Indowind Energy Ltd

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

₹ 9.02 -0.33%
04 Sep - 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 ₹ 145 Cr.
  • Current Price ₹ 9.02
  • High / Low ₹ 18.9 / 7.00
  • Stock P/E
  • Book Value ₹ 19.1
  • Dividend Yield 0.00 %
  • ROCE 2.22 %
  • ROE 0.00 %
  • Face Value ₹ 10.0
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Pros

  • Company is almost debt free.
  • Stock is trading at 0.47 times its book value
  • Debtor days have improved from 57.4 to 34.2 days.

Cons

  • Though the company is reporting repeated profits, it is not paying out dividend
  • Company has low interest coverage ratio.
  • Company has a low return on equity of 1.21% over last 3 years.
  • Contingent liabilities of Rs.49.2 Cr.
  • Promoters have pledged 25.3% of their holding.
  • 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

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026 Jun 2026
7.63 17.91 9.73 4.44 7.35 15.81 5.56 6.63 11.55 17.55 6.19 5.27 8.44
1.82 7.64 9.00 5.39 4.45 6.82 4.80 6.92 6.34 7.22 6.61 7.33 3.96
Operating Profit 5.81 10.27 0.73 -0.95 2.90 8.99 0.76 -0.29 5.21 10.33 -0.42 -2.06 4.48
OPM % 76.15% 57.34% 7.50% -21.40% 39.46% 56.86% 13.67% -4.37% 45.11% 58.86% -6.79% -39.09% 53.08%
-1.01 0.05 0.30 1.74 0.02 0.11 0.34 0.00 0.00 0.19 1.67 -2.44 0.00
Interest 1.31 1.87 0.66 0.44 0.43 0.56 0.42 0.53 0.27 2.38 0.18 0.10 0.29
Depreciation 2.06 4.43 0.30 0.32 1.04 4.51 0.74 1.09 2.42 3.61 0.84 1.33 2.40
Profit before tax 1.43 4.02 0.07 0.03 1.45 4.03 -0.06 -1.91 2.52 4.53 0.23 -5.93 1.79
Tax % -22.38% -23.13% 200.00% -2,000.00% -16.55% -9.43% 0.00% 127.23% -2.38% -1.10% -56.52% 26.64% -17.32%
1.75 4.96 -0.07 0.63 1.69 4.42 -0.07 -4.34 2.57 4.57 0.36 -7.51 2.10
EPS in Rs 0.09 0.31 0.00 0.04 0.10 0.27 0.00 -0.27 0.14 0.29 0.03 -0.46 0.12
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026 TTM
20.05 16.88 26.02 26.16 21.97 20.66 17.96 24.56 33.96 38.81 33.51 40.75 37.45
10.97 9.48 11.49 15.45 15.82 12.32 8.39 18.02 19.97 22.97 22.96 25.82 25.12
Operating Profit 9.08 7.40 14.53 10.71 6.15 8.34 9.57 6.54 13.99 15.84 10.55 14.93 12.33
OPM % 45.29% 43.84% 55.84% 40.94% 27.99% 40.37% 53.29% 26.63% 41.20% 40.81% 31.48% 36.64% 32.92%
5.14 7.13 2.37 -17.19 0.57 6.33 2.06 2.42 -5.96 1.09 2.30 -2.44 -0.58
Interest 6.17 6.79 6.71 7.67 7.00 5.29 2.05 1.89 2.20 4.27 1.95 2.93 2.95
Depreciation 7.54 7.55 13.67 9.50 9.32 9.31 9.32 6.92 6.99 7.10 7.39 8.21 8.18
Profit before tax 0.51 0.19 -3.48 -23.65 -9.60 0.07 0.26 0.15 -1.16 5.56 3.51 1.35 0.62
Tax % 54.90% -284.21% -42.82% -11.25% 27.71% 14.29% 15.38% 13.33% 1,560.34% -30.76% 63.82% 100.00%
0.23 0.77 -1.99 -20.98 -12.26 0.06 0.22 0.13 -19.26 7.27 1.27 0.01 -0.48
EPS in Rs 0.01 0.04 -0.11 -1.11 -0.65 0.00 0.01 0.01 -1.20 0.45 0.08 0.00 -0.02
Dividend Payout % 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: 9%
5 Years: 18%
3 Years: 6%
TTM: -5%
Compounded Profit Growth
10 Years: %
5 Years: %
3 Years: %
TTM: -108%
Stock Price CAGR
10 Years: 9%
5 Years: 10%
3 Years: -12%
1 Year: -47%
Return on Equity
10 Years: 0%
5 Years: 1%
3 Years: 1%
Last Year: 0%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Equity Capital 89.74 89.74 89.74 89.74 89.74 89.74 89.74 89.74 107.33 107.33 128.80 161.00
Reserves 80.92 83.22 143.90 122.87 110.62 110.68 139.51 140.59 122.77 129.83 150.11 146.41
76.66 73.89 100.00 99.56 101.19 90.80 60.72 56.06 60.06 25.19 6.97 9.53
70.41 70.45 5.53 1.56 0.78 2.54 1.54 1.68 23.12 20.02 19.52 30.78
Total Liabilities 317.73 317.30 339.17 313.73 302.33 293.76 291.51 288.07 313.28 282.37 305.40 347.72
155.57 199.88 228.60 198.94 189.20 180.73 245.57 166.31 159.45 235.79 248.47 245.07
CWIP 46.35 64.03 47.78 60.96 68.57 73.88 0.96 0.96 0.96 0.96 0.96 12.31
Investments 6.12 8.41 10.15 10.46 10.46 10.41 10.46 1.04 0.04 0.04 0.04 0.04
109.69 44.98 52.64 43.37 34.10 28.74 34.52 119.76 152.83 45.58 55.93 90.30
Total Assets 317.73 317.30 339.17 313.73 302.33 293.76 291.51 288.07 313.28 282.37 305.40 347.72

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
1.88 1.82 7.96 7.47 5.33 9.77 6.04 1.41 0.32 -8.05 -9.17 2.77
6.33 10.46 -6.68 9.80 1.81 0.97 0.92 2.63 4.78 43.96 -22.50 -33.80
-8.58 -8.58 -0.63 -18.23 -7.35 -9.29 -4.85 -6.46 15.07 -57.19 32.90 38.55
Net Cash Flow -0.36 3.71 0.64 -0.96 -0.21 1.44 2.11 -2.42 20.17 -21.28 1.24 7.52
Free Cash Flow 1.17 1.82 3.22 14.41 7.02 6.60 5.72 1.43 0.12 -9.33 -29.25 -19.12
CFO/OP 32% 38% 55% 70% 87% 117% 64% 22% 2% -47% -73% 30%

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Debtor Days 99.40 101.20 89.22 84.13 96.03 83.03 103.85 119.78 88.13 79.00 59.04 34.22
Inventory Days
Days Payable
Cash Conversion Cycle 99.40 101.20 89.22 84.13 96.03 83.03 103.85 119.78 88.13 79.00 59.04 34.22
Working Capital Days 73.36 -19.24 40.40 -32.23 28.58 16.78 139.42 -445.70 -272.57 24.83 248.23 168.93
ROCE % 2.68% 2.89% 0.96% 2.45% -0.85% -0.09% 0.79% 0.71% 2.73% 3.93% 1.99% 2.22%

Insights

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Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Plant Load Factor - Karnataka
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Plant Load Factor - Tamil Nadu
%
Installed Wind Power Capacity
MW ・Standalone data
Machine Availability - Karnataka
%
Machine Availability - Tamil Nadu
%
Power Generation
million units (MUs) ・Standalone data

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Shareholding Pattern

Numbers in percentages

7 Recently
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
50.76% 50.76% 50.76% 50.76% 47.17% 47.16% 47.16% 47.16% 47.16% 47.82% 48.20% 48.20%
0.02% 0.00% 0.00% 0.24% 0.01% 0.03% 0.02% 0.01% 0.05% 0.00% 0.00% 0.02%
49.21% 49.24% 49.24% 49.00% 52.84% 52.82% 52.82% 52.84% 52.78% 52.18% 51.79% 51.78%
No. of Shareholders 68,05971,63579,55886,4171,02,1851,09,0781,14,6721,12,4811,10,3351,08,7881,08,2791,08,322

* 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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