The shares of Inox Wind Energy Limited were trading at ₹11,269 down by ₹299 or 2.58 per cent on the NSE today at 10.33 am.
Inox Wind reported revenue of ₹1,280 crore for Q4FY25, marking a 142 per cent year-on-year increase, driven by higher execution of 236MW compared to 129MW in the previous year.
However, the wind turbine manufacturer fell short of management’s annual execution guidance of 800MW, achieving only 705MW for the full fiscal year.
The company’s EBITDA margin stood at 20 per cent in Q4FY25, slightly up from 19 per cent in Q4FY24, while adjusted profit after tax reached ₹190 crore, representing a three-fold increase year-on-year. Blended realization improved to ₹5.4 crore per MW from ₹4.1 crore per MW in the corresponding quarter last year.
Inox Wind’s order book expanded to 3.2GW as of March 2025, up from 2.6GW the previous year, with new orders totaling 1.5GW from clients including Hero Future Energies and Serentica Renewables. The order book comprises 1.4GW equipment supply orders and 1.8GW EPC orders.
The company completed the amalgamation of Inox Wind Energy Ltd with a swap ratio of 632:10, resulting in a 24.5 per cent increase in total shares to 1.624 billion and reducing balance sheet liability by ₹2,050 crore.
JM Financial maintained its BUY rating with a target price of ₹216, expecting execution to accelerate to 1,150MW in FY26.