Indowind Energy Ltd

₹ 8.28 -2.93%

23 Oct - close price

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]^[2]
Indowind is an independent power producer (IPP) engaged in developing, owning, operating, and maintaining wind power assets across India. The company supplies renewable energy to private consumers and state utilities under long-term power purchase agreements and has over 25 years of experience in wind farm operations and maintenance.

Website BSE NSE

Market Cap ₹ 133 Cr.
Current Price ₹ 8.28
High / Low ₹ 18.9 / 7.00
Stock P/E
Book Value ₹ 19.1
Dividend Yield 0.00 %
ROCE 1.44 %
ROE 0.00 %
Face Value ₹ 10.0

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Pros

Company has reduced debt.
Company is almost debt free.
Stock is trading at 0.43 times its book value
Debtor days have improved from 56.7 to 34.6 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 1.29% over last 3 years.
Company's cost of borrowing seems high
Working capital days have increased from 92.6 days to 171 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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Detailed Comparison with:

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	35.01	40.33	37.45
	10.97	9.48	11.49	15.45	15.82	12.32	8.39	18.02	19.97	22.97	22.96	28.26	25.12
Operating Profit	9.08	7.40	14.53	10.71	6.15	8.34	9.57	6.54	13.99	15.84	12.05	12.07	12.33
OPM %	45.29%	43.84%	55.84%	40.94%	27.99%	40.37%	53.29%	26.63%	41.20%	40.81%	34.42%	29.93%	32.92%
	5.14	7.13	2.37	-17.19	0.57	6.33	2.06	2.42	-5.96	1.09	0.80	0.42	-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%	51.57%	99.26%
	0.23	0.77	-1.99	-20.98	-12.26	0.06	0.22	0.13	-19.26	7.27	1.70	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	0.11	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:	8%
5 Years:	-4%
3 Years:	-20%
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	133.93	146.41
	76.66	73.89	100.00	99.56	101.19	90.80	60.72	56.06	60.06	25.19	13.25	9.54
	70.41	70.45	5.53	1.56	0.78	2.54	1.54	1.68	23.12	20.02	30.10	30.76
Total Liabilities	317.73	317.30	339.17	313.73	302.33	293.76	291.51	288.07	313.28	282.37	306.08	347.71
	155.57	199.88	228.60	198.94	189.20	180.73	245.57	166.31	159.45	235.79	243.23	245.08
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	61.85	90.28
Total Assets	317.73	317.30	339.17	313.73	302.33	293.76	291.51	288.07	313.28	282.37	306.08	347.71

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	1.97	2.77
	6.33	10.46	-6.68	9.80	1.81	0.97	0.92	2.63	4.78	43.96	-21.64	-33.80
	-8.58	-8.58	-0.63	-18.23	-7.35	-9.29	-4.85	-6.46	15.07	-57.19	20.40	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	0.73	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	-18.11	-19.12
CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit	32%	38%	55%	70%	87%	117%	64%	22%	2%	-47%	29%	37%

Ratios

Consolidated / 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	56.51	34.57
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	56.51	34.57
Working Capital Days	73.36	-19.24	40.40	-32.23	28.58	16.78	139.42	-445.70	-272.57	24.83	82.36	170.60
ROCE %	2.68%	2.89%	0.96%	2.45%	-0.85%	-0.09%	0.79%	0.71%	2.73%	3.93%	2.02%	1.44%

Insights

In beta

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
%

Machine Availability - Karnataka
%

Machine Availability - Tamil Nadu
%

Power Generation
million units (MUs) ・Standalone data

Installed Wind Power Capacity
MW ・Standalone data

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

2 Recently

	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
	50.76%	50.76%	50.76%	47.17%	47.16%	47.16%	47.16%	47.16%	47.82%	48.20%	48.20%	48.76%
	0.00%	0.00%	0.24%	0.01%	0.03%	0.02%	0.01%	0.05%	0.00%	0.00%	0.02%	0.02%
	49.24%	49.24%	49.00%	52.84%	52.82%	52.82%	52.84%	52.78%	52.18%	51.79%	51.78%	51.22%
No. of Shareholders	71,635	79,558	86,417	1,02,185	1,09,078	1,14,672	1,12,481	1,10,335	1,08,788	1,08,279	1,08,322	1,06,559

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	Sep 2026
	46.11%	48.92%	50.05%	50.32%	47.93%	45.87%	47.03%	50.76%	47.16%	48.20%	48.76%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.02%	0.00%	0.02%
	0.25%	0.26%	0.25%	0.00%	0.00%	4.46%	3.73%	0.00%	0.00%	0.00%	0.00%
	53.64%	50.83%	49.70%	49.67%	52.07%	49.68%	49.24%	49.24%	52.82%	51.79%	51.22%
No. of Shareholders	34,715	32,949	31,313	30,347	30,753	65,311	65,983	79,558	1,14,672	1,08,279	1,06,559

* 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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