Indowind Energy: Buy

CMP: Rs.15.35

Book Value: Rs.25.75

Introduction: Indowind Energy Ltd develops and sells wind farms, manages wind assets, and generates Green Power for utilities and corporations. 

Its work consists of Wind Power Project Implementation from Concept to Commissioning, Wind Asset Management Software for installed assets, including operations, billing, and revenue collection from project customers. Customers are supplied with Green Power CER (Carbon Credit) Trading and Sales.

Financials: The consolidated net profit of Indowind Energy, surged 656.86% to Rs.3.86 crore on 64.60% increase in net sales to Rs.14.60 crore in Q2 September 2022 over Q2 September 2021.

On a consolidated basis, profit before tax surged 587.7% year-on-year to Rs 3.92 crore in Q2 September 2022. Total expense climbed 32.4% YoY to Rs 10.35 crore in Q2 FY23.

The net profit surged 138.27% and net sales soared 88.63% in Q2 FY23 over Q1 FY23.

The company's net cash from operating activities stood at Rs 9.22 crore in the half year ended September 2022, higher than Rs 2.41 crore in the same period last year.

EBITDA stood at Rs. 8.35 crore in September 2022 up 56.95% from Rs. 5.32 crore in September 2021.

Indowind Energy Ltd's EPS has increased to Rs.0.42 in September 2022 from Rs.0.05 in September 2021.

Conclusion:  Buy the share of Indowind Energy Ltd for short term targets of Rs.31/32.