Indowind Energy Limited (INDOWIND) AI Stock Analysis

• Market Cap: ₹1.98B
• Dividend Yield: N/A
• Average Volume (3M): 25.55K
• Price to Earnings (P/E): 101.5
• Beta (1Y): 1.61
• Revenue Growth: 0.25%
• EPS Growth: -76.76%
• Country: IN
• Employees: 69
• Sector: Energy
• Sector Strength: 52
• Industry: Renewable Utilities
• EPS (TTM): 0.18
• Shares Outstanding: 128,801,740
• 10 Day Avg. Volume: 27,871
• 30 Day Avg. Volume: 25,550
• PEG Ratio: -2.03
• Price to Book (P/B): 0.78
• Price to Sales (P/S): 6.49
• P/FCF Ratio: -7.11
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: Hold
• Number of Analyst Covering: 0

• Rating: 47 Neutral
• Price Target: ₹17.50 ▲(9.44% Upside)

Indowind Energy's overall stock score is primarily impacted by its financial performance challenges, including inconsistent revenue and cash flow issues. Technical analysis indicates bearish momentum, with the stock trading below key moving averages. Additionally, the high P/E ratio suggests overvaluation, further weighing down the stock's attractiveness.

Indowind Energy Limited Business Overview & Revenue Model

Company Description

Indowind Energy Limited (INDOWIND) is a renewable energy company based in India, primarily engaged in the development and operation of wind energy projects. The company focuses on harnessing wind power through the installation and maintenance of wind turbines, contributing to the growing demand for sustainable energy solutions. With a commitment to reducing carbon footprints, INDOWIND plays a crucial role in the renewable energy sector, providing clean energy to its clients and promoting environmental sustainability.

How the Company Makes Money

Indowind Energy Limited generates revenue primarily through the sale of electricity produced by its wind power projects. The company operates wind farms and sells the generated power to various state electricity boards and private sector companies under long-term power purchase agreements (PPAs). This predictable revenue stream is complemented by government incentives and subsidies for renewable energy producers, which further support its financial performance. Additionally, INDOWIND may engage in the sale of carbon credits, thereby diversifying its income sources. Strategic partnerships with other energy firms and participation in renewable energy auctions can also enhance its competitive edge and profitability.

Indowind Energy Limited Financial Statement Overview

Summary

Indowind Energy faces challenges with profitability and cash flow management, despite a strong equity position. The revenue trajectory is inconsistent, and the company must address operational inefficiencies to stabilize earnings and improve liquidity. While the balance sheet shows reduced leverage, ensuring sustainable cash flow generation is crucial for future growth.

Income Statement

Indowind Energy's revenue has seen fluctuations over recent years, with a significant decline from 2024 to 2025. The gross profit margin is healthy, but profitability is challenged, evident from the declining EBIT and net profit margins. Net income has deteriorated, pointing to potential operational inefficiencies.

Balance Sheet

The balance sheet shows a strong equity position with a high equity ratio, indicating stability. However, the debt-to-equity ratio has improved significantly in 2025, suggesting a reduction in leverage. The return on equity has been volatile, affected by inconsistent net income.

Cash Flow

Cash flow analysis reveals negative free cash flow growth, posing liquidity challenges. The operating cash flow to net income ratio is negative in recent periods, signaling potential cash flow management issues. Free cash flow to net income ratio is also concerning, highlighting cash generation difficulties.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	380.89M	335.13M	397.06M	339.56M	245.56M	186.09M
Gross Profit	315.52M	170.74M	231.99M	203.90M	122.06M	139.50M
EBITDA	151.35M	128.42M	168.59M	80.25M	89.63M	116.36M
Net Income	19.49M	12.63M	72.64M	-192.59M	1.27M	2.19M
Balance Sheet
Total Assets	0.00	3.05B	3.12B	3.13B	2.88B	2.92B
Cash, Cash Equivalents and Short-Term Investments	12.13M	46.63M	4.78M	217.62M	15.93M	40.10M
Total Debt	0.00	69.66M	551.89M	600.52M	560.57M	607.15M
Total Liabilities	-2.79B	257.86M	745.01M	824.77M	570.78M	622.62M
Stockholders Equity	2.79B	2.79B	2.37B	2.30B	2.30B	2.29B
Cash Flow
Free Cash Flow	0.00	-305.81M	-93.29M	1.29M	14.13M	57.28M
Operating Cash Flow	0.00	-105.04M	-80.53M	3.25M	14.13M	60.44M
Investing Cash Flow	0.00	-231.05M	439.63M	47.78M	26.27M	9.16M
Financing Cash Flow	0.00	348.48M	-571.94M	150.66M	-64.57M	-48.48M

Indowind Energy Limited Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 15.99
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:INDOWIND, the sentiment is Negative. The current price of 15.99 is below the 20-day moving average (MA) of 16.00, below the 50-day MA of 16.76, and below the 200-day MA of 18.94, indicating a bearish trend. The MACD of -0.31 indicates Negative momentum. The RSI at 46.29 is Neutral, neither overbought nor oversold. The STOCH value of 59.56 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:INDOWIND.

Indowind Energy Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TDPOWERSYS	72 Outperform	₹100.57B	54.06	―	0.29%	30.63%	48.78%
Sector *	65 Neutral	$15.17B	7.61	4.09%	5.20%	3.87%	-62.32%
INOXGREEN	64 Neutral	₹95.79B	251.23	―	―	14.36%	3.96%
WEBELSOLAR	62 Neutral	₹51.75B	26.01	―	―	397.23%	―
BORORENEW	56 Neutral	₹87.84B	―	―	―	4.94%	-328.07%
INDOWIND	47 Neutral	₹1.98B	101.52	―	―	0.25%	-76.76%
SWSOLAR	43 Neutral	₹52.96B	51.96	―	―	112.24%	-474.43%