Integrated Filing — IndAS



General information about company
Scrip Code 532894
NSE Symbol INDOWIND
MSEI Symbol NOTLISTED
ISIN INE227G01018
Name of company INDOWIND ENERGY LIMITED
Type of company Main Board
Class of security Equity
Date of start of financial year 01-Apr-2024
Date of end of financial year 31-Mar-2025
Date of board meeting when results were approved 30-May-2025
Date on which prior intimation of the meeting for considering financial results was informed to the exchange 30-May-2025
Description of presentation currency INR (in Actuals)
Reporting Type Quarterly
Reporting Quarter Fourth quarter
Nature of report standalone or consolidated Consolidated
Whether results are audited or unaudited for the quarter ended Audited
Whether results are audited or unaudited for the Year to date for current period ended/year ended Audited
Segment Reporting Single segment
Description of single segment POWER GENERATION
Start date and time of board meeting 30-May-2025   19:00:00
End date and time of board meeting 30-May-2025   21:30:00
Whether cash flow statement is applicable on company Yes
Type of cash flow statement Cash Flow Indirect
Declaration of unmodified opinion or statement on impact of audit qualification Statement on impact of audit qualification



Financial Results Ind-AS
Particulars 3 months/ 6 months ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
A Date of start of reporting period 01-Jan-2025 01-Apr-2024
B Date of end of reporting period 31-Mar-2025 31-Mar-2025
C Whether results are audited or unaudited Audited Audited
D Nature of report standalone or consolidated Consolidated Consolidated
Part I Blue color marked fields are non-mandatory. For Consolidated Results, if the company has no figures for 3 months / 6 months ended, in such case zero shall be inserted in the said column.
1 Income
Revenue from operations 48003000 335125000
Other income 18292000 22974000
Total income 66295000 358099000
2 Expenses
(a) Cost of materials consumed 0 0
(b) Purchases of stock-in-trade 0 0
(c) Changes in inventories of finished goods, work-in-progress and stock-in-trade -2011000 -2011000
(d) Employee benefit expense 10132000 32706000
(e) Finance costs 5328000 19453000
(f) Depreciation, depletion and amortisation expense 10944000 73901000
(f) Other Expenses
1 OPERATING EXPENSES 4964000 34241000
2 SELLING AND DISTRIBUTING EXPENSES 30258000 104956000
3 Other Expenses 25789000 59790000
Total other expenses 61011000 198987000
Total expenses 85404000 323036000
3 Total profit before exceptional items and tax -19109000 35063000
4 Exceptional items 0 0
5 Total profit before tax -19109000 35063000
6 Tax expense
7 Current tax 7825000 7825000
8 Deferred tax 20828000 14577000
9 Total tax expenses 28653000 22402000
10 Net movement in regulatory deferral account balances related to profit or loss and the related deferred tax movement 19000 -32000
11 Net Profit Loss for the period from continuing operations -47743000 12629000
12 Profit (loss) from discontinued operations before tax 0 0
13 Tax expense of discontinued operations 0 0
14 Net profit (loss) from discontinued operation after tax 0 0
15 Share of profit (loss) of associates and joint ventures accounted for using equity method 0 0
16 Total profit (loss) for period -47743000 12629000
17 Other comprehensive income net of taxes 249000 386000
18 Total Comprehensive Income for the period -47494000 13015000
19 Total profit or loss, attributable to
Profit or loss, attributable to owners of parent
Total profit or loss, attributable to non-controlling interests
20 Total Comprehensive income for the period attributable to
Comprehensive income for the period attributable to owners of parent
Total comprehensive income for the period attributable to owners of parent non-controlling interests
21 Details of equity share capital
Paid-up equity share capital 1288017000 1288017000
Face value of equity share capital 10 10
27 Details of debt securities
22 Reserves excluding revaluation reserve 1484850000
23 Earnings per share
i Earnings per equity share for continuing operations
Basic earnings (loss) per share from continuing operations -0.37 0.11
Diluted earnings (loss) per share from continuing operations -0.37 0.11
ii Earnings per equity share for discontinued operations
Basic earnings (loss) per share from discontinued operations 0 0
Diluted earnings (loss) per share from discontinued operations 0 0
ii Earnings per equity share
Basic earnings (loss) per share from continuing and discontinued operations -0.37 0.11
Diluted earnings (loss) per share from continuing and discontinued operations -0.37 0.11
24 Debt equity ratio
25 Debt service coverage ratio
26 Interest service coverage ratio
27 Disclosure of notes on financial results



Remarks
Debt equity ratio
Debt service coverage ratio
Interest service coverage ratio


Statement of Asset and Liabilities
Particulars Year ended (dd-mm-yyyy)
Date of start of reporting period 01-Apr-2024
Date of end of reporting period 31-Mar-2025
Whether results are audited or unaudited Audited
Nature of report standalone or consolidated Consolidated
Assets
1 Non-current assets
Property, plant and equipment 1613397000
Capital work-in-progress 9560000
Investment property 0
Goodwill 0
Other intangible assets 855436000
Intangible assets under development 0
Biological assets other than bearer plants 0
Investments accounted for using equity method 0
Non-current financial assets
Non-current investments 414000
Trade receivables, non-current
Loans, non-current 18576000
Other non-current financial assets 115707000
Total non-current financial assets 134697000
Deferred tax assets (net)
Other non-current assets 118306000
Total non-current assets 2731396000
2 Current assets
Inventories 15784000
Current financial asset
Current investments 0
Trade receivables, current 54217000
Cash and cash equivalents 12134000
Bank balance other than cash and cash equivalents 5021000
Loans, current 0
Other current financial assets 29478000
Total current financial assets 100850000
Current tax assets (net) 0
Other current assets 205950000
Total current assets 322584000
3 Non-current assets classified as held for sale
4 Regulatory deferral account debit balances and related deferred tax Assets
Total assets 3053980000
Equity and liabilities
1 Equity
Equity attributable to owners of parent
Equity share capital 1288017000
Other equity 1501042000
Total equity attributable to owners of parent 2789059000
Non controlling interest 7062000
Total equity 2796121000
2 Liabilities
Non-current liabilities
Non-current financial liabilities
Borrowings, non-current 16087000
Trade payables, non-current
(A) Total outstanding dues of micro enterprises and small enterprises 0
(B) Total outstanding dues of creditors other than micro enterprises and small enterprises 0
Total Trade payable 0
Other non-current financial liabilities 0
Total non-current financial liabilities 16087000
Provisions, non-current 0
Deferred tax liabilities (net) 164268000
Deferred government grants, Non-current 0
Other non-current liabilities 0
Total non-current liabilities 180355000
Current liabilities
Current financial liabilities
Borrowings, current 53570000
Trade payables, current
(A) Total outstanding dues of micro enterprises and small enterprises 0
(B) Total outstanding dues of creditors other than micro enterprises and small enterprises 11750000
Total Trade payable 11750000
Other current financial liabilities 0
Total current financial liabilities 65320000
Other current liabilities 4315000
Provisions, current 7869000
Current tax liabilities (Net) 0
Deferred government grants, Current 0
Total current liabilities 77504000
3 Liabilities directly associated with assets in disposal group classified as held for sale
4 Regulatory deferral account credit balances and related deferred tax liability
Total liabilities 257859000
Total equity and liabilites 3053980000
Disclosure of notes on assets and liabilities



Format for Reporting Segmenet wise Revenue, Results and Capital Employed along with the company results
Particulars 3 months/ 6 month ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
Date of start of reporting period 01-Jan-2025 01-Apr-2024
Date of end of reporting period 31-Mar-2025 31-Mar-2025
Whether accounts are audited or unaudited Audited Audited
Nature of report standalone or consolidated Consolidated Consolidated
1 Segment Revenue (Income)
(net sale/income from each segment should be disclosed)
Total Segment Revenue
Less: Inter segment revenue
Revenue from operations
2 Segment Result
Profit (+) / Loss (-) before tax and interest from each segment
Total Profit before tax
i. Finance cost
ii. Other Unallocable Expenditure net off Unallocable income
Profit before tax
3 (Segment Asset - Segment Liabilities)
Segment Asset
Total Segment Asset
Un-allocable Assets null null
Net Segment Asset null null
4 Segment Liabilities
Segment Liabilities
Total Segment Liabilities
Un-allocable Liabilities null null
Net Segment Liabilities null null
Disclosure of notes on segments



Other Comprehensive Income
Particulars 3 months/ 6 months ended (dd-mm-yyyy) Year to date figures for current period ended (dd-mm-yyyy)
A Date of start of reporting period 01-Jan-2025 01-Apr-2024
B Date of end of reporting period 31-Mar-2025 31-Mar-2025
C Whether results are audited or unaudited Audited Audited
D Nature of report standalone or consolidated Consolidated Consolidated
Other comprehensive income [Abstract]
1 Amount of items that will not be reclassified to profit and loss
Total Amount of items that will not be reclassified to profit and loss
2 Income tax relating to items that will not be reclassified to profit or loss 0 0
3 Amount of items that will be reclassified to profit and loss
Total Amount of items that will be reclassified to profit and loss
4 Income tax relating to items that will be reclassified to profit or loss -249000 -386000
5 Total Other comprehensive income 249000 386000



Cash flow statement, indirect
Particulars Year ended (dd-mm-yyyy)
A Date of start of reporting period 01-Apr-2024
B Date of end of reporting period 31-Mar-2025
C Whether results are audited or unaudited Audited
D Nature of report standalone or consolidated Consolidated
Part I Blue color marked fields are non-mandatory.
Statement of cash flows
Cash flows from used in operating activities
Profit before tax 35063000
Adjustments for reconcile profit (loss)
Adjustments for finance costs 19453000
Adjustments for decrease (increase) in inventories -816000
Adjustments for decrease (increase) in trade receivables, current 29814000
Adjustments for decrease (increase) in trade receivables, non-current 0
Adjustments for decrease (increase) in other current assets -92962000
Adjustments for decrease (increase) in other non-current assets 0
Adjustments for other financial assets, non-current 3192000
Adjustments for other financial assets, current -12000
Adjustments for other bank balances 0
Adjustments for increase (decrease) in trade payables, current -11498000
Adjustments for increase (decrease) in trade payables, non-current 0
Adjustments for increase (decrease) in other current liabilities -125004000
Adjustments for increase (decrease) in other non-current liabilities -1134000
Adjustments for depreciation and amortisation expense 73901000
Adjustments for impairment loss reversal of impairment loss recognised in profit or loss 0
Adjustments for provisions, current 0
Adjustments for provisions, non-current 0
Adjustments for other financial liabilities, current 0
Adjustments for other financial liabilities, non-current 0
Adjustments for unrealised foreign exchange losses gains 0
Adjustments for dividend income 0
Adjustments for interest income 6086000
Adjustments for share-based payments 0
Adjustments for fair value losses (gains) 0
Adjustments for undistributed profits of associates 0
Other adjustments for which cash effects are investing or financing cash flow 0
Other adjustments to reconcile profit (loss) 0
Other adjustments for non-cash items -857000
Share of profit and loss from partnership firm or association of persons or limited liability partnerships 0
Total adjustments for reconcile profit (loss) -112009000
Net cash flows from (used in) operations -76946000
Dividends received 0
Interest paid 0
Interest received 0
Income taxes paid (refund) 14730000
Other inflows (outflows) of cash 0
Net cash flows from (used in) operating activities -91676000
Cash flows from used in investing activities
Cash flows from losing control of subsidiaries or other businesses 0
Cash flows used in obtaining control of subsidiaries or other businesses 0
Other cash receipts from sales of equity or debt instruments of other entities 0
Other cash payments to acquire equity or debt instruments of other entities 0
Other cash receipts from sales of interests in joint ventures 0
Other cash payments to acquire interests in joint ventures 0
Cash receipts from share of profits of partnership firm or association of persons or limited liability partnerships 0
Cash payment for investment in partnership firm or association of persons or limited liability partnerships 0
Proceeds from sales of property, plant and equipment 0
Purchase of property, plant and equipment 200773000
Proceeds from sales of investment property 0
Purchase of investment property 0
Proceeds from sales of intangible assets 0
Purchase of intangible assets 0
Proceeds from sales of intangible assets under development 0
Purchase of intangible assets under development 0
Proceeds from sales of goodwill 0
Purchase of goodwill 0
Proceeds from biological assets other than bearer plants 0
Purchase of biological assets other than bearer plants 0
Proceeds from government grants 0
Proceeds from sales of other long-term assets 0
Purchase of other long-term assets 0
Cash advances and loans made to other parties 0
Cash receipts from repayment of advances and loans made to other parties 0
Cash payments for future contracts, forward contracts, option contracts and swap contracts 0
Cash receipts from future contracts, forward contracts, option contracts and swap contracts 0
Dividends received 0
Interest received 6086000
Income taxes paid (refund) 0
Other inflows (outflows) of cash -30280000
Net cash flows from (used in) investing activities -224967000
Cash flows from used in financing activities
Proceeds from changes in ownership interests in subsidiaries 0
Payments from changes in ownership interests in subsidiaries 0
Proceeds from issuing shares 405711000
Proceeds from issuing other equity instruments 0
Payments to acquire or redeem entity's shares 0
Payments of other equity instruments 0
Proceeds from exercise of stock options 0
Proceeds from issuing debentures notes bonds etc 0
Proceeds from borrowings 0
Repayments of borrowings 57229000
Payments of lease liabilities 0
Dividends paid 0
Interest paid 0
Income taxes paid (refund) 0
Other inflows (outflows) of cash -19453000
Net cash flows from (used in) financing activities 329029000
Net increase (decrease) in cash and cash equivalents before effect of exchange rate changes 12386000
Effect of exchange rate changes on cash and cash equivalents
Effect of exchange rate changes on cash and cash equivalents 0
Net increase (decrease) in cash and cash equivalents 12386000
Cash and cash equivalents cash flow statement at beginning of period 4798000
Cash and cash equivalents cash flow statement at end of period 17184000





Details of Impact of Audit Qualification
Whether results are audited or unaudited Audited
Declaration of unmodified opinion or statement on impact of audit qualification Statement on impact of audit qualification
Auditor's opinion Qualified opinion
Declaration pursuant to Regulation 33 (3) (d) of SEBI (LODR) Regulation, 2015: The company declares that its Statutory Auditor/s have issued an Audit Report with unmodified opinion for the period on Standalone results
Sr No. Audit firm's name Whether the firm holds a valid peer review certificate issued by Peer Review Board of ICAI Certificate valid upto
1 Venkatesh & CO Yes 30-Nov-2026


Financial details
Sr. Particulars Audited Figures (as reported before adjusting for qualifications) Adjusted Figures (audited figures after adjusting for qualifications)
1 Turnover / Total income 358099000 358099000
2 Total Expenditure 323036000 390773000
3 Net Profit/(Loss) 35063000 -32674000
4 Earnings Per Share 0.11 -0.03
5 Total Assets 3053978000 2986241000
6 Total Liabilities 257857000 257857000
7 Net Worth 2796121000 2728384000


Audit qualification
Sr. Details of Audit Qualification Type of Audit Qualification Frequency of qualification For Audit Qualification(s) where the impact is quantified by the auditor For Audit Qualification(s) where the impact is not quantified by the auditor
Management's Views (i) Management's estimation on the impact of audit qualification (ii) If management is unable to estimate the impact, reasons for the same Auditors' Comments on (i) or (ii) above
1 Textual Information(1) Qualified opinion Repetitive Textual Information(2) Textual Information(3) Textual Information(4) Textual Information(5)
2 Textual Information(6) Qualified opinion Repetitive Textual Information(7) Textual Information(8) Textual Information(9) Textual Information(10)
3 Textual Information(11) Qualified opinion Repetitive Textual Information(12) Textual Information(13) Textual Information(14) Textual Information(15)
4 Textual Information(16) Qualified opinion Repetitive Textual Information(17) Textual Information(18) Textual Information(19) Textual Information(20)


Text Block
Textual Information(1) We refer to Note 8.10 of the financial statements. The Holding Company has not recognized expected credit loss nallowance on interest receivables of RUPEES 248.13 lakhs from TNEB Tirunelveli and BESCOM, which are credit impaired. nThis is not in compliance with Ind AS 109 on Financial Instruments, and results in an overstatement of trade nreceivables and profit for the year lower by RUPEES 248.13 lakhs.
Textual Information(2) The company had provided interest receipts from TANGEDCO at the rate of 12% as per the power purchase agreement. However, TANGEDCO offered 6% simple interest which the company agreed to avail on the condition that in case interest rate at a higher rate paid at a later date by TANGEDCO to any claimant, Indowind would become entitled to claim differential interest. In the case of BESCOM also the company is hopeful of collecting the interest dues in the due course.
Textual Information(3) NIL
Textual Information(4) NA
Textual Information(5) we dont have any further comments to offer.
Textual Information(6) We refer to Notes 8.11.1 and 8.6.1 of the financial statements. The Company has filed an arbitration claim namounting to RUPEES 9,083.39 lakhs against Suzlon Group. Out of this, RUPEES 1,066.24 lakhs paid to Suzlon Global Services Ltd. is accounted as advance without adequate audit evidence and not expensed. Further, RUPEES 845.59 lakhs has been recognised as compensation receivable from Suzlon Energy Ltd. without counterparty confirmation or fair valuation under Ind AS 109. The remaining balance of the claim has not been recognised. Had the advance been expensed and the receivable appropriately fair valued, profit before tax would have been lower by RUPEES 327.24 lakhs and RUPEES 845.59 lakhs respectively. The accounting treatment thus departs from the relevant Ind AS requirements and materially impacts the financial statements.
Textual Information(7) In continuation to the MOU dated 21st January 2022, the company envisaged that the 12.6 MW expansion project as agreed by Suzlon would commence immediately. Since there is a delay in the same, the Company has initiated arbitration proceedings to arrive at a comprehensive situation for the observations made.
Textual Information(8) NIL
Textual Information(9) NA
Textual Information(10) we dont have any further comments to offer.
Textual Information(11) We refer to Note 8.8 of the financial statements. The Holding Company has recognised RUPEES 102 lakhs as recoverable from Bank of Baroda based on a legal claim pending since 2007 without confirmation or sufficient audit evidence, which is not in compliance with Ind AS 37 and Ind AS 109. Had appropriate provision been made, the profit before tax would have been lower to that extent.
Textual Information(12) Consequent to the failure of Dena Bank (merged with Bank of Baroda), Bhopal to honour the Bank Guarantee (BG) for Rs. 100 Lakhs due on 20th June 2004, the company had filed a petition against the bank before the Honble High Court of Bombay for enforcing the BG with interest till the date of payment. Since the recoverable amount is much higher than the BG amount and since the case is under progress the company has preferred to retain the BG amount in the Non-Current asset as it is and consider the interest amount accrued until 31st March 2024 under the Contingent Asset. The appropriate accounting adjustments will be carried out based on the outcome of the case
Textual Information(13) NIL
Textual Information(14) NA
Textual Information(15) we dont have any further comments to offer.
Textual Information(16) M/s Ind eco ventures, wherin the group has not considered the impairment of goodwill as stated in note no 8.3.3 of the consolidated financial statements pursuant to a demerger. Accordingy we are not able to comment on the potential impairment, if any.
Textual Information(17) As Ind eco ventures has sufficient cash generating units and substantial compensation claims on the suppliers, there is no need for impairment of goodwill
Textual Information(18) nil
Textual Information(19) na
Textual Information(20) n nwe dont have any further comments to offer.


Signatories detail
Name of CEO / Managing director N.K. HARIBABU
Name of CFO N.K. HARIBABU
Name of audit committee chairman NIRANJAN JAGTAP
Name of statutory auditor VENKATESH & CO
Name of other signatory, if any, with designation
Place CHENNAI
Date 29-May-2025