### **Overview** Swelect Energy Systems Ltd is a pioneering Indian renewable energy company with over **41 years of legacy** in power electronics and sustainable energy solutions. Originally established in 1984 as **Numeric Power Systems Limited** — India's leading UPS brand — the company rebranded to *Swelect Energy Systems* in 2012, marking a strategic shift from "Power to Energy" and a full-scale transition into the solar and renewable energy sector. Headquartered in Tamil Nadu, Swelect is today a **globally recognized, Bloomberg Tier 1-certified solar module manufacturer**, offering integrated solar solutions across manufacturing, EPC (Engineering, Procurement, and Construction), IPP (Independent Power Producer), and emerging energy storage segments. --- ### **Leadership & Strategic Vision** #### **Dr. Arulkumar Shanmugasundaram – CEO & Managing Director (Appointed Sep 2025)** - Brings **30+ years of global experience** in technology, manufacturing, and renewable energy. - Former Executive Director (Operations) at Ayana Renewable Power, where he oversaw the development of a **5 GW renewable portfolio** prior to its $2.3 billion acquisition by NTPC Green and ONGC Green. - Ex-COO of Tata Power Solar Systems; instrumental in transforming it into a leading EPC provider. - Ph.D. and Master’s from **Cornell University**, alumnus of IIT Madras — blends deep technical insight with industry leadership. #### **Mr. R. Chellappan – Managing Director** - Co-founder with **36+ years of experience** in power electronics. - Played a foundational role in shaping the company’s evolution from UPS systems to renewable energy. #### **Ms. V. C. Mirunalini** - Pioneered Swelect’s Solar Product Division (2008) and EPC/Projects Division (2011). - Key figure in securing project financing and achieving **Bloomberg Tier 1 status**. - Actively involved in forex risk management and strategic partnerships. #### **Mr. Srinivasu Mullapudi – Senior Procurement & Supply Chain Leader (Nov 2025)** - Over **15 years of expertise** in solar procurement and end-to-end supply chain management. - Led sourcing for multi-GW solar projects; managed procurement budgets exceeding **₹3,000 crore annually**. - Implemented digital tools like **SAP MM, ARIBA, and Documentum** to enhance transparency and efficiency. - Certified Emerging Leader from XLRI and IMS-certified internal auditor. --- ### **Core Business Segments** Swelect operates under a unified segment: **"Solar and Other Related Activities"**, focusing on vertical integration across the renewable energy value chain. #### **1. Manufacturing** - **SWELECT HHV Solar Photovoltaics Pvt Ltd (SHPV)**: Wholly-owned subsidiary operating a **1 GW fully automated solar PV module plant in Coimbatore** (commissioned in Mar 2023) in a Class 100,000 cleanroom environment. - Produces **Mono PERC, TOPCon (N-Type), bifacial, and monofacial modules** (365Wp–630Wp). - ALMM-approved DCR and non-DCR modules; certified under **IEC, UL, CAN, BIS, and ROHS**. - **Expansion Roadmap**: - Scale module capacity to **2 GW by FY 2025–26**. - Develop **1.2 GW solar cell manufacturing facility** by FY 2026–27 (backward integration). - **In-House Production of**: - Module Mounting Structures (MMS) - Electrical Balance of Systems (BoS): DCDBs, ACDBs, SCBs, junction boxes - Servo stabilizers (air and oil-cooled) at U3S facility near Salem - 100kW (C&I) and 250kW (utility) string inverters validated #### **2. EPC Services** - Offers **turnkey EPC solutions** for utility-scale, rooftop, and hybrid solar projects. - Focus on **Commercial & Industrial (C&I)** clients, SECI/state tenders, and hybrid systems with BESS. - Differentiated by: - Rapid execution - In-house digital monitoring platforms - Strong O&M support - Over **150+ channel partners** across India, including in Tier 2/3 cities - Notable Project: 9.5 MW solar plant for a dairy company near Erode, **awarded “Best Solar Project of the Year”**. #### **3. Independent Power Producer (IPP)** - Operational IPP capacity: **300 MW** (as of Jul 2025), comprising projects from **0.15 kW rooftop to 50 MW ground-mounted**. - Generates revenue through **captive consumption and third-party sales** under open access and RESCO models. - Recent Commissioning: - **3 MW plant in Dindigul, TN** (Mar 2025), increasing SWELECT Clean Energy Pvt Ltd’s capacity to **22 MW**. - Strategic MoU with **TANGEDCO** to develop a **300 MW solar plant** by 2027 (investment: ₹1,650 crores). - Future Focus: - Expand in TN and neighboring states. - Develop **Round-the-Clock (RTC) hybrid power plants** using **solar + wind + BESS**. #### **4. Battery Energy Storage Systems (BESS) – New Growth Vertical** - Launched BESS offerings to support **net-zero transitions** and **grid stability**. - Developing hybrid projects integrating solar, wind, and storage. - Proposed **500kW wind-solar hybrid project with BESS** submitted for TANGEDCO approval. --- ### **Financial & Operational Highlights (FY 2024–2025)** | Metric | FY 2025 | FY 2024 | Change | |-------|--------|--------|--------| | **Solar Power Generating Systems Revenue** | ₹26,510.37 lakh | ₹8,421.40 lakh | +215% ↑ | | **Solar PV Panels Revenue** | ₹22,260.37 lakh | ₹4,977.23 lakh | +346% ↑ | | **Solar Power Revenue** | ₹10,189.92 lakh | ₹9,055.15 lakh | +12.6% ↑ | | **Traded Goods Revenue** | ₹1,803.94 lakh | ₹312.57 lakh | +477% ↑ | | **Total Consolidated Revenue** | ₹61,253.16 lakh | ₹23,201.53 lakh | +164% ↑ | - Solar power sales accounted for **16.6%** of total revenue (₹1,029.93 crore), growing **12.2% YoY**. --- ### **Subsidiaries & Global Presence** Swelect owns **10 subsidiaries**, enabling global reach and operational specialization: - **SWELECT HHV Solar Photovoltaics Pvt Ltd (India)** – 1+ GW solar module manufacturing - **SWELECT Energy Systems Pte. Ltd (Singapore)** – International brand holding & exports - **SWELECT Inc (USA)** – Market access in North America - **AMEX Alloys Pvt Ltd (Coimbatore)** – ISO 9001:2015-certified foundry producing steel, iron, and investment castings for Oil & Gas, Marine, Infrastructure, etc. Exported to USA, Germany, Italy, and more. - Other subsidiaries focused on green energy projects and EPC services. --- ### **Market Position & Competitive Edge** - **Bloomberg Tier 1 Module Manufacturer** (all quarters, globally recognized) - Strong financial base, high-quality assets, and **established customer trust** - Fully **vertically integrated player**: manufacturing, project development, EPC, IPP, O&M - **In-house digital monitoring platforms** and automated production lines (IoT-driven) - Deep expertise in **ALMM-compliant, high-efficiency TOPCon modules** — well-positioned to benefit from India’s domestic content push - Growing channel network with **digital enablement, co-branded marketing, and partner financing** --- ### **Sustainability & Innovation** - Focus on **low-carbon-footprint operations** across supply chain and project lifecycle - Development of **hybrid energy monitoring systems** (up to 10 kW) for carbon savings tracking - First-to-market **bi-directional inverters with grid feed-in capability** - Research in **advanced solar technologies (TOPCon, thin-film)** and energy storage ---