Inox Wind Limited reported a strong fiscal year 2026, with consolidated revenue rising 23% to Rs 4,569 crore and EBITDA up 25%. Following a successful corporate restructuring and rights issue, the company has cleared substantial debt, achieving a net cash-positive status. A 4.4 GW order book provides clear revenue visibility, supported by a major capacity expansion at the new Ahmedabad facility.
Inox Wind FY26 Results: Profit at Rs 449 Crore
Consolidated revenue stood at Rs 4,569 crore, while consolidated EBITDA reached Rs 1,232 crore.
Reader Takeaway: Strong order visibility and reduced debt provide stability, though turbine certification delays represent a key monitorable risk.
What just happened
Inox Wind Limited delivered a strong financial performance for the year ending March 31, 2026. Consolidated revenue grew to Rs 4,569 crore, up 23% from the previous year, while PAT marginally rose to Rs 449 crore. The company significantly improved its balance sheet through a merger with Inox Wind Energy Limited, reducing liabilities by Rs 2,050 crore and successfully raising Rs 1,249 crore via a rights issue.
Why this matters
The company has transitioned to a net cash-positive position, a major shift for its capital structure. The addition of 1,200 MW of manufacturing capacity at the new Bavla facility prepares the firm for the expected 8-10 GW annual industry growth in India. A robust 4.4 GW order book provides execution visibility for the next 24-36 months.
The backstory
Historically, the wind energy sector faced challenges with project execution and high debt levels. Inox Wind’s recent restructuring simplifies its corporate architecture, allowing it to focus on its 'One Integrated' strategy. The management has successfully navigated temporary board-level compliance lapses regarding independent director requirements, which they state have been fully rectified.
Risks to watch
While the financial outlook is positive, the company is still awaiting ALMM certification for its new 4.X MW turbine platform. Any delay in the commercial launch of this high-value product could impact margins. Investors should also watch for ongoing competitive pressure in the wind power equipment market.
What to track next
Watch for the official commercial launch of the 4.X MW turbine platform later this year and the progress of O&M services expansion through Inox Green Energy Services Limited.