SWELECT Reports First Quarter FY27 Results

The Board of Directors of SWELECT Energy Systems Ltd, formerly known as NUMERIC Power Systems Ltd, a leading player in India’s renewable energy sector, has approved the Standalone and Consolidated Financial Results of the Company for the quarter ended June 30, 2026.

Performance Highlights of Standalone Results

Particulars	Q1 FY 27 (lakhs)	Q1 FY26 (lakhs)	YoY Growth
Total Income	13,085.86	7,643.76	71.2%
Revenue from Operations	11,948.55	6,563.90	82.0%
EBITDA	3,667.45	1,667.22	120.0%
Profit Before Tax (PBT)	2,225.52	504.68	341.0%
Profit After Tax (PAT)	1,867.81	403.81	362.5%

Performance Highlights of Consolidated Results

Particulars	Q1 FY 27 (lakhs)	Q1 FY26 (lakhs)	YoY Growth
Total Income	14,071.59	18,884.29	(25.5%)
Revenue from Operations	13,077.21	17,722.48	(26.2%)
EBITDA	3,836.37	5,333.65	(28.1%)
Profit Before Tax (PBT)	1,039.38	2,784.95	(62.7%)
Profit After Tax (PAT)	765.33	2,113.96	(63.8%)

“We are pleased with our performance during Q1 FY2026–27. With continued disciplined execution and effective cost controls, our standalone financials have delivered healthy operating margins, and we remain confident of maintaining these profitability levels in our operating business through the current fiscal. We are in advanced discussions for two large EPC orders, and if secured, these projects could significantly strengthen our order book and provide greater visibility for future growth.

Our consolidated financial performance has been impacted by the uncertainty surrounding the implementation of ALMM 2 from May 2026 to July 2026, during which customers deferred placing orders. SWELECT has tie-ups for domestic cells for up to 1 GW per year. However, policy uncertainty and the pricing gap between DCR and NDCR modules led to a slowdown in the module market. This situation is now showing signs of correction, with demand picking up. The company has recognised a provision of Rs. 8 crore for contingencies under other expenses in the consolidated financial statement.

During the first quarter, we announced investments in 110 MW of IPP projects and are in the process of completing the acquisition of two solar parks in Rajasthan, which can aggregate to 140 MW. Our projected IPP growth remains on track and is expected to contribute to better utilisation of our module manufacturing capacity.

We are also launching new solar kits focused on enabling effective solar energy harvesting even when the grid is down during the daytime. We believe these products offer significant value to customers and will help us gain traction in the PM Surya Ghar market. The additional subsidy announced by the Tamil Nadu government should also provide further push to the solar market in the state,” said the Management Desk, SWELECT Energy.

Established in 1984 as a UPS and power protection systems leader, SWELECT Energy Systems Limited has emerged as a leading solar power solutions company with a robust presence in the global energy market. SWELECT has three core businesses – IPP Business with Energy Sales to C&I and Govt Customers, Ground Mounted and Rooftop EPC Business, and Channel-driven Product Business (Home and BESS solutions) for Residential and Commercial Customers. The businesses are built on a strong manufacturing base of Solar Photovoltaic (PV) Modules, Module Mounting Structures (MMS), String Combiner Boxes, ACDB, DCDB, etc. With a vertically integrated manufacturing structure, all our businesses offer high-quality MADE IN SWELECT products in line with the Government’s Atmanirbhar Bharat mission.

SWELECT also carries the strong legacy of Numeric, India’s leading UPS solutions brand, under which it built deep expertise in power electronics and battery energy systems for over two decades. In 2012, the company transitioned from Numeric to SWELECT Energy, symbolising its evolution from “Power to Energy” and establishing itself as a trusted leader in the solar energy sector.