Financial Results- Q4 & FY 2024-24
Awaiting price reaction for this filing.
Inox Wind Energy Limited (IWEL) reported FY25 audited results with standalone net profit after tax of Rs. 86,181 lakh, down from Rs. 1,01,777 lakh in FY24 — a decline of about 15% year-on-year. On a consolidated basis, FY25 showed a turnaround with basic EPS of Rs. 32.27 versus a loss of Rs. 75.63 per share in FY24. During the year, the company sold 4.60% of its subsidiary Inox Wind Limited for Rs. 90,447 lakh and allotted 90 crore 0.01% Non-Convertible Redeemable Preference Shares (NCPRPS) worth Rs. 900 crore. The NCLT has approved the scheme of amalgamation of IWEL into Inox Wind Limited, which is now in the implementation phase. Statutory auditors Dewan P.N. Chopra & Co issued an unmodified (clean) opinion on both standalone and consolidated results, though the consolidated report includes an 'Emphasis of Matter' section flagging 8 items including pending litigation, funds invested in 6 SPVs, unbilled O&M revenue of Rs. 12,412 lakh, and customer settlement matters.
The clean audit opinion supports credibility, but the ~15% YoY drop in standalone PAT and the 8 emphasis-of-matter items (especially customer disputes and pending SPV recovery) signal operational and receivables risks worth monitoring. The ongoing merger with Inox Wind Limited will reshape the listed entity structure and may lead to delisting or share-swap activity for shareholders — investors should watch for further announcements on the scheme implementation.