Bright Solar Limited manufactures and sells solar pump and solar pumping systems in India. More Details
+ 3 more risks
Excellent balance sheet unattractive dividend payer.
Share Price & News
How has Bright Solar's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: BRIGHT's share price has been volatile over the past 3 months.
7 Day Return
1 Year Return
Return vs Industry: BRIGHT underperformed the Indian Construction industry which returned -31.7% over the past year.
Return vs Market: BRIGHT underperformed the Indian Market which returned -2.2% over the past year.
Price Volatility Vs. Market
How volatile is Bright Solar's share price compared to the market and industry in the last 5 years?
Simply Wall St News
1 month ago | Simply Wall StTwo Days Left Until Bright Solar Limited (NSE:BRIGHT) Trades Ex-Dividend
1 month ago | Simply Wall StDon't Ignore The Fact That This Insider Just Sold Some Shares In Bright Solar Limited (NSE:BRIGHT)
2 months ago | Simply Wall StIs Bright Solar Limited (NSE:BRIGHT) A Smart Pick For Income Investors?
Is Bright Solar undervalued compared to its fair value and its price relative to the market?
Price to Earnings (PE) ratio
Share Price vs. Fair Value
Below Fair Value: BRIGHT (₹6.1) is trading above our estimate of fair value (₹0.83)
Significantly Below Fair Value: BRIGHT is trading above our estimate of fair value.
Price To Earnings Ratio
PE vs Industry: BRIGHT is poor value based on its PE Ratio (24.4x) compared to the IN Construction industry average (11.9x).
PE vs Market: BRIGHT is poor value based on its PE Ratio (24.4x) compared to the Indian market (16.2x).
Price to Earnings Growth Ratio
PEG Ratio: Insufficient data to calculate BRIGHT's PEG Ratio to determine if it is good value.
Price to Book Ratio
PB vs Industry: BRIGHT is good value based on its PB Ratio (0.3x) compared to the IN Construction industry average (0.5x).
How is Bright Solar forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?
Forecasted Capital Goods industry annual growth in earnings
In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Bright Solar has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.
This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.
- Examine Bright Solar's financial health to determine how well-positioned it is against times of financial stress by looking at its level of debt over time and how much cash it has left.
- Bright Solar competitive advantages and company strategy can generally be found in its financial reports archived here.
- Explore growth companies in the Capital Goods industry.
How has Bright Solar performed over the past 5 years?
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: BRIGHT has high quality earnings.
Growing Profit Margin: BRIGHT's current net profit margins (2.2%) are lower than last year (4.1%).
Past Earnings Growth Analysis
Earnings Trend: BRIGHT's earnings have declined by 2.2% per year over the past 5 years.
Accelerating Growth: BRIGHT's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: BRIGHT had negative earnings growth (-77.9%) over the past year, making it difficult to compare to the Construction industry average (-14.8%).
Return on Equity
High ROE: BRIGHT's Return on Equity (1.4%) is considered low.
How is Bright Solar's financial position?
Financial Position Analysis
Short Term Liabilities: BRIGHT's short term assets (₹366.5M) exceed its short term liabilities (₹145.8M).
Long Term Liabilities: BRIGHT's short term assets (₹366.5M) exceed its long term liabilities (₹6.0M).
Debt to Equity History and Analysis
Debt Level: BRIGHT's debt to equity ratio (1.6%) is considered satisfactory.
Reducing Debt: BRIGHT's debt to equity ratio has reduced from 148.2% to 1.6% over the past 5 years.
Debt Coverage: Insufficient data to determine if BRIGHT's debt is well covered by operating cash flow.
Interest Coverage: BRIGHT's interest payments on its debt are well covered by EBIT (11.4x coverage).
What is Bright Solar current dividend yield, its reliability and sustainability?
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: BRIGHT's dividend (1.64%) is higher than the bottom 25% of dividend payers in the Indian market (0.55%).
High Dividend: BRIGHT's dividend (1.64%) is low compared to the top 25% of dividend payers in the Indian market (2.32%).
Stability and Growth of Payments
Stable Dividend: Whilst dividend payments have been stable, BRIGHT has been paying a dividend for less than 10 years.
Growing Dividend: BRIGHT has only been paying a dividend for 2 years, and since then payments have not increased.
Current Payout to Shareholders
Dividend Coverage: With its reasonably low payout ratio (40%), BRIGHT's dividend payments are well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.
How experienced are the management team and are they aligned to shareholders interests?
Average management tenure
Piyushkumar Thumar (39 yo)
Mr. Piyushkumar Babubhai Thumar has been the Chairman and Managing Director of Bright Solar Ltd since January 25, 2018 and has been its Executive & Non Independent Director since April 23, 2010. Mr. Thumar ...
CEO Compensation Analysis
Compensation vs Market: Piyushkumar's total compensation ($USD46.27K) is about average for companies of similar size in the Indian market ($USD54.47K).
Compensation vs Earnings: Piyushkumar's compensation has been consistent with company performance over the past year.
|Chairman & MD||2.75yrs||₹3.45m||66.66% |
|Chief Financial Officer||0.83yr||no data||no data|
|Company Secretary & Compliance Officer||2.58yrs||₹436.00k||no data|
|Head of Service||no data||no data||no data|
|Project Head of Solar Rooftop||0.75yr||no data||no data|
Experienced Management: BRIGHT's management team is not considered experienced ( 1.7 years average tenure), which suggests a new team.
|Chairman & MD||2.75yrs||₹3.45m||66.66% |
|Non-Executive & Non-Independent Director||2.75yrs||₹100.00k||no data|
|Non Executive Independent Director||2.75yrs||₹100.00k||no data|
Experienced Board: BRIGHT's board of directors are not considered experienced ( 2.8 years average tenure), which suggests a new board.
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: BRIGHT insiders have only sold shares in the past 3 months.
Recent Insider Transactions
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Bright Solar Limited's company bio, employee growth, exchange listings and data sources
- Name: Bright Solar Limited
- Ticker: BRIGHT
- Exchange: NSEI
- Founded: 2010
- Industry: Construction and Engineering
- Sector: Capital Goods
- Market Cap: ₹124.440m
- Shares outstanding: 20.40m
- Website: https://www.brightsolar.in
Number of Employees
- Bright Solar Limited
- C-1103,Titanium Square
- Thaltej Cross Road
|Ticker||Exchange||Primary Security||Security Type||Country||Currency||Listed on|
|BRIGHT||NSEI (National Stock Exchange of India)||Yes||Equity Shares||IN||INR||Jul 2018|
Bright Solar Limited manufactures and sells solar pump and solar pumping systems in India. It is involved in assembling DC/AC solar pumps and solar pump systems under the PUMPMAN, BRIGHT SOLAR, and BRIGHT ...
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2020/10/31 12:49|
|End of Day Share Price||2020/10/30 00:00|
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.