Inox Wind Limited – Q1 FY26 Results Summary
Announcement Date: 14 August 2025

Key Financial Metrics (₹ Lakhs):

  • Consolidated Revenue: ₹82,625 (Q1 FY26) vs ₹1,27,482 (Q4 FY25), ↑29% YoY from ₹63,957 (Q1 FY25)
  • Consolidated EBITDA: ₹22,000 (Q1 FY26) vs ₹29,012 (Q4 FY25), ↑39% YoY from ₹15,848 (Q1 FY25)
  • Consolidated Net Profit: ₹9,734 (Q1 FY26) vs ₹19,034 (Q4 FY25), ↑134% YoY from ₹4,159 (Q1 FY25)
  • Consolidated EPS: ₹0.60 (Q1 FY26) vs ₹1.17 (Q4 FY25), ₹0.24 (Q1 FY25)
  • Standalone Revenue: ₹71,559 (Q1 FY26), EBITDA ₹15,548, Net Profit ₹8,671, EPS ₹0.53

Balance Sheet / Other Financials:

  • Work-in-progress inventory at ₹20,822 Lakhs as of June 30, 2025 (stable QoQ).
  • No explicit capex disclosed.
  • Provision of ₹1,346 Lakhs recognized as an exceptional item for doubtful inter-corporate deposits in subsidiary.
  • Paid-up equity share capital stable at ₹1,62,413 Lakhs.

Management Commentary & Corporate Developments:

  • Investments in 6 SPVs under SECI face regulatory delays; bank guarantees of ₹5,578 Lakhs invoked; appeals pending with CERC. Management expects no material impact beyond provisions.
  • Merger of Inox Wind Energy Limited into Inox Wind Limited effective May 23, 2025, accounted as common control transaction.
  • Sale of subsidiary Inox Clean Energy Limited completed in Nov 2024 for ₹29,000 Lakhs.
  • Proposed demerger of Power Evacuation business approved by Board; awaiting NCLT approval.
  • O&M revenue recognized on a straight-line basis; ₹11,878 Lakhs of O&M services rendered but not yet billed.
  • Related party transactions in stock-in-trade significant (₹3,934 Lakhs in Q1 FY26).
  • 11.5 lakh stock options granted to employees at ₹137.96/share on 14 Aug 2025.

Segment Performance:

  • Operates in a single business segment: manufacturing of WTGs, EPC, O&M, and related infrastructure services.
  • Power generation segment below reporting threshold; no geographic segment data provided.

Outlook:

  • No explicit financial guidance provided.
  • Management highlights ongoing regulatory challenges with SPVs but remains confident of recovery and no material adverse impact beyond existing provisions.

Audit:

  • Limited review with no qualifications or adverse remarks. Emphasis of matter on SPVs, litigation, and party balances noted.

This summary encapsulates Inox Wind Limited’s Q1 FY26 financial performance, key operational issues, and corporate actions relevant for investment analysis.