Inox Wind Ltd. · NSE:INOXWIND
Inox Wind — Q1 FY22 Earnings Presentation
20 slides from Inox Wind's earnings presentation, Aug 13, 2021
Slide 1: Exchange filing cover letter for earnings presentation
IWL: NOI: 130: 2021 13thAugust, 2021 The Secretary The Secretary BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers Exchange Plaza, Bandra Kurla Complex Dalal Street Bandra (E) Mumbai 400001 Mumbai 400 051 Scrip code: 539083 Scrip code: INOXWIND Sub: Disclosure of Materia
Slide 2: Inox Wind Limited Q1 FY22 Investor Update
INOX WIND LIMITED Q1 FY22 INVESTOR UPDATE
Slide 3: 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 state of affairs, results of operation
Slide 4: Discussion Summary
DISCUSSION SUMMARY OPERATIONAL HIGHLIGHTS FINANCIAL HIGHLIGHTS NEW HOLDING COMPANY OF WIND BUSINESS STRATEGIC INITIATIVES – FY22 & ONWARDS SIGNIFICANT MARKET OPPORTUNITIES ORDER BOOK TECHNOLOGY O&M – STRONG ANNUITY MODEL COMPONENTS OF WORKING CAPITAL WIND AUCTIONS WIND SECTOR:
Slide 5: Operational Highlights
OPERATIONAL HIGHLIGHTS Operations The Company has recorded Gross Revenue of Rs. 169 Crs. for Q1FY22 as compared to Rs. 97 Crs. for Q1FY21 resulting in an increase of ~ 74%. The Company continued to be EBITDA positive with EBITDA of Rs. 2.7 Crs for Q1 FY22, as compared to negative EBITDA of Rs. 2
Slide 6: Financial Highlights
FINANCIAL HIGHLIGHTS More Balance Sheet Actions on the card: The Company is contemplating raising funds by way of NCDs, the proceeds of which will be utilised inter alia to optimise working capital and retire high cost debt. It will also lead to improve the short term fund availability of the Comp
Slide 7: New Holding Company of Wind Business
NEW HOLDING COMPANY OF WIND BUSINESS Inox is committed to creating value for its stake holders. As a part of the same, the Wind Business has been demerged from GFL Limited and a new entity Inox Wind Energy Limited (IWEL) is now the new holding company of IWL by the way of a Composite Scheme of Arr
Slide 8: Strategic Initiatives - FY22 & Onwards
STRATEGIC INITIATIVES - FY22 & ONWARDS With our 3.3 MW Wind Turbine Platform, we are well placed to thrive under the auction regime and achieve sustainable margins which we used to enjoy during the FIT regime. We see a significant opportunity to further leverage, by being amongst the lowest cost p
Slide 9: Significant Market Opportunities
SIGNIFICANT MARKET OPPORTUNITIES The Intergovernmental Panel on Climate Change (IPCC) issued, arguably, its strongest warning yet on the impending catastrophe from unmitigated global warming caused by human activity. For India and the World the message is clear: need to take rapid actions to achie
Slide 10: Significant Market Opportunities
SIGNIFICANT MARKET OPPORTUNITIES SECI has recently floated three more tenders: • SECI XI Wind Tender of 1200 MW; We have seen very enthusiastic participation from • Hybrid IV 1200 MW and existing as well as new players in both these tenders. • RTC II Tender of 5000 MW* *RE 51%, with coal based the
Slide 11: Order Book
ORDER BOOK Particulars Capacity MW SECI 2: 300MW SECI 3: 200MW Auction based order book 950 •Inox: 250MW SECI 4: 100MW Others 96 •Adani: 50MW Supplied (426) Net order book (A) 620 SECI 1: 300MW LOI for 3.3 MW from Adani (B) 501.6 Inox Wind Maharashtra •Inox: 250MW Agreement signed with leading •Adan
Slide 12: Technology
TECHNOLOGY Inox Wind extends its existing 2MW product offering Technical Specification with the launch of the 3.3MW wind turbines which are ideally suited for low wind regimes in India. Rated power: 3300KW Drive Train : DF, 6 Pole Generator The 3.3MW turbine is a globally operating proven Tur
Slide 13: O&M – Strong Annuity Model
O&M – STRONG ANNUITY MODEL Inox Wind has multi year O&M agreements with customers. The revenue earning fleet stands at 1514 MW. Moreover, with the increase in the fleet size on the back of strong auction order inflow, we expect this revenue stream to pick up strongly in the coming years. O&M r
Slide 14: Components of Working Capital
COMPONENTS OF WORKING CAPITAL In Rs. Cr. Particulars Jun-20 Sep-20 Dec-20 Mar-21 Jun-21 Inventory 1,115 1,020 958 917 917 Net Receivables 65 70 22 (161) (185) Net Payables 760 644 496 448 387 Others 311 231 165 193 280 Net Working Capital 109 214 320 115 65 •Inventory: Consolidated Inventory levels
Slide 15: Wind Auctions
WIND AUCTIONS Auction Period Volume (MW) SECI 1 – SECI 3 Feb’17 – Mar’18 4050MW State Auctions Feb’17 – Mar’18 1500MW SECI 4 Apr-18 2000MW NTPC Aug-18 1200MW SECI 5 Sep-18 1200MW Hybrid 1 Dec-18 840MW SECI 6 Feb-19 1200MW Gujarat May-19 745MW Hybrid 2 May-19 720MW SECI 7 Jun-19 480MW SECI 8 Aug-19 4
Slide 16: Wind Sector: Gaining Strength
WIND SECTOR: GAINING STRENGTH The sector witnessed (GW) Withdrawal of AD an abrupt transition to Reintroduction of AD the auction regime. & GBI Provision & GBI Provision 5.5 Tariff Cap Removed 3.2 3.3 Impacted 2.3 2.3 by COVID 2 2.1 1.7 1.7 1.7 1.5 1.6 FY10 FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY
Slide 17: Manufacturing Capacity
MANUFACTURING CAPACITY CURRENT CAPACITY (MW) Una, Barwani, Rohika, Plant Location Himachal Madhya Total Gujarat Pradesh Pradesh Nacelles & Hubs 1,100 - - 1,100 Blades - 800 800 1,600 Towers - 300 300 600 Well positioned to take advantage of the growing market. Potential to debottleneck our nacel
Slide 18: Shareholding Structure
SHAREHOLDING STRUCTURE Market Data As on 12th Aug 21 (BSE) Inox Wind Share Price (Rs) 150.00 Market capitalization (Rs. Cr) 2805 120.00 Price (Rs.) 126.40 90.00 60.00 No. of shares outstanding (Cr) 22 30.00 Aug/2020 Oct/2020 Dec/2020 Feb/2021 Apr/2021 Jun/2021 Aug/2021 Face Value (Rs.) 10.0 Source -
Slide 19: Financials: Consolidated P&L Statement
FINANCIALS : CONSOLIDATED P&L STATEMENT Q1FY22 Q1FY21 Q4FY21 Particulars (In Rs Lakhs) (In Rs Lakhs) (In Rs Lakhs) Income a) Revenue from operation (net of taxes) 16,936 9,667 23,917 b) Other Income 145 523 5,629 Total Income from operations (net) 17,081 10,190 29,546 Expenses a) Cost of materials c
Slide 20: Thank You
THANK YOU Jitendra Mohananey Group Financial Controller Contact No: 0120 6149600 Email : Investors.iwl@inoxwind.com 19