Inox Wind Energy Ltd

Inox Wind Energy Ltd

₹ 10,387 -1.30%
21 Nov - close price
About

Inox Wind Energy Ltd is engaged in generation and sale of wind energy, provide services for Erection, procurement and commissioning (EPC) of wind farms and holding strategic business interest in renewables.[1]

Key Points

Formation
The company was formed by the way of a composite scheme of arrangement between GFL Ltd., Inox Renewables Ltd and Inox Wind Energy Ltd.
Part A: GFL's wholly owned subsidiary, Inox Renewables was amalgamated w.e.f. April 2020.

  • Market Cap 12,534 Cr.
  • Current Price 10,387
  • High / Low 14,000 / 3,339
  • Stock P/E 219
  • Book Value 2,470
  • Dividend Yield 0.00 %
  • ROCE 4.16 %
  • ROE -4.69 %
  • Face Value 10.0

Pros

  • Company has reduced debt.
  • Company is expected to give good quarter

Cons

  • Stock is trading at 4.20 times its book value
  • Company has a low return on equity of -18.0% over last 3 years.
  • Company has high debtors of 238 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.

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

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
163 153 138 211 108 227 186 350 371 504 528 640 733
175 190 421 256 131 412 218 321 344 391 429 505 567
Operating Profit -12 -37 -282 -45 -23 -185 -32 29 27 113 99 135 166
OPM % -7% -24% -204% -21% -22% -81% -17% 8% 7% 22% 19% 21% 23%
112 34 45 20 1 8 -1 5 17 3 23 18 11
Interest 73 66 84 83 91 92 63 69 62 60 55 56 44
Depreciation 23 27 21 26 25 26 23 29 27 29 30 42 45
Profit before tax 4 -96 -342 -134 -138 -294 -118 -65 -46 27 37 55 88
Tax % -666% -30% -26% -3% -3% -2% -4% 2% 25% 124% -2% 24% 4%
33 -67 -253 -130 -134 -288 -113 -66 -57 -7 38 42 84
EPS in Rs 58.54 -32.41 -115.22 -61.72 -64.43 -136.21 -65.57 -32.80 -34.82 -6.52 15.83 8.54 21.30
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2021 Mar 2022 Mar 2023 Mar 2024 TTM
716 595 730 1,746 2,405
954 964 1,029 1,484 1,892
Operating Profit -237 -369 -299 262 513
OPM % -33% -62% -41% 15% 21%
99 63 37 46 55
Interest 240 272 327 240 214
Depreciation 93 91 97 113 147
Profit before tax -472 -670 -687 -45 207
Tax % -30% -26% 3% 104%
-331 -495 -706 -91 157
EPS in Rs -156.80 -257.00 -330.43 -56.04 39.15
Dividend Payout % 0% 0% 0% 0%
Compounded Sales Growth
10 Years: %
5 Years: %
3 Years: 35%
TTM: 112%
Compounded Profit Growth
10 Years: %
5 Years: %
3 Years: 17%
TTM: 119%
Stock Price CAGR
10 Years: %
5 Years: %
3 Years: 135%
1 Year: 210%
Return on Equity
10 Years: %
5 Years: %
3 Years: -18%
Last Year: -5%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2021 Mar 2022 Mar 2023 Mar 2024 Sep 2024
Equity Capital 11 11 11 12 12
Reserves 1,529 1,446 1,027 1,840 2,964
1,306 1,758 2,329 2,078 1,475
2,782 2,943 2,769 2,956 3,998
Total Liabilities 5,628 6,158 6,137 6,886 8,449
1,262 1,397 1,651 1,843 1,975
CWIP 309 188 163 304 300
Investments 33 33 1 0 534
4,024 4,541 4,322 4,739 5,639
Total Assets 5,628 6,158 6,137 6,886 8,449

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2021 Mar 2022 Mar 2023 Mar 2024
-96 -385 -1,103 -367
3 -11 258 486
217 334 800 -129
Net Cash Flow 123 -63 -45 -10

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 534 659 414 238
Inventory Days 1,589
Days Payable 1,558
Cash Conversion Cycle 565 659 414 238
Working Capital Days 368 555 738 355
ROCE % -12% -9% 4%

Shareholding Pattern

Numbers in percentages

Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024
68.72% 68.72% 68.72% 68.73% 68.73% 67.28% 67.26% 69.50% 69.50% 69.50% 69.50% 69.50%
5.78% 5.78% 5.77% 5.37% 5.37% 5.27% 5.22% 4.87% 3.75% 2.64% 3.13% 3.53%
3.12% 3.12% 3.12% 3.12% 2.36% 2.30% 2.20% 2.00% 1.55% 0.81% 0.70% 0.95%
0.45% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
21.93% 22.37% 22.39% 22.79% 23.53% 25.15% 25.32% 23.63% 25.20% 27.03% 26.66% 26.02%
No. of Shareholders 11,70511,47411,33211,30111,21910,59011,30111,80513,58916,27916,78718,101

* 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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