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Indowind Energy Ltd Stock Analysis

Small Cap
Evaluated by 356 users | BSE: 532894 | NSE: INDOWIND |
Power Generation/Distribution
Indowind, is an IPP in the renewable energy field generating “Green Power ” through dedicated Wind farms & also offers allied services in the Wind Energy sector with a mission to be a global player in wind energy sector.Indowind, with proven capabilities in setting up Wind...

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end
Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Value Creation
 Mar'11Mar'12Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20
Return on Capital Employed 2.52%2.08%1.69%1.26%1.83%2.27%0.82%0.38%-1.63%-0.07%
Growth Parameters
Growth Parameters Colour Code Guide
Net Sales (Rs. Cr.) 63.62921.9221915.623.924.220.618.9
Y-o-Y Gr. Rt.--54.4%-24.4%0.2%-13.6%-17.9%53.5%1.3%-15.2%-8%
Adjusted EPS (Rs.) 1.290.460.360.010.020.09-0.26-0.46-1.1-0.43
Y-o-Y Gr. Rt.--64.3%-21.7%-97.2%100%350%-388.9%NANANA
Book Value per Share (Rs.) 36.1823.8822.8218.9318.9519.2725.9516.6815.3115.32
Adjusted Net Profit 6.44.13.20.10.20.9-2.3-4.1-9.9-3.9
Net Op. Cash Flow (Rs. Cr.) 4836.710.818.81.928.28.17.55.314.4
Debt to Cash Flow from Ops 4.585.587.664.2140.672.6212.8521.5530.7110.62
Standalone financials take only the parent company into account while consolidated financials take into account financials of the parent company as well as of all its subsidiaries. In most companies consolidated financials should be used for analysis.
Indowind Energy Ltd. should be analysed on a Standalone basis
CAGR
CAGR Colour Code Guide
  9 yrs 5 yrs 3 yrs 1 yr
Net Sales -12.6%-0.1%-7.5%-8%
Adjusted EPS -188.5%-284.7%NANA
Book Value per Share -9.1-4.2-16.10.1
Share Price -2.4% 2% -12.7% 69.6%
Key Financial Parameter
Performance Ratio Colour Code Guide
 Mar'11Mar'12Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20
Return on Equity (%) 3.212.291.540.050.130.49-1.14-2.16-6.9-2.84
Operating Profit Margin (%) 25.447.1158.2857.4747.7447.4160.6544.9146.2944.02
Net Profit Margin (%) 10.0614.0714.70.441.165.44-9.64-17.07-48.17-20.61
Debt to Equity 1.190.950.40.470.450.430.441.081.191.11
Working Capital Days 1,4292,7404,1162,7782,0801,792705644576537
Cash Conversion Cycle 37831720382821591321198857
Entity Percentage Holding
Promoters 47.93%
Non-Institutions 52.07%
Pledged *8.918.918.918.908.908.868.868.868.8629.18
* Pledged shares as % of Promoter's holding (%)
Data is not available for this company.

The 5-year analysis of Indowind Energy Ltd's performance infers:

Indowind Energy Ltd earnings have declined by -284.7%, whereas share price has appreciated 2% CAGR over the past five years, indicating the company's share price is likely overvalued. However, for specific investment actions please connect with your investment advisor.

We analysed the performance of Indowind Energy Ltd share prices over the last 10 years. Here is what we found out:

Indowind Energy Ltd share price has appreciated -14.7% annually over the past ten years.

Indowind, is an IPP in the renewable energy field generating “Green Power ” through dedicated Wind farms & also offers allied services in the Wind Energy sector with a mission to be a global player in wind energy sector.

Indowind, with proven capabilities in setting up Wind farms, Operating & Maintaining them with optimum machine availability, Green Power sale to Corporates & EB, for which It has acquired through a decade on onsite experience possessing

Indowind, is an IPP in the renewable energy field generating “Green Power ” through dedicated Wind farms & also offers allied services in the Wind Energy sector with a mission to be a global player in wind energy sector.

Indowind, with proven capabilities in setting up Wind farms, Operating & Maintaining them with optimum machine availability, Green Power sale to Corporates & EB, for which It has acquired through a decade on onsite experience possessing considerable domain and technology knowledge to provide end-to-end solutions & services.

Indowind has strong capabilities and expertise in areas like project management, robust managerial & financial resources and experience in the operations of wind farms. The Indowind O&M team consists of dedicated staff for 24x7 monitoring of the Wind mills with capabilities for attending to machinery breakdowns to keep them in shipshape.

Group Companies  â€¢ Subuthi Finance• Loyal Credit and Investments

Services include:

• GPS - Green Power Sale 

Indowind as an IPP generates Green Power (which is the company’s registered Trade Mark) to corporate clients as clean energy from the renewable source. The corporates benefit out of the discount in the power tariff & also enhance their Corporate Social responsibility image. 

• PMS - Project Management Services

Site selection & Micro-siting Indowind undertakes the procurement of suitable sites with extensive wind study of the location for assessing the power generation potential through Micro-siting. This is a crucial and critical area of setting up Wind farms in highly potential windy belts across the country. Their experts base their site selection and micro-siting strategies using best industry practices and also help in the land purchase and registration process offering a turnkey solution.  • AMS - Asset Management Services

Revenue sharing Indowind offers total Asset Management Services wherein Indowind will extend its expertise to operate & manage the wind farm with a share in the revenues generated from the windmills without additional burden on the other resources of the clients. 

• RMS - Resource Management Services

Indowind also has expertise in developing financial packages for funding the projects and help complete the financial closure for the project through various financing options available in the Domestic & International markets (Banks, FIs, FIIs, NBFCs, Private Equity, QIP placements and Debt). The deals structured will be tailor made to suit the client’s requirement, & also take care of the Insurance & risk mitigation through escrow mechanism. 

• VAS - Value Addition Services

Indowind has expertise in getting Projects registered under the CDM (Clean Development Mechanism) of the UNFCCC for issuance of CERs. Indowind also operates in the Domestic & International CER Market. Indowind plans to register with the Indian Energy Exchange (IEX) for trading of power to participate in the opportunities opening up in the Power sector.

 Awards and achievements:

• India's first Wind Energy Company to get the carbon credits (Certified Emission Reductions) by UNFCCC under the clean development mechanism.

• Indowind raised Rs 73.34 crore through IPO during 2007 for setting up of 9 MW Wind Farm Project in Chitradurga , Karnataka.

• Indowind has issued $30 million (about Rs 118 crore) of foreign currency convertible bonds (FCCBs) with an option to raise an additional $5 million. The underlying equity shares on conversion will be listed on the BSE and the NSE. The FCCBs is listed at Singapore Stock Exchange.

• Indowind has successfully commissioned 9 MW Wind Farm Project in Chitradurga, Karnataka on March 2008.

• Branch Office opened at Dubai and London.

• Indowind has successfully commissioned 9 MW Wind Farm Project in Chitradurga, Karnataka on March 2009.

Future plans:

• Indowind is planning to install 100 MW wind Farm in next 24 Months at a cost of INR 6500 million.

• To develop and manufacture higher capacity turbines.

• Indowind is planning to expand is operations in Global Markets.

• Indowind is planning expand their business in other form of Renewable Sources.

Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323

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