Inox Wind Limited has informed the Exchange regarding Outcome of Board Meeting held on August 14, 2025.
INOXWIND · price
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Inox Wind's board approved its Q1 FY26 (quarter ended June 30, 2025) unaudited results. Standalone revenue from operations rose about 18% year-on-year to ₹715.6 crore, with profit after tax of ₹86.7 crore (up ~17%) and EBITDA of ₹155.5 crore (up ~28%). On a consolidated basis, revenue grew ~29% to ₹826.3 crore, while PAT more than doubled to ₹97.3 crore and EBITDA rose ~39% to ₹220 crore, with EBITDA margin expanding to about 25.5%. The auditor's limited review report carries an Emphasis of Matter on funds invested in 6 SPVs (bank guarantees invoked, appeals pending at CERC), pending court/appellate litigation, and certain unbilled O&M dues of ₹118.8 crore. The board also appointed M/s J.K. Gupta & Associates as secretarial auditors for five years (FY26–FY30) and granted 11.5 lakh stock options to eligible employees at ₹137.96 per share under the ESOP 2024 scheme. Prior-period figures have been restated to reflect the merger of Inox Wind Energy Limited into the company, effective May 23, 2025.
Q1 FY26 shows a strong operational beat with double-digit revenue growth, margin expansion, and a more-than-doubled consolidated PAT, which is likely to be viewed positively by the market. However, investors should track the SPV-related exposures, pending litigation, and large unbilled O&M receivables flagged by the auditor, as these are key overhangs. The ESOP grant of 11.5 lakh shares (about 0.7% dilution if fully exercised) and the new secretarial auditor are routine governance items.