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Websol Energy Systems Ltd Stock Analysis

Small Cap
Evaluated by 514 users | BSE: 517498 | NSE: WEBELSOLAR |
Electronics - Components
Webel-Sl Energy Systems, is a leading producer of Solar Photovotaic Cells and Modules in India. It is one of the fastest growing companies within the solar photovoltaic industry in India with a 30 per cent annual growth rate and a 10 MW manufacturing facility for cells and modules. Solar cells...

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end
Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Value Creation
 Mar'11Jun'12Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20
Return on Capital Employed 1.66%-38.74%-3.31%-6.77%-6.21%-2.69%44.02%6.12%-10.97%7.99%
Growth Parameters
Growth Parameters Colour Code Guide
Net Sales (Rs. Cr.) 22611515230535628029618368.6196
Y-o-Y Gr. Rt.--49.2%32.9%100.1%16.8%-21.4%5.9%-38.1%-62.6%185.2%
Adjusted EPS (Rs.) -1.34-69.49-15.27-20.86-9.76-3.837.91.43-8.683.86
Y-o-Y Gr. Rt.-NANANANANANA-96.2%-707%NA
Book Value per Share (Rs.) 97.8-26.26-53.08-73.58-97.47-101.9726.4137.7242.6841.55
Adjusted Net Profit -3-153-33.5-45.8-21.5-8.383.33.8-25.211.8
Net Op. Cash Flow (Rs. Cr.) 79.6-83.4-5.2-56-12.729.814210.350.7
Debt to Cash Flow from Ops 5.25-4.11-109.2-8.76-38.3315.330.597.8615.34113.99
Standalone financials take only the parent company into account while consolidated financials take into account financials of the parent company as well as of all its subsidiaries. In most companies consolidated financials should be used for analysis.
Websol Energy Systems Ltd. should be analysed on a Standalone basis
CAGR
CAGR Colour Code Guide
  9 yrs 5 yrs 3 yrs 1 yr
Net Sales -1.6%-11.3%-12.9%185.2%
Adjusted EPS NANA-53.3%NA
Book Value per Share -9.1016.3-2.7
Share Price 10% -4.3% -20.6% 144.2%
Key Financial Parameter
Performance Ratio Colour Code Guide
 Mar'11Jun'12Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20
Return on Equity (%) -1.31-294.2141.7943.5212.714.17-113.444.79-22.459.4
Operating Profit Margin (%) 11.6-81.48-7.934.641.463.119.669.14-27.982.8
Net Profit Margin (%) -1.31-133.24-22.03-15.05-6.03-2.9828.132.08-36.766.04
Debt to Equity 1.94-5.93-4.89-3.04-2.28-2.041.450.80.610.61
Working Capital Days 47444846828430732113496344112
Cash Conversion Cycle 18519881-7-24-66-77-56-23-67
Entity Percentage Holding
Promoters 25.39%
Institutions 9.22%
Non-Institutions 65.40%
Pledged *72.9672.5851.9845.3253.3170.8170.2470.2470.240.00
* Pledged shares as % of Promoter's holding (%)
Data is not available for this company.

The 5-year analysis of Websol Energy Systems Ltd's performance infers:

Websol Energy Systems Ltd earnings have grown by 0%, whereas share price has depreciated -4.3% CAGR over the past five years, indicating the company's share price is likely undervalued. However, for specific investment actions please connect with your investment advisor.

We analysed the performance of Websol Energy Systems Ltd share prices over the last 10 years. Here is what we found out:

Websol Energy Systems Ltd share price has depreciated -5% annually over the past ten years.

Webel-Sl Energy Systems, is a leading producer of Solar Photovotaic Cells and Modules in India. It is one of the fastest growing companies within the solar photovoltaic industry in India with a 30 per cent annual growth rate and a 10 MW manufacturing facility for cells and modules.

Solar cells are being produced at the company's state-of-the-art integrated production facility in Kolkata with automated processes and a unique captive technology. In this integrated production system, Webel

Webel-Sl Energy Systems, is a leading producer of Solar Photovotaic Cells and Modules in India. It is one of the fastest growing companies within the solar photovoltaic industry in India with a 30 per cent annual growth rate and a 10 MW manufacturing facility for cells and modules.

Solar cells are being produced at the company's state-of-the-art integrated production facility in Kolkata with automated processes and a unique captive technology. In this integrated production system, Webel Solar produces high efficiency photovotaic cells and modules using mono-crystalline silicon wafers. A high standard of quality is maintained throughout the entire process of making cells to modules.

Webel Solar has established the reputation for making highly reliable photovoltaic modules for various domestic and commercial applications. All Webel Solar's modules are suitable for grid-connected and stand-alone power plants of high performance and reliability.

Webel Solar Modules are made with high efficiency solar cells. Every single cell is electrically matched to minimize losses, for making modules suitable for commercial as well as domestic applications Webel Solar modules have been tested for their suitability for grid connected as well as stand-alone systems offering high performance and reliability.

The solar photovoltaic module is manufactured with mono-crystalline solar cells conforming to strict requirements of international quality standards.

Milestones:

  • 1995-1997 Production commenced with technical support from a European established Company. The company processed 5' wafers. Installed capacity: 1 MW.
  • 1998-1999 Production evolved to 6' wafers and modules upto 95 Wp for type W900. A quality cetificate for JRC-ISPRA IEC 61215 standards was obtained.
  • 2000-2001 Production commenced on 8' wafers. Module capacity increased to 125 Wp. For type W1000. Intalled capacity - 3 MW
  • 2002 The JRC-ISPRA IEC 61215 standards certificate was obtained for all W1000 modules. UL 1703 listing was obtained for all W900 type modules
  • 2003 Installed capcity increased from 3 MW to 5 MW. UL 1703 listing was obtained for W1000 type modules. Production of 160/190 Wp modules commenced.
  • 2009 - 30 MW cell & module line installed and commissioned
    Solar PV cells and modules trial production started in May 2009
    Received IEC 61215 and IEC 61730 certification for 180 Wp and 225 Wp module
    Established representative offices in USA and Germany
  • 2011 - The Company has signed a Joint Venture Agreement on February 21, 2011 with M/s Gopika Infrastructure LLP for the development of its land situated at Plot No. 1, Block - GP, Salt Lake Electronics Complex, Kolkata - 700 091.

Product range of the company includes:

  • Photovoltaic Module- W1000
  • Photovoltaic Module-  W900
  • Photovoltaic Module-  W250, W250B
  • Photovoltaic Module-  W200
  • Photovoltaic Module-  W450,W55
  • Photovoltaic Module-  W55A
  • Photovoltaic Module-  W50C
  • Photovoltaic Module-  W08, W10

Achievements/ recognition:

Type Approval Certificate PV-MQ-274/02Qualification Certificate PV-MQ-200/99.

Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323

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