Inox Wind Ltd. · NSE:INOXWIND
Inox Wind — Q4 FY2023 Earnings Presentation
22 slides from Inox Wind's earnings presentation, May 2023
Slide 1: Inox Wind Limited Q4 FY23 and FY23 Investor Update
INOX WIND LIMITED Q4 FY23 AND FY23 INVESTOR UPDATE
Slide 2: Contents
CONTENTS 1. GROUP & COMPANY OVERVIEW 2. MACRO ENVIRONMENT TURNING FAVOURABLE FOR THE WIND SECTOR 3. IWL - BENEFITTING FROM THE TAILWINDS 4. WIND O&M BUSINESS – STABILITY WITH GROWTH 5. Q4 & FY23 EARNINGS UPDATE 2
Slide 3: Group & Company Overview
WIND GROUP & COM PANY OVERVIEW i wo9tert
Slide 4: Part of the Strong INOX GFL Group
PART OF THE STRONG INOX GFL 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
Slide 5: Inox Wind – Fully Integrated Wind Solutions Provider
INOX WIND – FULLY INTEGRATED WIND SOLUTIONS PROVIDER Fully integrated wind energy player providing end-to-end turnkey solutions to customers – from conception to commissioning to O&M Capacity to manufacture 1,900MW of nacelle and hubs, 1,600MW of blades and 600MW of towers * The prototype of newly l
Slide 6: Inox Wind – Business Structure
INOX WIND – BUSINESS STRUCTURE Inox Wind Energy Limited (IWEL) & Promoter Entities 72.01%* Inox Wind Limited (IWL) 100%* 56.04%* Resco Global Wind Services Pvt Ltd Inox Green Energy Services Limited (RGSPL) (IGESL) Manufacturing Infrastructure (EPC) O&M Among the largest WTG manufacturers in End
Slide 7: Macro Environment Turning Favorable for the Wind Sector
MACRO ENVIRONMENT TURNING FAVORABLE FOR THE WIND SECTOR 7
Slide 8: 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 9: Renewable Energy Implementing Agency-wise Bidding Calendar for FY24
RENEWABLE ENERGY IMPLEMENTING AGENCY-WISE BIDDING CALENDAR FOR FY24 Captive and third-party sale requirements are over and above this, which will result in massive growth opportunity.
Slide 10: Wind Sector Gaining Strength
WIND SECTOR GAINING STRENGTH Wind Power - Installations Wind Power – Auctions/Bid Invites A uc t io n P e rio d V o lum e (M W) Y e arly V o lum e s (M W) SECI 1– SECI 3 Feb’ 17 – M ar’ 18 4050M W State Auctio ns Feb’ 17 – M ar’ 18 1500M W F Y18 : 5 55 0 M W SECI 4 A pr-18 2000M W NTP C A ug-18 1200
Slide 11: IWL - Benefitting from the Tailwinds
IWL - BENEFITTING FROM THE TAILWINDS 11
Slide 12: WTG Order Book
WTG ORDER BOOK 1,224.7 23.1 104.0 501.6 1,120.7 350 350 SECI NTPC LOI for 3.3 MW Retail and Others Total Less: Supplied Net Order book as WTG from Adani on date • Execution of NTPC’s 150 MW project is progressing well. Execution of NTPC’s 200 MW has also commenced. • Above order book is expected to
Slide 13: 3.3MW WTG Attracting Significant Interest from Customers
3.3MW WTG ATTRACTING SIGNIFICANT INTEREST FROM CUSTOMERS The prototype of newly launched 3.3 MW WTG is performing well and type certification is in final stages, post the same, serial supplies will commence given the supply chain is already in place. IWL has built its’ supply chain capabilities in o
Slide 14: Strategic Interventions
STRATEGIC INTERVENTIONS • Successfully completed IPO of Inox Green Energy Services Ltd (IGESL - O&M subsidiary) in November Monetization 2022, raising Rs. 740 crs. Proceeds used to pare debt and deleverage balance sheet. O & M Business - IGESL • IGESL embarked on inorganic growth and has acquired 51
Slide 15: Wind O&M Business – Stability with Growth
WIND O&M BUSINESS – STABILITY WITH GROWTH 15
Slide 16: O&M Business – Poised for Growth
O&M BUSINESS – POISED FOR GROWTH Inorganic growth prospects# 12,946 9,793 O&M business of inactive/stressed players maintaining ~10GW of capacity provides a significant opportunity for IGESL’s inorganic 6,982 growth. Majority of this fleet is across retail customers. 3,196 3,144* Leveraging both com
Slide 17: 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 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 t
Slide 18: Q4 & FY23 Earnings Update
WIND Q4 & FY23 EARNINGS UPDATE i woptert
Slide 19: Key Financial Highlights
KEY FINANCIAL HIGHLIGHTS Operations: Operations in full swing and significant ramp up in execution from forthcoming quarter, which will get reflected in financial numbers going forward. Large order book with execution picking pace provides strong revenue visibility There is a significant decline in
Slide 20: Financial Highlights – Consolidated Audited Income Statement
FINANCIAL HIGHLIGHTS – CONSOLIDED AUDITED INCOME STATEMENT Statement of Consolidated Audited Financial Results For Quarter and Year Ended 31 March 2023 Rs. Lakhs Quarter Ended Year Ended Particulars 31-03-2023 31-12-2022 31-03-2022 31-03-2023 31.03.2022 Income a) Revenue from operation (net of taxes
Slide 21: Financial Highlights – Consolidated Audited Balance Sheet
FINANCIAL HIGHLIGHTS – CONSOLIDED AUDITED BALANCE SHEET As at As at As at As at Rs. Lakhs Particulars 31-Mar-23 31-Mar-22 Particulars 31-Mar-23 31-Mar (Audited) (Audited) (Audited) (Audited) Assets EQUITY AND LIABILITIES (1) Non-current assets (1) Equity (a) Property, Plant and Equipment 1,59,946 1,
Slide 22: Thank You
THANK YOU Manish Garg Contact No: 0120 6149600 Email : Investors.iwl@inoxwind.com 22