INOXWINDCapital Goods

Inox Wind Limited

Heavy Electrical Equipment · ISIN INE066P01011 · BSE 539083 · NSE EQ · FV ₹10
Last price
₹74
-0.54%today
What this company does

Inox Wind Limited operates in Heavy Electrical Equipment, part of the Capital Goods sector. It booked ₹814 cr of revenue in its latest quarter (Q1 FY27) and kept 5.4% of sales as profit.

Wind Limited Our presence Inox Wind Limited (IWL) stands as one of India’s prominent players in the wind energy sector, offering comprehensive solutions from the concept through to operations and maintenance.
In the report:
38out of 100
Equitytale Health Score
Strained

Healthier than 38% of companies in Capital Goods, on all six measures of filed financials. Each measure is ranked against the 16–113 companies that reported it.

Measures financial condition, not whether to buy. Learn what this score means · How this is calculated

Price momentum
neutral
RSI (14)
47

At close. Not part of the score.

Profitability & returns13

How much profit it earns on the money it employs

Balance sheet30

How much it owes, and whether earnings cover the interest

Cash quality2

Whether reported profit actually arrives as cash · lowest in its sector on what we could measure

Growth & consistency75

Whether sales and profit have grown, and how steadily

Valuation65

What today's price implies, against our models or its peers

Governance & risk78

How much of the promoters' stake is pledged, and how much they hold

Is this company doing well?
not investment advice
Strengths
Makes a profit
Promoters hold 44%
Watch-outs
! Thin 5.4% net margin
! Profit down 58% vs last year
! 8.1% of promoter stake pledged
! Low 2.8% return on equity
! Operating cash flow is negative

What if I invest in INOXWIND?

Set a growth rate and see what a monthly SIP would add up to. Your assumption, our arithmetic.

You would put in
₹12.00 lakh
120 instalments
At 10% a year, it would become
₹20.15 lakh

The starting rate is a round number, not a view on this company — this is your assumption, and the figure above is arithmetic on it. Returns are not steady year to year, and a real holding would not grow in a straight line. We do not publish price targets or predict returns.

Key ratios · latest quarter + price
₹74 -0.54%
latest close · 2026-09-17
1-year return
+184.5%
52-wk low ₹2052-wk high ₹81
Is it cheap or expensive?
What you pay for the profits, book value and cash flow. Higher isn't automatically worse — it can signal faster growth.
P/E ratio50.1High
LowAverageHigh
P/B ratio2.01Moderate
Below bookModerateHigh
EV / EBITDA16.9High
LowAverageHigh
How good is the business?
How much profit it earns from its money and its sales.
Return on equity2.8%Weak
WeakFairStrong ▸15%
Return on capital7.3%Weak
WeakFairStrong
Net margin5.4%Decent
ThinDecentStrong
EBITDA margin25.8%Healthy
ThinDecentHealthy
Is it financially safe?
How much it owes, and whether it can comfortably cover it.
Debt to equity0.20Comfortable
LowModerateHigh ▸1
Interest cover2.7×Okay
RiskyOkayStrong ▸5×
Current ratio2.01Ample
Tight ◂1HealthyAmple
More figures
Market cap
₹12,806 cr
Book value
₹37
EPS
₹0.37
latest quarter
Net debt
₹1,421 cr
owes more than its cash
Enterprise value
₹14,227 cr
EBITDA
₹840 cr
annualised
EBIT
₹606 cr
annualised
Operating margin
18.6%
Return on assets
1.5%
Earnings yield
2.00%
P/S
3.93
Sales / share
₹18.8
Tax rate
32.3%
Face value
₹10
Shares
172.8 cr
Working capital
₹3,822 cr
Current assets
₹7,612 cr
Current liabilities
₹3,790 cr
Delivery %
37.6%
Strong / safeFairWeak / riskyValuation — a level, not good/badBands are general rules of thumb, not advice.

P/E, ROE, ROCE and margins are annualised from the latest quarter; per-share and balance-sheet ratios use the most recent balance sheet on file · prices as of 2026-09-17.

Worth vs price · from the FY 2024 report & filings
not investment advice
Hard to value confidentlyLow confidence
One year's profit is a one-off (far above the multi-year norm), so its recurring earnings power is unclear.
Models span ₹1₹1, midpoint ₹1

An educational model from the company's own filings, every assumption shown — not investment advice or a price target. Prices can stay above or below any model for years.

P&L · Q1 FY27 (consolidated)
Revenue from Operations₹814 cr
Other Income₹58 cr
Total Income₹872 cr
Cost of Materials₹446 cr
Purchases of Stock-in-Trade₹15 cr
Inventory Change (±)₹-77 cr
Employee Benefit Expense₹50 cr
Finance Costs₹57 cr
Depreciation & Amortisation₹59 cr
Other Expenses₹227 cr
Total Expenses₹777 cr
Profit before Tax₹95 cr
Tax Expense₹31 cr
Net Profit₹64 cr
Net margin on total income7.4%
Where the money goes · Q1 FY27
% of total income
Materials + stock-in-trade₹385 cr44.1%
Employee benefit expense₹50 cr5.8%
Finance costs₹57 cr6.5%
Depreciation & amortisation₹59 cr6.7%
Other expenses₹227 cr26.0%
Tax expense₹31 cr3.5%
Profit for the period₹64 cr7.4%
Total income ₹872 cradds up to ₹100 ✓
Quarterly results · consolidated (₹ cr)
MetricQ3 FY26Q4 FY26Q1 FY27
Revenue1,207 cr1,244 cr814 cr
Total income1,238 cr1,306 cr872 cr
Expenses1,029 cr1,162 cr777 cr
Profit before tax209 cr144 cr95 cr
Tax83 cr38 cr31 cr
Net profit (owners' share)117 cr91 cr44 cr
Net margin (owners' share, on revenue)9.7%7.3%5.4%
EPS (₹)0.730.610.37
YoY (latest quarter): total income +1.1% · net profit -58.4%
Balance sheet & cash flow · as of Mar 2026
Low debt
Total assets
₹12,068 cr
Shareholder equity
₹6,382 cr
parent shareholders
Total debt
₹1,551 cr
Cash
₹131 cr
Cash flow · H1 FY26
Operating
₹-420 cr
Investing
₹-259 cr
Financing
₹708 cr
Peer comparison
Heavy Electrical Equipment · by market value
CompanyPriceMarket capP/E
Siemens Limited₹3,764₹8.37 L cr97.6
ABB India Limited₹7,131₹1.51 L cr102.1
Bharat Heavy Electricals Limited₹429₹1.49 L cr99.4
Hitachi Energy India Limited₹31,230₹1.39 L cr118.3
CG Power and Industrial Solutions Limited₹880₹1.39 L cr110.6
GE Vernova T&D India Limited₹4,341₹1.11 L cr76.5
Siemens Energy India Limited₹3,109₹1.11 L cr62.8
Suzlon Energy Limited₹43₹58,505 cr48.3
Thermax Limited₹3,570₹40,210 cr398.4
Same industry · latest reported numbers · not a recommendation.
Corporate actions
ActionDetailEx-date
Rights issue78:529 Jul 2025
Bonus issue1:324 May 2024
Who owns it · 2026-06-30
8.1% pledged
Promoter
44.2%
FII / Foreign
14.5%
DII / Domestic
10.0%
Retail / others
31.3%
Promoter stake down 8.7% over the last 12 quarters.
Smart-money activity
Insider trades
BoughtDevansh Trademart LLP · Promoter Group30.00 L · ₹22.2 cr25 Aug 26
SoldINOX LEASING AND FINANCE LIMITED · Promoter30.00 L · ₹22.2 cr25 Aug 26
BoughtVivek Kumar Jain · Promoter Group1.27 L16 Feb 26
Bulk / block deals
short · NSE50016 Sep 26
short · NSE1,0124 Sep 26
short · NSE3003 Sep 26
Stake changes
BoughtDevansh Trademart LLP · promoter→ 8.80% · 30.00 L25 Aug 26
SoldInox Leasing and Finance Limited · promoter→ 27.54% · 30.00 L25 Aug 26
SoldSMALLCAP World Fund, Inc.→ 3.09% · 1.40 cr10 Aug 26
Promoter pledges
PledgedRBL Bank Limited7.00 L · 0.00% held28 Feb 24
PledgedSKS Fincap Private Limited5.20 L · 3.33% held9 Mar 22
PledgedRadhamani India Limited1.50 L · 3.57% held9 Mar 22
What shareholders were asked to approve
1 proposal passed only on promoter votes

A company cannot decide everything on its own. Things like a top executive’s pay, issuing new shares, or re-appointing a director have to be put to the people who own the company, and they vote — one vote per share. So whoever owns the most shares has the most say.

Special shareholder meeting · 13 Aug 2026
See the official result
1
Approval of material related party transactions
Promoters had a personal stake in this
Backed by 94% of shareholders other than promotersneeded 50%
39.98 cr votes for, 2.55 cr against · 7% of mutual funds and other big investors said no

Every vote count above is taken from the result the company filed with the stock exchange, certified by an independent counter. To work out what would have happened without the promoters, we simply remove their votes and re-apply the same legal bar the proposal had to clear. Nothing here is an estimate or an opinion.

Who controls this company, and what it pays them

Most Indian companies are controlled by a family or group — the promoters. The exchange requires them to be listed by name, including members who own no shares at all, and requires the company to disclose any business it does with them.

The promoter group — 6 named members
owning 44.2% between them · as of 2026-06-30
Inox Leasing And Finance Limited27.71%
Devansh Trademart LLP8.62%
Aryavardhan Trading LLP5.99%
Vivek Kumar Jain1.85%
Devansh Jainno shares
Nandita Jainno shares
Business done with them
FY2025 · 1 of the group
The company paid ₹2 cr to companies in the promoter group last year — about 0.0% of its ₹3,557 cr revenue and received ₹1 cr back from them.
Inox Leasing and Finance Limited
Other payments to them
also owns 27.71% of the company
₹2 cr
company paid
Inox Leasing and Finance Limited
Contribution received from them
also owns 27.71% of the company
₹1 cr
company received

The company also transacted with 9 other related parties — subsidiaries, joint ventures, directors and others — that we could not match by name to the promoter list above. Some may still be connected to the family; we only count the ones the filings let us match with certainty.

Names and holdings from the company’s shareholding pattern filed with the exchange; transactions from the related-party note in its annual report. Every figure is as filed — these are legal, disclosed dealings, and what to make of them is your call.

Money it raised, and what it did with it

When a company raises money from investors, it has to say up front what the money is for. The rules then make it report, every three months until the money is gone, how much of each of those things it has actually paid for — so a promise made while asking for the money can be checked afterwards.

₹1,249 cr raised in Aug 2025 by offering new shares to existing shareholders

As of Jun 2026, the company says it has spent 100% of what it set aside. CARE Ratings Limited watches the spending on the exchange’s behalf.

Repayment/redemption of NCPRPS issued to the Promoter
100%
₹560 cr of ₹560 cr
Prepayment and/ or repayment, in full or in part, of certain borrowings availed by the Company (including interest)
100%
₹159 cr of ₹159 cr
Investment in Inox Renewable Solutions Limited ("IRSL''), for repayment/pre-payment, in full or in part, of certain borrowings availed by IRSL including redemption of non-convertible debentures, which investment may be undertaken not only by way of equity investment but also through other permissible modes including, without limitation, non-convertible preference shares, inter-corporate deposits, debentures such or instruments as may be permissible under applicable law and regulations.
100%
₹250 cr of ₹250 cr
General corporate purposes
spent more than set aside
100%
₹274 cr of ₹274 cr
Issue expenses
100%
₹7 cr of ₹7 cr
Spent by quarter: 85%96%100%100% (to Jun 2026)

Every figure above is taken from the statement the company files with the stock exchange each quarter, for as long as money it has raised remains unspent. The only thing we work out is how much of each stated purpose has been paid for — one number divided by another from the same filing. Whether a plan that changed was a good change is not something a filing can tell you. See the filing

How the stock has moved · adjusted for splits & bonuses
Data from primary exchange filings · analysis tool, not investment advice.