Investor Presentation
INOXWIND · price
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Inox Wind reported FY26 total income of Rs 4,569 crore (up 23% YoY) with EBITDA of Rs 1,232 crore (up 25% YoY) and PAT of Rs 449 crore (up 3% YoY). Q4 FY26 saw revenue of Rs 1,306 crore with EBITDA margin of ~25.5%. The company has a robust order book of ~3.1 GW providing revenue visibility for over 24 months, and won ~600 MW of orders in FY26 from customers including Aditya Birla, Amplus/Gentari, Jakson, First Energy and Leap Green. Management is pivoting strategically from turnkey solutions to equipment supply (targeting ~75% equipment sales vs current ~25%), and FY27 guidance projects 75% revenue growth over FY26 with EBITDA margin of 20-22%. Challenges include working capital pressures from customer payment delays and ECS supply disruptions.
The strategic shift toward higher-margin equipment sales and strong order pipeline support multi-year revenue visibility, though near-term margin guidance of 20-22% suggests some compression as the business model transition takes effect. Net cash position and strong credit ratings (A+ by CRISIL and CARE) provide financial flexibility.