Inox Green Energy Services Ltd. · NSE:INOXGREEN
Inox Green Energy Services — Q2 FY24 Earnings Presentation
22 slides from Inox Green Energy Services's earnings presentation, Oct 27, 2023
Slide 1: Cover letter to BSE and NSE: Earnings Presentation
INOX Green Energy Services Limited (Earlier known as lnox Wind Infrastructure Services Ltd.) E N E R G Y S E R V I C E S LIMITED Corporate Office: INOXGFL Towers, Plot No.17, Tel: +91-120-6149600 1 contact@inoxgreen.com Sector-IbA, Noida-201301, Uttar Pradesh, India. Fax: +91-120-6149610 1 https://i
Slide 2: Invitation to Q2FY24 results conference call
is pleased to invite you to the Q2FY24 results conference call of Represented by Senior Management on Friday, October 27, 2023 at 18:45 hrs India Standard Time Universal Access: +91 22 6280 1144; +91 22 7115 8045 Toll Free Numbers: Singapore 8001012045 Hong Kong 800964448 UK 08081011573 USA 18667462
Slide 3: Q2 FY24 Results Presentation
INOX GREEN ENERGY SERVICES LIMITED Q2 FY24 RESULTS PRESENTATION OCTOBER 2023 1
Slide 4: Contents
CONTENTS 1. KEY HIGHLIGHTS OF THE QUARTER 2. GROUP & COMPANY OVERVIEW 3. MACRO ENVIRONMENT ENTAILS SIGNIFICANT WIND CAPACITY ADDITION OVER THE NEXT DECADE 4. IGESL – WIND O&M BUSINESS – STABILITY WITH GROWTH 5. ESG FRAMEWORK 6. Q2 FY24 EARNINGS UPDATE 2
Slide 5: Key Highlights of the Quarter
KEY HIGHLIGHTS OF THE QUARTER IGESL posts second consecutive quarter of profits O&M portfolio stands at 3,200 MW Machine availability averaged 95.8% for the entire portfolio during Q2 FY24 Nani Virani 50MW SPV – term sheet signed for 100% divestment of the asset for a consideration of ~Rs 29
Slide 6: Group & Company Overview
INOXGreen ENERGY SERVICES LIMITED GROUP & COM PANY OVERVIEW i ; a croup
Slide 7: Part of the Strong INOXGFL Group
PART OF THE STRONG INOXGFL GROUP The INOXGFL 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, fluoropolymers, gases, wind turbines and renewables. The Group currently w
Slide 8: IGESL – A Stable Annuity Business Proposition
IGESL – A STABLE ANNUITY BUSINESS PROPOSITION Established track Technology driven Comprehensive O&M record in the company with focus on Solutions Provider for WTG wind energy predictive maintenance and common infrastructure O&M industry of over reactive O&M contracts >10 years maintenance Strong sup
Slide 9: IGESL – An Asset Light Annuity Business Model
IGESL – AN ASSET LIGHT ANNUITY BUSINESS MODEL Presence across all 8 windy states of India with a portfolio of 3,200GW of O&M assets Provides comprehensive O&M Solutions for WTG and common infrastructure O&M through long-term contracts of 5-20 years Rajasthan: Residual contract life of >6 years
Slide 10: Part of the Renewables Vertical of INOXGFL Group
IGESL – PART OF THE RENEWABLES VERTICAL OF INOXGFL GROUP Structure of InoxGFL group’s renewables vertical Promoter Entities + IWEL 64.64% Inox Wind Limited (IWL) 100% 61.23%* Resco Global Wind Inox Green Energy Services Pvt Ltd (RGSPL) Services Limited (IGESL) Manufacturing Infrastructure (EPC) O&M
Slide 11: Macro Environment Entails Significant Wind Capacity Addition Over the Next Decade
MACRO ENVIRONMENT ENTAILS SIGNIFICANT WIND CAPACITY ADDITION OVER THE NEXT DECADE 9
Slide 12: Favorable Macro Environment Expected to Boost Wind Sector Investments
FAVORABLE MACRO ENVIRONMENT EXPECTED TO SIGNIFICANTLY BOOST WIND SECTOR INVESTMENTS Higher bidding targets: GoI’s 50GW annual RE bids issue for FY24-28 period includes at least 10GW of wind as part of the target to reach 500GW of non-fossil fuel capacity by 2030 Bidding trajectory for FY24 issued by
Slide 13: Opportunities for the Indian Wind Sector Are Immense
OPPORTUNITIES FOR THE INDIAN WIND SECTOR ARE IMMENSE RENEWABLE ENERGY IMPLEMENTATION AGENCY-WISE BIDDING CALENDAR FOR FY24 RENEWABLE PURCHASE OBLIGATION TRAJECTORY NOTIFIED BY THE MoP OTHER LARGE-SCALE OPPORTUNITIES Year Wind RPO HPO Other RPO Total RPO Storage (on State auctions for wind, hybrid an
Slide 14: Wind O&M Business – Stability with Growth
IGESL – WIND O&M BUSINESS – STABILITY WITH GROWTH 12
Slide 15: Portfolio of 3,200MW of O&M Assets
IGESL – PORTFOLIO OF 3,200MW OF O&M ASSETS O&M Portfolio Growth Journey 3,200MW 2,750MW 2,362MW 1,082MW 91MW 2019 2022 2023 2013 2016 Key Metrics 1 2 3 4 5 6 3,200 MW >6 years 5-20 years 1,276 MW INR 116.5 crs INR 61.8 crs Current Residual Duration of Tenor of O&M Net Order Book of H1 FY24 Revenue f
Slide 16: Asset Light Growth Oriented Annuity Business Model
IGESL – ASSET LIGHT GROWTH ORIENTED ANNUITY BUSINESS MODEL Focus on long-term contracts with steady Digital Transformation Initiatives of IGESL cashflows 24x7 centralized Performance analysis IGESL provides Long-term O&M services for wind farm monitoring of assets & improvement projects, wind turbin
Slide 17: O&M Business Poised for Growth
IGESL – O&M BUSINESS POISED FOR GROWTH Inorganic growth prospects# O&M business of inactive/stressed players maintaining ~10GW of capacity provides a significant opportunity for IGESL’s inorganic growth. Majority of this fleet is across retail customers. Leveraging both company’s own and group’s exi
Slide 18: 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 O&M 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
Slide 19: ESG Framework
IGESL – ESG FRAMEWORK Business Responsibility & Global Reporting Initiative Standard Sustainability Reporting Sources of emissions Policy Structure & Certifications Scope 1 emissions Includes: Use of diesel • Environment & Energy as part of IMS Total: 1009 tons CO2 equivalent • ISO 14001:2015:- Envi
Slide 20: Key Financials - Audited Consolidated Income Statement
KEY FINANCIALS - AUDITED CONSOLIDED INCOME STATEMENT Particulars (Rs in Lakhs) Q2 FY24 Q1 FY24 Q2 FY23 H1 FY24 H1 FY23 FY23 Income Revenue from operation (net of taxes) 4,739 5,657 6,179 10,396 12,189 25,030 Other Income 1,082 174 383 1,257 520 3,980 Total Income from operations (net) 5,821 5,832 6,
Slide 21: Key Financials - Audited Consolidated Balance Sheet
KEY FINANCIALS - AUDITED CONSOLIDED BALANCE SHEET As at As at Particulars 30 September, As at As at 31 March, 2023 Particulars 2023 30 September, 2023 31 March, 2023 EQUITY AND LIABILITIES Equity ASSETS (a) Equity Share capital 29,361 29,194 (1 ) Non-current assets (b) Investments entirely equity in
Slide 22: Thank You
THANK YOU Anshuman Ashit Manish Garg Contact No: +91 84518 30601 Contact No: +91 98104 36606 Email : anshuman.ashit@inoxwind.com Email : Investors.iwl@inoxwind.com This presentation and the related discussions may contain “forward looking statements” by Inox Green Energy Services Limited (“IGESL” or
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