Inox Green Energy Services Ltd

Inox Green Energy Services Ltd

₹ 168 -0.06%
16 Jul - close price
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.

  • Market Cap 4,924 Cr.
  • Current Price 168
  • High / Low 188 / 56.8
  • Stock P/E 165
  • Book Value 45.8
  • Dividend Yield 0.00 %
  • ROCE 3.62 %
  • ROE 2.41 %
  • Face Value 10.0

Pros

  • Company has reduced debt.
  • Company has delivered good profit growth of 20.8% CAGR over last 5 years

Cons

  • Stock is trading at 3.66 times its book value
  • The company has delivered a poor sales growth of 6.41% over past five years.
  • Company has a low return on equity of -3.85% over last 3 years.
  • Earnings include an other income of Rs.34.8 Cr.
  • Company has high debtors of 213 days.
  • Working capital days have increased from 353 days to 666 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.

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
46 45 62 62 72 57 57 47 60 52
53 35 44 44 56 51 34 34 40 41
Operating Profit -7 10 18 18 16 6 23 13 20 12
OPM % -15% 22% 28% 29% 22% 11% 40% 27% 33% 22%
-1 15 1 -1 16 14 0 13 -2 31
Interest 10 15 18 14 18 8 5 7 5 9
Depreciation 16 11 17 15 14 14 13 13 13 13
Profit before tax -34 -1 -16 -12 0 -1 5 6 0 20
Tax % 5% -98% 26% 31% -1,282% -84% 47% 8% 944% -4%
-32 -2 -12 -8 5 -2 3 6 -1 21
EPS in Rs -1.37 -0.08 -0.49 -0.35 0.16 -0.02 0.08 0.20 -0.05 0.73
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
368 164 165 172 172 254 224
352 82 77 109 90 197 149
Operating Profit 15 82 88 63 82 57 75
OPM % 4% 50% 53% 37% 48% 23% 33%
-14 -68 -47 -112 -70 40 35
Interest 65 30 53 61 55 71 25
Depreciation 17 27 40 49 50 65 53
Profit before tax -80 -43 -51 -158 -93 -39 31
Tax % 29% -23% -2% 3% -0% 48% 12%
-57 -53 -52 -154 -93 -20 28
EPS in Rs -11,328.00 -9.13 -4.52 -11.94 -3.97 -0.66 0.95
Dividend Payout % 0% 0% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: %
5 Years: 6%
3 Years: 9%
TTM: -12%
Compounded Profit Growth
10 Years: %
5 Years: 21%
3 Years: 30%
TTM: 181%
Stock Price CAGR
10 Years: %
5 Years: %
3 Years: %
1 Year: 193%
Return on Equity
10 Years: %
5 Years: -11%
3 Years: -4%
Last Year: 2%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Equity Capital 0 57 116 129 235 292 294
Reserves 2 -8 -20 -86 572 835 1,051
956 1,154 1,085 1,411 904 595 174
551 698 1,158 1,239 410 433 564
Total Liabilities 1,509 1,902 2,340 2,693 2,121 2,155 2,083
500 512 776 765 953 1,095 755
CWIP 10 59 26 251 133 7 7
Investments 0 71 72 33 33 0 0
999 1,260 1,465 1,645 1,002 1,052 1,320
Total Assets 1,509 1,902 2,340 2,693 2,121 2,155 2,083

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
65 -41 362 49 141 -26 -8
-168 -170 -306 -105 -153 -5 -63
82 195 -52 174 -63 -10 79
Net Cash Flow -21 -17 3 117 -76 -42 8

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 242 410 552 473 144 133 213
Inventory Days 1,891 540 215
Days Payable 2,200 2,029 758
Cash Conversion Cycle -67 410 552 473 -1,344 -409 213
Working Capital Days -55 610 -404 -549 135 257 666
ROCE % 5% 4% 2% 3% 1% 4%

Shareholding Pattern

Numbers in percentages

6 Recently
Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024
56.04% 56.04% 56.04% 55.72% 55.72% 55.72% 55.72%
9.05% 9.67% 8.42% 8.33% 9.20% 8.33% 9.16%
6.29% 5.50% 4.09% 2.94% 2.84% 1.75% 1.72%
28.60% 28.79% 31.46% 33.01% 32.24% 34.21% 33.40%
No. of Shareholders 86,76585,20879,98383,29293,8301,07,4981,21,044

* 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.

Click on the line-items to see the names of individual entities.

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