Financial Results- Q4 & FY 2024-24
Awaiting price reaction for this filing.
Board of Directors approved audited financial results for Q4 and FY2024-25 on May 30, 2025. Statutory auditors M/s Dewan P.N. Chopra & Co. issued an unmodified (clean) opinion on both standalone and consolidated results. On a standalone basis, profit after tax stood at Rs. 87,180 Lakhs (continuing + discontinuing) for FY25, compared to Rs. 1,01,777 Lakhs in FY24, indicating a year-on-year decline. Consolidated EPS for FY25 was Rs. 115.04 from continuing operations vs Rs. (75.63) loss in FY24. Key corporate actions include: NCLT Chandigarh approved the scheme of amalgamation of Inox Wind Energy Limited with Inox Wind Limited on May 23, 2025; the company sold 4.60% equity in subsidiary Inox Wind Limited for Rs. 90,447 Lakhs; and allotted 90 crore NCPRPS to IWEL for Rs. 900 crores. The auditor flagged 8 emphasis of matter points covering pending litigation, invested funds in 6 SPVs, O&M revenue recognition, work-in-progress inventory, EPCG licenses, and customer disputes.
Clean audit opinion is reassuring for shareholders, but the emphasis of matter highlights several unresolved legal, contractual, and operational risks that warrant close monitoring. The approved amalgamation with subsidiary Inox Wind Limited will streamline the group structure once implemented, while the subsidiary stake sale boosted standalone earnings in FY25.