Chennai-based energy-solutions company Swelect Energy Systems reported nearly 90 per cent drop in consolidated net profit at ₹1.9 crore for the quarter ended September 2026, against ₹15.9 crore it posted in the same quarter last year.
Revenue from operations declined to ₹126 crore from ₹139 crore in the year-ago period.
“At the consolidated level, financial performance has been impacted this fiscal by low utilisation of the module manufacturing lines. However, through its EPC and IPP contracts, the company has built a module order pipeline of 750 MW and expects utilisation levels to improve from Q4 2027,” a statement from the company said.
In FY27, Swelect has signed additional Power Purchase Agreements (PPAs) for 200 MW, while nearly 217 MW of new IPP projects are at various stages of construction.
In the September quarter, the company launched its SWEES brand of hybrid inverters with BESS and also completed a 10 MWh behind-the-meter (BTM) BESS installation at its manufacturing facility.
“The Company’s standalone financial performance continues to remain strong, with profitability levels being maintained. During the quarter, the Company secured two large EPC orders of 200 MW each in Maharashtra and Rajasthan, with a combined order value of approximately ₹1,400 crore. Land handover for both projects is expected this quarter, with execution planned to be completed within 12 months of handover,” the statement added.
Published on November 14, 2026
