Inox Wind Ltd

About [ edit ]

Inox Wind is one of the largest manufacturers of Wind Turbine Generators (WTGs) in India. We are a fully integrated wind energy solution provider engaged in providing services to IPPs, Utilities, PSUs, Corporates and Retail Investors.

  • Market Cap 1,609 Cr.
  • Current Price 72.5
  • High / Low 96.8 / 24.0
  • Stock P/E
  • Book Value 69.4
  • Dividend Yield 0.00 %
  • ROCE -6.15 %
  • ROE -15.3 %
  • Face Value 10.0

Pros

  • Company has reduced debt.
  • Stock is trading at 1.04 times its book value

Cons

  • Company has low interest coverage ratio.
  • The company has delivered a poor sales growth of -22.44% over past five years.
  • Company has a low return on equity of -8.58% for last 3 years.
  • Contingent liabilities of Rs.788.07 Cr.
  • Company has high debtors of 634.90 days.
  • Company's cost of borrowing seems high
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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
203 430 437 391 180 260 139 173 189 97 171 204
233 360 384 330 208 221 140 156 374 128 210 201
Operating Profit -30 70 53 61 -28 38 -1 17 -184 -32 -39 2
OPM % -15% 16% 12% 16% -16% 15% -1% 10% -97% -33% -23% 1%
Other Income 2 3 5 4 5 5 5 7 7 5 6 6
Interest 44 39 39 45 45 48 55 45 96 63 61 70
Depreciation 12 16 16 16 17 17 19 22 23 21 21 23
Profit before tax -83 18 2 3 -85 -22 -70 -42 -296 -110 -116 -85
Tax % 33% 43% 38% 38% 37% 36% 35% 34% 35% 34% 34% 39%
Net Profit -56 10 2 2 -53 -14 -46 -27 -192 -73 -76 -52
EPS in Rs -2.51 0.47 0.07 0.08 -2.39 -0.64 -2.07 -1.24 -8.66 -3.30 -3.42 -2.34

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 TTM
1,059 1,567 2,709 4,445 3,405 465 1,436 760 661
862 1,391 2,284 3,711 2,863 548 1,287 877 913
Operating Profit 196 176 425 734 542 -83 149 -116 -252
OPM % 19% 11% 16% 17% 16% -18% 10% -15% -38%
Other Income 5 9 47 48 84 26 23 11 24
Interest 39 46 62 98 155 171 169 244 290
Depreciation 9 12 20 35 44 52 66 80 88
Profit before tax 154 128 389 649 427 -280 -62 -430 -607
Tax % 2% -4% 24% 29% 29% 33% 36% 35%
Net Profit 150 132 296 461 303 -188 -40 -280 -393
EPS in Rs 37.58 6.61 13.36 20.78 13.67 -8.45 -1.78 -12.60 -17.72
Dividend Payout % -0% -0% -0% -0% -0% -0% -0% -0%
Compounded Sales Growth
10 Years:%
5 Years:-22%
3 Years:-39%
TTM:-12%
Compounded Profit Growth
10 Years:%
5 Years:%
3 Years:%
TTM:-180%
Stock Price CAGR
10 Years:%
5 Years:-22%
3 Years:-12%
1 Year:201%
Return on Equity
10 Years:%
5 Years:3%
3 Years:-9%
Last Year:-15%

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 Sep 2020
40 200 222 222 222 222 222 222 222
Reserves 256 228 1,170 1,665 1,968 1,782 1,743 1,464 1,319
Borrowings 375 557 874 1,457 1,674 1,062 1,305 1,121 1,023
279 495 930 1,434 1,291 1,032 1,471 2,485 2,862
Total Liabilities 950 1,480 3,196 4,778 5,155 4,098 4,741 5,292 5,426
157 174 203 527 765 985 973 1,228 1,173
CWIP 4 25 49 43 112 20 66 33 34
Investments -0 45 -0 63 253 0 91 94 95
789 1,235 2,944 4,146 4,024 3,094 3,611 3,936 4,123
Total Assets 950 1,480 3,196 4,778 5,155 4,098 4,741 5,292 5,426

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
-121 -76 -106 -163 114 269 147 733
-135 -44 -148 -968 -5 332 -264 -346
219 120 958 501 19 -760 76 -385
Net Cash Flow -37 0 704 -630 128 -159 -40 2

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
ROCE % 21% 28% 26% 16% -3% 3% -6%
Debtor Days 172 165 193 198 255 1,051 414 635
Inventory Turnover 5.38 4.82 5.59 3.04 0.15 0.90 0.28

Shareholding Pattern

Numbers in percentages

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021
75.00 75.00 75.00 75.00 75.00 75.00 75.00 75.00 75.00 75.00 75.00 73.39
7.32 7.18 7.14 6.92 6.92 6.72 6.32 1.91 1.59 1.59 1.63 1.78
0.35 0.78 0.76 0.77 0.81 0.62 0.62 0.53 0.30 0.00 0.00 0.00
17.33 17.04 17.10 17.31 17.27 17.66 18.06 22.56 23.11 23.41 23.37 24.82

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