Inox Wind Ltd. · NSE:INOXWIND
Inox Wind — Q4 FY2015 Earnings Presentation
21 slides from Inox Wind's earnings presentation, May 15, 2015
Slide 1: Quarterly Investor Update Q4 & Full Year FY15
INOX WIND LIMITED QUARTERLY INVESTOR UPDATE Q4 & FULL YEAR FY15
Slide 2: Discussion Summary
DISCUSSION SUMMARY • Q4 & FY15 RESULT HIGHLIGHTS • RESULT ANALYSIS • REVENUE ANALYSIS • BALANCE SHEET ANALYSIS • ORDER BOOK UPDATE • CURRENT PROJECT SITE PIPELINE • SHAREHOLDING STRUCTURE • FINANCIAL SUMMARY • APPENDIX 2
Slide 3: Q4 & Full Year FY15 Result Highlights
Q4 & FULL YEAR FY15 RESULT HIGHLIGHTS Q4 FY15 YoY ANALYSIS REVENUES* EBITDA & EBITDA MARGIN** PAT & PAT MARGIN 9,300.5 18.3% 12.7% 6,894.2 1,703.8 1,178.8 6.7% 7.9% 545.4 459.5 34.9 % 212.4 % 156.5 % Q4 FY14 Q4 FY15 Q4 FY14 Q4 FY15 Q4 FY14 Q4 FY15 EBIDTA EBIDTA % PAT PAT % FY15 YoY ANALYSIS REVENUES
Slide 4: Revenue Analysis
REVENUE ANALYSIS Q4 FY15 YoY ANALYSIS FY15 YoY ANALYSIS SALES VOLUMES (MW) SALES VOLUMES (MW) 578 198 68 68 132 130 330 18 94 274 44 510 114 130 150 286 Q4 FY14 Q4 FY15 FY14 FY15 Sales - Equipment Supply Sales - Turnkey Commisioning Sales - Equipment Supply Sales - Turnkey Commisioning 4
Slide 5: Balance Sheet Perspective
BALANCE SHEET PERSPECTIVE Particulars FY14 FY15 Particulars FY14 FY15 Current Assets Inventory 2,706.8 4,238.2 Receivables 7,095.8 14,321.8 Total of Shareholder funds 4,277.9 13,919.1 Cash 40.2 7,096.2 Total of Non-current liabilities 799.5 1,037.4 Others 1,943.4 2,645.6 Total Current Assets 11,786.
Slide 6: Order Book Update
ORDER BOOK UPDATE Order Book Update As on 31-Mar-2015 Order Book Analysis – Captive vs Third Party 4.2% Total Order Book (MW) 1,178 Captive Estimated Execution Period 12-15 Months Third Party Order Addition - Q4 FY15 (MW) 124 95.8% Current Order Book as on date has further improved significantly Div
Slide 7: Current Pipeline of Project Sites
CURRENT PIPELINE OF PROJECT SITES Wind Site under Project Site Total State Acquisition (MW) (MW) (MW)(3) Rajasthan 1,355 1,194 2,549 Rajasthan Gujarat 430 164 594 1,415MW 1,194MW Madhya Pradesh Madhya Pradesh 285 634 919 Gujarat 634 MW 74MW 410MW 285 MW Maharashtra - 300 300 Maharashtra 300 MW Andhr
Slide 8: In-House Manufacturing Capabilities
IN-HOUSE MANUFACTURING CAPABILITIES Plant Location Una, Himachal Pradesh UPDATE ON CAPACITY EXPANSION: Annual • Gujarat blade facility capacity raised from Himachal 550 nacelles; 550 hubs Capacity Pradesh 256 sets per annum to 400 sets per annum. • New Madhya Pradesh facility: • Construction in
Slide 9: Shareholding Structure
SHAREHOLDING STRUCTURE Market Data As on 14.05.15 (BSE) Share Price Performance 600 Market capitalization (Rs. Mn) 99,730 Rs 449.4 500 Price (Rs.) 449.4 400 300 No. of shares outstanding (Mn) 222 200 Face Value (Rs.) 10.0 100 0 52 week High-Low (Rs.) 325.0 – 494.7 Apr-15 May-15 Source - BSE % Shareh
Slide 10: Financial Summary – Last 5 Year Performance
FINANCIAL SUMMARY – LAST 5 YEAR PERFORMANCE Revenue from Operations EBIDTA & EBIDTA Margin % PAT & PAT Margin % 22.8% 18.6% 16.1% 14.2% 16.3% 16.9% 8.9% 10.9% 27,099.3 11.3% 8.4% 4,574.4 2,964.2 CAGR – 147.8% 15,668.1 CAGR – 150.1% CAGR – 160.9% 10,589.1 1,965.0 1,762.7 1,504.0 1,322.8 6,216.1 1,418
Slide 11: Appendix
WIND APPENDIX
Slide 12: Detailed Financials Consolidated P&L Statement
DETAILED FINANCIALS CONSOLIDATED P&L STATEMENT Particulars (In Rs Mn) Q4 FY15 Q4 FY14 YoY % FY15 FY14 YoY % Revenue from Operations 9,300.5 6,894.2 34.9% 27,099.3 15,668.1 73.0% Cost of Material Consumed 6,499.6 4,039.1 60.9% 18,152.4 10,527.5 72.4% Changes in inventories of finished -1,343.8 -430.9
Slide 13: Detailed Financials Consolidated B/S Statement
DETAILED FINANCIALS CONSOLIDATED B/S STATEMENT Particulars (In Rs. Mn) FY14 FY15 Particulars (In Rs. Mn) FY14 FY15 Share Holders’ Funds: Non-current assets: Fixed assets Equity share capital 2,000.0 2,219.2 Tangible assets 1,561.5 1,776.8 Reserves and Surplus 2,277.9 11,700.0 Intangible assets 160.8
Slide 14: Group Overview: Strong Pedigree
GROUP OVERVIEW STRONG PEDIGREE • Strong legacy of more than 80 years. • Diversified businesses across industrial gases, engineering plastics, refrigerants, chemicals, cryogenic engineering, renewable energy and entertainment sectors. • More than 8,000 employees at more than 100 business units across
Slide 15: Company Overview: Brief Profile
COMPANY OVERVIEW BRIEF PROFILE • Inox Wind Limited, incorporated in Apr-09, is amongst India’s largest WTG manufacturer providing turnkey solutions for building wind farm projects across India. • IWL is a part of Inox Group which is diversified across industrial gases, engineering plastics, refriger
Slide 16: Company Overview: Our Technology Partners
COMPANY OVERVIEW OUR TECHNOLOGY PARTNERS • Exclusive(1) & perpetual license from AMSC for producing and selling 2 MW WTGs in India. Inox Wind has sourced technology from • AMSC is amongst the leading technology companies in the wind energy AMSC, Austria, a wholly owned subsidiary of USA based Americ
Slide 17: Sustainable Competitive Advantage: End to End Turnkey Solutions
SUSTAINABLE COMPETITIVE ADVANTAGE ABILITY TO PROVIDE END TO END TURNKEY SOLUTIONS Engg., Wind Farm Power Infrastructure Support for all Operation and Post Comm. Procurement & Identification Evacuation Development Govt. Approvals Maintenance Support Construction • Identification of • Study of power •
Slide 18: Sustainable Competitive Advantage: Efficient Cost Structure
SUSTAINABLE COMPETITIVE ADVANTAGE EFFICIENT COST STRUCTURE Technology • Reduces research and development expenses Tie - ups • Ensures access to sophisticated technology and design to manufacture high quality WTGs Effective Supply • Strong, efficient and economical supply chain, with atleast 2 approv
Slide 19: Company Overview: Growth Strategy
COMPANY OVERVIEW GROWTH STRATEGY Maintaining high quality standards and project execution capabilities Expanding and improving Increasing inventory of existing manufacturing facilities project sites Improving the cost-efficiency of Continuing to generating power from wind energy consolidate position
Slide 20: Disclaimer
DISCLAIMER This presentation and the following discussion may contain “forward looking statements” by Inox Wind Limited (“IWL” or the Company) that are not historical in nature. These forward looking statements, which may include statements relating to future results of operations, financial conditi
Slide 21: Thank You
FOR FURTHER QUERIES : THANK YOU Ms. Ranju Goyal Ammeet Sabarwal / Nilesh Dalvi Company Secretary Dickenson Seagull IR Email : ranju.goyal@inoxwind.com Contact No : +91 9819576873 / +91 9819289131 Contact No : 0120 6149600 Email : ammeet.sabarwal@dickensonir.com nilesh.dalvi@dickensonir.com 21