Financial Results - Quarter and Financial Year ended -2025-26
INOXWIND · price
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Inox Wind Limited reported standalone revenue of Rs 3,89,640 lakh for FY26, up 11.4% from Rs 3,49,874 lakh in FY25. PAT grew 42.5% to Rs 54,746 lakh from Rs 38,406 lakh, while EBITDA (without exceptional items) rose to Rs 1,01,527 lakh from Rs 71,088 lakh. The auditors issued an unmodified opinion with two emphasis of matter notes: one on Rs 5,578 lakh bank guarantees invoked for 6 SPVs (wind farm projects where extensions were rejected and the company may appeal at APTEL), and another on certain O&M contract billing. The company raised Rs 1,249.33 crore via a rights issue during the year and completed a rights entitlements offering in August 2025.
Strong bottom-line growth with PAT up 42.5% is positive, but the large negative operating cash flow of Rs 69,698 lakh driven by rising receivables and inventory raises working capital concerns. The unresolved SPV dispute involving Rs 5,578 lakh of invoked bank guarantees adds legal and financial risk.