Inox Wind Limited has submitted to the Exchange, the financial results for the period ended March 31, 2026.
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. Profit after tax grew 42.5% to Rs 54,746 lakh from Rs 38,406 lakh, with EBITDA margin expanding from 18.5% to 23.2%. However, Q4 PAT declined sharply to Rs 8,755 lakh from Rs 18,968 lakh in Q4 FY25. Operating cash flow turned negative at Rs 69,698 lakh, a significant deterioration from Rs 1,826 lakh positive in FY25, driven by a Rs 1,51,045 lakh increase in trade receivables and Rs 58,504 lakh rise in inventories. The company completed a Rs 1,249.33 crore rights issue during the year. Auditors issued unmodified opinions but drew emphasis of matter on Rs 5,578 lakh bank guarantees invoked for 6 SPVs where project extensions were rejected, with appeals pending at APTEL.
Strong profitability growth masks concerning cash flow deterioration. The negative operating cash flow and rising working capital requirements (receivables up 54%, inventories up 66%) could pressure liquidity. The Rs 1,249 crore rights issue provides some buffer, but the unresolved SPV investments remain a contingent risk for shareholders.