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Last Updated on: 21 November, 2024
Author: Getaka|Social: Getaka Financial Services X (Earlier Twitter) Profile Getaka Financial Services LinkedIn Logo

Inox Wind Ltd: Intrinsic Value and Fundamental Analysis

Share Price and Basic Stock Data

Last Updated: November 21, 2024, 10:00 pm

Market Cap 24,597 Cr.
Current Price 189
High / Low262/65.1
Stock P/E129
Book Value 20.5
Dividend Yield0.00 %
ROCE4.26 %
ROE1.81 %
Face Value 10.0
PEG Ratio2.64

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for Inox Wind Ltd

Competitors of Inox Wind Ltd

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
HLE Glascoat Ltd 2,436 Cr. 357582/35081.6 63.20.31 %13.1 %8.62 % 2.00
Harish Textile Engineers Ltd 30.4 Cr. 91.0102/42.7 27.80.00 %10.8 %2.98 % 10.0
Disa India Ltd 2,552 Cr. 17,54620,900/12,70254.8 1,7801.14 %25.9 %19.2 % 10.0
Cranex Ltd 79.3 Cr. 132190/47.042.2 19.50.00 %10.1 %14.9 % 10.0
Concord Control Systems Ltd 1,015 Cr. 1,6972,062/53867.3 91.10.00 %72.8 %60.3 % 10.0
Industry Average13,168.67 Cr1,910.7359.00259.430.27%20.32%16.23%5.59

All Competitor Stocks of Inox Wind Ltd

Quarterly Result

MonthDec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
Sales203.80239.17169.36165.84152.03137.40210.62107.11226.21192.77341.42370.64503.45
Expenses201.39359.38168.11162.64184.03422.20238.74130.65401.54222.61316.08322.31410.68
Operating Profit2.41-120.211.253.20-32.00-284.80-28.12-23.54-175.33-29.8425.3448.3392.77
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%
Other Income5.6456.291.451.6733.8846.522.380.292.864.402.1116.151.32
Interest70.4560.9462.7168.6568.7282.6182.4390.3394.3469.6564.3963.9862.72
Depreciation22.8822.8620.4822.0925.8520.2525.6223.8326.4328.6125.8626.2528.05
Profit before tax-85.28-147.72-80.49-85.87-92.69-341.14-133.79-137.41-293.24-123.70-62.80-25.753.32
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%
Net Profit-51.97-105.87-52.54-57.52-63.95-255.76-129.79-133.81-287.86-119.26-64.59-26.841.81
EPS in Rs-2.34-4.70-2.36-2.58-2.80-11.52-4.66-4.79-10.36-3.61-1.96-0.740.03

Last Updated: Unknown

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: Unknown

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023TTM
Sales1,0591,5672,7094,4453,4054651,4367607116257371,408
Expenses8621,3912,2843,7112,8635481,2878779029259981,272
Operating Profit196176425734542-83149-116-191-300-261137
OPM %19%11%16%17%16%-18%10%-15%-27%-48%-35%10%
Other Income5947488426231176191924
Interest39466298155171169244255283341261
Depreciation9122035445266808889106109
Profit before tax154128389649427-280-62-430-459-653-689-209
Tax %2%-4%24%29%29%33%36%35%33%26%3%
Net Profit150132296461303-188-40-279-307-483-671-209
EPS in Rs37.586.6113.3620.7813.67-8.45-1.78-12.60-13.77-21.64-20.46-6.28
Dividend Payout %0%0%0%0%0%0%0%0%0%0%0%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2013-20142014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-2023
YoY Net Profit Growth (%)-12.00%124.24%55.74%-34.27%-162.05%78.72%-597.50%-10.04%-57.33%-38.92%
Change in YoY Net Profit Growth (%)0.00%136.24%-68.50%-90.02%-127.77%240.77%-676.22%587.46%-47.29%18.41%

Inox Wind Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 10 years from 2013-2014 to 2022-2023.

Growth

Compounded Sales Growth
10 Years:1%
5 Years:4%
3 Years:35%
TTM:111%
Compounded Profit Growth
10 Years:%
5 Years:4%
3 Years:24%
TTM:139%
Stock Price CAGR
10 Years:%
5 Years:88%
3 Years:83%
1 Year:187%
Return on Equity
10 Years:-6%
5 Years:-23%
3 Years:-28%
Last Year:-2%

Last Updated: Unknown

Balance Sheet

Last Updated: November 14, 2024, 10:33 pm

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Sep 2024
Equity Capital402002222222222222222222222223263261,304
Reserves2562281,1701,6651,9681,7821,7431,4641,0946881,3871,3711,365
Borrowings3755578741,4571,6741,0621,3051,1211,5662,6372,4163,2483,543
Other Liabilities2794959301,4341,2911,0321,4712,4852,5822,4171,9121,8492,147
Total Liabilities9501,4803,1964,7785,1554,0984,7415,2925,4645,9656,0416,7958,358
Fixed Assets1571742035277659859731,2281,1911,3431,6191,8131,946
CWIP4254943112206633230148123266263
Investments04506325309194333310534
Other Assets7891,2352,9444,1464,0243,0943,6113,9364,0104,4404,2984,7165,615
Total Assets9501,4803,1964,7785,1554,0984,7415,2925,4645,9656,0416,7958,358

Reserves and Borrowings Chart

Cash Flow

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Cash from Operating Activity +-121-76-106-163114269147733-112-475-1,100-360
Cash from Investing Activity +-135-44-148-968-5332-264-346-49-74231-528
Cash from Financing Activity +21912095850119-76076-385282486824878
Net Cash Flow-370704-630128-159-402122-62-45-9

Free Cash Flow

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Free Cash Flow-179.00-381.00-449.00733.00541.00-84.00148.00-117.00-192.00-302.00-263.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Debtor Days1721651931982551,051414635538627412238
Inventory Days4310593741332,8654111,363733940843441
Days Payable1221641551581871,6533871,446829663460214
Cash Conversion Cycle931071301152022,263438552442905795465
Working Capital Days162134157162212993331133144489745397
ROCE %21%28%26%16%-3%3%-6%-8%-11%-7%4%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthSep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024
Promoters66.82%67.55%67.55%72.24%72.24%72.24%72.01%72.01%64.64%52.87%52.87%48.27%
FIIs2.27%2.38%2.74%2.20%2.51%2.20%1.89%2.57%3.48%9.49%9.47%13.37%
DIIs0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.09%6.54%9.88%10.16%9.75%
Public30.91%30.06%29.70%25.56%25.26%25.56%26.10%25.33%25.34%27.76%27.49%28.62%
No. of Shareholders52,14758,25159,62459,73754,83454,14153,21253,90670,51287,9021,17,4842,26,975

Shareholding Pattern Chart

No. of Shareholders

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
Nippon India Small Cap Fund8,960,0000.52194.212,500,0002024-11-20258.4%
ICICI Prudential Multicap Fund3,058,2600.7666.292,500,0002024-11-2022.33%
Nippon India Value Fund2,500,0000.9654.192,500,0002024-11-200%
ICICI Prudential ELSS Tax Saver Fund2,406,5890.4752.162,500,0002024-11-20-3.74%
Bandhan Focused Equity Fund1,555,8612.6133.722,500,0002024-11-20-37.77%
ITI Small Cap Fund1,482,3851.9532.132,500,0002024-11-20-40.7%
ICICI Prudential Equity & Debt Fund1,002,1990.0821.722,500,0002024-11-20-59.91%
Bandhan Small Cap Fund962,9380.9420.872,500,0002024-11-20-61.48%
ICICI Prudential MidCap Fund953,5540.4920.672,500,0002024-11-20-61.86%
ICICI Prudential Child Care - Gift Fund770,1491.716.692,500,0002024-11-20-69.19%

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 24Mar 23Mar 22Mar 21Mar 20
FaceValue10.0010.0010.0010.0010.00
Basic EPS (Rs.)-1.56-20.58-19.37-13.84-12.59
Diluted EPS (Rs.)-1.56-20.58-19.37-13.84-12.59
Cash EPS (Rs.)1.75-17.32-15.37-8.68-8.98
Book Value[Excl.RevalReserv]/Share (Rs.)67.2469.3842.8459.3175.95
Book Value[Incl.RevalReserv]/Share (Rs.)67.2469.3842.8459.3175.95
Revenue From Operations / Share (Rs.)53.4822.6128.1532.0334.26
PBDIT / Share (Rs.)9.96-7.43-10.31-4.02-4.78
PBIT / Share (Rs.)6.59-10.69-14.31-7.98-8.39
PBT / Share (Rs.)-1.45-21.14-27.05-19.50-19.38
Net Profit / Share (Rs.)-1.62-20.58-19.37-12.65-12.60
NP After MI And SOA / Share (Rs.)-1.24-20.46-19.26-13.77-12.60
PBDIT Margin (%)18.62-32.88-36.63-12.54-13.94
PBIT Margin (%)12.32-47.28-50.83-24.92-24.50
PBT Margin (%)-2.70-93.51-96.09-60.87-56.57
Net Profit Margin (%)-3.03-91.00-68.80-39.49-36.78
NP After MI And SOA Margin (%)-2.31-90.48-68.42-42.99-36.79
Return on Networth / Equity (%)-2.38-38.40-46.95-23.21-16.59
Return on Capital Employeed (%)8.73-10.74-12.30-9.73-10.16
Return On Assets (%)-0.59-10.96-7.16-5.59-5.28
Long Term Debt / Equity (X)0.100.510.480.340.07
Total Debt / Equity (X)1.911.391.891.090.50
Asset Turnover Ratio (%)0.270.120.100.100.11
Current Ratio (X)0.771.090.930.830.92
Quick Ratio (X)0.480.680.630.580.63
Inventory Turnover Ratio (X)0.870.470.520.360.22
Interest Coverage Ratio (X)1.31-0.71-0.80-0.34-0.43
Interest Coverage Ratio (Post Tax) (X)0.85-0.96-0.52-0.09-0.14
Enterprise Value (Cr.)20673.775704.113991.052750.651096.37
EV / Net Operating Revenue (X)11.867.746.393.871.44
EV / EBITDA (X)63.67-23.54-17.44-30.85-10.35
MarketCap / Net Operating Revenue (X)9.754.133.932.190.54
Price / BV (X)10.011.752.701.180.24
Price / Net Operating Revenue (X)9.754.133.932.190.54
EarningsYield0.00-0.21-0.17-0.19-0.67

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value of Inox Wind Ltd as of November 21, 2024 is: 48.82

Calculation basis:

  • Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators.

As of November 21, 2024, Inox Wind Ltd is Overvalued by 74.17% compared to the current share price 189.00

Intrinsic Value of Inox Wind Ltd as of November 21, 2024 is: 72.69

Calculation basis:

  • Intrinsic value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100) * (1 + EPS CAGR for Last 5 Years)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.
  • EPS CAGR (Compound Annual Growth Rate): Represents the geometric mean growth rate of earnings per share over the last 5 years. It provides insight into the historical growth trajectory of the company's earnings.

This formula allows us to gauge the intrinsic value of the stock by analyzing its fundamental indicators along with EPS growth.

As of November 21, 2024, Inox Wind Ltd is Overvalued by 61.54% compared to the current share price 189.00

Last 5 Year EPS CAGR: 48.90%

*Investments are subject to market risks

Strength and Weakness

StrengthWeakness
    1. The stock has a low average ROCE of 5.25%, which may not be favorable.
    2. The stock has a high average Working Capital Days of 338.25, which may not be favorable.
    3. The stock has a high average Cash Conversion Cycle of 353.83, which may not be favorable.
    4. The company has higher borrowings (1,679.62) compared to reserves (1,244.69), which may suggest financial risk.
    5. The company has not shown consistent growth in sales (275.92) and profit (-86.25).

    Stock Analysis

    • Considering all of the following key financial indicators, prospective investors are encouraged to conduct thorough research and seek professional guidance before considering any investment in Inox Wind Ltd:
      1. Net Profit Margin: -3.03%
        • Net Profit Margin: This metric indicates the percentage of profit a company makes from its total revenue. A higher net profit margin is generally desirable as it reflects better profitability.
      2. ROCE: 8.73% (Industry Average ROCE: 20.32%)
        • ROCE (Return on Capital Employed): ROCE measures a company's profitability and the efficiency with which its capital is employed. A higher ROCE indicates efficient use of capital.
      3. ROE%: -2.38% (Industry Average ROE: 16.23%)
        • ROE (Return on Equity): ROE measures a company's profitability relative to shareholders' equity. A higher ROE indicates efficient use of shareholders' funds.
      4. Interest Coverage Ratio (Post Tax): 0.85
        • Interest Coverage Ratio: The interest coverage ratio measures a company's ability to cover its interest payments on outstanding debt. A ratio greater than 2 is generally considered healthy as it indicates the company can meet its interest obligations comfortably.
      5. Quick Ratio: 0.48
        • Quick Ratio: The quick ratio assesses a company's ability to cover its short-term liabilities with its most liquid assets. A ratio higher than 1 suggests the company can meet its short-term obligations without relying heavily on inventory.
      6. Stock P/E: 129 (Industry average Stock P/E: 59)
        • Stock P/E (Price-to-Earnings) Ratio: The P/E ratio compares a company's current share price to its earnings per share. A lower P/E ratio relative to industry peers or historical values may indicate that the stock is undervalued.
      7. Total Debt / Equity: 1.91
        • Total Debt / Equity: This ratio measures a company's financial leverage by comparing its total debt to its total equity. A lower ratio indicates lower financial risk and greater financial stability.
      The current analysis is available for review. It's important to conduct thorough research and consider consulting with financial professionals before making any investment decisions.
      Stock Rating:

    About the Company - Qualitative Analysis

    Inox Wind Ltd. is a Public Limited Listed company incorporated on 09/04/2009 and has its registered office in the State of Himachal Pradesh, India. Company’s Corporate Identification Number(CIN) is L31901HP2009PLC031083 and registration number is 031083. Currently Company is involved in the business activities of Manufacture of electric motors, generators, transformers and electricity distribution and control apparatus. Company’s Total Operating Revenue is Rs. 518.24 Cr. and Equity Capital is Rs. 221.92 Cr. for the Year ended 31/03/2022.
    INDUSTRYADDRESSCONTACT
    Engineering - HeavyPlot No.1, Khasra No.264 to 267, UNA Dist. Himachal Pradesh 174303investors.iwl@inoxwind.com
    http://www.inoxwind.com
    Management
    NamePosition Held
    Ms. Bindu SaxenaIndependent Director
    Mr. Devansh JainWhole Time Director
    Mr. Manoj Shambhu DixitWhole Time Director
    Mr. Mukesh ManglikNon Executive Director
    Mr. Sanjeev JainIndependent Director
    Mr. Brij Mohan BansalIndependent Director

    FAQ

    What is the latest intrinsic value of Inox Wind Ltd?

    The latest intrinsic value of Inox Wind Ltd as on 21 November 2024 is ₹48.82, which is 74.17% lower than the current market price of ₹189.00.

    What is the Market Cap of Inox Wind Ltd?

    The Market Cap of Inox Wind Ltd is 24,597 Cr..

    What is the current Stock Price of Inox Wind Ltd as on 21 November 2024?

    The current stock price of Inox Wind Ltd as on 21 November 2024 is ₹189.

    What is the High / Low of Inox Wind Ltd stocks in FY 2024?

    In FY 2024, the High / Low of Inox Wind Ltd stocks is 262/65.1.

    What is the Stock P/E of Inox Wind Ltd?

    The Stock P/E of Inox Wind Ltd is 129.

    What is the Book Value of Inox Wind Ltd?

    The Book Value of Inox Wind Ltd is 20.5.

    What is the Dividend Yield of Inox Wind Ltd?

    The Dividend Yield of Inox Wind Ltd is 0.00 %.

    What is the ROCE of Inox Wind Ltd?

    The ROCE of Inox Wind Ltd is 4.26 %.

    What is the ROE of Inox Wind Ltd?

    The ROE of Inox Wind Ltd is 1.81 %.

    What is the Face Value of Inox Wind Ltd?

    The Face Value of Inox Wind Ltd is 10.0.

    About the Author

    Author Avatar
    Getaka

    Getaka, CFA, a financial analyst with 15 years of experience in the industry. Getaka holds an MBA degree and the Chartered Financial Analyst designation, demonstrating his profound understanding of financial analysis and investment management. Throughout his career, he has conducted numerous financial analyses and due diligence processes for companies in the industry, and has a strong track record of identifying key trends and opportunities. He leverages his expertise to deliver a thorough financial analysis of a company, encompassing its financial performance, key ratios, future prospects, and risks. Getaka is committed to providing accurate, reliable, and trustworthy information to help readers make informed decisions about their finances and investments.

    Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Inox Wind Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE