Indowind Energy Ltd
Utilities | Small Cap
Indowind Energy Ltd, operating in the Power & Utilities sector, showcases a mixed financial performance. The company demonstrates strong solvency, indicating a solid financial structure with manageable debt levels. Profitability metrics, such as gross profit margin and return on capital employed, are also relatively strong. However, liquidity is a concern, with some ratios indicating potential difficulties in meeting short-term obligations. Growth metrics are weak, reflecting challenges in increasing revenue and earnings. While the company has strengths in specific areas, addressing its liquidity and growth challenges is crucial for sustained financial health. Overall, Indowind Energy demonstrates very good solvency and profitability but weak in liquidity and growth.
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- Valuation MetricsOvervalued
- Market Metrics
- Stock Reports
- Stock News
- Growth Ratio4.00
- Financial Ratio2.80
- Profitability Ratio6.60
- Efficiency Ratio4.67
- Coverage Ratio4.40
- Solvency Ratio10.00
- Liquidity Ratio6.64
- Peer Assessment
- Management AssessmentBalanced
- Risk AssessmentBalanced
- 1 HourNeutral
- 2 HoursNeutral
- 4 HoursNeutral
- 1 DayNeutral
- 1 WeekNeutral
- 1 MonthNeutral
Indowind Energy Ltd, operating in the Power & Utilities sector, showcases a mixed financial performance. The company demonstrates strong solvency, indicating a solid financial structure with manageable debt levels. Profitability metrics, such as gross profit margin and return on capital employed, are also relatively strong. However, liquidity is a concern, with some ratios indicating potential difficulties in meeting short-term obligations. Growth metrics are weak, reflecting challenges in increasing revenue and earnings. While the company has strengths in specific areas, addressing its liquidity and growth challenges is crucial for sustained financial health. Overall, Indowind Energy demonstrates very good solvency and profitability but weak in liquidity and growth.
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Overall Valuation Score
P/E RATIO (TTM)
82.85
Industry Median
16.74
Small Cap Median
17.70
P/E RATIO
134.63
P/B RATIO
0.61
Industry Median
2.41
Small Cap Median
2.28
P/S RATIO
5.17
Industry Median
1.86
Small Cap Median
1.67
Others
PEG RATIO
7.74
EV/EBITDA RATIO
14.09
The Calculations Shown Above Are Based on the Last Traded Price (LTP) of ₹10.77 as on Jun 15, 2026.
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Concall Report⬤5th Feb 26
Q3 & 9 Months FY26 Results Call
BULLISH SENTIMENT
The company's growth performance is generally weak. While revenue growth is good, other metrics like operating profit growth, EPS growth, asset growth, and net income growth are low, reflecting challenges in expanding profitability and overall business activities. The company is facing challenges in growing its financial metrics.
| Growth Ratios | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Revenue Growth Rate | 36.75 | 38.27 | 14.28 | -13.66 | 21.61 |
| Operating Profit Growth Rate | -31.66 | 113.91 | 13.22 | -33.4 | 41.52 |
| Earnings Per Share (EPS) Growth | 0 | -12100 | -137.5 | -82.22 | -100 |
| Asset Growth Rate | -1.18 | 8.75 | -9.87 | 8.16 | 13.86 |
| Net Income Growth Rate | -40.91 | -14915.38 | -137.75 | -82.53 | -99.21 |
Revenue Growth Rate
Operating Profit Growth Rate
Earnings Per Share (EPS) Growth
Asset Growth Rate
Net Income Growth Rate
The company's financial metrics are generally weak. Low adjusted EPS, cash EPS, book value per share, and dividend per share, coupled with high capital expenditures, suggest challenges in generating shareholder value and managing investments. The company is facing challenges in generating shareholder value and managing investments.
| Financial Ratios | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Adjusted Earnings Per Share (Adjusted EPS) | 0.01 | 0.53 | 0.77 | 0.1 | 0.06 |
| Cash Earnings Per Share (Cash EPS) | 0.79 | -1.14 | 1.34 | 0.67 | 0.51 |
| Book Value Per Share | 25.68 | 21.44 | 22.1 | 21.65 | 19.09 |
| Dividend Per Share (DPS) | 0 | 0 | 0 | 0 | |
| Capital Expenditures (CapEx) | 0 | 0.2 | 1.3 | 20.1 | 21.9 |
Adjusted Earnings Per Share (Adjusted EPS)
Cash Earnings Per Share (Cash EPS)
Book Value Per Share
Dividend Per Share (DPS)
Capital Expenditures (CapEx)
The company's profitability is mixed. While gross profit margin and operating margin are good, return on equity and net margin are low, indicating challenges in translating revenue into profits. The company is facing challenges in translating revenue into profits, but has adequate gross profit and operating margins.
| Profitability Ratios | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Gross Profit Margin | -1.55 | 20.61 | 22.52 | 9.43 | 16.49 |
| Return on Capital Employed (ROCE) | 0.71 | 2.73 | 3.93 | 1.99 | 2.22 |
| Return on Equity (ROE) | 0.06 | -8.37 | 3.07 | 0.46 | 0 |
| Return on Assets (ROA) | 2.27 | 4.47 | 5.61 | 3.45 | 4.29 |
| Operating Margin | 26.63 | 41.2 | 40.81 | 31.48 | 36.64 |
| Net Margin | 0.53 | -56.71 | 18.73 | 3.79 | 0.02 |
Gross Profit Margin
Return on Capital Employed (ROCE)
Return on Equity (ROE)
Return on Assets (ROA)
Operating Margin
Net Margin
The company's efficiency in managing its assets is varied. While inventory turnover and days sales in inventory are reasonable, fixed asset turnover, receivables turnover, receivable days, and capital turnover are low, signalling potential inefficiencies in utilizing fixed assets, collecting receivables, and overall capital management. This indicates there may be issues with asset utilization and working capital management.
| Efficiency Ratios | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Fixed Asset Turnover Ratio | 0.15 | 0.21 | 0.16 | 0.13 | 0.17 |
| Inventory Turnover Ratio | 5.05 | 6.03 | 10.12 | 19.71 | 20.26 |
| Receivables Turnover Ratio | 3.73 | 4.18 | 4.68 | 4.85 | 8.82 |
| Days Sales in Inventory Ratio | 72.28 | 60.53 | 36.07 | 18.52 | 18.02 |
| Receivable Days | 97.86 | 87.32 | 77.99 | 75.26 | 41.38 |
| Capital Turnover Ratio | 0.1 | 0.14 | 0.16 | 0.12 | 0.13 |
Fixed Asset Turnover Ratio
Inventory Turnover Ratio
Receivables Turnover Ratio
Days Sales in Inventory Ratio
Receivable Days
Capital Turnover Ratio
The company's coverage position is average. While the interest coverage ratio is fair, the equity dividend coverage ratio is low, indicating a limited ability to cover dividend payments with available equity. The business can manage its interest obligations, there are issues with dividend payments.
| Coverage Ratios | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Interest Coverage Ratio | 1.08 | 0.47 | 2.3 | 2.8 | 1.46 |
| Equity Dividend Coverage Ratio |
Interest Coverage Ratio
Equity Dividend Coverage Ratio
The company's solvency position is very strong, indicating a solid financial structure with manageable debt levels. The low debt ratios suggest a conservative approach to borrowing, while the high equity ratio reflects a strong equity base. The company has a solid financial position with low debt and high equity, making it less risky for investors. This provides a stable base for future growth.
| Solvency Ratios | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Debt Ratio | 0.05 | 0.03 | 0.03 | 0.01 | 0.03 |
| Debt to Equity Ratio | 0.05 | 0.03 | 0.03 | 0.01 | 0.03 |
| Equity Ratio | 0.95 | 0.97 | 0.97 | 0.99 | 0.97 |
| Debt To Asset Ratio | 0.04 | 0.03 | 0.03 | 0.01 | 0.03 |
Debt Ratio
Debt to Equity Ratio
Equity Ratio
Debt To Asset Ratio
The company's liquidity position is mixed. While the quick ratio suggests a good ability to meet short-term obligations with its most liquid assets, other metrics like cash ratio and operating cash flow ratio are low, indicating potential difficulties in covering immediate liabilities with cash and operating cash flows. The current ratio indicates adequate liquidity but some components need to be improved.
| Liquidity Ratios | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Current Ratio | 2.61 | 2.03 | 1.2 | 2.25 | 2.93 |
| Quick Ratio | 2.51 | 1.97 | 1.16 | 2.18 | 2.88 |
| Cash Ratio | 0.03 | 0.29 | 0.01 | 0.07 | 0.7 |
| Operating Cash Flow Ratio | 0.03 | 0 | -0.21 | -0.37 | 0.09 |
Current Ratio
Quick Ratio
Cash Ratio
Operating Cash Flow Ratio
Peer Comparison empowers investors to evaluate a company against its industry peers using key financial metrics like P/E ratio, EPS, and profit margins. It helps identify whether a company is overvalued, undervalued, or performing in line with competitors. Investors can use this data to spot opportunities, assess risks, and make informed decisions. This contextual view adds depth beyond standalone company analysis.
| NO | Company Name | Health Score | P/E Ratio | Valuation | OPM | EPS | Latest Profit & Loss |
|---|---|---|---|---|---|---|---|
| 1 | Kay Cee Energy & Infra Ltd | 6.89 | 9.06 | Neutral | 32.00 | 15.38 | 19.00 |
| 2 | Indowind Energy Ltd | 5.91 | 134.63 | Overvalued | 14.93 | 0.02 | 0.01 |
| 3 | Surana Solar Ltd | 3.97 | -2675.00 | Neutral | 0.45 | 0.25 | -0.05 |
Indowind Energy Ltd's management effectiveness is a mix of strengths and weaknesses. While the company has demonstrated the ability to grow revenue, as indicated by compounded sales growth, this is contrasted by inconsistent profitability and a recent decline in sales growth. The company's financial health is also a concern, with fluctuating debt levels. Although the promoter holding indicates confidence, the absence of dividend payout may deter some investors. The management's strengths in driving revenue are overshadowed by weaknesses in maintaining consistent profitability and managing financial leverage.
| Category | Metric | Value | Assessment |
|---|---|---|---|
| PROS | Compounded Sales Growth (5Y) | 10% | Strong revenue expansion |
| CONS | YOY Sales Growth (TTM) | -15.61% | Declining Sales Growth |
| CONS | Net Profit (Mar 2023) | -19.26 Cr | Inconsistent Profitability |
| CONS | Dividend Payout | 0.00% | No Dividend Payout |
Financial Performance & Growth
Indowind Energy's financial performance shows mixed signals. While it has demonstrated some ability to grow sales, its profitability is inconsistent. The compounded sales growth shows positive momentum over the years, but recent performance indicates challenges.
| Metric | 2015-2017 | 2018-2020 | 2021-2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Compounded Sales Growth (%) | 28.31 | -9.84 | 36.01 | 16.93 | -15.61 |
Despite revenue expansion, the company struggles with consistent profitability. The net profit has fluctuated significantly, with losses in some years and gains in others. This inconsistency raises concerns about the company's ability to translate sales into sustained profits, impacting investor confidence and long-term financial stability.
Capital Efficiency & Returns
Indowind Energy's capital efficiency and returns are generally weak, indicating that the company is not effectively utilizing its capital to generate profits. The Return on Capital Employed (ROCE) and Return on Equity (ROE) have been low over the past decade, reflecting poor returns on invested capital and shareholder funds.
| Metric | 2014-2016 | 2017-2019 | 2020-2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| ROCE (%) | 2.55 | 0.85 | 0.73 | 2.73 | 3.41 | 1.88 |
| Metric | 2014-2016 | 2017-2019 | 2020-2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| ROE (%) | 0.09 | -6.77 | 0.35 | -8.97 | 3.41 | 0.98 |
This suggests that the company struggles to generate sufficient returns from its assets and equity, which can deter investors and limit its ability to reinvest in growth opportunities. The low ROCE and ROE highlight the need for management to improve capital allocation and operational efficiency to enhance profitability and shareholder value.
Financial Health & Prudence
Indowind Energy's financial health and prudence present a mixed assessment. While the company has made efforts to reduce its borrowings, the fluctuating debt levels and interest coverage ratio raise concerns about its financial stability.
| Metric | 2014-2016 | 2017-2019 | 2020-2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Debt/Equity Ratio | 0.46 | 0.56 | 0.31 | 0.34 | 0.31 | 0.05 |
The company's ability to cover interest obligations is crucial for maintaining solvency and investor confidence.
Shareholding & Ownership Structure
Indowind Energy's shareholding and ownership structure show a moderate level of promoter confidence, but a limited presence of institutional investors. The promoter holding has fluctuated over the last few years, indicating some level of commitment from the company's founders or major shareholders.
| Metric | Mar 2017 | Mar 2019 | Mar 2021 | Mar 2023 | Mar 2025 |
|---|---|---|---|---|---|
| Promoter Holding (%) | 46.11 | 50.05 | 47.93 | 47.03 | 47.16 |
A higher promoter holding generally aligns management's interests with those of shareholders. However, the absence of significant FII and DII holdings may indicate a lack of confidence from institutional investors, which could impact the company's access to capital and overall market perception.
The risk assessment for Indowind Energy Ltd indicates a moderate level of concern. The segment performance volatility is evident from fluctuating sales and profit figures. The presence of borrowings suggests potential exposure to foreign exchange or interest rate fluctuations. Overall, closer monitoring of operational and financial performance is needed to mitigate potential adverse impacts.
Segment performance volatility
Indowind Energy's segment performance demonstrates notable volatility, as reflected in the fluctuating sales and profit figures across different quarters and years.
| Metric | Mar 2022 | Sep 2022 | Mar 2023 | Sep 2023 | Mar 2024 | Sep 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|
| YOY Sales Growth (%) | 608.11 | 64.60 | -13.93 | 22.67 | -1.55 | -25.52 | 8.11 |
| Metric | Mar 2022 | Sep 2022 | Mar 2023 | Sep 2023 | Mar 2024 | Sep 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|
| YOY Profit Growth (%) | -279 | 657 | -3370 | 28 | 102 | -11 | -857 |
This variability indicates potential challenges in maintaining stable revenue streams and consistent profitability, which could impact investor confidence and long-term financial health.
Foreign exchange or interest rate exposure
Indowind Energy's potential exposure to foreign exchange or interest rate fluctuations is inherent due to its borrowings.
| Metric | Mar 2014 | Mar 2017 | Mar 2020 | Mar 2023 | Mar 2025 |
|---|---|---|---|---|---|
| Borrowings (in Cr) | 79.19 | 100.00 | 90.80 | 60.06 | 6.97 |
Fluctuations in interest rates could affect the cost of servicing its debt.
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