Inox Green Energy Services Ltd
Incorporated in 2012, Inox Green Energy Services Limited is one of the major wind power operation and maintenance ("O&M") service providers within India. The company is a subsidiary of Inox Wind Limited ("IWL"), and part of the Inox GFL group of companies.[1]
- Market Cap ₹ 4,105 Cr.
- Current Price ₹ 140
- High / Low ₹ 158 / 44.2
- Stock P/E 138
- Book Value ₹ 45.8
- Dividend Yield 0.00 %
- ROCE 3.62 %
- ROE 2.41 %
- Face Value ₹ 10.0
Pros
- Company has reduced debt.
- Company has delivered good profit growth of 20.8% CAGR over last 5 years
Cons
- Stock is trading at 3.05 times its book value
- The company has delivered a poor sales growth of 6.41% over past five years.
- Company has a low return on equity of -3.85% over last 3 years.
- Earnings include an other income of Rs.34.8 Cr.
- Company has high debtors of 213 days.
- Working capital days have increased from 353 days to 666 days
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Sector: Infrastructure Developers & Operators Industry: Engineering - Turnkey Services
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
---|---|---|---|---|---|---|---|
368 | 164 | 165 | 172 | 172 | 254 | 224 | |
352 | 82 | 77 | 109 | 90 | 197 | 149 | |
Operating Profit | 15 | 82 | 88 | 63 | 82 | 57 | 75 |
OPM % | 4% | 50% | 53% | 37% | 48% | 23% | 33% |
-14 | -68 | -47 | -112 | -70 | 40 | 35 | |
Interest | 65 | 30 | 53 | 61 | 55 | 71 | 25 |
Depreciation | 17 | 27 | 40 | 49 | 50 | 65 | 53 |
Profit before tax | -80 | -43 | -51 | -158 | -93 | -39 | 31 |
Tax % | 29% | -23% | -2% | 3% | -0% | 48% | 12% |
-57 | -53 | -52 | -154 | -93 | -20 | 28 | |
EPS in Rs | -11,328.00 | -9.13 | -4.52 | -11.94 | -3.97 | -0.66 | 0.95 |
Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
Compounded Sales Growth | |
---|---|
10 Years: | % |
5 Years: | 6% |
3 Years: | 9% |
TTM: | -12% |
Compounded Profit Growth | |
---|---|
10 Years: | % |
5 Years: | 21% |
3 Years: | 30% |
TTM: | 181% |
Stock Price CAGR | |
---|---|
10 Years: | % |
5 Years: | % |
3 Years: | % |
1 Year: | 194% |
Return on Equity | |
---|---|
10 Years: | % |
5 Years: | -11% |
3 Years: | -4% |
Last Year: | 2% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
---|---|---|---|---|---|---|---|
Equity Capital | 0 | 57 | 116 | 129 | 235 | 292 | 294 |
Reserves | 2 | -8 | -20 | -86 | 572 | 835 | 1,051 |
956 | 1,154 | 1,085 | 1,411 | 904 | 595 | 174 | |
551 | 698 | 1,158 | 1,239 | 410 | 433 | 564 | |
Total Liabilities | 1,509 | 1,902 | 2,340 | 2,693 | 2,121 | 2,155 | 2,083 |
500 | 512 | 776 | 765 | 953 | 1,095 | 755 | |
CWIP | 10 | 59 | 26 | 251 | 133 | 7 | 7 |
Investments | 0 | 71 | 72 | 33 | 33 | 0 | 0 |
999 | 1,260 | 1,465 | 1,645 | 1,002 | 1,052 | 1,320 | |
Total Assets | 1,509 | 1,902 | 2,340 | 2,693 | 2,121 | 2,155 | 2,083 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
---|---|---|---|---|---|---|---|
65 | -41 | 362 | 49 | 141 | -26 | -8 | |
-168 | -170 | -306 | -105 | -153 | -5 | -63 | |
82 | 195 | -52 | 174 | -63 | -10 | 79 | |
Net Cash Flow | -21 | -17 | 3 | 117 | -76 | -42 | 8 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
---|---|---|---|---|---|---|---|
Debtor Days | 242 | 410 | 552 | 473 | 144 | 133 | 213 |
Inventory Days | 1,891 | 540 | 215 | ||||
Days Payable | 2,200 | 2,029 | 758 | ||||
Cash Conversion Cycle | -67 | 410 | 552 | 473 | -1,344 | -409 | 213 |
Working Capital Days | -55 | 610 | -404 | -549 | 135 | 257 | 666 |
ROCE % | 5% | 4% | 2% | 3% | 1% |
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Earnings Call Transcript
9 May - Transcripts of Conference Call held with Investors/Analysts on 3rd May, 2024
- Shareholder Meeting / Postal Ballot-Scrutinizer"s Report 6 May
- Shareholder Meeting / Postal Ballot-Outcome of Postal_Ballot 6 May
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
4 May - Audio recording of Conference Call with Investors/Analyst on 03rd May, 2024
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Announcement under Regulation 30 (LODR)-Change in Management
3 May - Re-appointment of Shri Mukesh Manglik as a Whole-time Director of the Company for further period of one year w.e.f. 19th May, 2024
Concalls
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May 2024TranscriptNotesPPTREC
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May 2024TranscriptNotesPPT REC
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Feb 2024Transcript PPT
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Nov 2023Transcript PPT
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Oct 2023TranscriptNotesPPT
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Jul 2023Transcript PPT
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Jul 2023TranscriptNotesPPT
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Jul 2023TranscriptNotesPPT
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May 2023Transcript PPT
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May 2023TranscriptNotesPPT
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Feb 2023Transcript PPT
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Dec 2022TranscriptNotesPPT
Business Area[1]
Company provides comprehensive O&M solutions for WTG and common infrastructure O&M through long-term contracts of 5-20 years. It has presence across India with an established track record of >10 years and portfolio of >3.2 GW of O&M assets plus additional value added services contracts. Company has a machine availability at > 97% in Q4 FY24. It also targets to reach 6 GW portfolio by FY26.