Swelect Energy Share Price Rises 5% Post Securing 150 MW Orders

Market Performance

Swelect Energy Systems' share price experienced a 5% increase during early trading on Thursday following an update regarding a new order in its solar business and the announcement of fund-raising through debt. The stock hit the 5% upper circuit limit, reaching a price of ₹546.60 per share on the BSE.

The company's stock has risen by 10% in the past week. However, on a month-over-month basis, it has declined by 19%. Year-to-date (YTD) figures indicate a 46% decline, while the stock has seen a 57% drop over the last six months. Over two years, Swelect Energy shares have shown a 92% increase.

Business Update

Swelect Energy Systems has announced securing orders totaling over 150 MW for its high-efficiency TOPCon Bi-facial solar PV modules. The company highlighted its 100% success rate in module testing, with all units successfully passing evaluations conducted by TÜV and other accredited testing laboratories. Additionally, these modules are undergoing Extended Reliability Testing (ERT) to assess long-term performance and durability.

Financial Developments

Swelect Energy Systems has raised ₹290 crore through Non-Convertible Debentures (NCDs) via a private placement with India Infradebt Limited. This funding is secured against a portion of the company's Solar Power Generating Assets and has unlocked ₹260 crore in cash collaterals. The company plans to reinvest these funds to expand its Independent Power Producer (IPP) portfolio to 1 GW by 2026-27.

Financial Data

• Funding Raised: ₹290 crore through NCDs
• Cash Collateral Unlocked: ₹260 crore

Stock Performance Overview

As of 10:15 AM, Swelect Energy shares were trading at ₹535.55 per share on the BSE, reflecting a 2.87% increase.

Summary

Swelect Energy Systems' stock saw an early trading surge following its latest business developments, including securing a substantial solar module order and raising funds through NCDs. The company's focus on expanding its IPP portfolio and maintaining high testing standards underscores its commitment to the renewable energy sector. Despite recent stock fluctuations, the company's long-term trajectory remains focused on growth and sustainability.