Indowind Energy

₹23.2 0.3 | 1.2%

WEBSITE BSE:532894 NSE : IWIND ENERGY 05 Feb, 16:01

Market Cap ₹299 Cr.

Stock P/E 41.1

P/B 1

Current Price ₹23.2

Book Value ₹ 22.5

Face Value 10

52W High ₹32.7

Dividend Yield 0%

52W Low ₹ 18.4

Edit Ratio

Indowind Energy Research see more...

Overview Inc. Year: 1995Industry: Power Generation/Distribution

Indowind Energy Limited is a public company that develops, operates and manages hybrid energy solutions in India. It was founded in 1995 by K. S. Ravindranath, who is the executive director and CEO. The company has a portfolio of 51 MW of wind power assets across south India and offers wind asset management services, carbon credit consultancy and wind power project development. Their vision is to become the leading company committed to promotion and generation of green power through renewable sources of energy. The company has achieved several milestones, such as being the first Indian company to get carbon credit from UNFCCC, being the first wind energy company to be listed on BSE, and being awarded the Best Innovative Concept Award by Franchise India. The companyâ€™s promoters hold 50.76% of the shareholding, with Soura Capital Private Limited holding 18.21% and Bala Venckat Kutti holding 7.09%.

Indowind Energy Share Price

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Peer Comparison

Indowind Energy Quarterly Results

#(Fig in Cr.)	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
Net Sales	8	15	7	5	8	18	10	4	5	13
Other Income	0	0	0	0	0	0	0	2	0	0
Total Income	8	15	8	5	8	18	10	6	5	13
Total Expenditure	3	6	6	4	2	8	9	5	3	4
Operating Profit	5	8	1	0	6	10	1	1	3	9
Interest	0	0	1	0	1	2	1	0	0	1
Depreciation	2	4	0	0	2	4	0	0	1	5
Exceptional Income / Expenses	0	0	0	-7	-1	0	0	0	0	0
Profit Before Tax	2	4	0	-7	1	4	0	0	1	4
Provision for Tax	0	0	0	18	-0	-1	0	-1	-0	-0
Profit After Tax	2	4	0	-25	2	5	-0	1	2	4
Adjustments	-0	0	0	0	-0	0	0	0	-0	-0
Profit After Adjustments	2	4	0	-25	2	5	0	1	2	4
Adjusted Earnings Per Share	0.2	0.4	0	-2.2	0.1	0.4	0	0.1	0.1	0.3

Indowind Energy Profit & Loss

#(Fig in Cr.)	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	TTM
Net Sales	23	20	17	26	26	22	21	19	25	34	40	32
Other Income	2	5	7	2	7	1	1	2	2	1	2	2
Total Income	25	25	24	28	33	23	21	21	27	35	42	34
Total Expenditure	11	11	9	11	15	16	12	9	18	20	24	21
Operating Profit	15	14	15	17	17	7	9	12	9	15	18	14
Interest	5	6	7	7	8	7	5	2	2	2	4	2
Depreciation	10	8	8	14	9	9	9	9	7	7	7	6
Exceptional Income / Expenses	0	0	-0	0	-24	0	6	0	0	-7	-1	0
Profit Before Tax	0	1	0	-3	-24	-10	0	0	0	-1	6	5
Provision for Tax	0	0	-1	-1	-3	3	0	0	0	18	-2	-1
Profit After Tax	0	0	1	-2	-21	-12	0	0	0	-19	7	7
Adjustments	0	-0	0	0	0	0	0	0	2	-2	-0	0
Profit After Adjustments	0	0	1	-2	-21	-12	0	0	2	-21	7	7
Adjusted Earnings Per Share	0	0	0.1	-0.2	-2.1	-1.2	0	0	0.2	-1.9	0.6	0.5

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	18%	28%	13%	6%
Operating Profit CAGR	20%	14%	21%	2%
PAT CAGR	0%	0%	0%	0%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	-22%	2%	55%	17%
ROE Average	3%	-2%	-1%	-2%
ROCE Average	3%	1%	1%	1%

Indowind Energy Balance Sheet

#(Fig in Cr.)	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Shareholder's Funds	171	171	173	234	150	138	138	229	230	230	237
Minority's Interest	0	0	0	0	1	1	1	1	1	1	1
Borrowings	75	72	67	100	153	154	150	58	12	8	37
Other Non-Current Liabilities	69	69	66	0	-3	0	0	0	0	18	16
Total Current Liabilities	7	6	11	6	11	10	5	5	45	56	22
Total Liabilities	322	318	317	339	311	302	294	292	288	313	312
Fixed Assets	205	197	240	268	253	257	255	246	166	159	236
Other Non-Current Assets	105	106	62	54	43	27	29	29	105	101	59
Total Current Assets	12	15	15	18	15	18	11	17	17	53	17
Total Assets	322	318	317	339	311	302	294	292	288	313	312

Indowind Energy Cash Flow

#(Fig in Cr.)	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Opening Cash & Cash Equivalents	2	1	1	1	2	1	0	2	4	2	22
Cash Flow from Operating Activities	19	2	2	8	7	5	10	6	1	0	-8
Cash Flow from Investing Activities	-12	6	6	-7	10	2	1	1	3	5	43
Cash Flow from Financing Activities	-8	-9	-9	-1	-18	-7	-9	-5	-6	15	-56
Net Cash Inflow / Outflow	-1	-0	-0	1	-1	-0	1	2	-2	20	-21
Closing Cash & Cash Equivalent	1	1	5	2	1	0	2	4	2	22	0

Indowind Energy Ratios

#	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Earnings Per Share (Rs)	0.01	0.02	0.08	-0.2	-2.07	-1.21	0.01	0.02	0.17	-1.88	0.63
CEPS(Rs)	0.96	0.77	0.82	1.15	-1.13	-0.29	0.92	0.94	0.7	-1.09	1.27
DPS(Rs)	0	0	0	0	0	0	0	0	0	0	0
Book NAV/Share(Rs)	16.77	16.78	17.06	23.05	14.78	13.57	13.57	22.55	22.56	20.21	20.83
Core EBITDA Margin(%)	54.04	45.28	43.85	55.85	40.92	27.98	40.37	51.44	26.57	41.19	39.92
EBIT Margin(%)	21.49	33.29	41.32	12.4	-61.1	-11.83	25.94	12.44	8.33	3.05	24.77
Pre Tax Margin(%)	1.33	2.54	1.1	-13.38	-90.41	-43.69	0.33	1.4	0.62	-3.42	14
PAT Margin (%)	0.45	1.14	4.33	-7.63	-80.23	-55.8	0.27	1.18	0.52	-56.72	18.31
Cash Profit Margin (%)	41.36	38.75	49.08	44.91	-43.91	-13.39	45.33	51.27	28.69	-36.14	36.2
ROA(%)	0.03	0.07	0.23	-0.61	-6.45	-4	0.02	0.07	0.04	-6.41	2.32
ROE(%)	0.06	0.13	0.43	-0.98	-10.95	-8.53	0.04	0.12	0.06	-8.42	3.13
ROCE(%)	1.88	2.69	2.83	1.11	-4.93	-0.85	1.81	0.8	0.71	0.36	3.4
Receivable days	34.81	65.35	109.68	77.4	86.44	98.11	92.57	96.24	97.93	87.42	76.33
Inventory Days	64.83	69.63	75.46	32.86	10.96	7.36	9.43	55.93	73.46	48.07	38.37
Payable days	-2174.82	0	619.73	-251.26	299.06	-569.89	1293.18	-177.99	829.37	1795.14	1022.85
PER(x)	295.76	169.84	43.93	0	0	0	273.02	155.72	88.01	0	29.69
Price/Book(x)	0.18	0.23	0.2	0.16	0.44	0.36	0.11	0.15	0.67	0.44	0.9
Dividend Yield(%)	0	0	0	0	0	0	0	0	0	0	0
EV/Net Sales(x)	4.5	5.5	6.1	5.06	8.43	9.41	7.94	4.8	8.47	4.06	6.7
EV/Core EBITDA(x)	7.21	7.76	7	7.79	12.66	30.75	18.17	7.67	23.22	9.25	14.8
Net Sales Growth(%)	0.12	-14.33	-15.83	54.19	0.52	-16	-5.98	-9.91	31.96	38.28	16.93
EBIT Growth(%)	-30.25	32.74	4.47	-53.72	-595.14	83.74	306.17	-56.81	-11.64	-49.28	848.26
PAT Growth(%)	-96.73	114.66	219.99	-372.07	-956.56	41.58	100.46	290.37	-41.83	0	137.74
EPS Growth(%)	-96.74	113.56	239.68	-358.54	-956.56	41.58	100.46	287.36	697.08	-1194.32	133.42
Debt/Equity(x)	0.47	0.45	0.43	0.44	1.08	1.19	1.11	0.27	0.25	0.26	0.23
Current Ratio(x)	1.65	2.39	1.35	3.19	1.45	1.88	2.05	3.66	0.37	0.94	0.8
Quick Ratio(x)	1.12	1.8	1.05	2.93	1.43	1.8	1.99	2.51	0.27	0.86	0.62
Interest Cover(x)	1.07	1.08	1.03	0.48	-2.08	-0.37	1.01	1.13	1.08	0.47	2.3
Total Debt/Mcap(x)	2.53	2	2.19	2.77	2.46	3.26	9.91	1.78	0.36	0.6	0.26

Indowind Energy Shareholding Pattern

#	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024
Promoter	44.76	44.76	47.04	47.04	50.76	50.76	50.76	50.76	47.16	47.16
FII	0	0	0	0	0.02	0	0	0.24	0.01	0.03
DII	4.46	4.46	3.73	3.73	0	0	0	0	0	0
Public	50.78	50.78	49.24	49.24	49.22	49.24	49.24	49	52.83	52.81
Others	0	0	0	0	0	0	0	0	0	0
Total	100	100	100	100	100	100	100	100	100	100

#	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024
Promoter	4.02	4.02	5.05	5.05	5.45	5.45	5.45	5.45	6.07	6.07
FII	0	0	0	0	0	0	0	0.03	0	0
DII	0.4	0.4	0.4	0.4	0	0	0	0	0	0
Public	4.56	4.56	5.28	5.28	5.28	5.28	5.28	5.26	6.8	6.8
Others	0	0	0	0	0	0	0	0	0	0
Total	8.97	8.97	10.73	10.73	10.73	10.73	10.73	10.73	12.88	12.88

Pros

Debtor days have improved from 1795.14 to 1022.85days.
Company is almost debt free.

Cons

Promoter holding is low: 47.16%.
Company has a low return on equity of -2% over the last 3 years.

* 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.