Dear sir/Madam, PFA outcome of Board Meeting held on 26th May 2026.
INDOWIND · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Indowind Energy reported audited consolidated results for FY 2025-26 with revenue from operations of ₹4,033.13 Lakhs, up 15% from ₹3,501.25 Lakhs in the previous year. However, profit after tax (PAT) collapsed to just ₹0.57 Lakhs from ₹170.54 Lakhs, a 99.7% decline, due to a ₹244.45 Lakh write-off of interest claims against TANGEDCO & BESCOM. The company also created a new UK-based wholly-owned subsidiary called Nova Future Power Ltd to facilitate international fund-raising. Borrowings increased significantly from ₹1.01 Crores to ₹9.51 Crores during the year. The statutory auditors issued a qualified opinion citing issues with unrecovered advances to Suzlon Global Services (₹1,407.40 Lakhs), unconfirmed receivables from Suzlon Energy (₹845.59 Lakhs), an unverified recoverable from Bank of Baroda (₹102 Lakhs), and failure to test goodwill of ₹7,454.69 Lakhs for impairment.
The near-zero PAT despite 15% revenue growth and the qualified audit opinion signal significant accounting red flags. Shareholders should be cautious as the auditors raised concerns about multiple unverified assets and the company is writing off claims to avoid repeated audit qualifications.