Indowind Energy Ltd

₹ 20.3 -4.07%

21 Nov - close price

About

Incorporated in 1995, Indowind Energy Ltd is in the business of generation and distribution of power through windmills^[1]

Key Points

Business Overview:^[1]
IWEL is an IPP in the renewable energy field. It develops wind farms, manages wind assets, and generates Green Power for sale to utilities and corporates. Company has expertise in building Wind Power Projects, Wind Asset Management Solution for installed assets, including operations, billing, collection of revenue to project customers, Supply of Green Power to customers, Carbon Credit Sales and Trading

Website BSE NSE

Market Cap ₹ 261 Cr.
Current Price ₹ 20.3
High / Low ₹ 32.7 / 15.9
Stock P/E 54.7
Book Value ₹ 22.3
Dividend Yield 0.00 %
ROCE 3.18 %
ROE 2.71 %
Face Value ₹ 10.0

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Pros

Company has reduced debt.
Company is almost debt free.
Stock is trading at 0.91 times its book value
Debtor days have improved from 134 to 106 days.
Company's working capital requirements have reduced from 254 days to 144 days

Cons

Promoter holding has decreased over last quarter: -3.60%
Tax rate seems low
Company has a low return on equity of 1.75% over last 3 years.
Company's cost of borrowing seems high

* 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: Power Generation & Distribution Industry: Power Generation And Supply

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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
	8.56	3.35	2.13	6.96	12.32	5.18	3.70	4.87	13.97	7.12	3.00	2.87	10.08
	3.29	2.59	4.74	2.63	4.07	4.14	3.36	-0.01	3.81	7.27	3.43	0.22	1.65
Operating Profit	5.27	0.76	-2.61	4.33	8.25	1.04	0.34	4.88	10.16	-0.15	-0.43	2.65	8.43
OPM %	61.57%	22.69%	-122.54%	62.21%	66.96%	20.08%	9.19%	100.21%	72.73%	-2.11%	-14.33%	92.33%	83.63%
	0.04	0.01	2.35	0.10	0.10	0.47	-6.62	-1.01	0.05	0.02	1.09	0.02	0.11
Interest	0.52	0.35	0.54	0.42	0.43	0.92	0.43	1.16	1.79	0.64	0.36	0.43	0.56
Depreciation	4.34	0.41	0.20	2.48	4.11	0.37	0.03	2.03	4.40	0.27	0.29	1.02	4.48
Profit before tax	0.45	0.01	-1.00	1.53	3.81	0.22	-6.74	0.68	4.02	-1.04	0.01	1.22	3.50
Tax %	0.00%	0.00%	2.00%	0.00%	0.00%	0.00%	268.55%	-47.06%	-23.13%	13.46%	-6,000.00%	-19.67%	-10.86%
	0.46	0.00	-1.03	1.53	3.81	0.23	-24.83	1.00	4.95	-1.18	0.62	1.46	3.88
EPS in Rs	0.03	0.00	-0.07	0.10	0.25	0.02	-1.93	0.08	0.38	-0.09	0.05	0.11	0.30
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	TTM
	21.94	21.99	18.99	15.60	23.94	24.24	20.56	18.92	15.71	17.66	28.15	28.97	23.07
	9.16	9.36	9.92	8.21	9.42	13.54	14.42	10.59	6.14	11.12	14.17	14.50	12.57
Operating Profit	12.78	12.63	9.07	7.39	14.52	10.70	6.14	8.33	9.57	6.54	13.98	14.47	10.50
OPM %	58.25%	57.44%	47.76%	47.37%	60.65%	44.14%	29.86%	44.03%	60.92%	37.03%	49.66%	49.95%	45.51%
	2.45	1.96	5.14	7.13	2.37	-17.19	0.57	6.33	2.06	2.42	-5.96	0.15	1.24
Interest	3.92	4.72	6.17	6.79	6.71	7.67	7.00	5.29	2.05	1.89	2.20	3.95	1.99
Depreciation	8.06	9.57	7.54	7.55	13.67	9.50	9.32	9.31	9.32	6.92	6.99	6.99	6.06
Profit before tax	3.25	0.30	0.50	0.18	-3.49	-23.66	-9.61	0.06	0.26	0.15	-1.17	3.68	3.69
Tax %	0.62%	66.67%	56.00%	-305.56%	-42.69%	-11.24%	27.68%	16.67%	15.38%	13.33%	1,547.01%	-46.47%
	3.23	0.10	0.22	0.73	-1.99	-21.01	-12.26	0.05	0.22	0.12	-19.27	5.38	4.78
EPS in Rs	0.21	0.01	0.01	0.05	-0.13	-1.39	-0.81	0.00	0.01	0.01	-1.50	0.42	0.37
Dividend Payout %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Compounded Sales Growth
10 Years:	3%
5 Years:	7%
3 Years:	23%
TTM:	-17%

Compounded Profit Growth
10 Years:	51%
5 Years:	20%
3 Years:	205%
TTM:	117%

Stock Price CAGR
10 Years:	19%
5 Years:	52%
3 Years:	13%
1 Year:	26%

Return on Equity
10 Years:	0%
5 Years:	1%
3 Years:	2%
Last Year:	3%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
Equity Capital	89.74	89.74	89.74	89.74	89.74	89.74	89.74	89.74	89.74	89.74	107.33	107.33	128.80
Reserves	115.62	80.77	80.89	83.15	143.12	122.12	109.85	110.58	138.78	140.52	120.91	126.45	158.79
	82.51	79.19	76.66	73.89	100.00	99.56	101.19	90.80	60.71	56.06	60.06	24.60	19.28
	97.08	71.94	70.07	69.94	5.42	1.22	0.77	2.74	1.53	1.00	21.78	18.29	17.48
Total Liabilities	384.95	321.64	317.36	316.72	338.28	312.64	301.55	293.86	290.76	287.32	310.08	276.67	324.35
	148.40	156.90	150.79	194.12	222.85	193.19	183.45	174.90	239.81	160.56	153.70	147.17	141.62
CWIP	0.00	47.18	46.35	64.03	47.78	60.96	73.13	74.64	0.96	0.96	0.96	0.96	0.96
Investments	4.51	4.56	6.96	9.21	10.76	11.10	11.10	11.05	11.14	1.72	0.72	9.70	9.70
	232.04	113.00	113.26	49.36	56.89	47.39	33.87	33.27	38.85	124.08	154.70	118.84	172.07
Total Assets	384.95	321.64	317.36	316.72	338.28	312.64	301.55	293.86	290.76	287.32	310.08	276.67	324.35

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	10.77	18.82	1.89	28.17	8.06	7.51	5.32	14.41	14.51	1.22	-1.16	-6.28
	-3.72	-11.50	6.44	-16.97	-6.89	9.81	1.82	-3.59	-7.73	2.63	6.59	-10.49
	-5.95	-8.03	-8.58	-7.07	-0.63	-18.23	-7.35	-9.29	-4.85	-6.46	15.07	-4.58
Net Cash Flow	1.10	-0.71	-0.25	4.12	0.53	-0.92	-0.21	1.52	1.92	-2.61	20.49	-21.34

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Debtor Days	99.32	17.59	83.42	94.99	153.23	99.23	89.12	76.20	158.69	188.49	107.23	106.34
Inventory Days						39.61						369.45
Days Payable						294.26						313.81
Cash Conversion Cycle	99.32	17.59	83.42	94.99	153.23	-155.42	89.12	76.20	158.69	188.49	107.23	161.98
Working Capital Days	156.88	-27.06	51.32	-37.20	97.73	-47.43	-65.51	-5.02	214.45	282.95	334.79	144.39
ROCE %	2.03%	1.87%	2.68%	2.89%	0.96%	2.46%	-0.85%	-0.10%	0.80%	0.72%	2.75%	3.18%

Shareholding Pattern

Numbers in percentages

1 Recently

	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
	45.87%	45.87%	45.87%	44.76%	44.76%	47.03%	47.03%	50.76%	50.76%	50.76%	50.76%	47.17%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.02%	0.00%	0.00%	0.24%	0.01%
	4.46%	4.46%	4.46%	4.46%	4.46%	3.73%	3.73%	0.00%	0.00%	0.00%	0.00%	0.00%
	49.68%	49.68%	49.68%	50.78%	50.78%	49.24%	49.24%	49.21%	49.24%	49.24%	49.00%	52.84%
No. of Shareholders	54,434	65,311	68,738	70,036	65,396	65,983	65,983	68,059	71,635	79,558	86,417	1,02,185

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
	46.11%	48.92%	50.05%	50.32%	47.93%	45.87%	47.03%	50.76%	47.17%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.01%
	0.25%	0.26%	0.25%	0.00%	0.00%	4.46%	3.73%	0.00%	0.00%
	53.64%	50.83%	49.70%	49.67%	52.07%	49.68%	49.24%	49.24%	52.84%
No. of Shareholders	34,715	32,949	31,313	30,347	30,753	65,311	65,983	79,558	1,02,185

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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Indowind Energy Ltd

Indowind Energy Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Shareholding Pattern

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