Inox Green Energy Services Ltd. · NSE:INOXGREEN
Inox Green Energy Services — Q3 FY23 Earnings Presentation
23 slides from Inox Green Energy Services's earnings presentation, Feb 10, 2023
Slide 1: Disclosure of Material Event: Earnings Presentation cover letter
INOX Green Energy Services Limited (Earlier known as lnox Wind Infrastructure Services Ltd.) ENERGY SERVICES LIMITED Corporate Office: INOXGFL Towers, Plot No.17, Tel: +91-120-6149600 1 contactOinoxgreen.com Sector-16A, Noida-201301, Uttar Pradesh, India. Fax: +91-120-6149610 1 https://inoxgreen.com
Slide 2: Q3 FY23 Investor Update
INOX GREEN ENERGY SERVICES LIMITED Q3 FY23 INVESTOR UPDATE
Slide 3: Discussion Summary
DISCUSSION SUMMARY ABOUT THE GROUP AND SECTOR INOX GREEN ONE OF THE LEADING O&M SERVICE PROVIDERS TRANSITION TO ASSET LIGHT MODEL GROWTH POTENTIAL – ORGANIC & INORGANIC OPERATIONAL AND FINANCIAL HIGHLIGHTS 2
Slide 4: Part of the Strong Inox GFL Group
PART OF THE STRONG INOX GFL GROUP Established businesses and market leadership across verticals The Inox GFL Group with a legacy of more than 90 years is one of the largest business groups in India. The Group is a forerunner in diversified business segments comprising specialty chemicals, fluoropoly
Slide 5: Renewable Energy Business
RENEWABLE ENERGY BUSINESS Inox Wind Energy Limited (IWEL) Promoter Entities 54.71%* Inox Wind Limited (IWL) 17.53%* 100%* 56.04%* Resco Global Wind Services Pvt Ltd Inox Green Energy Services Limited (IGESL) (RGSPL) Manufacturing Infrastructure (EPC) O&M Amongst the largest WTG manufacturers End
Slide 6: Strong Revival of Wind Sector Results in Significant Market Opportunities
STRONG REVIVAL OF WIND SECTOR RESULTS IN SIGNIFICANT MARKET OPPORTUNITIES Strong Policy push by Government of India – 8 GW wind power projects every year till 2030: The Govt. of India recently has announced the policy to invite bids for 8 GW wind power projects every year from 2023 to 2030. The t
Slide 7: Inox Green – Salient Features & Key Highlights
INOX GREEN – SALIENT FEATURES & KEY HIGHLIGHTS Dependable Subsidiary of Inox Wind Limited (IWL), and part of the Inox GFL group Key Metrics Sponsor of companies; enjoy synergistic benefits 01 02 Favorable Government Favorable national policy support 3,034 MW* 8 states Presence in wind- push Portfoli
Slide 8: IGSEL O&M Portfolio Growth
JM1 IGSEL O&M PORTFOLIO GROWTH Operating portfolio of O&M contracts (both comprehensive O&M contracts and 3,034 common infrastructure O&M contracts) has grown up to at a CAGR of ~40% since commencement of operations; 2,750 2,640 2,362 1,082 91 2022 2023* 2021 2019 • * As on date, includes 230 MW 201
Slide 9: Slide 7 JM1
Slide 7 JM1 Jitendra Mohananey, 06-02-2023
Slide 10: Key Strengths
KEY STRENGTHS 01 02 Promising growth Inox GFL Group of for the Industry Companies BE BOLD Promoted by Inox Wind Ltd; AND national Favorable NEVER policy IWL is India’s notable WTGs support; manufacturer which provides BE BORING Diversifying into Hybrid / Solar; wind energy turnkey solutions Value ad
Slide 11: Strong Growth in Capacity Additions in the Renewable Sector to Continue
STRONG GROWTH IN CAPACITY ADDITIONS IN THE RENEWABLE SECTOR TO CONTINUE New Capacity Additions Expected trend in power generation capacity ~17-19 GW addition (GW) Out of the ~100 GW of new Wind Sector capacity additions over the next ~82 five years, ~28 GW would come ~82-86 GW 52.9 from conventional
Slide 12: Synergistic Relationship with Inox Wind
SYNERGISTIC RELATIONSHIP WITH INOX WIND IGESL is a subsidiary of Inox Wind Limited and part Inox Wind Limited of the Inox GFL group of companies (IWL) IGESL enjoy synergistic benefits as a subsidiary of Promoter IWL, which is principally engaged in the business of manufacturing WTGs and providing tu
Slide 13: Reliable Cashflow Supported by Long Term O&M Contracts
RELIABLE CASHFLOW SUPPORTED BY LONG TERM O&M CONTRACTS Few major Diversified Customer Base customers Counterparties to O&M contracts feature a mix of leading independent power producers (~ 71%), public sector undertakings (~ 15%) and corporates (~ 14%); NTPC Oil India NHPC Long-term O&M Contracts pr
Slide 14: Established Supply Chain & Strong Team in Place
ESTABLISHED SUPPLY CHAIN & STRONG TEAM IN PLACE Strong and experienced management team 01 Established relationship with suppliers for key parts and We have a team of around 400 employees who have extensive components; experience in the O&M of WTGs and in the wind industry Our senior managers have an
Slide 15: Presence in All Wind Resource Rich States in India
PRESENCE IN ALL 8 WIND RESOURCE RICH STATES IN INDIA – 3.03 GW* Rajasthan: 560 MW Madhya Pradesh: 632 MW Dangri: 560 MW Jaora: 170 MW Kukru: 28 MW Lahori: 190 MW Nipaniya: 244 MW Gujarat: 1,228 MW Dayapar: 396 MW Mahidad: 94 MW Rojmal: 5534 MW Sadla: 146 MW Savarkundla: 58 MW Maharashtra: 196 MW And
Slide 16: Transitioning to an Asset Light Model with Minimal Capex
TRANSITIONING TO AN ASSET LIGHT MODEL WITH MINIMAL CAPEX Past business model Future strategy V. Required to develop common Reducing & monetizing investments infrastructure facilities such into the wind power assets of our as pooling substations and subsidiaries; transmission lines; Enjoy higher EBIT
Slide 17: Poised for Organic and Inorganic Growth
POISED FOR ORGANIC AND INORGANIC GROWTH Inorganic Growth 12,946 OEM Wise Market Share (MW) 9,793 6,982 The O&M business of inactive players provide a significant opportunity for the Company for Inorganic 3,196 3034* Growth; 2,004 1,174 357 Leverage on both our and our group’s existing customer base
Slide 18: IGESL – Growth Strategy Going Forward
IGESL – GROWTH STRATEGY GOING FORWARD A. Organic Growth: The execution of orders by Inox Wind shall lead to a firm addition to the existing fleet of ~ 3GW. Pricing Reset: Pricing of O & M contracts be it shared services or comprehensive are reset at the time of renewal of O & M contracts to in
Slide 19: Operational and Financial Highlights
OPERATIONAL AND FINANCIAL HIGHLIGHTS 17
Slide 20: Operational and Financial Highlights
OPERATIONAL AND FINANCIAL HIGHLIGHTS The Company has successfully completed its’ IPO in the month of November, 2022 and raised Rs. 740 crs (Rs. 370 crs primary and Rs. 370 crs secondary to Inox Wind). The company has utilized Rs. 330 crs from the proceeds of the IPO to deleverage its balance sheet.
Slide 21: Operational and Financial Highlights: Revenue and EBITDA
OPERATIONAL AND FINANCIAL HIGHLIGHTS Financial Highlights: Revenue from Operations and EBITDA compared to preceding quarter: Revenue from operations of Rs. 71.72 crs in Q3 FY23 as compared to Rs. 61.90 crs in Q2 FY22. The total revenue includes revenue from trading activities pertaining to the win
Slide 22: Consolidated Un-Audited Income Statement
CONSOLIDED UN-AUDITED INCOME STATEMENT INOX GREEN ENERGY SERVICES LIMITED CIN: U45207GJ2012PLC070279 Website : www.inoxgreen.com ,email:investor@inoxgreen.com Registered Office: Survey No. 1837 & 1834, At Moje Jetalpur, ABS Tower, 2nd Floor, Old Padra Road, Vadodara-390007, Gujarat, India STATEMENT
Slide 23: Thank You
THANK YOU Jitendra Mohananey Group Financial Controller Contact No: 0120 6149600 Email : Investors.iwl@inoxwind.com
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