date_gmt":"2015-05-15T04:16:59","guid":{"rendered":"https:\/\/blog.fundsindia.com\/blog\/?p=7372"},"modified":"2015-05-27T12:26:36","modified_gmt":"2015-05-27T06:56:36","slug":"swelect-energy-systemsltd","status":"publish","type":"post","link":"https:\/\/fundsindia.com\/blog\/equities\/swelect-energy-systemsltd\/7372","title":{"rendered":"Swelect Energy SystemsLtd."},"content":{"rendered":"<p style=\"text-align: justify;\">Swelect Energy Systems Ltd (Swelect), founded in 1994, is a Chennai based\u00a0prominent manufacturer of power electronics and \u00a0enewable energy. Earlier\u00a0acknowledged as Numeric Power Systems Ltd, Swelect operates primarily\u00a0across four major segments, namely, Contract Manufacturing, Solar Energy\u00a0Systems\/ Services, foundry and others.<\/p>\n<div class=\"blog-highlight\" style=\"clear: both; background: #2baae2; border: none; width: 60%; text-align: center; box-shadow: 0 5px 5px rgba(0, 0, 0, 0.5);\"><a style=\"text-decoration: none;\" href=\"\"http:\/\/www.fundsindia.com\/content\/jsp\/LP\/equity\/equities1.do?ref=blog-button\" target=\"_blank\"> <span style=\"color: #fff; font-weight: bold;\">Open<\/span> <span style=\"color: #fff; font-weight: bold; text-decoration: none;\"> a FREE Equity Account Now! <\/span><\/a><\/div>\n<p><strong>Valuation and view<\/strong><\/p>\n<p style=\"text-align: justify;\">With renewable energy gaining traction in India, the sector is\u00a0likely to attract huge investments going forward. Swelect, a\u00a0renowned name in renewable energy space, is well placed to\u00a0take benefits of this opportunity. The government\u2019s\u00a0announcement to raise the solar power capacity to 1, 00,000\u00a0MW by 2022 has brought a golden opportunity for the company as Swelect, also a channel partner of MNRE, is likely\u00a0to get a boost to its revenue-base from the same. Expectations\u00a0for a consistent growth in exports of solar modules from India\u00a0also makes us positive for Swelect\u2019s growth prospects, given\u00a0the company\u2019s ~25% earnings comes from exports.<\/p>\n<p style=\"text-align: justify;\">We initiate BUY rating on Swelect. At CMP of Rs564.0, Swelect is\u00a0currently trading at an EV\/EBITDA of 17.1x FY16E and 12.7x \u00a0FY17E. Considering the company\u2019s strong fundamentals, we\u00a0recommend \u2018BUY\u2019 with a target price of \u00a0Rs670.0, which implies\u00a0potential upside of ~19% to the CMP from one year\u00a0perspective.<\/p>\n<p><a href=\"https:\/\/www.fundsindia.com\/blog\/wp-content\/uploads\/2015\/05\/Research-Report-Swelect-Energy-Systems-Ltd.pdf\">Research Report Swelect Energy Systems Ltd<\/a><\/p>\n<p><i>Investments in equity shares, debentures, etc., are not obligations of, or guaranteed by Wealth India Financial Services Pvt. Ltd., and are subject to investment risks. <a href=\"http:\/\/pages.fundsindia.com\/pages\/disclaimer-equities\/\">Click here<\/a> to read our full disclaimer.<\/i><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Swelect Energy Systems Ltd (Swelect), founded in 1994, is a Chennai based\u00a0prominent manufacturer of power electronics and \u00a0enewable energy. Earlier\u00a0acknowledged as Numeric Power Systems Ltd, Swelect operates primarily\u00a0across four major segments, namely, Contract Manufacturing, Solar Energy\u00a0Systems\/ Services, foundry and others.<\/p>\n","protected":false},"author":14,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[59],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v17.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Swelect Energy SystemsLtd.<\/title>\n<meta name=\"description\" content=\"Find the latest research report on Swelect Energy System Ltd. On FundsIndia Marketplace.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fundsindia.com\/blog\/equities\/swelect-energy-systemsltd\/7372\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Swelect Energy SystemsLtd.\" \/>\n<meta property=\"og:description\" content=\"Find the latest research report on Swelect Energy System Ltd. 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