Inox Wind Ltd

Inox Wind Ltd

₹ 631 3.15%
26 Feb - close price
About

Inox Wind Limited is a part of the Inox Group. The company is engaged in the business of manufacturing Wind Turbine Generators (WTGs) and is a wind energy solutions provider servicing IPPs, Utilities, PSUs, Corporates and Retail Investors. [1] Inox Wind Ltd is a fully integrated player in the wind energy market and provides end-to-end turnkey solutions.

Key Points

Products
The Co manufactures and distributes wind turbine generator components such as nacelles, hubs, rotor blade sets, and tubular towers, as well as offers wind resource assessment, site acquisition, infrastructure development, and operations and maintenance(O&M) of wind power projects. Some of its products include Inox DF 93, Inox DF 100 & Inox DF 113. [1]

  • Market Cap 20,561 Cr.
  • Current Price 631
  • High / Low 645 / 91.1
  • Stock P/E
  • Book Value 50.6
  • Dividend Yield 0.00 %
  • ROCE -8.37 %
  • ROE -50.2 %
  • Face Value 10.0

Pros

  • Company is expected to give good quarter

Cons

  • Stock is trading at 12.5 times its book value
  • Company has low interest coverage ratio.
  • Promoter holding has decreased over last quarter: -11.8%
  • The company has delivered a poor sales growth of 9.65% over past five years.
  • Company has a low return on equity of -36.9% over last 3 years.
  • Company has high debtors of 410 days.
  • Working capital days have increased from 458 days to 741 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 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
203.80 239.17 169.36 165.84 152.03 137.40 210.62 107.11 226.21 192.77 341.42 370.64 503.45
201.39 359.38 168.11 162.64 184.03 422.20 238.74 130.65 401.54 222.61 316.08 322.31 410.68
Operating Profit 2.41 -120.21 1.25 3.20 -32.00 -284.80 -28.12 -23.54 -175.33 -29.84 25.34 48.33 92.77
OPM % 1.18% -50.26% 0.74% 1.93% -21.05% -207.28% -13.35% -21.98% -77.51% -15.48% 7.42% 13.04% 18.43%
5.64 56.29 1.45 1.67 33.88 46.52 2.38 0.29 2.86 4.40 2.11 16.15 1.32
Interest 70.45 60.94 62.71 68.65 68.72 82.61 82.43 90.33 94.34 69.65 64.39 63.98 62.72
Depreciation 22.88 22.86 20.48 22.09 25.85 20.25 25.62 23.83 26.43 28.61 25.86 26.25 28.05
Profit before tax -85.28 -147.72 -80.49 -85.87 -92.69 -341.14 -133.79 -137.41 -293.24 -123.70 -62.80 -25.75 3.32
Tax % 39.06% 28.33% 34.72% 33.02% 31.01% 25.03% 2.99% 2.62% 1.83% 3.59% -2.85% -4.23% 45.48%
-51.97 -105.87 -52.54 -57.52 -63.95 -255.76 -129.79 -133.81 -287.86 -119.26 -64.59 -26.84 1.81
EPS in Rs -2.34 -4.70 -2.36 -2.58 -2.80 -11.52 -4.66 -4.79 -10.36 -3.61 -1.96 -0.74 0.03
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
1,059 1,567 2,709 4,445 3,405 465 1,436 760 711 625 737 1,408
862 1,391 2,284 3,711 2,863 548 1,287 877 902 925 998 1,272
Operating Profit 196 176 425 734 542 -83 149 -116 -191 -300 -261 137
OPM % 19% 11% 16% 17% 16% -18% 10% -15% -27% -48% -35% 10%
5 9 47 48 84 26 23 11 76 19 19 24
Interest 39 46 62 98 155 171 169 244 255 283 341 261
Depreciation 9 12 20 35 44 52 66 80 88 89 106 109
Profit before tax 154 128 389 649 427 -280 -62 -430 -459 -653 -689 -209
Tax % 2% -4% 24% 29% 29% 33% 36% 35% 33% 26% 3%
150 132 296 461 303 -188 -40 -279 -307 -483 -671 -209
EPS in Rs 37.58 6.61 13.36 20.78 13.67 -8.45 -1.78 -12.60 -13.77 -21.64 -20.46 -6.28
Dividend Payout % 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: -4%
5 Years: 10%
3 Years: -1%
TTM: 107%
Compounded Profit Growth
10 Years: %
5 Years: %
3 Years: %
TTM: 75%
Stock Price CAGR
10 Years: %
5 Years: 54%
3 Years: 110%
1 Year: 484%
Return on Equity
10 Years: -5%
5 Years: -23%
3 Years: -37%
Last Year: -50%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 40 200 222 222 222 222 222 222 222 222 326 326
Reserves 256 228 1,170 1,665 1,968 1,782 1,743 1,464 1,094 688 1,410 1,323
Preference Capital 0 0 0 0 0 0 0 0 0 918 0
375 557 874 1,457 1,674 1,062 1,305 1,121 1,566 1,719 2,416 2,726
279 495 930 1,434 1,291 1,032 1,471 2,485 2,582 3,335 1,930 2,008
Total Liabilities 950 1,480 3,196 4,778 5,155 4,098 4,741 5,292 5,464 5,965 6,082 6,382
157 174 203 527 765 985 973 1,228 1,191 1,343 1,619 1,348
CWIP 4 25 49 43 112 20 66 33 230 148 123 210
Investments 0 45 0 63 253 0 91 94 33 33 1 3
789 1,235 2,944 4,146 4,024 3,094 3,611 3,936 4,010 4,440 4,340 4,821
Total Assets 950 1,480 3,196 4,778 5,155 4,098 4,741 5,292 5,464 5,965 6,082 6,382

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
-121 -76 -106 -163 114 269 147 733 -112 -475 -1,100
-135 -44 -148 -968 -5 332 -264 -346 -49 -74 231
219 120 958 501 19 -760 76 -385 282 486 824
Net Cash Flow -37 0 704 -630 128 -159 -40 2 122 -62 -45

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 172 165 193 198 255 1,051 414 635 538 627 410
Inventory Days 43 105 93 74 133 2,865 411 1,363 733 940 843
Days Payable 122 164 155 158 187 1,653 387 1,446 829 663 460
Cash Conversion Cycle 93 107 130 115 202 2,263 438 552 442 905 792
Working Capital Days 162 134 157 162 212 993 331 133 144 489 741
ROCE % 21% 28% 26% 16% -3% 3% -6% -8% -11% -8%

Shareholding Pattern

Numbers in percentages

Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
73.39% 73.39% 66.82% 67.55% 67.55% 72.24% 72.24% 72.24% 72.01% 72.01% 64.64% 52.87%
1.78% 2.07% 2.27% 2.38% 2.74% 2.20% 2.51% 2.20% 1.89% 2.57% 3.48% 9.49%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.09% 6.54% 9.88%
24.82% 24.54% 30.91% 30.06% 29.70% 25.56% 25.26% 25.56% 26.10% 25.33% 25.34% 27.76%
No. of Shareholders 44,41047,29352,14758,25159,62459,73754,83454,14153,21253,90670,51287,902

* 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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