MarketFriction

Indowind Energy Ltd

NSE INDOWIND · BSE 532894 · Power Generation
₹8.44 -2.88%
NSE close2026-10-01
52 week range7.00 - 18.94
Market cap₹143 Cr.
Price band 20% Delivery 76.5%

Price

Drag to pan, scroll or pinch to zoom. Ruler (or Shift + drag) measures a move.Dashed lines: 52 week high and low. Prices adjusted for splits and bonuses.

Financials

Consolidated, Rs crore
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales17.919.734.447.3515.815.566.6311.5517.556.195.278.44
Expenses7.649.005.394.456.824.806.926.347.226.617.333.96
Operating Profit10.270.73-0.952.908.990.76-0.295.2110.33-0.42-2.064.48
OPM %57.34%7.50%-21.40%39.46%56.86%13.67%-4.37%45.11%58.86%-6.79%-39.09%53.08%
Other Income0.050.301.740.020.110.340.000.000.191.67-2.440.00
Interest1.870.660.440.430.560.420.530.272.380.180.100.29
Depreciation4.430.300.321.044.510.741.092.423.610.841.332.40
Profit before tax4.020.070.031.454.03-0.06-1.912.524.530.23-5.931.79
Tax %-23.13%200.00%-2,000.00%-16.55%-9.43%0.00%127.23%-2.38%-1.10%-56.52%26.64%-17.32%
Net Profit4.96-0.070.631.694.42-0.07-4.342.574.570.36-7.512.10
EPS in Rs0.310.000.040.100.270.00-0.270.140.290.03-0.460.12
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales16.8826.0226.1621.9720.6617.9624.5633.9638.8133.5140.7537.45
Expenses9.4811.4915.4515.8212.328.3918.0219.9722.9722.9625.8225.12
Operating Profit7.4014.5310.716.158.349.576.5413.9915.8410.5514.9312.33
OPM %43.84%55.84%40.94%27.99%40.37%53.29%26.63%41.20%40.81%31.48%36.64%32.92%
Other Income7.132.37-17.190.576.332.062.42-5.961.092.30-2.44-0.58
Interest6.796.717.677.005.292.051.892.204.271.952.932.95
Depreciation7.5513.679.509.329.319.326.926.997.107.398.218.18
Profit before tax0.19-3.48-23.65-9.600.070.260.15-1.165.563.511.350.62
Tax %-284.21%-42.82%-11.25%27.71%14.29%15.38%13.33%1,560.34%-30.76%63.82%100.00%
Net Profit0.77-1.99-20.98-12.260.060.220.13-19.267.271.270.01-0.48
EPS in Rs0.04-0.11-1.11-0.650.000.010.01-1.200.450.080.00-0.02
Dividend Payout %0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth9%18%6%-5%
Compounded Profit Growth%%%-108%
Stock Price CAGR9%9%-11%-44%
Return on Equity0%1%1%0%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital89.7489.7489.7489.7489.7489.7489.7489.74107.33107.33128.80161.00
Reserves80.9283.22143.90122.87110.62110.68139.51140.59122.77129.83150.11146.41
Borrowings76.6673.89100.0099.56101.1990.8060.7256.0660.0625.196.979.53
Other Liabilities70.4170.455.531.560.782.541.541.6823.1220.0219.5230.78
Total Liabilities317.73317.30339.17313.73302.33293.76291.51288.07313.28282.37305.40347.72
Fixed Assets155.57199.88228.60198.94189.20180.73245.57166.31159.45235.79248.47245.07
CWIP46.3564.0347.7860.9668.5773.880.960.960.960.960.9612.31
Investments6.128.4110.1510.4610.4610.4110.461.040.040.040.040.04
Other Assets109.6944.9852.6443.3734.1028.7434.52119.76152.8345.5855.9390.30
Total Assets317.73317.30339.17313.73302.33293.76291.51288.07313.28282.37305.40347.72
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity1.881.827.967.475.339.776.041.410.32-8.05-9.172.77
Cash from Investing Activity6.3310.46-6.689.801.810.970.922.634.7843.96-22.50-33.80
Cash from Financing Activity-8.58-8.58-0.63-18.23-7.35-9.29-4.85-6.4615.07-57.1932.9038.55
Net Cash Flow-0.363.710.64-0.96-0.211.442.11-2.4220.17-21.281.247.52
Free Cash Flow1.171.823.2214.417.026.605.721.430.12-9.33-29.25-19.12
CFO/OP32%38%55%70%87%117%64%22%2%-47%-73%30%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days99.40101.2089.2284.1396.0383.03103.85119.7888.1379.0059.0434.22
Inventory Days
Days Payable
Cash Conversion Cycle99.40101.2089.2284.1396.0383.03103.85119.7888.1379.0059.0434.22
Working Capital Days73.36-19.2440.40-32.2328.5816.78139.42-445.70-272.5724.83248.23168.93
ROCE %2.68%2.89%0.96%2.45%-0.85%-0.09%0.79%0.71%2.73%3.93%1.99%2.22%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters50.76%50.76%50.76%50.76%47.17%47.16%47.16%47.16%47.16%47.82%48.20%48.20%
FIIs0.02%0.00%0.00%0.24%0.01%0.03%0.02%0.01%0.05%0.00%0.00%0.02%
Public49.21%49.24%49.24%49.00%52.84%52.82%52.82%52.84%52.78%52.18%51.79%51.78%
No. of Shareholders68,05971,63579,55886,4171,02,1851,09,0781,14,6721,12,4811,10,3351,08,7881,08,2791,08,322

Fundamentals

Market Cap₹ 143 Cr.
Current Price₹ 8.88
Book Value₹ 19.1
ROCE2.22 %
ROE0.00 %
Dividend Yield0.00 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)-5%
Compounded Profit Growth (TTM)-108%
Consolidated figures.
Valuation
Market capRs 136 Cr
Enterprise valueRs 124 Cr
Price to book0.44x
Price to sales3.63x
EV / EBITDA10.55x
EV / EBIT34.74x
EV / sales3.31x
Price to cash flow49.11x
Earnings yield-0.23%
P/E, 3-year average95.85x
P/B, 3-year average0.79x
P/E, 5-year average412.28x
P/B, 5-year average0.64x
Profitability
Operating margin (excl. other income)36.64%
Operating margin (incl. other income)30.65%
EBITDA margin31.38%
Pre-tax margin1.66%
Net profit margin-0.83%
Net margin, latest quarter23.58%
ROCE1.42%
ROE, 3-year average1.80%
ROCE, 3-year average2.32%
ROA, 3-year average1.44%
ROE, 5-year average-1.18%
ROCE, 5-year average1.61%
ROA, 5-year average-0.87%
ROIC (approx.)0.00%
Tax rate100.00%
Other income / net worth-0.79%
Growth
Sales growth (latest year)21.61%
Sales CAGR, 3 years6.26%
Sales CAGR, 5 years17.81%
Sales growth QoQ60.15%
Sales growth YoY (latest quarter)-26.93%
Profit growth YoY (latest quarter)-13.10%
Per share
EPS (TTM)Rs -0.02
EPS (latest quarter)Rs 0.12
EPS, 3-year averageRs 0.39
EPS, 5-year averageRs -0.25
Book value per shareRs 19.07
Sales per shareRs 2.32
Cash flow per shareRs 0.17
Free cash flow per shareRs -1.19
Efficiency
Asset turnover0.12x
Fixed asset turnover0.17x
Inventory turnover-0.11x
Debtor days34 days
Debtors turnover10.67x
Cash conversion cycle34 days
Working capital days169 days
Leverage
Total debtRs 10 Cr
Cash and bankRs 22 Cr
Net debtRs -12 Cr
Debt to equity0.03x
Net debt / EBITDA-1.02x
Interest coverage1.21x
Owners' fund to total sources88.41%
Debt to assets2.74%
Cash flow
Cash from Operating Activity (latest year)Rs 3 Cr
Cash from Investing Activity (latest year)Rs -34 Cr
Cash from Financing Activity (latest year)Rs 39 Cr
Net Cash Flow (latest year)Rs 8 Cr
Free cash flow (latest year)Rs -19 Cr
FCFE (approx.: FCF + change in debt)Rs -17 Cr
Sales to cash flow14.71x
Statement figures
Net sales (TTM)Rs 37 Cr
Net sales (latest year)Rs 41 Cr
Sales (latest quarter)Rs 8 Cr
Operating profit excl. other income (latest year)Rs 15 Cr
Operating profit (latest quarter)Rs 4 Cr
Other income (TTM)Rs -2 Cr
EBITDA (TTM)Rs 12 Cr
PBDT (TTM)Rs 9 Cr
Profit before tax (TTM)Rs 1 Cr
Tax (latest year)Rs 1 Cr
Net profit (TTM)Rs -0 Cr
Net profit (latest quarter)Rs 2 Cr
Depreciation (TTM)Rs 8 Cr
Depreciation (latest quarter)Rs 2 Cr
Interest (TTM)Rs 3 Cr
Cost of goods sold (latest year)Rs -0 Cr
Total expenditure (latest year)Rs 26 Cr
Total income (latest year)Rs 38 Cr
Share capitalRs 161 Cr
ReservesRs 146 Cr
Shareholders' fundsRs 307 Cr
Total assetsRs 348 Cr
Net blockRs 245 Cr
Capital work in progressRs 12 Cr
InvestmentsRs 0 Cr
ReceivablesRs 4 Cr
InventoryRs 2 Cr
Other liabilitiesRs 31 Cr
Shares outstanding (crore)16.12
Ownership
Promoter holding48.20% (+1.04 in a year)
Computed by MarketFriction from the consolidated statements. Returns use average balances.
P/B 0.39 is at the 39th percentile (median 0.47).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
PeriodINDOWINDNifty 50Difference
1 week-4.3%-2.8% -1.5 pts
1 month-6.6%-6.8% +0.2 pts
3 months-10.5%-7.6% -2.9 pts
6 months+19.5%+0.4% +19.1 pts
1 year-49.4%-9.9% -39.5 pts
2 years-64.7%-13.6% -51.1 pts
3 years-37.7%+14.2% -51.9 pts
5 years+29.8%+27.9% +2.0 pts

Red flags

F-score 3 of 8
lookProfit leans on other income Other income was 66% of pre-tax profit in 2025
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.

Latest quarter

Jun 2026
Sales ₹8 Cr -26.9% vs Jun 2025. Net profit ₹2 Cr -18.3%.
Against our estimate for Jun 2026: sales -23.4%, profit +35.8% in line. Our estimate for Sep 2026: sales Rs 13 Cr, profit Rs 2 Cr (how).

Activity

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No bulk or block deals on record.
Ex-dateActionFactor
2025-11-19Rights 1:4 @ Premium Rs 5.35/-
2024-09-20Annual General Meeting
2024-07-16Rights 1:5 @ Premium Rs 12.50/-
2023-09-18Annual General Meeting
2023-01-13Rights 2:5@ Premium Rs 2/-
2022-09-22Annual General Meeting
2021-09-21 Annual General Meeting
2020-09-21 Annual General Meeting
2019-09-09 Annual General Meeting
2018-09-18 Annual General Meeting
2017-08-22 Annual General Meeting
2016-09-08 Annual General Meeting (Book Closure Dates Revised)
2015-09-21Annual General Meeting (Book Closure Dates Revised)
2014-07-30Annual General Meeting
2013-09-18Annual General Meeting
2012-09-17Annual General Meeting
2011-09-20Annual General Meeting
2010-12-09Annual General Meeting
2009-12-21Annual General Meeting
2008-12-18Annual General Meeting
2007-12-14Agm
DateTypeWhat it says
2026-09-30AppointmentAppointment of Mr Dr. S.R. Shriraam Shekher as Non- Executive Independent Director of the company w.e.f. September 30, 2026.
2026-09-29Shareholder meetingVoting results of Annual General Meeting held on September 26, 2025
2026-09-25Shareholder meetingProceedings of Annual General Meeting held on September 25, 2025
2026-09-15RetirementRetirement
2026-09-09ResignationResignation of Mr BATHEY RAMAMURTHYBASKARAN as Non- Executive Independent Director of the company w.e.f. September 09, 2026.
2026-09-09ResignationResignation of Director/KMP/SMP
2026-08-13Board meeting outcomeIndowind Energy Limited has submitted to the Exchange, Outcome of Board Meeting held on 13th August 2026.
2026-07-01Reply to Clarification- FinaThe Exchange had sought clarification from Indowind Energy Limited for the quarter ended 31-Mar-2026 with respect to Regulation 33 of the SEBI (Listin...
2026-06-25Clarification - Financial ReThe Exchange has sought clarification from Indowind Energy Limited for the quarter ended 31-Mar-2026 with respect to Regulation 33 of the SEBI (Listin...
2026-05-26Board meeting outcomeIndowind Energy Limited has submitted to the Exchange, the financial results for the period ended March 31, 2026.
2026-05-26Board meeting outcomeIndowind Energy Limited has submitted to the Exchange, the financial results for the period ended March 31, 2026.
2026-05-18Disclosure under SEBI TakeovIndowind Energy Limited has Submitted to the Exchange a copy of Disclosure under Regulation 31(4), (5) of the Securities and Exchange Board of India (...
2026-05-07General UpdatesModification of NCLT Order dated 10th March, 2026 Scheme of Amalgamation C.P.(CAA)/65(CHE)2024
2026-04-25Price movementSignificant movement in price has been observed in Indowind Energy Limited. The Exchange, in order to ensure that investors have latest relevant infor...
2026-04-24Price movementSignificant movement in price has been observed in Indowind Energy Limited. The Exchange, in order to ensure that investors have latest relevant infor...
2026-03-13Awarding of order(s)/contracAwarding of order(s)/contract(s)
2026-03-06Amendment to AOA/MOAThe Amendment to AOA/MOA of the company.
2026-03-06Shareholder meetingVoting results.
2026-02-05Concall / analyst meetTranscript
2026-02-03Concall / analyst meetLink of Recording
2026-02-03Shareholder meetingNotice of Postal Ballot
2026-01-30UpdatesUpdate To Earning Conference Call.
2026-01-30Press ReleaseA press release dated January 30, 2026, titled "Indowind Energy Reports 29.4% YoY EBITDA Growth for 9M FY26; Unveils Fund Raising, Investment Plan".
2026-01-29Concall / analyst meetSchedule of meet
2026-01-29Board meeting outcomeIndowind Energy Limited has submitted to the Exchange, the financial results for the period ended December 31, 2025.
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Order dateForumCase
2021-06-01NCLTIndowind Energy Ltd. Vs Suzlon Energy Ltd.
2021-03-24NCLTIndowind Energy Ltd. Vs Suzlon Energy Ltd.
2021-02-02NCLTIndowind Energy Ltd. Vs Suzlon Energy Ltd.
2020-12-16NCLTIndowind Energy Ltd. Vs Suzlon Energy Ltd.
2020-12-07NCLTIndowind Energy Ltd. Vs Suzlon Energy Ltd.
2020-11-03NCLTIndowind Energy Ltd. Vs Suzlon Energy Ltd.
Orders from NCLT, NCLAT and CESTAT naming the company. Click a row for the order.
High low price variation greater than 150perc in previous 12 monthsScrip PE is greater than 50 (4 trailing quarters)

Quick answers

What is the market cap of Indowind Energy Ltd?

Indowind Energy Ltd (INDOWIND) has a market capitalisation of Rs 143 Cr. at the 2026-10-01 close.

What were Indowind Energy Ltd's latest quarterly results?

In the Jun 2026 quarter, Indowind Energy Ltd sales was Rs 8 Cr (-26.9% vs Jun 2025) and net profit was Rs 2 Cr.

What is the 52-week high and low of Indowind Energy Ltd?

The 52-week high is Rs 18.94 and the 52-week low is Rs 7.00.

Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.AboutMethodologyFAQResearchContactTermsPrivacyDisclaimerUpdated 2026-10-03