Inox Wind Limited
NSE: INOXWIND · Heavy Electrical Equipment · sector
₹58.40NSE close 2026-10-26
Key numbers
Market cap₹10,093 cr
Price₹58.40
52w high / low₹159 / ₹58
P/E24.2xSector median 27.8x
P/B1.6xSector median 5.4x
Book value₹36.9
Dividend yield–Sector median 0.19%
ROE6.0%Sector median 18.8%
ROCE10.6%Sector median 21.4%
OPM19.6%Sector median 15.1%
Debt / equity0.24xSector median 0.09x
EV/EBITDA12.8xSector median 21.4x
Interest cover3.8x
Current ratio2.01x
Sales growth 3y+81.4%Sector median +22.1%
Profit growth 3y–Sector median +27.5%
PEG–
Last 12 months to Jun 2026, Consolidated. "Sector median" = middle value of 43 companies in Heavy Electrical Equipment (P/E median leaves out loss-making companies). Tap ? for what a number means.
Things to know
- Cash ₹612 cr vs borrowings ₹1,551 cr (FY26): borrowings are higher by ₹940 cr.
- Operating profit covered interest 3.8x in the last 12 months.
- 9.39% of the promoters' shares are pledged (4.2% of all shares).
- Operating cash flow was below net profit in 4 of the last 5 years (FY26, FY25, FY24, FY23).
- Revenue was higher than a year earlier in 2 of the last 4 quarters.
- Other income was 56% of net profit in the last 12 months.
- Debtor days went from 238 (FY24) to 353 (FY26).
- No dividend in the last 5 financial years.
- Price ₹58.40 on 2026-10-26: -63.3% from the 52-week high, 0.0% from the 52-week low.
Plain facts from the filings, built by the same fixed rules for every company. A line appears only when the data for it is available. Not a view on the stock.
Charts
Weekly close · high ₹253.69 · low ₹58.40
RevenueNet profit
RevenueNet profit
Quarterly results
| ₹ cr | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 732 | 911 | 1,275 | 826 | 1,119 | 1,207 | 1,244 | 814 |
| EBITDA | 173 | 194 | 254 | 184 | 228 | 282 | 200 | 152 |
| OPM % | 23.6% | 21.2% | 19.9% | 22.2% | 20.3% | 23.3% | 16.0% | 18.7% |
| Other income | 10 | 82 | 36 | 36 | 43 | 31 | 61 | 58 |
| Net profit | 93 | 117 | 187 | 106 | 92 | 117 | 91 | 44 |
| EPS (₹) | 0.71 | 0.89 | 1.15 | 0.60 | 0.70 | 0.73 | 0.61 | 0.37 |
| Revenue YoY | +52.8% | +32.5% | -2.4% | -1.5% | ||||
| Profit YoY | -1.2% | +0.6% | -51.2% | -58.4% |
Consolidated figures where filed. Latest quarter Jun 2026.
Profit & loss (yearly)
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 | TTM |
|---|---|---|---|---|---|---|
| Revenue | 625 | 737 | 1,743 | 3,557 | 4,397 | 4,385 |
| EBITDA | -312 | -257 | 255 | 744 | 891 | 861 |
| Net profit | -427 | -667 | -40 | 448 | 405 | 344 |
| EPS (₹) | -4.84 | -5.14 | -0.41 | 2.77 | 2.65 | 2.41 |
| Revenue growth | +18.0% | +136.5% | +104.1% | +23.6% | +17.1% | |
| Profit growth | – | – | – | -9.6% | -31.4% | |
| Dividend / share (₹) | – | – | – | – | – |
| Compounded growth | 3 years | 5 years | Last 12 months |
|---|---|---|---|
| Sales | +81.4% | +44.0% | +17.1% |
| Net profit | – | – | -31.4% |
| EPS | – | – | – |
| Share price | – | -46.3% (2y) | -58.0% |
Balance sheet
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Shareholders' equity | – | 1,736 | 1,697 | 5,047 | 6,382 |
| Borrowings | – | 2,382 | 3,248 | 1,466 | 1,551 |
| Cash & equivalents | – | 272 | 54 | 394 | 612 |
| Total assets | – | 6,083 | 6,795 | 8,795 | 12,068 |
| Fixed assets | – | 1,569 | 1,494 | 1,980 | 2,490 |
| Capital work in progress | – | 123 | 266 | 296 | 247 |
| Investments | – | 0 | 0 | 265 | 550 |
| Receivables | – | 827 | 1,137 | 2,688 | 4,250 |
| Inventory | – | 1,130 | 1,245 | 1,352 | 1,790 |
| Payables | – | 606 | 605 | 1,065 | 1,190 |
Year-end figures from the March annual filing.
Cash flow
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Cash from operations | -422 | -1,099 | -147 | 138 | -598 |
| Cash from investing | -127 | 231 | -740 | -406 | -850 |
| Cash from financing | 486 | 824 | 878 | 277 | 1,558 |
| Capex | 179 | 388 | 751 | 620 | 649 |
| Free cash flow | -601 | -1,487 | -898 | -483 | -1,247 |
Free cash flow = cash from operations − capex.
Ratios by year
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| ROE % | – | -38.4% | -2.4% | 8.9% | 6.3% |
| ROCE % | – | -8.5% | 4.1% | 10.8% | 10.8% |
| Debtor days | – | 410 | 238 | 276 | 353 |
| Inventory days | – | 843 | 441 | 238 | 268 |
| Payable days | – | 452 | 214 | 188 | 178 |
| Cash conversion cycle (days) | – | 801 | 465 | 326 | 443 |
| Working capital days | – | 123 | -216 | 202 | 317 |
Shareholding
| Holder | % (2026-09-30) |
|---|---|
| Promoters | 44.18% |
| FIIs | 12.17% |
| DIIs | 9.80% |
| of which Mutual funds | 9.06% |
| of which Insurance | 0.35% |
| Government | 0.00% |
| Public (non-institutions) | 33.85% |
| Quarter | Jun 2025 | Jun 2025 | Aug 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters % | 44.18% | 44.18% | 44.18% | 44.18% | 44.18% | 44.18% | 44.18% | 44.18% |
| Promoter group | % |
|---|---|
| Inox Leasing And Finance Limited | 27.54% |
| Devansh Trademart LLP | 8.80% |
| Aryavardhan Trading LLP | 5.99% |
| Vivek Kumar Jain | 1.85% |
| Devansh Jain | 0.00% |
| Nandita Jain | 0.00% |
| Public holders above 1% | % |
|---|---|
| ICICI Prudential Energy Opportunities Fund | 3.57% |
| Smallcap World Fund, INC | 2.17% |
| Akash Bhanshali | 1.75% |
| Ishares II Public Limited Company - Ishares Global Clean Energy Transition Ucits ETF | 1.43% |
| Bandhan Small CAP Fund | 1.31% |
| Lend Lease Company (India) Ltd. | 1.29% |
5,35,204 shareholders. Pledged: 9.39% of promoter shares.
Peers in Heavy Electrical Equipment
| Company | Market cap | P/E | P/B | ROE | ROCE | OPM | Sales 3y | Div yield |
|---|---|---|---|---|---|---|---|---|
| BHEL | ₹1,37,384 cr | 47.7x | 5.1x | 11.2% | 13.5% | 10.1% | +13.1% | 0.12% |
| ABB | ₹1,34,715 cr | 45.1x | 14.4x | 36.1% | 22.4% | 14.0% | – | – |
| CGPOWER | ₹1,31,237 cr | 104.9x | 16.5x | 16.5% | 21.3% | 12.5% | +30.7% | 0.16% |
| POWERINDIA | ₹1,19,751 cr | 104.0x | 23.1x | 24.5% | 29.9% | 14.9% | +22.2% | 0.02% |
| SIEMENS | ₹1,16,725 cr | 35.6x | 8.4x | 25.0% | 14.2% | 10.0% | +41.0% | 0.37% |
| ENRIN | ₹98,074 cr | 65.9x | 20.4x | 34.3% | 42.0% | 20.9% | – | 0.14% |
| GVT&D | ₹97,043 cr | 74.3x | 36.1x | 58.5% | 65.5% | 25.2% | +30.8% | 0.13% |
| SUZLON | ₹51,051 cr | 16.3x | 5.4x | 40.4% | 29.2% | 17.7% | +41.0% | – |
| THERMAX | ₹35,902 cr | 60.5x | 6.5x | 11.3% | 12.5% | 8.6% | +9.8% | 0.44% |
| INOXWIND | ₹10,093 cr | 24.2x | 1.6x | 6.0% | 10.6% | 19.6% | +81.4% | – |
Dividends & corporate actions
| Ex-date | Action | Detail |
|---|---|---|
| 2025-07-29 | Rights | Rights 5:78 @ Premium Rs 110/- |
| 2024-05-24 | Bonus | Bonus 3:1 |
| 2022-09-20 | Other | Annual General Meeting |
| 2021-09-22 | Other | Annual General Meeting |
| 2020-09-15 | Other | Annual General Meeting |
| 2019-09-06 | Other | Annual General Meeting |
| 2018-07-04 | Other | Annual General Meeting |
| 2017-09-19 | Other | Annual General Meeting |
| 2016-09-14 | Other | Annual General Meeting |
| 2015-09-14 | Other | Annual General Meeting |
Documents
- Annual report FY26
- Annual report FY25
- Annual report FY24
- Annual report FY23
- Annual report FY22
- Announcements NSE filings
- BRSR FY26
- Latest results (data file) XBRL
- Announcements BSE filings
Links go to the original files on the exchange website.
About the company
- Manufacturing of Wind Turbine Generators and its component: Manufacturing
- Sale of Services: Services
| Sector | Industrials |
| Industry | Heavy Electrical Equipment |
| Sub-industry | Heavy Electrical Equipment |
| Symbol | INOXWIND |
| BSE code | 539083 |
| ISIN | INE066P01011 |
| Face value | ₹10.0 |
| Incorporated | 2009-04-09 |
| Website | inoxwind.com |
| Plants (India / abroad) | 4 / 0 |
From the company's filings (BRSR FY26).
Data built 2026-10-22 from NSE company filings (XBRL: Integrated Filing - Financials + financial results), NSE shareholding & pledge data; price = NSE close 2026-10-26.