Indowind Energy Limited has informed the Exchange regarding Appointment of Mr BASKARAN BR and Sridhar as Independent Director of the company w.e.f. September 26, 2025.
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Indowind Energy's board, at its August 12, 2025 meeting, approved unaudited Q1 FY26 results showing consolidated revenue rising about 57% year-on-year to ₹1,155.15 lakhs (from ₹736.66 lakhs) and profit after minority interest of ₹229.45 lakhs versus ₹160.80 lakhs in Q1 FY25. Standalone revenue grew roughly 72% to ₹879.06 lakhs with a profit of ₹156.28 lakhs. The board fixed September 26, 2025 as the date for the 30th AGM (via video conferencing) with record date of September 19, 2025, and recommended appointing Mr. Baskaran B R (former Income Tax Appellate Tribunal member, CA and advocate) and Mr. Sridhar (media professional, currently a Non-Executive Director) as Independent Directors for five-year terms subject to shareholder approval. The auditor (Venkatesh & Co) issued a qualified review opinion flagging non-recognition of ₹248.13 lakhs in credit-loss allowance on receivables, unresolved accounting around a ₹9,083.39 lakhs Suzlon arbitration claim, and an ongoing ₹100 lakhs Bank of Baroda guarantee dispute.
Strong top-line growth and a return to profit are positives for shareholders, but the auditor's qualified opinion on receivables, the Suzlon dispute and the long-pending bank guarantee case highlight unresolved risks that could weigh on the stock. The induction of two experienced Independent Directors is a neutral-to-positive governance signal, pending shareholder approval at the AGM.