Indowind Energy Limited has submitted to the Exchange, the financial results for the period ended March 31, 2026.
INDOWIND · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Indowind Energy reported FY2026 total revenue of Rs. 4,075.43 Lakhs, up ~13.8% from Rs. 3,580.98 Lakhs in the prior year. However, profit after tax collapsed to just Rs. 0.57 Lakhs (standalone: Rs. 26.62 Lakhs) from Rs. 170.54 Lakhs, largely due to a Rs. 244.45 Lakh write-off of interest claims on TANGEDCO & BESCOM as an exceptional item. Finance costs surged to Rs. 293.25 Lakhs (from Rs. 194.53 Lakhs), compressing profitability. The auditors issued a qualified opinion citing: (1) Rs. 1,407.40 Lakh advance to Suzlon Global Services and Rs. 845.59 Lakh receivable from Suzlon Energy without adequate audit evidence or Ind AS compliance; (2) Rs. 102 Lakh claim on Bank of Baroda pending since 2007 without confirmation; (3) Rs. 7,454.69 Lakh goodwill from merger not tested for impairment. The company also created a UK subsidiary (Nova Future Power Ltd) for overseas fund-raising. Qualified borrowings surged from Rs. 1.01 Cr to Rs. 9.51 Cr during the year.
The near-zero PAT and qualified audit opinion represent a serious red flag. The auditors question the accounting treatment of Suzlon-related advances and receivables totalling over Rs. 2,250 Lakh, and the untested goodwill raises impairment risk. Rising finance costs and heavy borrowing weigh on profitability, though the 13.8% revenue growth is a partial positive.