Inox Wind Ltd. · NSE:INOXWIND
Inox Wind — Q3 FY2017 Earnings Presentation
19 slides from Inox Wind's earnings presentation, Feb 3, 2017
Slide 1: Stock exchange disclosure letter - Earnings Presentation
IWL: NOI: 06: 2017 034 February, 2017 \The Secretary (The Secretary IBSE Limited INational Stock Exchange of India Limited Phiroze Jeejeebhoy Towers Limited Exchange Plaza, Bandra Kurla Complex Dalal Street , Mumbai 400 001 Bandra (E), Mumbai 400 051 Scrip code: 539083 Scrip code: INOXWIND IFax No,
Slide 2: Inox Wind Limited Q3 & 9MFY17 Earnings Presentation
INOX WIND LIMITED Q3 & 9MFY17 EARNINGS PRESENTATION
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 RESULT ANALYSIS WORKING CAPITAL ORDER BOOK UPDATE MANUFACTURING CAPACITY PROJECT SITES SECI 1000 MW WIND TENDER SHAREHOLDING STRUCTURE CONSOLIDATED FINANCIALS 3
Slide 5: Operational Highlights
OPERATIONAL HIGHLIGHTS Production fully synchronized across nacelles, hubs, blades and towers 133 WTGs were sold during the quarter (266 MW) Execution in full swing across states like Gujarat, MP, Karnataka and Andhra Pradesh Robust orders inflows over the quarter; 330 MW Repeat Orders fro
Slide 6: Sales & Commissioning
SALES & COMMISSIONING Q3 FY16 (MW) Q3 FY17 (MW) 9MFY16 (MW) 9MFY17 (MW) 266 506 520 498 460 466 428 180 180 180 384 166 168 140 234 40 Nacelles & Hubs Blades Towers Commissioning Nacelles & Hubs Blades Towers Commissioning 200 MW ready for commissioning and another 80 MW erected across sites as at
Slide 7: Result Analysis - Q3 & 9MFY17
RESULT ANALYSIS- Q3 & 9MFY17 Q3 FY17 YoY ANALYSIS REVENUES* EBITDA (Incl. OI) & EBITDA MARGIN (%) EBITDA & EBITDA MARGIN (%) PAT & PAT MARGIN (%) 1,160.6 107.5 17.1% 105.7 950.3 198.5 18.4% 174.4 15.9% 17.1% 11.1% 9.3% 184.1 162.8 Q3 FY16 Q3 FY17 Q3 FY16 Q3 FY17 Q3 FY16 Q3 FY17 Q3 FY16 Q3 FY17 EBIDT
Slide 8: Q3 & 9MFY17 - Cost Analysis
Q3 & 9MFY17 – COST ANALYSIS Q3 FY16 Q3 FY17 9MFY16 9MFY17 11.9% 15.9% 15.4% 13.8% 17.1% 4.7% 4.3% 6.8% 4.8% 6.4% 6.5% 6.3% 8.0% 73.1% 73.8% 71.8% 71.4% Q3 FY17 9MFY16 Q3 FY16 9MFY17 Raw Material and EPC Cost Variable Cost Fixed Cost EBITDA Margin Fixed Cost expected to reduce further and get to norm
Slide 9: Working Capital Analysis
WORKING CAPITAL ANALYSIS Particulars (Rs Cr) Mar-16 Sept-16 Dec-16 Inventory 541.6 672.7 745.6 Receivables 2,414.3 2418.2 2488.6 Payables 1,177.8 887.7 1152.4 Others 137.4 177.4 118.6 Net Working Capital 1,640.8 2025.9 1963.2 Enhanced Common infrastructure Momentum of uptake in manufacturing capacit
Slide 10: Order Book Update
ORDER BOOK UPDATE Order Book Update 31st Dec 2016 MOVEMENT IN ORDER BOOK (MW) Total Order Book (MW) 1306 330 266 1,146 1,346 1,306* Estimated Execution Period 12 - 15 Months Order Addition – Q3 FY17 (MW) 330 Dec-15 Sep-16 Orders Addition Orders Execution Dec-16 Q3 FY17 Q3 FY17 Key Highlights of the
Slide 11: Manufacturing Capacity - 1,600 MW
MANUFACTURING CAPACITY- 1,600 MW 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 With doubling of Blade manufacturing capacity to 1,600 MW and enhanced tower manufac
Slide 12: Current Pipeline of Project Sites
CURRENT PIPELINE OF PROJECT SITES • Amongst the largest land bank owners in Gujarat, Rajasthan and Madhya Pradesh Rajasthan • Expanded presence in Andhra Pradesh and Gujarat Madhya Pradesh Karnataka and Kerala Maharashtra • Sufficient Land Bank as of December 2016 for installation of an aggregate ca
Slide 13: 1GW SECI Wind auction - Bids submitted, auction awaited
1GW SECI Wind auction- Bids submitted, auction awaited IWL submitted bids for 250MW as a developer A win-win situation for all: • Wind energy cost to come down thereby making wind the most competitive source of power • Expansion of market due to opening up of RPO demand from non-windy states • Long
Slide 14: Shareholding Structure
SHAREHOLDING STRUCTURE Market Data As on 30.01.17 (BSE) Share Price Performance 300 Market capitalization (Rs. Cr) 4,150 250 Price (Rs.) 187.0 200 No. of shares outstanding (Cr) 22 150 Face Value (Rs.) 10.0 Jul/16 Aug/16 Sep/16 Oct/16 Nov/16 Dec/16 Jan/17 Source - BSE Source - BSE % Shareholding – D
Slide 15: Consolidated P&L Statement
CONSOLIDATED P&L STATEMENT Particulars (Rs Cr.) Q3 FY17 Q3 FY16 YoY % 9M FY17 9M FY16 YoY % Revenue from Operations 1,160.6 950.3 22.1% 2,395.8 2,610.5 -8.2% Cost of Material Consumed 789.0 549.6 43.6% 1,552.9 1,637.9 -5.2% Changes in inventories of finished goods & work-in-progress (27.6) (17.9) 54
Slide 16: Detailed Financials - Consolidated P&L Statement
DETAILED FINANCIALS CONSOLIDATED P&L STATEMENT P&L Statement is as per IGAAP Particulars (Rs Cr) FY16 FY15 YoY % Revenue from Operations 4,414.1 2,709.0 62.9% Cost of Material Consumed 2,714.8 1,815.2 49.6% Changes in Inventories of Finished Goods & 28.5 -144.1 - Work-in-Progress EPC, O&M, Common In
Slide 17: Detailed Financials - Consolidated Balance Sheet
DETAILED FINANCIALS CONSOLIDATED BALANCE SHEET Particulars (Rs Cr) FY16 H1FY17 Particulars (Rs Cr) FY16 H1FY17 Share Holders’ Funds: Non-current assets: Equity share capital 221.9 221.9 Goodwill on Consolidation 17.4 0.0 Reserves and Surplus 1,621.9 1,750 Fixed Assets 594.2 665.1 Total of Shareholde
Slide 18: Financial Summary - Last 5 Year Performance
FINANCIAL SUMMARY – LAST 5 YEAR PERFORMANCE Financial Summary as per IGAAP Revenue from Operations EBIDTA & EBIDTA Margin % PAT & PAT Margin % 22.8% 18.6% 16.9% 16.1% 14.2% 15.7% 8.4% 10.9% 10.2% 4,414.1 11.3% 691.9 451.9 CAGR – 63% 2,709.0 CAGR – 49% CAGR – 46% 456.5 296.4 1,566.8 1,058.9 196.5 176
Slide 19: Thank You
FOR FURTHER QUERIES : THANK YOU Mr. Lokesh Pareek Corporate Investor Relations- Inox Group Contact No: 0120 6149881 Email : [email protected] 18