Inox Green Energy Services Ltd

Inox Green Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Inox Green Energy Services Ltd

₹ 140 4.99%
18 May - close price
inoxgreen.com BSE: 543667 NSE: INOXGREEN
About

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]

Key Points

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.

Website BSE NSE
  • Market Cap ₹ 4,111 Cr.
  • Current Price ₹ 140
  • High / Low ₹ 158 / 44.2
  • Stock P/E 124
  • Book Value ₹ 47.7
  • Dividend Yield 0.00 %
  • ROCE 4.26 %
  • ROE 2.53 %
  • Face Value ₹ 10.0
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Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Company has delivered good profit growth of 24.6% CAGR over last 5 years

Cons

  • Stock is trading at 2.93 times its book value
  • The company has delivered a poor sales growth of -1.26% over past five years.
  • Company has a low return on equity of -1.09% over last 3 years.
  • Company has high debtors of 225 days.
  • Company's cost of borrowing seems high
  • Working capital days have increased from 429 days to 734 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

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Sep 2020 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
43.95 79.13 42.66 45.90 44.44 61.31 60.59 71.62 54.36 49.71 43.73 54.55 46.10
38.01 56.89 24.08 24.13 35.36 44.11 46.49 74.09 51.79 28.08 28.17 34.30 31.53
Operating Profit 5.94 22.24 18.58 21.77 9.08 17.20 14.10 -2.47 2.57 21.63 15.56 20.25 14.57
OPM % 13.52% 28.11% 43.55% 47.43% 20.43% 28.05% 23.27% -3.45% 4.73% 43.51% 35.58% 37.12% 31.61%
5.55 3.88 2.14 -29.85 6.49 1.90 4.94 21.21 14.88 2.45 10.11 2.01 6.69
Interest 34.07 37.35 11.99 10.19 13.28 15.28 15.28 17.00 7.39 5.77 5.56 4.73 8.78
Depreciation 11.47 10.83 12.23 15.61 10.17 15.09 14.34 14.38 13.72 13.11 13.26 13.21 13.05
Profit before tax -34.05 -22.06 -3.50 -33.88 -7.88 -11.27 -10.58 -12.64 -3.66 5.20 6.85 4.32 -0.57
Tax % 35.18% 33.36% -40.29% 5.11% 32.87% 34.25% 34.59% 34.18% 26.50% 29.23% 17.08% 32.41% -33.33%
-22.07 -14.70 -4.91 -32.15 -5.29 -7.41 -6.92 -8.32 -2.69 3.68 5.68 2.92 -0.76
EPS in Rs -1.90 -0.72 -0.24 -1.37 -0.23 -0.32 -0.29 -0.28 -0.09 0.13 0.19 0.10 -0.03
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2016 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
592 367 215 400 177 174 248 202
593 348 162 294 90 90 198 122
Operating Profit -1 19 53 105 87 84 50 80
OPM % -0% 5% 25% 26% 49% 48% 20% 40%
2 -19 -15 -7 -52 -42 24 13
Interest 37 65 100 147 61 52 55 25
Depreciation 5 17 27 40 49 49 58 53
Profit before tax -41 -82 -89 -88 -75 -59 -38 16
Tax % 30% 29% 36% 35% 4% 4% 34% 27%
-29 -58 -57 -58 -72 -57 -25 12
EPS in Rs -5,806.00 -11,580.00 -9.97 -4.95 -5.59 -2.43 -0.86 0.39
Dividend Payout % 0% 0% 0% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: %
5 Years: -1%
3 Years: 5%
TTM: -19%
Compounded Profit Growth
10 Years: %
5 Years: 25%
3 Years: 34%
TTM: 600%
Stock Price CAGR
10 Years: %
5 Years: %
3 Years: %
1 Year: 194%
Return on Equity
10 Years: %
5 Years: -5%
3 Years: -1%
Last Year: 3%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2016 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Equity Capital 0 0 57 116 129 235 292 294
Reserves -74 -6 -20 -37 -21 672 930 1,107
585 956 1,131 1,060 1,224 694 382 119
398 574 693 1,151 1,190 386 369 382
Total Liabilities 909 1,524 1,861 2,291 2,521 1,987 1,973 1,901
167 497 476 741 762 841 796 743
CWIP 29 10 53 21 48 12 2 1
Investments 18 10 81 73 163 164 130 17
695 1,006 1,251 1,455 1,548 971 1,046 1,140
Total Assets 909 1,524 1,861 2,291 2,521 1,987 1,973 1,901

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2016 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
-25 73 -70 409 112 155 -73 54
-148 -191 -107 -308 -176 -53 26 37
180 82 176 -99 80 -77 5 -82
Net Cash Flow 7 -36 -1 2 16 25 -41 8

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2016 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 147 244 327 236 474 143 127 225
Inventory Days 3,183 1,600 540 164
Days Payable 2,664 2,231 1,496 430
Cash Conversion Cycle 667 -387 327 236 474 -812 -138 225
Working Capital Days 147 -42 74 -167 -416 203 350 734
ROCE % 3% 6% 4% 3% 2%

Shareholding Pattern

Numbers in percentages

3 Recently
Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
56.04% 56.04% 56.04% 55.72% 55.72% 55.72%
9.05% 9.67% 8.42% 8.33% 9.20% 8.33%
6.29% 5.50% 4.09% 2.94% 2.84% 1.75%
28.60% 28.79% 31.46% 33.01% 32.24% 34.21%
No. of Shareholders 86,76585,20879,98383,29293,8301,07,498

* 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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