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Indowind Energy Ltd
BSE Code:532894
[http://www.onlineequitycalls.com/2009/04/indowind-energy-ltd/]
Indowind Energy Ltd came out with superb results for the Q4FY09. The net sales of the company for the March, 2008 quarter came out to be Rs.31.91 Cr as against Rs.3.44 Cr in the same period previous year. THE PROFIT BEFORE DEPRECIATION AND TAX CAME OUT TO BE WHOPPING Rs.2.14 Cr against around Rs.99.9 lakhs in the same period previous year.
The profit after tax (PAT) of the company for Q4FY09, came out to be Rs.92.1 lakhs against Rs.50.6 lakhs in the same period previous year. This jump in net profit is inspite of higher tax, higher depreciation and higher interest outgo.
The company recently commenced operation from a new project. The company is expected to get Carbon Credit and this will further boost the top and bottom lines of the company. Indowind Energy Ltd has recently informed that the Company have commissioned its II phase of 9 MW Wind Energy Project on March 28, 2009 at Chitradurga. With this the total capacity of Indowind Power Division is 35.65 MW (including .75 MW commissioned in TN in Mar 09) & Capacity of Asset Management Service Division is 31.26 MW. And the overall capacity under Indowind Energy Ltd as on date is 66.91 MW.
The Board of directors of the company decided to establish a subsidiary / joint venture Company at UAE. This subsidiary / joint venture Company would be carrying on all kinds of business related to renewable energy. The proposed Company will also provide all kinds of services including installation, commission, operation and maintenance of all kinds of power generation equipments, machineries and plants.
The Company will also carry on business of manufacturing, selling, exporting, importing and dealing all kinds of power generation equipments including wind mills, wind turbines, solar panels, solar modules, wave energy generators, bio-mass and bio-gas plants and all other conventional renewable power generation equipments and spares of power generation equipments.
A very good stock at Rs.25, which can be purchased for a target of Rs.42, in the short to medium term. Today it is moving up with huge volume--the volume in the counter has already crossed half a million (502278 shares already traded), when this report is being made.
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