Q1 FY27 results: revenue down about 27 percent, auditor gives qualified review
INDOWIND · price
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Indowind Energy Q1 FY27 (June 2026): consolidated revenue fell to Rs 843.58 lakhs from Rs 1,155.15 lakhs YoY (about 27% lower). Consolidated PAT Rs 199.38 lakhs vs Rs 229.45 lakhs. Company blames delayed wind season. Auditor Venkatesh and Co gave a qualified review, flagging about Rs 2,340 lakhs of Suzlon-related advances and receivables without evidence, a Rs 102 lakhs Bank of Baroda claim pending since 2007, and Rs 7,454 lakhs of IVL merger goodwill with no impairment test. AGM set for 25 Sept 2026.
Sharp revenue fall and a qualified auditor review over Suzlon receivables and un-tested goodwill are negatives; may concern investors about asset quality.