Inox Wind Ltd

Inox Wind Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Inox Wind Ltd

₹ 86.8 1.18%
05 Jun - close price
inoxwind.com BSE: 539083 NSE: INOXWIND
About

Inox Wind Limited is a part of the Inox Group. The company is engaged in the business of manufacturing Wind Turbine Generators (WTGs) and is a wind energy solutions provider servicing IPPs, Utilities, PSUs, Corporates and Retail Investors. [1] Inox Wind Ltd is a fully integrated player in the wind energy market and provides end-to-end turnkey solutions.

Key Points

Products[1]
The Co. manufactures and distributes wind turbine generator components such as nacelles, hubs, rotor blade sets, and tubular towers, as well as offers wind resource assessment, site acquisition, infrastructure development, and operations and maintenance(O&M) of wind power projects. Some of its products include Inox DF 93, Inox DF 100 & Inox DF 113. It is amongst the few wind OEMs in India offering plug & play turnkey solutions and post-commissioning O&M services; Product portfolio includes 2MW & 3MW WTGs (under production) & 4MW (license secured). ** Company is planning for Commercial launch of 4.X MW WTG platform**.[2]

Website BSE NSE
  • Market Cap ₹ 14,999 Cr.
  • Current Price ₹ 86.8
  • High / Low ₹ 186 / 74.9
  • Stock P/E 37.0
  • Book Value ₹ 36.9
  • Dividend Yield 0.00 %
  • ROCE 10.5 %
  • ROE 7.09 %
  • Face Value ₹ 10.0
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Pros

  • Company has delivered good profit growth of 26.8% CAGR over last 5 years

Cons

  • Though the company is reporting repeated profits, it is not paying out dividend
  • Company has a low return on equity of 7.04% over last 3 years.
  • Company has high debtors of 353 days.
  • Promoter holding has decreased over last 3 years: -27.8%
  • Working capital days have increased from 168 days to 267 days

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
191 349 371 503 528 640 733 911 1,275 826 1,119 1,207 1,244
218 317 322 411 429 505 567 707 1,021 643 891 926 1,045
Operating Profit -27 31 48 93 99 135 166 204 254 184 228 282 200
OPM % -14% 9% 13% 18% 19% 21% 23% 22% 20% 22% 20% 23% 16%
-0 4 16 1 21 18 11 68 36 36 43 31 61
Interest 65 70 64 63 57 56 44 34 35 34 51 50 65
Depreciation 26 29 26 28 30 42 45 47 48 49 51 53 52
Profit before tax -119 -63 -26 3 31 55 88 190 208 138 169 209 144
Tax % 0% 2% 4% 45% -4% 24% 4% 42% 8% 29% 29% 40% 27%
-119 -65 -27 2 33 42 84 110 190 97 121 127 106
EPS in Rs -0.85 -0.46 -0.17 0.01 0.34 0.07 0.19 0.84 1.35 0.61 0.53 0.68 0.53
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
2,709 4,445 3,405 465 1,436 760 711 625 733 1,746 3,557 4,397
2,284 3,711 2,863 548 1,287 877 902 925 926 1,484 2,800 3,506
Operating Profit 425 734 542 -83 149 -116 -191 -300 -193 262 757 891
OPM % 16% 17% 16% -18% 10% -15% -27% -48% -26% 15% 21% 20%
47 48 84 26 23 11 76 19 -65 46 134 172
Interest 62 98 155 171 169 244 255 283 327 240 169 200
Depreciation 20 35 44 52 66 80 88 89 98 113 182 204
Profit before tax 389 649 427 -280 -62 -430 -459 -653 -684 -45 539 659
Tax % 24% 29% 29% -33% -36% -35% -33% -26% 4% 7% 19% 32%
296 461 303 -188 -40 -279 -307 -483 -712 -48 438 449
EPS in Rs 3.14 4.88 3.21 -1.99 -0.42 -2.96 -3.24 -5.08 -5.11 -0.26 3.23 2.34
Dividend Payout % 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: 0%
5 Years: 44%
3 Years: 82%
TTM: 24%
Compounded Profit Growth
10 Years: -1%
5 Years: 27%
3 Years: 38%
TTM: -12%
Stock Price CAGR
10 Years: 4%
5 Years: 32%
3 Years: 34%
1 Year: -52%
Return on Equity
10 Years: -3%
5 Years: -2%
3 Years: 7%
Last Year: 7%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Equity Capital 222 222 222 222 222 222 222 222 326 391 1,624 1,728
Reserves 1,170 1,665 1,968 1,782 1,743 1,464 1,094 688 1,387 2,417 3,423 4,654
874 1,457 1,674 1,062 1,305 1,121 1,566 2,637 2,416 2,078 1,500 1,587
930 1,434 1,291 1,032 1,471 2,485 2,582 2,417 1,912 1,867 2,246 4,099
Total Liabilities 3,196 4,778 5,155 4,098 4,741 5,292 5,464 5,965 6,041 6,754 8,792 12,068
203 527 765 985 973 1,228 1,191 1,343 1,619 1,843 2,291 2,825
CWIP 49 43 112 20 66 33 230 148 123 304 296 247
Investments 0 63 253 0 91 94 33 33 1 0 446 550
2,944 4,146 4,024 3,094 3,611 3,936 4,010 4,440 4,298 4,607 5,760 8,445
Total Assets 3,196 4,778 5,155 4,098 4,741 5,292 5,464 5,965 6,041 6,754 8,792 12,068

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
-106 -163 114 269 147 733 -112 -475 -1,100 -366 138 -598
-148 -968 -5 332 -264 -346 -49 -74 231 487 -406 -850
958 501 19 -760 76 -385 282 486 824 -130 277 1,558
Net Cash Flow 704 -630 128 -159 -40 2 122 -62 -45 -9 9 110
Free Cash Flow -210 -567 -176 84 10 462 -231 -654 -1,488 -881 -483 -1,246
CFO/OP -6% -4% 44% -373% 101% -650% 68% 155% 572% -117% 19% -64%

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Debtor Days 193 198 255 1,051 414 635 538 627 412 238 276 353
Inventory Days 93 74 133 2,865 411 1,363 733 940 843 441 238 268
Days Payable 155 158 187 1,653 387 1,446 829 663 460 214 188 178
Cash Conversion Cycle 130 115 202 2,263 438 552 442 905 795 464 326 443
Working Capital Days 54 48 68 614 138 -217 -430 -259 -12 75 161 267
ROCE % 28% 26% 16% -3% 3% -6% -8% -11% -7% 4% 12% 10%

Insights

In beta
Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
WTG Execution (Annual)
MW

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Order Book
MW
WTG Manufacturing Capacity
MW
O&M Portfolio
GW

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Shareholding Pattern

Numbers in percentages

Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
72.01% 64.64% 52.87% 52.87% 48.27% 48.27% 48.27% 48.27% 44.18% 44.18% 44.18% 44.18%
2.57% 3.48% 9.49% 9.47% 13.37% 15.82% 15.26% 15.68% 13.78% 13.37% 14.16% 14.60%
0.09% 6.54% 9.88% 10.16% 9.75% 9.09% 9.80% 9.44% 9.12% 9.87% 10.37% 10.96%
25.33% 25.34% 27.76% 27.49% 28.62% 26.83% 26.68% 26.61% 32.93% 32.59% 31.30% 30.25%
No. of Shareholders 53,90670,51287,9021,17,4842,26,9753,27,5163,87,1053,80,2494,23,4644,52,2734,56,8234,73,186

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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