Websol Energy System Ltd - Stock Valuation and Financial Performance

BSE: 517498 | NSE: WEBELSOLAR | Electronics - Components | Small Cap

Websol Energy System Share Price

487.40 23.20 5.00%
as on 28-Mar'24 16:01

DeciZen - make an informed investing decision on Websol Energy System

Overall Rating
Bole Toh

1. Quality

2. Valuation

Overvalued

3. Price Trend

Websol Energy System stock performance -

mw4me loader
P/E Ratio (SA):
0.00
Market Cap:
2,057.1 Cr.
52-wk low:
62.3
52-wk high:
487.4

Is Websol Energy System Ltd an attractive stock to invest in?

1. Is Websol Energy System Ltd a good quality company?

Past 10 year’s financial track record analysis by Moneyworks4me indicates that Websol Energy System Ltd is a below average quality company.

2. Is Websol Energy System Ltd undervalued or overvalued?

The key valuation ratios of Websol Energy System Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.

3. Is Websol Energy System Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Strong which suggest that the price of Websol Energy System Ltd is likely to Rise in the short term. However, please check the rating on Quality and Valuation before investing

10 Year X-Ray of Websol Energy System:

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

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.
Websol Energy System Ltd has not performed well majority of the past ten years indicating its past ten year financial track record is not good

Value Creation

Value Creation Index Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
ROCE % -6.8%-6.2%-2.7%44%6.1%-11%6.8%26.9%4.9%-8.8%-
Value Creation
Index
NANANA2.1-0.6-1.8-0.50.9-0.7-1.6-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 30535628029618368.619615421317.214
Sales YoY Gr.-16.8%-21.4%5.9%-38.1%-62.6%185.2%-21.5%38.8%-91.9%-
Adj EPS -20.9-9.8-3.837.91.4-8.73.115.72.3-5.8-5
YoY Gr.-NANANA-96.2%-707%NA412.4%-85.1%-347.6%-
BVPS (₹) -73.6-97.5-10226.437.742.740.755.952.349.340.2
Adj Net
Profit
-45.8-21.5-8.383.33.8-25.29.448.88.5-22.4-21
Cash Flow from Ops. -56-12.729.814210.350.736.2-3-8.4-
Debt/CF from Ops. -8.8-38.315.30.67.915.31141-12.2-3.2-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales -27.3%-37.7%-55.5%-91.9%
Adj EPS NA-232.2%-223.5%-347.6%
BVPSNA5.5%6.6%-5.7%
Share Price 56.5% 80.6% 125.8% 592.6%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
Return on
Equity %
43.512.74.2-113.44.8-22.57.532.74.7-11.7-11.2
Op. Profit
Mgn %
4.61.53.19.79.1-281.62212.4-70.3-917.7
Net Profit
Mgn %
-15.1-6-328.12.1-36.84.831.84-129.9-148.6
Debt to
Equity
-3-2.3-21.50.80.60.60.20.20.1-
Working Cap
Days
28430732113496344112118861,1503,604
Cash Conv.
Cycle
-7-24-66-77-56-23-67-5017480-8,213

Recent Performance Summary

No data to display

Return on Equity is Poor

Sales growth has been subdued in last 3 years -55.51%

Sales growth is not so good in last 4 quarters at -59.76%

Latest Financials - Websol Energy System Ltd.

Standalone Consolidated
TTM EPS (₹) -5 -
TTM Sales (₹ Cr.) 14.2 -
BVPS (₹.) 40.2 -
Reserves (₹ Cr.) 128 -
P/BV 12.11 -
PE 0.00 -
From the Market
52 Week Low / High (₹) 62.30 / 487.40
All Time Low / High (₹) 0.50 / 485.20
Market Cap (₹ Cr.) 2,057
Equity (₹ Cr.) 42.2
Face Value (₹) 10
Industry PE 89.1

Management X-Ray of Websol Energy System:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.0012.910.0041.415.7889.2779.28
* Pledged shares as % of Promoter's holding (%)

Event Update

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Analyst's Notes

Key Ratios of Websol Energy System

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Sales3053562802961836919615421317
Operating Expenses 2923512712671679319312018730
Manufacturing Costs2327282521111713236
Material Costs25230522821913057152921469
Employee Cost 67779999107
Other Costs 101281671513678
Operating Profit 12592917-2533426-13
Operating Profit Margin (%) 4.0%1.5%3.1%9.7%9.1%-35.8%1.4%22.0%12.4%-74.3%
Other Income 16177111711453
Interest 31215966934
Depreciation 18161515141515151515
Exceptional Items -39-44-2-600-7561-2
Profit Before Tax -74-52-9795-29-156914-32
Tax 001000-19204-8
Profit After Tax -74-52-10795-2944910-24
PAT Margin (%) -24.4%-14.7%-3.5%26.6%2.6%-42.2%2.1%32.2%4.5%-137.0%
Adjusted EPS (₹)-33.8-23.8-4.535.81.8-10.01.315.92.6-6.1
Dividend Payout Ratio (%)0%0%0%0%0%0%0%0%0%0%

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23

Equity and Liabilities

Shareholders Fund -142-195-20558101124124174192191
Share Capital 22222222272931313739
Reserves -164-217-22736749594143155152
Minority Interest0000000000
Debt38938235284817668262527
Long Term Debt172171252515635401340
Short Term Debt21821210033254128132127
Trade Payables22824715839618156402322
Others Liabilities 1551531481361277163454627
Total Liabilities 629587453317369352311284286267

Fixed Assets

Gross Block403358358294328326309309310311
Accumulated Depreciation817892122440557085101
Net Fixed Assets322280266283304287254239225210
CWIP 12000010006
Investments 0000000000
Inventories3853214183412182214
Trade Receivables17515872121101820272
Cash Equivalents 3113001240
Others Assets809594262620266836
Total Assets 629587453317369352311284286267

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Cash Flow From Operating Activity -56-1330142105136-3-8
PBT -74-52-9795-29-156914-29
Adjustment 5218163313823-331520
Changes in Working Capital -2-142531-426-7-0-321
Tax Paid 00-10-3-11000
Cash Flow From Investing Activity -14-1028-16130-1-6
Capex -3-13021-61110-1-6
Net Investments 0000000000
Others -111207552000
Cash Flow From Financing Activity 6313-30-168-12-11-14-35610
Net Proceeds from Shares 00000000023
Net Proceeds from Borrowing -12481-910-25-8-7-5
Interest Paid 000-9-3-6-6-11-1-3
Dividend Paid 0000000000
Others 769-111-67-8-3-12-1515-5
Net Cash Flow -7-1-12-30012-4
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Ratios
ROE (%)N/AN/AN/A06.03-25.793.3133.115.29-12.37
ROCE (%)N/AN/AN/A44.738.34-11.93-4.4938.177.75-12.39
Asset Turnover Ratio0.530.580.540.770.530.190.590.520.750.06
PAT to CFO Conversion(x)N/AN/AN/A1.82N/A0.250.73-0.3N/A
Working Capital Days
Receivable Days148171150452383264540305
Inventory Days4647481522139433534382
Payable Days24028432416414045416418978902

Websol Energy System Ltd Stock News

Websol Energy System Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of Websol Energy System on 28-Mar-2024 16:01 is ₹487.4.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 28-Mar-2024 16:01 the market cap of Websol Energy System stood at ₹2,057.1.
The latest P/E ratio of Websol Energy System as of 28-Mar-2024 16:01 is 0.00.
The latest P/B ratio of Websol Energy System as of 28-Mar-2024 16:01 is 12.11.
The 52-week high of Websol Energy System is ₹487.4 and the 52-week low is ₹62.30.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Websol Energy System is ₹14.17 ( Cr.) .

About Websol Energy System Ltd

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.

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