Inox Wind Ltd. (INOXWIND) AI Stock Analysis

• Market Cap: ₹318.78B
• Dividend Yield: N/A
• Average Volume (3M): 368.51K
• Price to Earnings (P/E): 43.7
• Beta (1Y): 2.53
• Revenue Growth: 83.50%
• EPS Growth: 492.44%
• Country: IN
• Employees: 998
• Sector: Industrials
• Sector Strength: 72
• Industry: Renewable Utilities
• EPS (TTM): 0.60
• Shares Outstanding: 2,169,311,300
• 10 Day Avg. Volume: 427,804
• 30 Day Avg. Volume: 368,512
• PEG Ratio: -0.05
• Price to Book (P/B): 4.07
• Price to Sales (P/S): 5.77
• P/FCF Ratio: -27.52
• 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: ₹188.00
• Price Target Upside: 25.96% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 2

• Rating: 60 Neutral
• Price Target: ₹154.00 ▲(3.18% Upside)

Inox Wind Ltd.'s overall stock score is primarily driven by its strong financial performance, particularly in revenue growth and profitability. However, high leverage and negative free cash flow pose significant risks. Technical analysis indicates mixed signals with short-term bullish momentum but potential bearish trends. The stock's high P/E ratio suggests overvaluation, limiting its attractiveness. The absence of earnings call data and corporate events means these factors did not influence the score.

Inox Wind Ltd. Business Overview & Revenue Model

Company Description

Inox Wind Ltd. is a leading player in the renewable energy sector, primarily focused on the manufacturing and installation of wind turbine generators (WTGs) in India. The company operates in various segments, including the development of wind power projects, providing comprehensive solutions for wind energy generation, and offering operations and maintenance services. Inox Wind is recognized for its innovative technology and high-quality products, catering to both domestic and international markets.

How the Company Makes Money

Inox Wind generates revenue through several key streams. Primarily, the company earns money by manufacturing and selling wind turbine generators, which are crucial for harnessing wind energy. Additionally, Inox Wind is involved in the development of wind power projects, where it invests in and builds wind farms, allowing it to generate and sell electricity. The company also provides operation and maintenance services for its wind projects, creating a steady income from ongoing contracts. Partnerships with various stakeholders in the energy sector, including government initiatives promoting renewable energy, further bolster its revenue. The company's ability to secure long-term power purchase agreements (PPAs) with utilities and corporate buyers also plays a significant role in ensuring predictable cash flows and revenue stability.

Inox Wind Ltd. Financial Statement Overview

Summary

Inox Wind Ltd. demonstrates strong revenue growth and improved profitability, highlighting a positive trend in its income statement. However, the balance sheet reveals a need to manage high leverage, and cash flow challenges persist due to consistently negative free cash flow.

Income Statement

Inox Wind Ltd. has shown a strong recovery in its revenue with a significant growth rate from the previous year. Gross profit and net profit margins have improved, indicating enhanced profitability. However, historical volatility in EBIT and net income suggests potential risks in operational efficiency.

Balance Sheet

The company has strengthened its equity base, resulting in a favorable equity ratio. Despite this, a relatively high debt-to-equity ratio indicates a leveraged position, which could pose risks if not managed carefully. Improved stockholders' equity suggests resilience and capacity for future growth.

Cash Flow

While the free cash flow remains negative, the company has shown improvement in operating cash flow relative to net income. Capital expenditures have been consistently high, impacting free cash flow, but financing activities have supported liquidity needs.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	37.45B	35.57B	17.43B	7.33B	6.25B	7.11B
Gross Profit	12.19B	9.60B	2.86B	-793.72M	1.47B	1.21B
EBITDA	9.69B	8.88B	3.10B	-3.07B	-2.85B	-915.42M
Net Income	5.04B	4.48B	-404.21M	-6.67B	-4.80B	-3.06B
Balance Sheet
Total Assets	0.00	87.95B	67.95B	60.83B	59.65B	54.64B
Cash, Cash Equivalents and Short-Term Investments	3.94B	3.94B	2.81B	2.71B	588.10M	2.42B
Total Debt	0.00	15.00B	32.48B	24.16B	17.54B	16.00B
Total Liabilities	-56.06B	31.89B	46.03B	38.22B	40.95B	41.48B
Stockholders Equity	56.06B	50.47B	16.97B	17.13B	18.28B	13.16B
Cash Flow
Free Cash Flow	0.00	-7.47B	-8.98B	-14.87B	-6.01B	-2.32B
Operating Cash Flow	0.00	-1.26B	-3.60B	-10.99B	-4.22B	-1.12B
Investing Cash Flow	0.00	-4.06B	-5.28B	2.31B	-1.27B	-485.92M
Financing Cash Flow	0.00	5.41B	8.78B	8.24B	4.86B	2.82B

Inox Wind Ltd. Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 149.25
• 50DMA: Positive
• 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:INOXWIND, the sentiment is Positive. The current price of 149.25 is above the 20-day moving average (MA) of 144.37, above the 50-day MA of 144.51, and below the 200-day MA of 160.34, indicating a neutral trend. The MACD of 0.52 indicates Negative momentum. The RSI at 56.52 is Neutral, neither overbought nor oversold. The STOCH value of 63.79 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:INOXWIND.

Inox Wind Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
PARAS	68 Neutral	₹57.23B	88.89	―	0.07%	29.62%	51.41%
THERMAX	67 Neutral	₹374.47B	52.76	―	0.44%	8.14%	-4.46%
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
JTEKTINDIA	62 Neutral	₹42.65B	56.14	―	0.45%	3.94%	-30.18%
INOXWIND	60 Neutral	₹318.78B	43.72	―	―	83.50%	492.44%
LLOYDSENGG	60 Neutral	₹86.59B	70.35	―	0.41%	43.43%	19.88%
ISGEC	56 Neutral	₹65.43B	27.72	―	0.57%	-2.31%	-8.69%

Inox Wind Ltd. Corporate Events

Inox Wind Announces Postal Ballot and E-Voting Details

Inox Wind Limited has announced the publication of a newspaper advertisement regarding the Notice of Postal Ballot and remote e-voting information. The advertisement has been published in the Financial Express and Himachal Dastak newspapers, indicating the completion of dispatch of the Notice of Postal Ballot and providing details about the remote e-voting period. This announcement is part of the company’s compliance with SEBI regulations, ensuring transparency and communication with its stakeholders.

Inox Wind Initiates Electronic Voting for Shareholder Resolutions

Inox Wind Limited has announced the dispatch of a Postal Ballot Notice to its members, seeking approval for resolutions via electronic voting. This move, facilitated by the National Securities Depository Limited, underscores the company’s commitment to leveraging digital solutions for shareholder engagement, potentially enhancing operational efficiency and transparency.

Inox Wind Ensures Shareholder Engagement with Annual Report Dispatch

Inox Wind Limited has announced the dispatch of physical letters to shareholders who have not registered their email addresses, providing them with a weblink to access the company’s Annual Report for the financial year 2024-25 and the Notice of the 16th Annual General Meeting. This move ensures that all shareholders, regardless of their digital connectivity, are informed about the company’s financial performance and upcoming AGM, reflecting Inox Wind’s commitment to transparency and shareholder engagement.

Inox Wind Appoints Madhurima Sayan Das as Independent Director

Inox Wind Limited has announced the appointment of Ms. Madhurima Sayan Das as a Non-Executive Independent Director, effective from September 5, 2025, for an initial term of one year. Ms. Das brings over 30 years of experience in financial advisory services, particularly in mergers and acquisitions, and her expertise is expected to enhance the company’s strategic direction and governance. Her appointment is subject to shareholder approval.

Inox Wind Announces Virtual AGM with Key Resolutions

Inox Wind Limited has announced its 16th Annual General Meeting (AGM) scheduled for September 26, 2025, to be held virtually. Key agenda items include the adoption of financial statements, re-appointment of a director, approval of professional fees for a non-executive director, ratification of cost auditor remuneration, and appointment of secretarial auditors. These decisions are crucial for the company’s operational continuity and governance, impacting stakeholders by ensuring transparency and strategic alignment with industry regulations.

Inox Wind Completes Rights Issue, Boosts Equity Capital

Inox Wind Limited has successfully completed its rights issue, resulting in the allotment of 10,41,10,712 fully paid-up equity shares at an issue price of Rs. 120 per share. This move has increased the company’s paid-up equity share capital significantly, enhancing its financial position and potentially strengthening its market presence.

Inox Wind Reduces Stake in Subsidiary IRSL

Inox Wind Limited has announced the divestment of 49,57,142 equity shares of its material subsidiary, Inox Renewable Solutions Limited (IRSL), for approximately Rs. 175 Crore. This transaction reduces Inox Wind’s stake in IRSL from 91.90% to 88.84%. The divestment is part of a strategic move to optimize the company’s holdings and does not involve any related party transactions, as the shares were sold to third parties.

Inox Wind Sells Stake in Subsidiary for Rs 175 Crores

Inox Wind Limited announced the sale of a stake worth approximately Rs 175 crores in its subsidiary, Inox Renewable Solutions Ltd., at a valuation of around Rs 7,400 crores. This strategic move follows the recent demerger and merger activities involving Inox Green and IRSL, which received approval from stock exchanges. The transaction is expected to enhance Inox Wind’s financial position and strengthen its market presence in the renewable energy sector, potentially benefiting stakeholders through improved operational efficiencies and expanded service offerings.