Indowind Energy Ltd

Indowind Energy Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Indowind Energy Ltd

₹ 11.2 1.09%
28 Apr - close price
indowind.com BSE: 532894 NSE: INDOWIND
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 ₹ 180 Cr.
  • Current Price ₹ 11.2
  • High / Low ₹ 23.1 / 7.00
  • Stock P/E
  • Book Value ₹ 17.4
  • Dividend Yield 0.00 %
  • ROCE 1.48 %
  • ROE 0.06 %
  • Face Value ₹ 10.0
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Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Stock is trading at 0.64 times its book value

Cons

  • Though the company is reporting repeated profits, it is not paying out dividend
  • Company has low interest coverage ratio.
  • The company has delivered a poor sales growth of 3.40% over past five years.
  • Company has a low return on equity of 1.69% over last 3 years.
  • Contingent liabilities of Rs.55.8 Cr.
  • Promoters have pledged 25.3% of their holding.
  • Working capital days have increased from 100 days to 509 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

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025
5.18 3.70 4.87 13.97 7.12 2.31 2.87 12.04 3.21 2.02 8.78 12.97 4.31
4.14 3.36 -0.01 3.81 7.27 2.74 0.22 3.61 2.28 3.93 4.64 4.38 3.47
Operating Profit 1.04 0.34 4.88 10.16 -0.15 -0.43 2.65 8.43 0.93 -1.91 4.14 8.59 0.84
OPM % 20.08% 9.19% 100.21% 72.73% -2.11% -18.61% 92.33% 70.02% 28.97% -94.55% 47.15% 66.23% 19.49%
0.47 -6.62 -1.01 0.05 0.02 1.09 0.02 0.11 0.34 0.66 0.01 0.19 1.85
Interest 0.92 0.43 1.16 1.79 0.64 0.36 0.43 0.56 0.42 0.85 0.27 2.38 0.18
Depreciation 0.37 0.03 2.03 4.40 0.27 0.29 1.02 4.48 0.72 1.00 2.38 3.57 0.81
Profit before tax 0.22 -6.74 0.68 4.02 -1.04 0.01 1.22 3.50 0.13 -3.10 1.50 2.83 1.70
Tax % 0.00% 268.55% -47.06% -23.13% 13.46% -6,000.00% -19.67% -10.86% 0.00% 71.29% -4.00% -12.37% -7.65%
0.23 -24.83 1.00 4.95 -1.18 0.62 1.46 3.88 0.13 -5.31 1.56 3.18 1.83
EPS in Rs 0.01 -1.54 0.06 0.31 -0.07 0.04 0.09 0.24 0.01 -0.33 0.10 0.20 0.11
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 TTM
21.99 18.99 15.60 23.94 24.24 20.56 18.92 15.71 17.66 28.15 27.33 22.36 28.08
9.36 9.92 8.21 9.42 13.54 14.42 10.59 6.14 11.12 14.17 12.86 12.26 16.42
Operating Profit 12.63 9.07 7.39 14.52 10.70 6.14 8.33 9.57 6.54 13.98 14.47 10.10 11.66
OPM % 57.44% 47.76% 47.37% 60.65% 44.14% 29.86% 44.03% 60.92% 37.03% 49.66% 52.95% 45.17% 41.52%
1.96 5.14 7.13 2.37 -17.19 0.57 6.33 2.06 2.42 -5.96 0.15 1.13 2.71
Interest 4.72 6.17 6.79 6.71 7.67 7.00 5.29 2.05 1.89 2.20 3.95 2.26 3.68
Depreciation 9.57 7.54 7.55 13.67 9.50 9.32 9.31 9.32 6.92 6.99 6.99 7.22 7.76
Profit before tax 0.30 0.50 0.18 -3.49 -23.66 -9.61 0.06 0.26 0.15 -1.17 3.68 1.75 2.93
Tax % 66.67% 56.00% -305.56% -42.69% -11.24% 27.68% 16.67% 15.38% 13.33% 1,547.01% -46.47% 90.86%
0.10 0.22 0.73 -1.99 -21.01 -12.26 0.05 0.22 0.12 -19.27 5.38 0.16 1.26
EPS in Rs 0.01 0.01 0.04 -0.11 -1.12 -0.65 0.00 0.01 0.01 -1.20 0.33 0.01 0.08
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: 2%
5 Years: 3%
3 Years: 8%
TTM: 37%
Compounded Profit Growth
10 Years: -3%
5 Years: 15%
3 Years: 5%
TTM: -107%
Stock Price CAGR
10 Years: 13%
5 Years: 30%
3 Years: 2%
1 Year: -43%
Return on Equity
10 Years: 0%
5 Years: 1%
3 Years: 2%
Last Year: 0%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Sep 2025
Equity Capital 89.74 89.74 89.74 89.74 89.74 89.74 89.74 89.74 89.74 107.33 107.33 128.80 128.80
Reserves 80.77 80.89 83.15 143.12 122.12 109.85 110.58 138.78 140.52 120.91 126.45 147.27 152.00
79.19 76.66 73.89 100.00 99.56 101.19 90.80 60.71 56.06 60.06 24.60 6.97 18.02
71.94 70.07 69.94 5.42 1.22 0.77 2.74 1.53 1.00 21.78 18.29 18.65 20.08
Total Liabilities 321.64 317.36 316.72 338.28 312.64 301.55 293.86 290.76 287.32 310.08 276.67 301.69 318.90
156.90 150.79 194.12 222.85 193.19 183.45 174.90 239.81 160.56 153.70 147.17 159.08 159.32
CWIP 47.18 46.35 64.03 47.78 60.96 73.13 74.64 0.96 0.96 0.96 0.96 0.96 1.45
Investments 4.56 6.96 9.21 10.76 11.10 11.10 11.05 11.14 1.72 0.72 9.70 9.70 9.70
113.00 113.26 49.36 56.89 47.39 33.87 33.27 38.85 124.08 154.70 118.84 131.95 148.43
Total Assets 321.64 317.36 316.72 338.28 312.64 301.55 293.86 290.76 287.32 310.08 276.67 301.69 318.90

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
18.82 1.89 28.17 8.06 7.51 5.32 14.41 14.51 1.22 -1.16 -6.28 -11.72
-11.50 6.44 -16.97 -6.89 9.81 1.82 -3.59 -7.73 2.63 6.59 -10.49 -19.93
-8.03 -8.58 -7.07 -0.63 -18.23 -7.35 -9.29 -4.85 -6.46 15.07 -4.58 32.58
Net Cash Flow -0.71 -0.25 4.12 0.53 -0.92 -0.21 1.52 1.92 -2.61 20.49 -21.34 0.94
Free Cash Flow -2.28 1.29 4.13 3.21 14.49 7.01 6.69 5.54 1.24 -1.36 -6.81 -30.92
CFO/OP 149% 32% 383% 56% 70% 87% 173% 152% 19% -8% -39% -108%

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Debtor Days 17.59 83.42 94.99 153.23 99.23 89.12 76.20 158.69 188.49 107.23 112.72 111.49
Inventory Days 39.61
Days Payable 294.26
Cash Conversion Cycle 17.59 83.42 94.99 153.23 -155.42 89.12 76.20 158.69 188.49 107.23 112.72 111.49
Working Capital Days -27.06 51.32 -37.20 97.73 -47.43 -65.51 -5.02 141.96 -631.62 -340.75 132.62 508.65
ROCE % 1.87% 2.68% 2.89% 0.96% 2.46% -0.85% -0.10% 0.80% 0.72% 2.75% 3.18% 1.48%

Insights

In beta
Mar 2010 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Total Installed Capacity
MW

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Total Power Generation
Million Units (kWh)
Machine Availability
%
Plant Load Factor (PLF) - Karnataka
%
Plant Load Factor (PLF) - Tamil Nadu
%
Plant Load Factor (PLF) - Weighted Average
%
Number of Windmills
Units

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

1 Recently
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
47.03% 50.76% 50.76% 50.76% 50.76% 47.17% 47.16% 47.16% 47.16% 47.16% 47.82% 48.20%
0.00% 0.02% 0.00% 0.00% 0.24% 0.01% 0.03% 0.02% 0.01% 0.05% 0.00% 0.00%
3.73% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
49.24% 49.21% 49.24% 49.24% 49.00% 52.84% 52.82% 52.82% 52.84% 52.78% 52.18% 51.79%
No. of Shareholders 65,98368,05971,63579,55886,4171,02,1851,09,0781,14,6721,12,4811,10,3351,08,7881,08,279

* 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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