Inox Wind posts weaker Q4 but guides for 75% revenue growth in FY27
Inox Wind Limited reported a consolidated net profit of Rs 91.3 crore for the quarter ended March 2026, down 51.1% from Rs 186.8 crore in the year-ago period, as geopolitical disruptions and delayed customer payments impacted profitability.
Revenue from operations fell 2.4% year-on-year to Rs 1,244.2 crore. EBITDA declined 21.5% to Rs 200 crore from Rs 254 crore in Q4 FY25, while operating margins narrowed to 16% from 20% a year earlier. Adjusted EBITDA stood at Rs 333 crore and profit before tax was Rs 216 crore.
The company said geopolitical tensions affected equipment supply and logistics operations, while weaker macroeconomic conditions led some customers to defer payments.
Despite the softer quarterly performance, Inox Wind said it ended FY26 with an order book of around 3.1 GW and secured fresh orders of nearly 600 MW during the year from customers including Aditya Birla Group, Gentari, Jakson Group, First Energy, and Leap Green. The active order pipeline exceeds 2 GW.
The company is also shifting its business model towards equipment supply, targeting a long-term order mix of 75–80% equipment supply compared to less than 20% historically. Management said the strategy is aimed at improving cash generation and reducing working capital dependence linked to EPC execution.
During FY26, Inox Clean emerged as the successful bidder for Wind World India’s IPP and O&M businesses through an NCLT-approved process. Inox Neo will acquire around 600 MW of operational renewable assets, while Inox Green will add nearly 4.5 GW of wind O&M assets under management.
For FY27, Inox Wind has guided for revenue growth of around 75% over FY26, with EBITDA margins expected in the range of 20–22%.
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