Inox Wind Ltd (BOM:539083)
₹ 199.95 -4.75 (-2.32%) Market Cap: 260.69 Bil Enterprise Value: 286.74 Bil PE Ratio: 165.66 PB Ratio: 9.78 GF Score: 72/100
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Q4 2024 Inox Wind Ltd Earnings Call Transcript

May 03, 2024 / 11:30AM GMT
Release Date Price: ₹153.73 (-1.96%)

Key Points

Positve
  • Inox Wind Ltd (BOM:539083) reported a significant increase in revenue, with Q4 FY24 revenue at INR563 crore, up 190% YoY.
  • The company achieved a positive EBITDA of INR140 crore in Q4 FY24, compared to an EBITDA loss of INR25 crore in Q4 FY23.
  • Inox Wind Ltd (BOM:539083) reported a profit after tax of INR38 crore in Q4 FY24, reversing a loss of INR115 crore in Q4 FY23.
  • The company has a healthy order book of 2.7 gigawatts, setting a strong foundation for FY25.
  • Inox Wind Ltd (BOM:539083) has successfully reduced its external net interest-bearing debt to INR655 crore by the end of FY24.
Negative
  • Despite the positive financial results, Inox Wind Ltd (BOM:539083) still reported a loss after tax of INR51 crore for FY24.
  • The company acknowledged potential quarterly volatility in EBITDA margins, despite maintaining a full-year guidance of 14% to 15% for FY25.
  • Execution challenges remain a concern, particularly in scaling up operations to meet the increasing demand for wind power capacity.
  • There were some delays in execution, with the company not meeting its initial guidance of 450 megawatts for FY24, achieving slightly lower numbers.
  • The transition from two megawatt to three megawatt wind turbines has led to some operational challenges and adjustments, impacting short-term performance.
Operator

Ladies and gentlemen, good day, and welcome to Inox Wind Limited earnings conference call on hosted by ICICI Securities. (Operator Instructions). Please note that this conference is being recorded. I now hand the conference over to Mr. Nikhil Abhyankar from ICICI Securities. Thank you. And over to you, sir.

Nikhil Abhyankar
ICICI Securities - IR

Thanks, Sejal. On behalf of ICICI Securities, I would like to welcome you all to the Q4 FY24 Earnings Call of Inox Wind Limited. Today, we have with us Mr. Devansh Jain, Executive Director Inox GFL Group; Mr. Kailash Tarachandani, CEO, Inox Wind; Mr. Akhil Jindal, Group CFO Inox GFL Group; Mr. Rahul Roongta, CFO Inox Wind and other senior members of the management.

So without much further ado, I would like to hand over the call to the senior management for their opening remarks, and it will be followed by the Q&A. Over to you, Mr. Rahul Roongta.

Rahul Roongta
Inox Wind Ltd - CFO

Thanks. Good evening, everyone. A very warm welcome to all in the quarter and full

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